Mortgages
Lloyds TSB and C&G launch new tracker mortgage range
Lloyds TSB and C&G launch a new tracker range with rates starting from 3.69%. Following the 1 percentage point cut in the Bank of England base rate, LIBOR - used by lenders to fund trackers - has fallen by 0.4%.
first direct launches new base rate tracker mortgages
first direct has launched two new market leading base rate tracker mortgages available from today, Friday 5 December.
RBS and NatWest reduce its SVR
RBS and NatWest has announced that its Standard Variable Rate will be cut by 0.75% from 5.19 per cent to 4.44 per cent. The reduction follows a review after the Bank of England's Monetary Policy Committee (MPC) decision yesterday.
Nationwide will not enforce Tracker floor of 2.75%
Society delivers an expected £300m additional member benefit to support mortgage borrowers and reduces Base Mortgage Rate to 4.00%.
Alliance & Leicester withdraws Tracker Mortgage
Following the cut in the Bank of England Base Rate announced today, Alliance & Leicester will be temporarily withdrawing its Tracker Mortgage from its mortgage range from the close of business today, Thursday 4 December 2008.
HSBC passes on base rate cut to personal and business customers
HSBC will lower its variable rate mortgage by 1 per cent to 4.44 per cent in line with the cut in the Bank of England base rate announced today.
Britannia makes further cuts to fixed rate mortgages
Britannia has further reduced the cost of some of its fixed-rate mortgages with rates falling by up to 0.60% for borrowers requiring a loan-to-value (LTV) of 80% or less.
Deferred mortgage interest payment scheme
Commenting on the news that some struggling homeowners will be able to defer interest payments on their mortgage for up to two years, Louise Cuming, head of mortgages at moneysupermarket.com, said:
MoneyExpert.com: Bank of England base rate cut
Sean Gardner, director of MoneyExpert.com, said: "This is another massive rate cut that will bring further relief to homeowners, particularly those with tracker mortgages. And around six million of us have trackers and standard variable rates.
The MPC has 2% more to play with
Following the cut in Bank Rate today by the MPC of 1%, Ray Boulger of John Charcol, the UK's leading independent mortgage adviser, comments, "Last month's Quarterly Inflation Report highlighted a sea change in inflation expectations and all the subsequent statistics show the economic situation continuing to deteriorate rapidly.
Lloyds TSB and C&G pass on 1% base rate cut
Lloyds TSB and C&G will pass on today's base rate cut in full to existing variable and tracker customers, following the decision by the Bank of England to cut base rate by 1 per cent.
Intermediary mortgage lenders help borrowers through tough times
One in every three borrowers in difficulty with their mortgage is being transferred from a repayment mortgage to interest-only payments, according to IMLA.
New scheme to help people at risk of repossession
The Government has announced a new scheme to help people who suffer a temporary loss of income stay in their home.
Shock base rate cut – one month on
Today we can get a better picture of how the shock 1.50% cut in base rate last month affected the mortgage and savings markets and it doesn't make for good reading.
Interest-only mortgage deals in decline
Interest-only mortgage deals in the mainstream residential market are in decline, research from Paragon Mortgages has revealed.