Cahoot sets up mortgage trial
We've researched the top mortgage sites saving you time & money.
www.openwebshopper.com
Your Mortgage brings you breaking news, tips and information on every aspect of mortgages in the UK. ... Mortgage best buys and tools. Use our unique range of free mortgage ...
www.yourmortgage.co.uk
Internet bank cahoot has announced that it is offering a set of mortgages, only available by telephone, in association with parent company Abbey.
The trial fixed rate, tracker and flexible mortgages will carry on until early next year and if the trial is successful then cahoot intends to produce its own independent mortgages, which should be available online as well as by telephone.John Goddard, managing director of cahoot, said: "With this new range of competitive mortgages, we're dipping our toe in the market and testing the demand for mortgages from cahoot.
"As these mortgages are currently only available over the phone, they will really suit people who are comfortable without face-to-face help from a mortgage adviser. These are some of the best rates on the market and we hope the trial will prove popular."
Each mortgage gives the customer a choice of either a lower booking fee and a higher interest rate or a higher booking fee and a lower rate.
The Flexible Plus mortgage also allows customers to make overpayments, underpayments and payment holidays and it has an offset facility, which reduces interest payments and enables borrowers to pay off their mortgage early.
© Copyright
Contains extensive mortgage and remortgage guides, tips, payment calculators, comparisons, and quotation services.
www.mortgages.co.uk
Fixed rate mortgages. Our fixed rate mortgages give you the security of a set monthly repayment for a specific period, regardless of how interest rates perform. ...
www.woolwich.co.uk
Provides mortgage rates, news, interactive calculators, and secure applications.
www.mortgages.ie
Related Articles
- Buy-to-let market encouraged by good mortgage deals - 10th October, 2005
More inventive and competitive mortgages are the main reason for the improvement in the buy-to-let market, according to more than half of buy-to-let intermediaries questioned.
The results from Mortgage Trust’s October Buy-to-Let Intermediary Forecast also pointed to strong rental demand and improved overall confidence in the housing market for the increase in landlords buying property... - Large growth in buy-to-let mortgage activity - 13th October, 2005
Landlords have stepped up their buying activities as a Mortgages Direct study shows a 50 per cent increase in their mortgage activity in September.
This means buy-to-let investors make up 12 per cent of people wanting to get a mortgage, reports the financial website in2perspective.com... - House prices on the increase - 6th October, 2005
The housing market seems to be picking up as property prices increased by 1.2 per cent in September....
- Nationwide lowers its mortgage reservation fees - 12th October, 2005
In an effort to encourage people to have longer-term secure mortgage payments, Nationwide Building Society is lowering its reservation fees for its five and ten year fixed rate mortgages.
From this Friday the reservation fee for these mortgages will be £199, reduced from £389... - New buy-to-let mortgage for holiday homes launched - 4th October, 2005
A self-funding holiday buy-to-let mortgage, a first for the UK, has been put on the market by Scarborough Building Society.
The possible rental income from the property will be the main factor in deciding if a person is eligible for the mortgage rather than his/her annual wages.
Therefore it will be easier to purchase a holiday home, as they are generally not part of standard buy-to-let mortgage schemes.
Tony Burdin, from Scarborough Building Society's, said that low interest rates and using rental income as an alternative to using pension funds were the key reasons for the increasing popularity of buying property to let.
He continued: "Holiday lets are no exception to this and, with the additional benefit of the valuable tax advantages holiday lets provide over buy-to-let properties, these new mortgages offer an exciting proposition for would-be landlords.
"We believe these products are the first ever self-funding mortgages in the UK specifically for holiday homes. This is a welcome development for people who may not have sufficient personal income to support significant loans on both their main and second homes."
To qualify for the mortgage, applicants must prove the property they wish to buy has the potential to produce annual rent worth at least 150 per cent of the mortgage repayments and they must receive an annual income of over £25,000 per year in regular employment... - New Shariah-compliant mortgage for landlords - 5th October, 2005
The mortgage market has developing increased variety with the launch of a new buy to let product for Muslim consumers.
Bristol & West and the Arab Banking Corporation have jointly developed a mortgage suitable for Muslim landlords.
While the product is in compliance with Shariah rulings on interest, Bristol & West reports that it possesses similar criteria to conventional mortgages and so remains competitive... - Stable interest rates could please mortgage holders - 5th October, 2005
Analysts are predicting the Bank of England will once again leave UK interest rates steady.
If their predictions are borne out October will be the second month running with interest rates constant at 4.5 per cent... - New re-mortgaging offer from Yorkshire Building Society - 13th October, 2005
Yorkshire Building Society (YBS) has launched a two-year mortgage specifically for people who are changing their mortgage but not moving house.
The mortgage has a fixed interest rate of 4.39 per cent and customers will receive a free re-mortgaging legal service and free accident, sickness and unemployment cover for the first six months... - RICS launches property auction guide - 7th October, 2005
The Royal Institution of Chartered Surveyors (RICA) has released a new guide to selling property at auction in order to simplify the increasingly popular process.
The top 20 UK auctioneers have reported a 16 per cent rise in the number of properties sold at auction during 2004... - New study reveals many young people can not afford mortgages - 11th October, 2005
Latest research shows that more than one million young people do not have enough money for even the cheapest homes in their area.
The research indicates that over 1.25 million people under 40 in England, Scotland and Wales have incomes too high to receive housing benefit if they live in rented housing, but too low to afford a mortgage on even the cheapest two or three bedroom homes...