Mortgages
The Exchange Bond triumphs at Your Mortgage Awards
The Exchange Bond - the financial product that is transforming the way we buy property – has won the Your Mortgage Editor’s Special Choice Award at a ceremony held at Plaisterers’ Hall, London.
The first truly paperless mortgage has arrived!
Yorkshire Building Society is the first lender to offer consumers a truly paperless online mortgage process, and in recognition of this achievement Mortgage Finance Gazette has crowned the Society with its 2007 Innovator of the Year Award.
Coventry cuts rates on fixed rate mortgages
Coventry Building Society has cut rates on its fixed rate residential mortgages. A range of new 5.89% fixed rates have been introduced which offer customers a choice of term, providing them with certainty of repayments over two, three, five or 10 years.
Standard Life Bank increases its SVR
Today Standard Life Bank announced its standard variable rate would increase by 0.15% to 7.46% or 7.66% depending on the loan to value of the mortgage.
Don’t let the BoE juggle with your mortgage and your home
David Kuo, Head of Personal Finance, says: “The Bank of England is attempting a dangerous juggling act with the UK economy. It is hoping that tighter credit conditions will encourage more people to save, which in turn will bear down on spending.
Could the BoE provide a shock Christmas present?
Could the Bank of England (BoE) provide a shock Christmas present to borrowers? asks John Charcol
Brits choose Internet for expert advice
With over 60 per cent of UK households now online, Brits are turning to computers, instead of consultants and trusting ISPs rather than IFAs according to new research.
Co-operative Bank relaunches 25-year fixed rate mortgage
The Co-operative Bank is relaunching its 25-year fixed rate mortgage, with a market-leading rate of 5.95%. The new mortgage will be available from Monday 12th November and comes with the following features:
Lending for house purchases down
Higher borrowing costs contributed to a decline in gross lending in September, with the bulk of the impact being felt on lending for house purchase rather than remortgaging, according to data from the CML's regulated mortgage survey.
Britannia launches new 2 year fixed rate mortgage
Britannia Building Society are launching a new 2 year fixed rate mortgage on the 13 November 2007. The interest rate will be a low 5.39% with an arrangement fee of £1999.
GMAC-RFC launches new BBR tracker rates
Following on from yesterday’s base rate decision to hold rates at 5.75%, GMAC-RFC, the UK’s 10th largest lender, has reviewed its Partners product range and is replacing current Mainstream and Self-Cert discount rates with new BBR Trackers, in a bid to offer more competitive rates.
Bank rate held when the market badly needed a cut
Ray Boulger of leading independent mortgage adviser, John Charcol, says “The minutes of last month’s MPC meeting spelt out that the committee had seriously considered cutting Bank Rate, although the eventual vote was not close at 8 – 1.
Homeowners urged not to look to the BoE for guidance
David Kuo, Head of Personal Finance at Fool.co.uk, says, “We are not surprised that the Bank of England has again decided to leave interest rates unchanged given the uncertainty in the UK economy.
Self certification borrowers feeling the pinch
Julia Harris, Mortgage Expert at Moneyfacts.co.uk comments: “Risk limitation is the key feature of many of today’s mortgage changes. Subprime was the first casualty, with vastly tightened credit criteria and rate changes. Now it seems that the self certification market, both for prime and sub-prime borrowers is also beginning to feel the pinch.
HSBC announces top deal on re-mortgage tracker loans
HSBC is offering the best re-mortgage tracker rate of any top ten lender with a 5.98 per cent rate on loans up to 90 per cent LTV for home owners looking to reduce their mortgage payments for Christmas.