Mortgages
More, but smaller, lifetime mortgages
The number of new lifetime mortgages (equity release loans to older home-owners) increased but the value of new lending fell in 2006, according to new survey information from the Council of Mortgage Lenders.
Just Retirement welcomes the advance of drawdown lifetime mortgages
Just Retirement, the specialist UK life assurance group focusing on the provision of solutions for people at and in retirement, responded to the announcement by SHIP of a significant increase in the proportion of drawdown equity release business.
Get into a fix fast with GE Money Home Lending
GE Money Home Lending (GEMHL) has today confirmed that despite the recent increase in the Bank of England (BOE) base rate in January, it has held rates on its fixed rate products across the igroup and First National ranges.
Mortgage repossessions rise in 2006
The number of mortgage repossessions rose from 8,140 in the first half of 2006 to 8,860 in the second half, according to figures released today by the Council of Mortgage Lenders.
Nationwide increase rates on fixed rate mortgages
Nationwide Building Society today announces an increase in rates on its range of fixed rate mortgages. The new rates are available from Thursday 1st February 2007.
Mortgages to help first time buyers
Leeds Building Society has launched a 100% fixed rate and Shared Ownership fixed rate mortgage specifically designed to help first time buyers (FTBs) onto the housing ladder and provide peace of mind, allowing them to budget safe in the knowledge that their mortgage payment will not increase.
Leeds Building Society launches new fixed rate mortgage range
Leeds Building Society has launched a number of new fixed rate mortgages.
Rate benefits of overseas mortgages at risk through uncompetitive currency transfers
Nearly a third of all Brits buying property in France are choosing French mortgage providers according to Crédit Foncier de France, France’s number one mortgage provider.
Britannia retains its fixed rates
Britannia Building Society has pledged not to pull any of its fixed rate products for a further week.
Coventry launches new flexible fixed rate mortgages
On Thursday 1 February, the Coventry introduces a range of new flexible fixed rate mortgages, including the only fixed rate buy to let product in the market without any early repayment charges.
Use the annual bonus to lower your mortgage
This year saw record city bonuses, in some cases millions of pounds. However even for the recipients of a more modest annual receipt, an overpayment into your mortgage can contribute to becoming mortgage free a lot sooner.
Chelsea’s change to SVR
Chelsea Building Society has announced an increase to its Standard Variable Rate from 6.99%, (typical APR 7.0% variable) to 7.24%, (typical APR 7.5% variable).
Sub prime borrowers hit with fee increases
Average interest rates on mortgages aimed at borrowers with poor credit ratings have increased by only 0.24 per cent in the past six months, according to MoneyExpert.com analysis.
Equity release market increases
The twenty one members of UK equity release industry body, SHIP (Safe Home Income Plans), that represents over 90% of the equity release sector, report fourth quarter figures to 31 December 2006 and full year results that show a healthy increase in new equity release plans sold and a steady years growth in drawdown business.
An end to sleazy clip-joint tactics
David Kuo, Head of Personal Finance at Fool.co.uk, says: “Some mortgage lenders have been taking unsuspecting borrowers for a ride by indiscriminately hiking mortgage exit administration fees (MEAFs). In some instances the hefty hike in charges has been well above the rate of inflation. Consequently, Fool.co.uk welcomes the intervention of the Financial Services Authority (FSA) to ensure that borrowers get a fair deal.