Mortgages
Equity release could make up for pathetic pensions
As the UK elderly live longer, disappointing pensions are becoming a real issue, which could explain a recent surge in the number of equity release schemes taken out.
Retired homeowners still have equity in their homes
Despite falling house prices, homeowners aged 65 and over still have £726.43 billion of equity in their homes, according to research from Prudential's Equity Release Index.
Alliance & Leicester cuts mortgage rates
Alliance & Leicester's Mortgage deals have been re-priced and rates are being reduced on all bar one of its mortgage products, which remains unchanged.
Buy-to-let lending falls
New buy-to-let lending declined in the first half of 2008, with the sector affected by the same conditions constraining the wider mortgage market, according to new data from the Council of Mortgage Lenders.
Mortgagees finding ‘spare cash' for overpayments
Despite the soaring cost of living and escalating household bills, more than one in ten mortgage holders (12 per cent) are planning to make an overpayment on their mortgage over the next six months according to new research from Abbey Mortgages.
Charity doesn't begin at home
Paying off your mortgage, saving and passing on an inheritance has been the objective of many of today's over 50s. However research published by Saga Equity Release shows that 90% of children do not expect an inheritance and 72% are happy for their parents to use the equity from their home to enjoy their retirement...within reason.
RICS: BBA July mortgage lending figures
Commenting on the BBA mortgage lending figures, Oliver Gilmartin, RICS senior economist said: "Mortgage activity appears to be stabilising although the paltry level of activity is not supportive of a near term pick up in house prices.
Mortgage lending levels off in July
In July, mortgage lending rose by £4.3 billion; the same as in June, according to the British Bankers’ Association (BBA). The number of house purchase approvals continues to be very low while those for remortgaging have fallen.
Alliance & Leicester withdraw two year tracker product
Alliance & Leicester announces it will withdraw its 5.98% Two Year Base Rate Tracker product with a £999 product fee from the close of business on Tuesday 26 August 2008.
Nationwide announces changes to mortgage range
Nationwide Building Society have announced the following changes to its mortgage product range, which will be effective from Thursday 28 August:
Leeds Building Society cuts up to 0.50% off fixed rate mortgages
Leeds Building Society is cutting the rates on its 2 year fixed rate mortgages in its new range, on both fee-paying and fee-free options.
Borrowers face rejected applications
The mortgage intermediary market has never been as important to consumers, reveals new research by GE Money Home Lending, one of the UK's leading special lenders.
RICS: CML July mortgage lending data
Commenting on CML gross mortgage lending data, Oliver Gilmartin, RICS senior economist said: "The recent improvement in the monthly gross lending could offer some encouragement in what are typically slower summer months.
Britannia trims its fixed rate mortgages
Britannia has trimmed up to 30 basis points from its two and five year fixed rate mortgages.
Yorkshire reduces 2 year fixed rate mortgage costs
Yorkshire Building Society is launching a new 2 year fixed rate mortgage at 5.54%. The new product also features a reduced application fee of £895 compared to the Society's normal fee of £995.