Mortgages
Bank of Ireland pulls out of 100% mortgage market
Commenting on the last mainstream lender pulling out of the 100 per cent mortgage market, Louise Cuming, head of mortgages at moneysupermarket.com, said: "The withdrawal of 100 per cent mortgage products by the Bank of Ireland, which includes Bristol & West, has virtually shut the door on anyone buying a house with a deposit of less than five per cent.
Banks dominate mortgage market as credit-crunch bites
A 14% fall in mortgage approvals to 179,000 in May is further confirmation that the market for home loans is shrinking quickly. Just £5.8 billion was advanced to individuals to buy houses last month, compared with £16.9 billion a year ago.
LV= launches Flexible Lifetime mortgage
Retirement specialist LV= has launched today a new equity release product - Flexible Lifetime Mortgage - that allows homeowners to draw down funds from the equity in their home when they need to.
UK mortgage approvals fall further
The increase in total net lending to individuals in May (£5.4 billion) was below the increase in April and the previous six-month average, according to figures from the Bank of England (BoE).
HSBC launches new discount mortgage deals
HSBC is continuing to offer market-leading mortgages by launching a range of discount deals, including a 4.99% two-year discount loan that is the only two-year sub-5% discount mortgage on the market.
Britannia reduces cost of some fixed rate mortgage deals
Britannia, Britain's second largest building society, has reduced the cost of some of its two and three year fixed rate options.
Paradigm sign up Unleash advice as new partner members
Paradigm Mortgage Services, the mortgage partnership proposition, has announced Unleash Advice Partnership Ltd as the latest network to sign up as Partner members.
Alliance & Leicester launches new tracker mortgage
Alliance & Leicester is launching a new two year tracker mortgage product which will be available from Friday 27 June 2008. The product will be available to both new and existing customers via brokers, branches or Mortgage Direct.
Paradigm to offer members a Bright Grey future
Paradigm Mortgage Services, the mortgage partnership proposition, has announced the addition of Bright Grey to its dual protection proposition.
Mortgage Account Fee on all HBOS mortgages
Commenting on the introduction of a Mortgage Account Fee on all HBOS mortgages, Louise Cuming, head of mortgages at moneysupermarket.com, said: "HBOS has waited until the exit fees debate has died down before sneaking in a more expensive charge.
The Co-Op's new mortgage deal
Commenting on the Co-Op's new mortgage deal, Louise Cuming, head of mortgages at moneysupermarket.com, said:
Abbey cuts fees on its flexible deals
Abbey is reducing the fee on all its flexible mortgages by £1,000 to £1,499.
Average two year fixed rate breaks 7% barrier
Darren Cook, mortgage expert at Moneyfacts.co.uk, comments: "As predicted by Moneyfacts, the average rate for two-year fixed rate mortgages available on the market today breaks the 7% barrier and stands at 7.02%.
Mortgage approvals fall in May
May’s mortgage lending was much weaker than April and a record low number of house purchase approvals means the subdued picture will continue, according to the British Bankers’ Association (BBA).
The Co-operative Bank offers summer mortgage deal
The Co-operative Bank has just launched an exclusive market leading fee free 3-year tracker mortgage, which will be available to its current account customers.