Mortgages

Mortgage lending remains subdued

April’s mortgage lending was slightly stronger than in March and there were also high numbers of remortgaging loans approved in the month, according to the British Bankers’ Association (BBA).

Remortgaging and standard status dominates slowing market

The proportion of mortgage business represented by remortgaging continues to grow, according to latest survey information obtained by IMLA from both intermediaries and lenders.

Appetite for five-year fixed rate deals up

Demand for five year fixed rate mortgages has increased for the third successive month, according to the latest research from the Abbey Mortgage Index. In a study of almost 1,000 mortgagees, 30 per cent said they would opt for a five-year fixed deal if they were to remortgage tomorrow.

Are intermediaries seeing the full picture?

Darren Cook, mortgage expert at eMoneyfacts.co.uk, comments: "With continuing uncertainty in the mortgage market and the total number of products continuing to decline, many more people will be considering approaching an intermediary to find them the best mortgage deal for their circumstances.

Abbey cuts mortgage rates

Abbey continues to strengthen its competitive position in the mortgage market and from today (Friday 16 May) announces reductions in flexible and tracker mortgages and to some of its fixed rate deals.

Key Retirement Solutions: OFT study into sale and rent back

Dean Mirfin, Business Development Director of independent equity release specialist, Key Retirement Solutions, comments on the OFT's intention to launch a market study into the sale and rent back sector:

First time buyers turn to mortgage intermediaries

New figures from the Council of Mortgage Lenders (CML) show that first time buyers are increasingly looking to mortgage intermediaries to help them get a mortgage and find the best deal.

High inflation puts the brakes on needed rate cut program

As well as increasing the eligibility for the Government Homebuy schemes beyond key workers, and out to any first time buyers with household income of less than £60,000, the government has made £200m available for purchasing shares of unsold new homes for social tenants or shared equity schemes.

Moneyfacts mortgage update

Michelle Slade, analyst at Moneyfacts.co.uk, comments "It is now five weeks since the last base rate cut and still 24 lenders (25%) have not announced their intentions with regards to their standard variable rate (SVR).

CML: Government draft legislative agenda

The CML welcomed today's announcement in the government's draft legislative agenda of plans to provide more help for first-time buyers, in particular the widening of access to shared equity schemes.

HSBC extends Rate Matcher mortgage offer

HSBC has extended its hugely successful Rate Matcher mortgage deal by six weeks to 29 June 2008. The Rate Matcher mortgage is available to all UK homeowners whose fixed-rate mortgage period matures before 31 August, subject to clear affordability criteria and a maximum loan-to-value of 80 per cent.