Mortgages
RICS comment on CML regulated mortgage survey data
Commenting on the CML regulated mortgage survey data, Oliver Gilmartin, RICS senior economist said: "First time buyers should not assume that rates are at the top of the cycle. Any evidence that inflation pressures are persisting in the economy would see rates move higher for longer than currently expected.
Fixed rates more popular, affordability worse
With the issue of long-term fixed-rate mortgages high on the political agenda, new data from the CML shows that the appetite for short-term fixed-rate deals is still strong among first-time buyers and home movers.
Platform goes live on Mortgage Trading Exchange
Platform, the intermediary lender of Britannia, is delighted to announce it is now live on Mortgage Brain’s Mortgage Trading Exchange (MTE).
Halifax increases mortgage rate
Following the announcement by the Monetary Policy Committee of an increase in the Bank Base Rate, Halifax will be increasing its standard variable rate (SVR) from 7.50% to 7.75%.
First time buyers swap smokey lungs for property rungs
Abbey Mortgages believes Britain’s public smoking ban could inadvertently help thousands of first time buyers get a foot on the property ladder.
Mortgage misery as monthly payments are missed
Mortgage customers are feeling the pain as interest rates rise with more than 460,000 missing monthly payments in the past six months, new MoneyExpert.com research shows.
Offsets make sense after the base rate rise
moneysupermarket.com has found offset mortgages are an excellent option for savers with over £12,500, and they could be the best way to negate the effects of at least two more base rate rises.
Monthly repayments increase for first time buyers in Wales
Peter Griffiths, chief executive of Principality Building Society, said: “This latest rate rise from the Monetary Policy Committee (MPC) to 5.75% is clearly a reaction to inflationary pressures.
Bank piles on mortgage woes with further rate rise
Commenting on the widely anticipated quarter of a point increase in UK interest rates to 5.75%, the fifth such rise in the last year, Paul Niven Head of Asset Allocation at F&C said: "The move is no surprise and had been fully discounted by markets.
Rate rise stretches affordability but first time buyers undeterred
With July’s rate rise, affordability is further stretched, but it won’t deter many first time buyers, according to new report.
Kensington helps first-time investors
Kensington is helping first-time investors to enter the buy to let market, with the launch of its new Self-Cert Buy to Let product.
Mortgage burden soars for first time buyers
The house price boom and rising interest rates mean that first time buyers across the country are now paying almost a third of their total household take home income on their mortgages.
AMI comments on FSA sub-prime results
The Financial Services Authority (FSA) has today (4 July) published the results of its thematic work into the behaviour of intermediaries and lenders in the sub-prime mortgage market.
CML responds to FSA mortgage market findings
The Council of Mortgage Lenders welcomes today's finding from the Financial Services Authority that firms do not appear to be incorrectly selling sub-prime mortgages to prime customers.
Citizens Advice comment on sub-prime market
Sue Edwards, Citizens Advice, said: “Citizens Advice welcomes the work of the FSA in its review of the behaviour of intermediaries and lenders in the sub-prime market.