Mortgages
SHIP welcomes launch of ERSA
Andrea Rozario, Director General of SHIP, comments on the official launch of the Equity Release Solicitors' Alliance (ERSA): "The launch of the Equity Release Solicitors' Alliance (ERSA) is a step in the right direction for the industry as a whole.
IMLA refutes AMI broker forecast
AMI forecasts gross lending to be just over £145bn in 2009 with lending via intermediaries accounting for 45% of the market. Peter Williams, executive director of IMLA, comments: "This is a bleak forecast from AMI.
Mortgage specialist to help housebuilders with Homebuy Direct
New Homes Mortgage Helpline, the UK’s leading new homes mortgage specialist, has launched a unique and exclusive new service to assist housebuilders and their customers with all their HomeBuy Direct needs.
Lending figures will struggle to improve
Until borrowers can get a better deal than moving onto their lender's SVR, we are unlikely to see any significant improvements in lending figures.
Net mortgage lending up in December
In December, net mortgage lending rose by £2.9 billion, according to figures from the British Bankers’ Association (BBA). This was lower than in November and below the average of the previous six months.
Coventry reduces standard variable rate
Following January's Bank of England MPC announcement, Coventry Building Society is reducing its standard variable mortgage rate to 4.74%.
Concerted action needed to save mortgage market
The Association of Mortgage Intermediaries (AMI) has called for the accelerated implementation and launch of the banking proposals announced by the Government earlier this week.
Natwest & RBS launch new competitive fixed rate deals
NatWest and RBS have announced they are cutting a significant number of their fixed and tracker rate mortgages by up to 0.65%. In addition, the Bank is offering those looking to purchase a property their best ever mortgage rate - a 2 year fixed rate at only 3.49%.
HSBC encourages borrowers to make overpayments
HSBC is writing to 30,000 of its Tracker and variable rate mortgage customers to explain the benefit of overpaying on their loans, and therefore take real advantage of up to a three and a half per cent fall in their interest rate since October 2008.
Abbey introduces new tracker range and reduces fixed rates
On Friday 23 January, Abbey is introducing a new range of market-leading 3-year trackers to add to the existing 2-year trackers currently available. Rates start at 3.99 per cent with a £1,495 fee at 75 per cent loan to value (LTV) and include remortgage and homebuyer options.
NAEA: CML December lending figures
Following the announcement from the CML, that Gross mortgage lending is down by 11% in December and down by 47% on December 2008, Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA), comments: "These figures are disappointing but not unexpected.
Leeds launches 5 year fixed rate mortgage at under 5%
Leeds Building Society has introduced a five-year fixed rate mortgage product at under 5%, with no fees (except for the valuation) and no other purchases required, such as opening a current account.
Lloyds TSB sees thousands of mortgage holders overpay
Thousands of Lloyds TSB and Cheltenham & Gloucester customers are taking advantage of low interest rates by making monthly overpayments to their mortgage.
Gross mortgage lending declines in December
Gross mortgage lending reached an estimated £12.6 billion in December down 11% from £14.2 billion in November and 47% on December 2008, according to the Council of Mortgage Lenders. This is the lowest monthly figure since April 2001.
The Mortgage Works launches new fixed-rate buy to let mortgages
The Mortgage Works (TMW), the specialist lending subsidiary of Nationwide Building Society, has launched several new fixed-rate buy to let products and reduced rates on some of its existing products.