Mortgage News
Below you will find news relating to mortgages. Get up to date information about the current mortgage market.
Mortgage Lending on the Rise For First Time Buyers.
Getting on the property ladder and securing a mortgage can be an arduous tasks for those looking to own their first home. With reports showing that young would-be homeowners may need a deposit of £60,000 by the end of the decade, the plight of the first-time buyer seems inevitable without support from parents or other financial [...]
The Rollercoaster Continues in the UK
It would certainly be an understatement to say that the last three years have been challenging. The biting recession, property prices nose-diving, lenders going bust and those that are left seemingly reluctant to lend have contributed to as great a sense of uncertainty as seen in two generations. The effect of the new Coalition Government’s [...]
New Mortgage Offers & the Best Way to Find Them
New mortgage offers are being released almost daily in the current climate. The best way to keep on top of the best deals and offers that are emerging is to either keep a very close eye on things yourself, or let someone else do it for you. Not everyone has time to keep searching and [...]
10 Year & 5 Year Fixed Rate Mortgages – Long term deals attract interest.
In uncertain financial times people develop a keen desire to protect their long term interests. Although interest rates are currently at an all time low and short term fixed rate mortgage offers below 3.5% are widely available, there is growing concern over the future highs to which interest rates could climb in the coming years, [...]
Fixed Rate Mortgages with No Fee – New Mortgage Offers
New fixed rate mortgage offers with no lenders arrangement fee have been launched today by Alliance & Leicester. This enhances their range of fee free mortgage solutions to include 3 and 4 year fixed rates. A&L now have a 2 year fixed rate offer with no fee at 4.29%, a 3 year offer at 4.69% [...]
Income Multiples for Mortgages
The income multiples used by mortgage lenders vary from one lender to another. Some are more ‘generous’ than others and will allow over five times the household income to calculate how much a customer can borrow. All lenders will also take into account a variety of factors as well as just a basic income multiple [...]
It’s Getting Harder to Qualify for a Mortgage
Banks and Building Societies are continuing to tighten the purse strings and reduce their exposure to risk. By cherry picking only the most suitable customers who neatly fit their strict criteria mortgage lenders are trying to safeguard their future and improve their own creditworthiness. Abbey are making it tougher for applicants by assessing their affordability [...]
Low Rate Fixed Rate Mortgages
Low rate fixed rate mortgages are becoming available once more with several lenders reducing rates more than once in recent weeks. Following a recent spate of rate reductions borrowers can now access a low fixed rate mortgage at just 4.69%. This low rate offer does however have a downside. The arrangement fee is 2.5% of [...]
Things are Looking Up for Buy-to-Let
In the space of a few months news reports have signaled the death of the Buy-to-let market, continuing gloom and doom and significant losses for recent would-be landlords. But the grey clouds have a silver lining. Most Buy-to-let properties are purchased using an ‘interest only’ mortgage. What this means is only the interest is repaid [...]
Rates Drop but For How Long?
It’s only been a matter of days since several mortgage lenders announced a drop in their rates but a number of consumers are likely to be annoyed at the circumstances which may have led them to secure a mortgage in recent weeks at a rate which puts them out of pocket compared to one they [...]
Equity release no longer a last resort
The UK equity release market is entering a crucial stage in its development and will play a greater role in retirement planning, according to a new report from Defaqto. However, the leading financial research company believes that consumer choice and confidence in equity release products is still limited by a lack of household names entering [...]
Save now, buy later
Britannia Building Society is helping first time buyers to save the deposit for their new home with its HomeSaver account. Designed to help those saving for a Britannia mortgage, HomeSaver pays a great rate of 6.55 per cent AER / Gross (from 2 December) on balances of £250. In addition, HomeSaver customers who complete a [...]
Helping on to the property ladder
Britannia Building Society is increasing its maximum mortgage term to 40 years continuing its commitment to fiirst time buyers. During the past year, the Society has placed greater focus on first time buyers with products such as its First Time Buyer mortgage and the Share to Buy scheme. Tim Franklin, Managing Director of Britannia’s Member [...]
Equity release plans increase in popularity
The members of UK equity release industry body, SHIP (Safe Home Income Plans), that represents over 90% of the Equity Release sector, have reported third quarter figures to 30 September 2006 that show the increasing popularity of equity release plans. The total value of new business written in Q3 2006 was £295.1 million, an increase [...]
First-time buyers get by with a little help from their friends
As first-time buyers are having an increasingly difficult time getting themselves on the first rung of the housing ladder, new research shows that many are opting to buy with friends. Continually increasing prices, competition from buy-to-let landlords and affordability pressures such as higher interest rates and rising fuel prices have put prospective buyers in a [...]
London property market most expensive in the world
The residential property market in London is now the most expensive in the world, according to CBRE Hamptons International. “Our research suggests prices currently achieved in the prime areas of Central London are the highest in the world when measured by price per square foot”, said CBRE Hamptons International, part of CB Richard Ellis Group. [...]
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