Mortgages
Just Retirement predicts increase in demand for equity release
Just Retirement believes that the effects of recession will lead to increased interest in equity release as those close to pension age seek alternative funding to secure their retirement.
HSBC introduces its lowest mortgage rate ever
HSBC's new range of mortgages feature its lowest ever interest rate - 2.99 per cent on a Premier 2-year discount - and Trackers that are available to borrowers with a 25 per cent deposit.
Abbey cuts fixed and tracker mortgage rates
From Wednesday 14 January, Abbey is cutting rates by up to 0.3 per cent on its fixed rate mortgages. Abbey are launching market leading rates for 2, 3 and 5-year mortgages, at rates starting at 3.99 per cent, offering some attractive alternatives for customers who wish to lock in to the current low rates for the longer term - including fee-free options.
£1.18bn of equity released by retirees in 2008
Looking back over a turbulent 2008 it appears the equity release sector has not escaped unscathed. The 2008 UK Equity Release Market Monitor released from Key Retirement Solutions, the leading independent specialist adviser shows that the number of equity release plans taken out by retirees decreased by 14% from 2007 to 2008.
The Co-operative Bank to launch new 5 year fixed rate mortgage
The Co-operative Bank is launching a market leading five year fixed rate mortgage this week at a rate of 4.49%.
New mortgage rates from Lloyds TSB and C&G
Lloyds TSB and Cheltenham & Gloucester will cut new mortgage rates next week following yesterday's Bank of England base rate reduction.
A&L launches intermediary exclusive remortgage deals
Alliance & Leicester is announcing the launch of exclusive remortgage deals with three of its key intermediary partners which highlight the bank's commitment to the market and its desire to increase volume in 2009.
Halifax mortgage rate decision
Following the decision by the Monetary Policy Committee to reduce the Bank of England Bank Rate by 0.50% to 1.50%, Halifax announces it will pass the full 0.50% reduction on to existing tracker mortgage customers from 1st February 2009. Halifax will also reduce its SVR from 4.75% to 4.50% at the same time.
Nationwide passes on mortgage rate cut in full
Following the decision by the Monetary Policy Committee (MPC) to cut the Bank of England Base Rate, Nationwide Building Society announces that it will decrease its Base Mortgage Rate (BMR) from 4.00% to 3.50% from 1 February 2009.
HSBC passes on UK base rate cut in full
HSBC will pass on today's cut in the Bank of England Base rate to all mortgage and commercial borrowers.
Lloyds TSB and C&G cut mortgage rates
Lloyds TSB and Cheltenham & Gloucester will pass on today's base rate cut to existing variable and tracker customers, following the decision by the Bank of England to cut base rate by 0.5 per cent.
Equity release makes sense for many in current economic climate
Sharon Bratley, Chartered Financial Planner at Fairinvestment.co.uk, comments on the Safe Home Income Plans (SHIP) members' survey that reveals that the equity release market is expected to grow by £200million in 2009, reaching £1.4billion by the end of the year and £1.7billion by the end of 2010.
Britannia slashes fixed-rate mortgages
Britannia is slashing its fixed-rate mortgage range by up to 65 basis points from Friday (9 January). Rates on each tier of the Society's fixed-rate range are being cut, but the highlights of the new range will be Britannia's five and ten-year fixed rate products with rates ranging from just 4.69%.
Lloyds TSB and C&G pledge to pass on base rate cut
Lloyds TSB and Cheltenham & Gloucester will pass on any base rate cut to existing variable and tracker customers.
Alliance & Leicester launches New Year mortgage deals
Alliance & Leicester is launching into the 2009 mortgage market with the introduction of a number of great new mortgages with attractive, market leading rates starting from just 3.49%.