Mortgages

Half of borrowers avoid stamp duty in September

The temporary increase in the stamp duty threshold saw 51% of homebuyers avoiding stamp duty in September, compared with 22% in September last year.

Abbey cuts fixed rates and re-introduces two-year trackers

Abbey has slashed headline rates on its most popular two-year fixed rate deals by up to one per cent.

Coventry to reduce standard variable rate

Following last week's Bank of England MPC announcement, Coventry Building Society announces that it will be reducing its standard variable mortgage rate by 1.5%.

Furness Building Society enters equity release market

Key Retirement Solutions, the UK's leading independent equity release adviser, and Furness Building Society, have announced an equity release partnership.

Lloyds TSB and C&G cut fixed rate mortgage products

Lloyds TSB and Cheltenham & Gloucester will be the first lender to cut fixed rate mortgage products for new customers following yesterday's Bank of England Base Rate reduction.

Halifax reduces SVR by 1.5%

Following the announcement by the Monetary Policy Committee of a 1.50% decrease in the Bank Base Rate, Halifax will also be decreasing its standard variable rate (SVR) by 1.50%. The Halifax SVR will now reduce from 6.50% to 5.00%, one of the most competitive in the market.

Banks that don't pass on rates cuts ‘shameful'

Melfyn Williams, Past President of the National Association of Estate Agents, said: "It is essential that the outcome of what is becoming a battle with the banks is a fair deal for consumers.

Overpaying trackers could knock six years off the mortgage

Louise Bond, personal finance manager at uSwitch.com said: "Following yesterday's base rate cut, people on tracker mortgages could make savings of up to £134.46 per month or £1,613.52 a year.

Abbey to pass on full base rate cut on SVR

Further to the Bank of England's decision to cut base rate by 1.5 per cent, Abbey is passing on the full rate cut to all its existing customers on variable rate mortgages.

moneysupermarket.com: Bank of England interest rate cut

Commenting on the Bank of England interest rate cut to 3 per cent, Kevin Mountford, head of banking at moneysupermarket.com said: "The decision to cut rates by 1.5 per cent is a major shock tactic by the Old Lady to try and kickstart the economy and sidestep the almost inevitable recession.

Hats off to Lloyds TSB on bold decision

Darren Cook, mortgage expert at Moneyfacts.co.uk, comments: "Congratulations must go out to Lloyds TSB and Cheltenham & Gloucester for making a bold statement earlier today, pledging that they will cut their standard variable rate (SVR) in full in line with the Bank of England rate cut.