Mortgages
Big surge in tied products
The proportion of mortgages and regular savings accounts that are only available for people who have another product with the same provider has increased dramatically since the beginning of 2010, discouraging consumers from shopping around to get the best deals, finds new research from the experts at Which? Money.
Leeds launch self-build mortgage
Leeds Building Society has re-entered the self-build market with the launch of a new variable product specifically designed to help people build their own homes.
Northern Rock reduces longer term fixed rates
Northern Rock has improved its range of Everyday residential mortgages, offering more attractive longer term and Buy-to-Let rates, as well as reducing Buy-to-let product fees by up to 0.50%.
Yorkshire best buy mortgages for those with 10% deposit
Yorkshire Building Society is launching two new best buy mortgage deals for people who need to borrow up to 90% of the value of their home.
Coventry Building Society and Coventry City FC - a winning team
Coventry Building Society has become the official mortgage and savings partner of the Sky Blues. The new partnership was launched by Ray Ranson, chairman of Coventry City Football Club, and Mark Harrington, Savings Product Manager of the Coventry.
Yorkshire and Clydesdale Bank mortgage payments
Yorkshire and Clydesdale Bank are nearing completion of a mailing to approximately 18,000 variable rate mortgage customers apologising for an error in how their monthly payments were calculated, resulting in an underpayment occurring.
Self-cert mortgages less than 1% of broker business
Mortgage brokers are handling minimal levels of self-certification and sub-prime business, research from buy-to-let specialist Paragon Mortgages has found.
House purchases continue to lead the mortgage market
The latest charcol.co.uk mortgage index reveals that 6 out of 10 mortgages taken in June 2010 were for purchases. Drew Wotherspoon, director of marketing at charcol.co.uk, comments on this and other findings.
Gross mortgage lending up 15% in June
Gross mortgage lending in June was an estimated £13.1 billion, a 15% increase from £11.4 billion in May and a 7% increase from £12.2 billion in June last year, according to new data from the Council of Mortgage Lenders.
Coventry BS Flexx Capped mortgage at 3.99%
Coventry Building Society has launched a new range of competitively priced mortgage products including two Flexx Capped deals which allow unlimited over payments with no early repayment charges.
Majority of borrowers on lenders SVR free to switch
The number of mortgage borrowers now on their respective lenders' SVRs (Standard Variable Rates) is over 2.3 million, representing 28% of the total mortgage market, according to research by Yorkshire Building Society.
Yorkshire five-year fixed rate mortgage at only 3.99%
Yorkshire Building Society is reducing the rate on its five-year fixed rate mortgage to just 3.99% for those with a 25% deposit. The new product will offer the lowest rate for a five-year fixed deal ever offered by the Society.
Leeds reduces fixed rate, fixed fee buy to let to only 4.89%
Leeds Building Society has reduced its highly competitive 2-year fixed rate buy to let mortgage, which is available from only 4.89%.
Debt charity welcomes increased protection for homebuyers
Consumer Credit Counselling Service (CCCS) welcomes the ban on self-certified mortgages that has been proposed today (July 13) by the Financial Services Authority (FSA).
FSA proposes new mortgage rules
The Financial Services Authority (FSA) has outlined proposals to ensure all mortgages are carefully assessed to make sure borrowers can afford them.