October 27, 2011
Barclays is extending its range of fixed-rate mortgage deals to 90% loan-to-value (LTV) from today, and including a fee-free three-year fix at 4.99%.
The new range, offered by the bank's Woolwich arm, also includes a 90% LTV five-year fix at 5.49%, ...
Barclays launches 90% LTV fixed-rate deals
Permalink: Barclays launches 90% LTV fixed-rate deals
by Gill Montia
October 20, 2011
Around 1.8 million borrowers whose fixed-rate mortgages have come to an end are currently saving approximately £2,600 a year each, through having reverted to their lenders' standard variable rates.
According to new research from the Council of Mortgage Lenders (CML), many ...
Standard variable rates save £2,600 a year
Permalink: Standard variable rates save £2,600 a year
by Gill Montia
October 12, 2011
Nationwide's buy-to-let subsidiary, The Mortgage Works (TMW) has launched a buy-to-let affordability app for mortgage brokers, suitable for downloading onto Android and BlackBerry smart phones.
The app entitled the “Buy to Let Affordability Calc”, is based on TMW’s “how much can be borrowed?” ...
TMW launches buy-to-let app
Permalink: TMW launches buy-to-let app
by Gill Montia
August mortgage lending lift
Permalink: August mortgage lending lift
by Gill Montia
October 10, 2011
Mortgage rates have fallen in the high LTV market, according to Moneyfacts.co.uk.
At 5.39%, the rate on the average two-year fix at 90% loan-to-value (LTV) is at its lowest since January 2008.
The average rate for a five-year fixed deal in the same LTV ...
High LTV mortgage rates drop
Permalink: High LTV mortgage rates drop
by Gill Montia
October 1, 2011
Major lenders have hiked their tracker rates and arrangement fees in the past week, according to mortgage broker, John Charcol.
Banks and building societies' own funding costs are to blame as London Inter-Bank Offered Rates (Libor), the rates at which lenders lend to ...
Eurozone crisis impacts mortgage costs
Permalink: Eurozone crisis impacts mortgage costs
by Gill Montia
September 29, 2011
The number of mortgages approved for house purchases increased to 52,410 in August, up from 49,644 in July and ahead of the previous six month average of 47,551, Bank of England figures show.
Approvals for remortgaging increased to 34,668 (July: ...
House purchase mortgage approvals up
Permalink: House purchase mortgage approvals up
by Gill Montia
September 26, 2011
The average age of the first-time buyer currently stands at 29, according to research from Halifax, but regional house price differences mean locations can be almost a decade adrift, when it comes to the age at which people buy their first homes.
...
Halifax identifies first-time buyer country
Permalink: Halifax identifies first-time buyer country
by Gill Montia
September 21, 2011
Gross mortgage lending came in at around £13.4 billion in August, up 6% on July and having risen 10% compared with a year earlier.
According to the Council of Mortgage Lenders, the monthly total is at its highest for over two years and ...
Mortgage lending subdued but stable
Permalink: Mortgage lending subdued but stable
by Gill Montia
Building societies act on repossessions
Permalink: Building societies act on repossessions
by Gill Montia
September 15, 2011
New lending for buy-to-let (BTL) has increased in each of the last three quarters, figures from the Financial Services Authority (FSA) show, accounting for 8.9% of overall residential lending in the second quarter of 2011.
The proportion is up 19% on the first ...
Buy-to-let lending hits record high
Permalink: Buy-to-let lending hits record high
by Gill Montia
Mortgage arrears at three-year low
Permalink: Mortgage arrears at three-year low
by Gill Montia
September 13, 2011
The Council of Mortgage Lenders (CML) has produced another lackluster set of figures, this time illustrating the extent to which the UK housing market lost ground in the year to end-July.
Compared with June, lending for house purchase rose by both volume and value ...
Mortgage lending loses ground
Permalink: Mortgage lending loses ground
by Gill Montia
September 9, 2011
A 10% fall in UK house prices would double the number of households in negative equity, to around 1.7 million.
The warning comes from financial outsourcer, HML, which estimates that 7.3% of households currently have a mortgage debt that exceeds their property's ...
Negative equity risk for 1.7m households
Permalink: Negative equity risk for 1.7m households
by Gill Montia
September 8, 2011
The Financial Services Authority has fined Essex-based mortgage lender Swift 1st Limited £630,000 for unfair treatment of some customers facing mortgage arrears.
The firm has also been ordered to provide redress to customers in arrears who were forced to pay excessive fees and charges, ...
Sub-prime lender Swift fined
Permalink: Sub-prime lender Swift fined
by Gill Montia
Low rates give mortgage borrowers £51bn
Permalink: Low rates give mortgage borrowers £51bn
by Gill Montia
September 5, 2011
In a report published today, a leading economic forecaster makes mention of a 5% overall fall in UK house prices in 2012.
The prediction is included in Ernst & Young ITEM Club's outlook for the UK banking sector, which notes that the ...
UK house prices face 5% fall
Permalink: UK house prices face 5% fall
by Gill Montia
September 2, 2011
Mortgage applicants temped to enhance their earnings to increase their chances of getting a home loan should be aware that lenders have joined forces with HM Revenue & Customer in an attempt to stamp out mortgage application fraud.
The move also gives ...
Mortgage fraudsters beware of verification scheme
Permalink: Mortgage fraudsters beware of verification scheme
by Gill Montia
August 31, 2011
New figures from the Bank of England show a £0.7 billion rise in mortgage lending in July, with the figure up 0.1% compared with June but failing to meet the previous six-month average increase of £0.9 billion.
Reflecting the overall stagnation ...
House purchase mortgage approvals nudge ahead
Permalink: House purchase mortgage approvals nudge ahead
by Gill Montia
August 25, 2011
House purchase lending in Scotland rose by more than the UK as a whole in the second quarter of 2011, according to new data from the Council of Mortgage Lenders (CML).
Scottish home buyers secured 11,300 loans worth £1.3 billion, with ...
Scottish housing market manages seasonal spurt
Permalink: Scottish housing market manages seasonal spurt
by Gill Montia