Mortgages
RICS: CML 2007 mortgage figures
Commenting on the CML figures, Simon Rubinsohn, RICS senior economist said: "2007 may have been a banner year for the mortgage market as the CML data released today suggests, but the most timely indicators point to a sharp slowdown in demand for property related loans.
Skipton fixes on lower mortgage rates
Borrowers can take advantage of lower rates from today as Skipton Building Society relaunches its range of fixed rate mortgages, which start from as low as 5.34%.
Failure to remortgage costs average homeowner ‘a fiver a day’
A whopping £25 million is wasted collectively every day by people who are not on the most suitable mortgage deal for them, according to research from Abbey Mortgages.
Half a million missed mortgage payments in last six months
Close to half a million cash-strapped homeowners have missed a monthly repayment on their mortgage in the past six months, according to MoneyExpert.com research.
Record gross lending in 2007
2007 as a whole proved to be the strongest ever year for gross mortgage lending, according to the Council of Mortgage Lenders. It reached an estimated £362 billion, up 5% from £345 billion in 2006, and above the CML’s forecast in October 2007 of £360 billion.
It’s never been a better time for Equity Release
Newcastle Building Society Equity Release Service has reviewed the line up of its 2007 recommended equity release plans and made changes based on the improved range of products available to consumers.
Housing market slams on the brakes
Average property values rose by just 1.85% over last year, down from a rise of 7.44% in 2006, according to figures from Moneyextra.com.
first direct launches market leading fixed rate offset mortgages
first direct, the only bank to pass on the recent full base rate cut to new and existing customers with immediate effect, has launched two new market leading mortgages.
Woolwich launches three new fixed rate mortgage deals
Woolwich is launching a raft of lower fixed rate mortgages at rates as low as 5.59 per cent for its 10 year deal, 5.69 per cent for the five year fix and 5.89 per cent for the two year fix.
More time spent researching holidays than mortgages
Thousands dream of escaping the cold weather at this time of year, but research released today shows that Britons spend almost twice as long planning their annual holiday than they do considering a mortgage.
uSwitch.com launches mortgage price comparison service
uSwitch.com, the leading independent price comparison and switching website is expanding its range of services with the launch of the new mortgage comparison channel.
Fixed rates fall and tracker rates increase
“The good news for borrowers is that two year swap rates (on which lenders base fixed rate prices) have finally fallen under the 5% mark in anticipation of another rate cut, so fixed rates are now becoming much more competitive.” comments Katie Tucker of John Charcol.
L&C Mortgages welcomes Charcol’s move to free advice
L&C Mortgages, UK fee-free mortgage broker, welcomes the news that Charcol has decided to remove its broker fee for phone-based advice and will now only charge a broker fee through its face-to-face arm.
Charcol to offer fees free mortgage advice
Charcol, UK mortgage adviser, is now offering completely fees free mortgage advice from the whole of the UK market.
Demand for equity release increased by 9% in 2007
Despite the global credit crunch and speculation that the UK housing market is set to slow-down, the UK equity release market continued to thrive in 2007 with a 9% rise in demand compared to the previous year, according to figures from Key Retirement Solutions.