Mortgages
Nationwide increases rates on some tracker mortgages
Nationwide Building Society has announced an increase in rates on some of its range of tracker mortgages. The new rates are available from Tuesday 4 December 2007.
New exclusive Open Market HomeBuy mortgage
Yorkshire Building Society has announced a new exclusive Open Market HomeBuy (OMHB) facility that will increase the interest free equity element to 32.5% for the first five years.
2008 a year of debt repayment
“Two year swap rates remain low at 5.56% reflecting ongoing belief in an imminent rate drop” comments Katie Tucker of John Charcol “However, lenders are not all reducing their two year fixes in response.
125% mortgages - not quite what they seem
David Knight, Mortgage analyst at Moneyfacts.co.uk comments: “Despite the continuing tightening of criteria in the mortgage market, especially on riskier loans, five lenders are still offering the much talked about 125% loans.
RLAM: October UK mortgage approvals
Ian Kernohan, Economist at RLAM, comments on UK mortgage approvals: “Much weaker mortgage approvals data help to bolster the case for a rate cut next week. The MPC wanted the economy to slow; they did not want to see it slide.
CML: October Bank of England lending data
The Bank of England mortgage approvals data published today shows a less dramatic slowdown in mortgage approvals than preliminary surveys had suggested.
Small business owners’ big plans for mortgage free future
More than one in five (22%) small business owners are striving to pay off their home loan early so they can grow their business quicker, according to research to support Yorkshire Bank’s Business Offset Mortgage.
Mortgage approvals fall in October
The increase in total net lending to individuals in October (£8.8 billion) was below the increase in September and the previous six-month average, according to data from the Bank of England (BoE).
Homeowners shop around, but for the wrong reasons
Only 40 per cent of homeowners are placing major importance on the size of fees when choosing a mortgage.
Borrowers opt for stability and certainty
Almost one-in-three homeowners (5.1 million people) would choose to fix the interest rate on their mortgage for five or more years if they had to renew their mortgage now, according to research from Abbey Mortgages.
Mortgage fee fear as uncapped charges increase
The number of mortgages with uncapped upfront fees has skyrocketed over the past year, according to MoneyExpert.com.
Double the trouble from mortgage fees
The average mortgage arrangement fee has almost doubled during the last 2 years, according to research from Moneyfacts.co.uk.
FSA clampdown on mortgage brokers
Commenting on the FSA announcement it is to clampdown on 48 broking firms selling self-certification mortgages, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "I welcome this crackdown by the Financial Services Authority.
GHL group joins the Exchange Bond revolution
GHL Group – one of the UK’s premier mortgage distribution companies – will become the first mortgage network to offer its members the Exchange Bond, an alternative to the traditional cash deposit for clients to consider when securing a property.
Just Retirement cuts interest rate on Roll Up Plan
Just Retirement, the equity release specialist, has reduced even further the interest rate on its market leading Equity Release Roll Up Plan.