Mortgages
Mortgage lending drops in October
In October, net mortgage lending rose by £2.9 billion; less than in September and below the average for the previous six months, according to the British Bankers’ Association (BBA).
NatWest & RBS launch new fixed rate mortgage deals
NatWest and RBS have announced they will be replacing a number of their fixed rate mortgages, with new deals reducing by as much as 0.75%. The new rates will be available from Tuesday 25 November.
moneysupermarket.com: Repossession figures
Commenting on today's repossession figures, Louise Cuming, head of mortgages at moneysupermarket.com, said: "There is no doubt that an increase in the number of borrowers in arrears with their mortgage is sad news.
Lloyds TSB pledges to help homeowners in financial difficulty
Ahead of the pre-Budget report on Monday, Lloyds TSB and Cheltenham & Gloucester set out how the lender already works with homeowners in financial difficulty.
Britannia reduces cost of fixed rate mortgages
Britannia has reduced the cost of its fixed rate mortgage range by up to 55 basis points. Available from Friday 21 November, the highlights of the new range include a five-year fixed rate at 5.49% to 60% LTV with no arrangement fee.
Yorkshire Bank named "Best Regional Lender"
Yorkshire Bank has been named "Best Regional Mortgage Lender" by Your Mortgage magazine for the tenth time.
Clydesdale Bank named "Best Mortgage Lender in Scotland"
Clydesdale Bank has been named "Best Mortgage Lender in Scotland" for the fifth year running at the prestigious Your Mortgage Awards.
Government has not gone far enough to prevent repossessions
Commenting on news that over 11,000 properties were repossessed in the last 3 months - a 12% rise - and that 168,000 households are now in arrears, Liberal Democrat Shadow Chancellor, Vince Cable said: "It is clear that in the face of this recession more and more families are simply unable to make ends meet.
RICS: CML repossession data
Commenting on CML repossession figures, Simon Rubinsohn, RICS chief economist said; "CML data released this morning demonstrates that the worsening economic climate is beginning to have a marked impact on both the levels of arrears and repossessions in the property market.
Home repossessions up 12%
The Council of Mortgage Lenders (CML) reports that 1.44% of mortgages were at least three months in arrears as at the end of September 2009. This was up from 1.33% at the end of June. The number of cases in arrears at the end of September was 168,000, 8% higher than the 155,600 at the end of June.
HSBC Bank plc to cut standard mortgage rate
HSBC Bank plc has announced it will reduce its HSBC variable mortgage rate by 0.81 per cent from the 5th December 2008. HSBC's standard variable rate is only paid by one per cent of the Bank's mortgage customers.
uSwitch.com's tracker mortgage tracker
Just two weeks after the unprecedented base rate decrease of 1.5% and the ensuing tracker mortgage market exodus, 16 key providers have now re-launched these products at an average rate of 5.24% APR, according to uSwitch.com.
Coventry Intermediaries refreshes mortgage range
On Friday 21 November, Coventry Intermediaries will be refreshing its range of mortgages. The best buy rates include a 10 year Offset fixed and a fee free 3 year Offset fixed, both are available at 65% loan to value, with free valuation and free remortgage transfer service.
Nationwide cuts the price of fixed rate deals
Nationwide Building Society has announced it will be making some changes to its mortgage products, including cutting the price of its two year fixed rate mortgage deals and selected three and five year fixed rate deals by up to 0.80%.
Borrowers still not feeling benefits of cuts
In the last two months the Bank of England has slashed base rate in an attempt to kick start the economy, but borrowers are still not feeling any real benefits as margins continue to increase and ever bigger deposits are needed to get the best deals.