Mortgages
Mortgage lending rises in October
CML data shows that gross mortgage lending totalled an estimated £18.7 billion in October, almost 7% higher than what was an admittedly weak £17.5 billion lent in September.
Abbey cuts rates on three-year fixed rate mortgages
From Friday 21 November, Abbey is cutting rates by up to 0.5 per cent on all its 3-year fixed rate mortgages from 60 to 75 per cent LTV.
Huge and growing 'mortgage gap' on interest-only mortgages
A new research study by insurance, pensions and investment group LV= reveals a worrying ‘mortgage gap'. Nearly half of the UK's 2.9 million interest-only mortgages (45%, 1.3 million mortgages) have no specified investment vehicle in place to pay off the capital on the loan.
TMA offers Abbey semi-exclusive two-year fixed
The Mortgage Alliance (TMA) has launched a two-year semi-exclusive fixed rate mortgage funded by Abbey for Intermediaries.
FLA Good Practice Guidelines for second charge mortgage lenders
The Finance & Leasing Association (FLA) has launched new, consumer-facing, Good Practice Guidelines setting out what second charge mortgage customers encountering repayment difficulties can expect from their lenders.
Annual equity release sales to double to £2.4bn over five years
These are the predictions of market leading equity release provider Norwich Union, part of Aviva, in its definitive report on the sector compiled to celebrate its 10th anniversary on 16 November 2008.
Don't rush in where agents fear to tread
Following last week's interest rate cut, Louise Cuming, head of mortgages at moneysupermarket.com said: "There's no doubt about it, SVR's are back in vogue following last week's base rate drop.
Lenders not reducing fixed rate mortgages
Customers with fixed rate mortgages are paying nearly twice the cost to lenders of funding on the money markets, according to moneyfacts.co.uk.
Rate cut helps borrowers pay off mortgage over 6 years earlier
The historic cut in interest rates of 2% over the last two months has seen many mortgage borrowers' monthly payments reduce dramatically. Charcol.co.uk is urging borrowers, if they can, to maintain pre-cut payments and use the low interest rate environment to overpay on their mortgage.
New tracker rates - Step in the right direction
James Caldwell, director at Fairinvestment.co.uk comments on the announcements by lenders Abbey, Lloyds TSB and Alliance and Leicester that they are to re-introduce tracker rates mortgage deal into the market.
Homeowners aged 65 and over still have equity in their homes
Despite falling house prices, homeowners aged 65 and over still have £692.06 billion of equity in their homes, according to findings from Prudential's Equity Release Index.
New fixed rate and tracker products from Alliance & Leicester
Alliance & Leicester is re-entering the tracker market with a very competitive two year product featuring a market leading rate of 4.89%.
10% of mortgage borrowers on lender's SVR
Some are as a result of having a small mortgage, while others who have come to the end of an existing deal may not have had enough equity in their home to find any alternative.
Lloyds TSB and C&G launch new trackers
Lloyds TSB and Cheltenham & Gloucester will launch a new range of lower priced trackers on Wednesday 12 November.
RICS: CML September mortgage lending data
Commenting on the CML mortgage lending data, Simon Rubinsohn, RICS chief economist said: "The latest CML data very clearly demonstrates the continuing squeeze on mortgage lending.