Mortgages
Mortgage approvals fall for the twelfth month
The 58,000 mortgage approvals in April are the twelfth successive monthly drop in approvals by UK lenders. The amount of money lent also fell for the twelfth time in a row. Just £8.3 billion was advanced to individuals for buying houses, compared with £16.2 billion a year ago.
Nationwide increase rates on fixed rate mortgage deals
Nationwide Building Society today announced an increase in rates on its range of fixed rate mortgage deals. The new rates are available from Tuesday 3 June 2008.
RICS: Bank of England mortgage approvals
Commenting on Bank of England mortgage approvals, Simon Rubinsohn, RICS chief economist said: "The latest weak data on mortgage approvals highlights the continuing problems facing borrowers trying to secure finance to purchase property.
Mortgage approvals fall in April
The increase in total net lending to individuals in April (£7.3 billion) was below the increase in March and the previous six-month average, according to latest figures from the Bank of England (BoE).
Advisers facilitate consumer choice and foster competition
Intermediaries play a vital role in helping consumers find the right mortgage deal and have been largely instrumental in the growth of today's highly competitive mortgage industry, says IMLA, echoing the findings of AMI's recent publication ‘The Value of Mortgage Advice'.
Homes on the line as borrowers ditch life cover to save cash
Homeowners are exposing themselves to massive risk by rejecting life cover in a bid to cope with rising prices and reduce their monthly outgoings.
Million pound plus mortgages face extinction
Million pound plus mortgage deals are becoming virtually extinct as lenders turn their backs on the upper end of the market, warns wealth manager and investment/mortgage planner HFM Columbus.
Sidestep pricey mortgages for the cost of a daily cappuccino
As house prices continue to decline, many homeowners could face more than paper-losses on their properties. Falling house prices means that even diligent mortgage payers may not meet their lenders' stringent requirements when their current deals end.
moneysupermarket.com: Nationwide May house price survey
Commenting on Nationwide's monthly house price survey, Louise Cuming, head of mortgages at moneysupermarket.com, said: "This is further gloomy evidence that house prices are slipping and will undoubtedly not do anything to help the already low levels of confidence in the market.
first direct cuts cost of fixed rate mortgages
first direct is reducing the cost of its popular 2 year fixed rate mortgages this Friday, 30 May 2008.
Mortgage market is down but by no means out
"Bad news seems to be the modus operandi when it comes to mortgages lately, so it is refreshing to see a minor ray of hope shining form the latest British Bankers' Association (BBA) figures.
Abbey increase interest rates on fixed rate mortgages
Commenting on the increase in interest rates on Abbey's fixed rate mortgages, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said:
Abbey for Intermediaries adds more exclusive partners
As part of its ongoing commitment to its intermediary channel, Abbey for Intermediaries has extended the number of brokers who have access to its range of exclusive products, as well as raising the LTV offered on these products.
Does a pint of milk last longer than a mortgage deal?
Darren Cook, Head of Press at Moneyfacts.co.uk, comments: "Households across the UK have got their morning routine of a fresh cup of tea and a bowl of cereal down to a fine art.
LV= launches ‘revolutionary' mortgage & lifestyle protection product
Insurance and investment group LV= has launched its innovative Mortgage & Lifestyle Protection product, which is simple to apply for and can protect customer's mortgage payments and living expenses.