Mortgages
“Impossible” situation for remortgages is exaggerated, says lender
The bleak warning from the City’s financial regulator that almost 1.5 million people who have to remortgage next year could find it “difficult, if not impossible to refinance their mortgage on favorable terms”, could cause undue panic, according to Newcastle Building Society.
Newcastle launches full equity release brokerage service
Newcastle Building Society Equity Release Service has been launched to provide advice on equity release plans across the UK.
Just Retirement announces latest in series of equity release offers
Just Retirement, the equity release specialist, has not only reduced the interest rate on its Equity Release Roll Up Plan to a market leading 6.25% (AER), but is now also refunding the valuation fee on completion for every application received between 10 December 2007 and 29 February 2008.
first direct cuts mortgage rates
first direct has cut its mortgage rate by 0.25% per cent from today, 6 December 2007, passing on the benefit of the Bank of England base rate reduction to its customers immediately.
First rate drop since 2005 marks turning point for market
The Bank of England finally reduced interest rates today, for the first time since August 2005. The base rate dropped by a quarter percentage point to 5.5% in a move that is heartily welcomed by the National Association of Estate Agents (NAEA).
Nationwide to decrease mortgage rates
Nationwide Building Society today announces that it will decrease its Base Mortgage Rate (BMR) from 1 January 2008.
A quarter point cut is a good start
Ray Boulger of John Charcol, UK Independent Mortgage Adviser, comments on today’s decision by the Monetary Policy Committee (MPC) to cut Bank Rate by 0.25% to 5.5%.
CML responds to decision to reduce rates to 5.5%
Responding to today's MPC decision to reduce rates to 5.5%, the Council of Mortgage Lenders welcomes the reduction which will ease pressures on lenders and borrowers.
Halifax reduces mortgage rate
Following the announcement today by the Monetary Policy Committee of a 0.25 per cent decrease in the Bank of England Base Rate, Halifax will be reducing its standard variable rate (SVR) from 7.75% to 7.50%.
Don’t look a gift horse in the mouth
Fool.co.uk urges homeowners to take advantage of today’s rate cut, but also to remain vigilant over the cost of borrowing in the future.
Co-operative Bank launches new two year fixed rate mortgage
The Co-operative Bank is launching a new market leading two-year fixed rate mortgage this week (Friday 7th December).
TMB named Top Lender at packager awards
At a recent industry event held by South Manchester based mortgage packaging company Clear Mortgage Administration Ltd. (CMA), The Mortgage Business was awarded ‘Best Lender’.
Mortgage lenders see future for long-term fixed rates
New CML research and analysis looking at long-term fixed-rate mortgages suggests that there is a reasonable consumer appetite for such products.
Homeowners cut back on Christmas to ease re-mortgage shock
Two out of three (64 per cent) re-mortgagers will be cutting back this Christmas to help meet increased mortgage repayments, according to research from Lloyds TSB Mortgages.
Sub prime mortgages continue to vanish – where will it end?
Two thirds of sub prime products have vanished in the last six months, according to research from Moneyfacts.co.uk.