Mortgages
New mortgage deals for the undecided
The outlook for interest rates remains uncertain this week. Over the last few months an imminent rate hike has turned into a potential cut, but comments on Tuesday from the Governor of the Bank of England, suggesting that inflation is still a threat, mean that the next move is now anyone’s guess.
Opportunities for balance sheet lenders following the credit crunch
As the recent credit crunch forces lenders to reprice their mortgage rates and non conforming lending drops, traditional balance sheet lenders could look to take advantage and expand their business further into the non conforming arena, according to Spicerhaart Financial Services.
Bristol & West Mortgages help first time buyers get started
The number of first time buyers taking out mortgages in June 2007 has dropped by 4,000 on June last year, according to the Council of Mortgage Lenders.
Lloyds TSB to launch Track & Lock mortgage
A third of homeowners are ruling themselves out of benefiting from potential interest rate falls as they refuse to consider a tracker for their next mortgage deal.
Woolwich to launch 'Track and Track Again' mortgage
From October 11, 2007 Woolwich is launching a new product to take advantage of any future drop in interest rates as many commentators expect during 2008.
Demand for equity release plans rise
The demand for equity release plans by the British public shows little sign of slowing, revealsKey Retirement Solutions’ Market Monitor, which tracks activity in the UK equity release market.
Britannia launches new fixed rate mortgage deals
Britannia Building Society will launch the following mortgage products on Friday 12th October 2007:
IMLA: BBC Panorama programme transmitted 8 October 2007
Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association (IMLA), says: "IMLA and its members fully support the regulatory requirements of the FSA and in particular the duty to treat customers fairly, and we do not condone any mis-selling of mortgages.
Lending remains buoyant as affordability worsens
The total of gross lending in August was £34 billion, little changed from July's £34.1 billion and £1 billion higher than in August last year, according to the Council of Mortgage Lenders (CML).
Woolwich enhances buy to let lending policy
Woolwich has announced that it is enhancing its BTL lending policy to provide a simplified and more competitive approach to rental calculation in the BTL market.
First-time buyers imprisoned for three years
One in 20 first-time buyers may be imprisoned in their homes if house prices stagnate. According to Halifax house prices fell in September for the first time in nine months - the annual rate of house-price inflation is now 10.7% down from 11.4% in August.
Derbyshire IFS sets sights on equity release market
Key Retirement Solutions and Derbyshire IFS, the independent financial advice subsidiary of The Derbyshire Building Society, today announce an equity release client introduction partnership.
Abbey reduces rates on long term fixed rate mortgages
Abbey has announced new rates on a number of its long term fixed rate mortgages that will come into effect on Friday 5 October.
Paragon rejects IOD’s call to end mortgage interest tax relief on buy-to-let
In response to the Institute of Director's report on the tax status of buy-to-let investors, Nigel Terrington, chief executive of the Paragon Group, said: “The IOD misses the point that buy-to-let is a business activity in exactly the same the way as investment in commercial property.
Northern Rock axes over two thirds of its mortgage range
Julia Harris, Mortgage Expert at Moneyfacts.co.uk, comments: “From tomorrow, the extensive Northern Rock residential and buy-to-let mortgage range will see its number of products cut by over two thirds, in its first product change since seeking emergency funding from the Bank of England.