Mortgages
Good news for mortgage borrowers
Michelle Slade, analyst at Moneyfacts.co.uk, comments: “Average two-year fixed rate peaked at 7.08% at the beginning of July, since then numerous lenders have passed on cuts to their mortgage ranges.
Kensington launches new five-year fixed rate mortgages
Brokers are seeing increased demand for five-year fixed rates as borrowers batten down in expectation of a period of economic uncertainty.
New valuation process to reinforce confidence in new-build market
The Council of Mortgage Lenders is introducing new measures to help ensure that conveyancing and valuation processes capture the true value of newly-built properties.
Demand for three year fixed rate mortgages triples in six months
Homeowners are three times more likely to opt for a three-year fixed rate mortgage now compared with six months ago according to new research by Abbey Mortgages.
RBS & NatWest announce more cuts to mortgage rates
RBS and NatWest announce they are to cut mortgage rates again, with cuts up to 0.35% - with the prices on the majority of new fixed and tracker mortgages lowered by at least 0.10%. These deals are available through RBS and NatWest branches and via RBS and NatWest Mortgages Direct.
NLA takes hassle out of finding best buy-to-let mortgages
NLA Mortgages, the free-to-use online sourcing and quotation system which also offers a significant cashback for landlords, is now making daily checks across the mortgage market to find the best mortgage products for UK landlords.
Halifax makes further reductions to mortgage rates
Halifax, UK mortgage lender, has made a number of reductions to its mortgage rates. This is the 14th set of rate reductions to the Halifax range so far this year.
Woolwich cuts fixed mortgage rates again
Woolwich, the lending arm of Barclays, is cutting the cost of fixed rate mortgages by as much as 0.28 percentage points as SWAP rates continue to reduce the cost of funding mortgages.
Britannia's two year fixed rates reduced again
Britannia Building Society has cut the rate of its two year fixed rate mortgages by a further 20 basis points.
Abbey launches new low fee range of mortgages
On Monday 1 September, Abbey is introducing a new range of deals with a £499 fee. The low fee deals are available to customers borrowing up to £250,000 and up to 60 per cent loan to value.
Borrowers' confidence returns as mortgage rates fall
For large parts of 2008 borrowers coming to the end of 2 and 3 year mortgage deals have been increasingly staying on their lender's standard variable rate (SVR) because the new fixed and tracker rate options were proving too expensive.
Sub-prime conundrum
Darren Cook, mortgage expert at Moneyfacts.co.uk, comments: "Up until July last year the sub-prime market was a growing sector offering 8,148 sub-prime residential mortgage products compared with just 1,252 today.
Leeds launches 5 year fixed rate mortgage at 5.84%
Leeds Building Society is offering customers the double bonus of a reduced headline rate and completion fee on its 5-year fixed rate mortgage.
LV= Links up with intrinsic to promote flexible lifetime mortgage
Retirement specialist LV= has announced a new partnership with distribution network Intrinsic Financial Services to promote its recently launched equity release product - Flexible Lifetime Mortgage.
Coventry's offsets just got even better
Coventry Building Society, that recently announced excellent half year results, will on Friday 29 August be adding new offsets to its existing range of mortgages.