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- Council of Mortgage Lenders defends base rate discrepancy - 11th September, 2009
With the Bank of England's Monetary Policy Committee yesterday (September 10th) deciding to keep the base rate at 0.5 per cent, the Council of Mortgage Lenders (CML) has explained what it means for home loans.
While some reports from websites such as moneysupermarket.com claim that mortgage interest levels should not be so high when the base rate is at an all-time low, the CML claims it is not that simple... - Stamp duty increases home mortgage urgency - 8th September, 2009
Those looking to take out a home mortgage on a property valued at between £125,000 and £175,000 in the next few months should try and complete the transaction before the stamp duty holiday ends, according to one firm.
Santander believes that with the current stamp duty break coming to an end on December 31st this year and the average home mortgage application taking three months to be fully organised, people should be aiming to sort the loans out by September 30th... - Variable mortgage rates prove popular - 28th August, 2009
More people are opting for home loans with variable rates, according to new research by mortgage broker John Charcol.
Its customers are increasingly abandoning fixed-rate mortgages due to interest rises over the past few months, allowing deals with variable rates to gain ground... - Advice needed by home mortgage borrowers - 27th August, 2009
Those looking to take out a home mortgage or refinance their property still feel uncomfortable choosing a loan without consulting a professional first, new research has shown.
Conducted by Unbiased.co.uk, the report found that despite signs of recovery in the recession, the second quarter of 2009 saw a one per cent increase in the number of people seeking out help when choosing a home mortgage... - Swap rate decline not reflected in fixed-rate mortgages - 26th August, 2009
The interest on fixed-rate mortgages is still high despite a recent reduction in the cost of funding swap rates, according to new research.
Carried out by Moneyfacts, the study showed that typical two-year swap rates are now at 2.04 per cent, while fixed-rate mortgages are still being offered at an average of 5.18 per cent, indicating a discrepancy of over three per cent... - Home mortgage regulations 'unnecessary' - 24th August, 2009
The Association of Mortgage Intermediaries (AMI) has criticised a new report by the Financial Services Authority (FSA) which recommends the application of further regulations to stop the negative influence of foreign markets.
According to the FSA, subprime home mortgage lending needs to be curbed through additional legislation which prevents banks from giving money to those who cannot afford to pay it back... - Millions lack the mortgage finance to move home - 17th August, 2009
Independent adviser John Charcol has said that there are millions of UK homeowners who cannot move to a new property because of a lack of finance options from mortgage lenders.
Some 3.5 million people, around one-third of all home mortgage holders in the UK, are currently finding that lenders will not provide them with the subsidies they need to get out of their existing property, the broker said... - Mortgage lenders' arrears charges 'outrageous' - 12th August, 2009
A financial advice website has claimed that the level of charges attached to banking services for those in arrears on their home mortgage is unacceptable.
According to moneysupermarket.com, mortgage lenders are doing nothing to help borrowers whose debts are spiralling out of control and are even making their situation worse by piling on more fees... - Home mortgage deposits rise due to credit crunch - 11th August, 2009
New research has found that first time buyers are paying more upfront for a home mortgage because lenders have decreased the loan-to-value ratio of products in the past two years.
According to Moneyfacts, in August 2007 the average loan-to-value being offered was 91 per cent, but 24 months since the credit crunch began this figure has dropped to 74 per cent... - Treasury calls on mortgage lenders to help debt sufferers - 10th August, 2009
A new report by the HM Treasury Committee has called on mortgage lenders in the banking sector as well as the Financial Services Authority (FSA) to help those with spiralling debts due to home loans.
Research by the government organisation shows that more people are suffering from mortgage arrears and repossession of their homes because they are struggling to keep up with repayments in the tough economic climate...