Mortgages

Long term fixed rate mortgages increase in number and cost

The number of fixed rate mortgages with terms of ten years or longer has increased in the past year as lenders seek to cope with demand for long-term fixed rate deals, according to MoneyExpert.com.

Significant growth in equity release only a matter of time

SHIP (Safe Home Income Plans) – the body championing high standards of delivery from UK equity release providers - today welcomed the recent report by Peter Williams for the CML, but says there is a danger of talking down faster growth in the sector.

HSBC’s extends ‘RateMatcher’ for existing fixed rate customers

HSBC has announced that its RateMatcher guarantee, which matches the interest rate its fixed rate mortgage customers currently pay when they roll off their existing deal, is being extended to 30 June 2008.

It's like the clocks have been turned back 15 years

Andrew Montlake, partner, independent mortgage broker, Cobalt Capital, reflects on February's mortgage lending figures announced today by the CML:

Leeds Building Society launches new 2-year fixed rate mortgage

Leeds Building Society has launched a market leading 2-year fixed rate mortgage at 5.99% with unlimited capital repayments, no higher lending charge and is available up to 80% loan to value.

Gross lending declines in February

Gross lending declined to an estimated £24 billion in February, down 7% from £25.9 billion in January and 6% from £25.6 billion February 2007, according to the Council of Mortgage Lenders.

Mortgage mayhem but don’t panic, get advice

Charcol’s Katie Tucker comments: “Despite the Bank of England making available to the financial markets another £5bn to ease the liquidity crisis (which was immediately five times oversubscribed), this weeks’ headlines will inevitably concern mortgage borrowers.

Commercial First suspends new lending

The UK’s leading specialist commercial mortgage lender, Commercial First, has announced that with immediate effect all new lending has been suspended.

Biggest isn’t always best

The fallout from the credit crunch and predicted falling house prices have forced lenders to consider their positions in the market and reassess their attitude to risk based lending.

Woolwich launches ten year fix rate mortgage

Woolwich is launching a new long-term fixed rate mortgage at 5.29 per cent for 10 years to help boost the availability of competitive longer term mortgages at a time when there is increased volatility in the mortgage market on an almost daily basis.

Many more seek help with mortgage arrears

More people are seeking help because they are having problems paying their essential household bills, according to figures released by national charity Citizens Advice.

First time buyers squander £1.98 billion from nest eggs

Two fifths (42 per cent) of Britons that are currently saving up to own their first home have blown a combined £1.9 billion from money saved towards a deposit, according to new research from Abbey Mortgages. That’s almost four times the 11.2 per cent who did so last year.