Yesterday the Prime Minister David Cameron promised that if the Conservatives win power in the general election, they would maintain low interest rates The low interest rates currently was a product of the Government's handling of the economy and would continue if their election victory was forthcoming The Government he said had set in place [...]
According to Mortgage Advice Bureau remortgages were up 24% in January and 17% year-on-year. Lower rates and increased equity resulted in lower mortgage payments Remortgage applicants are now enjoying lower loan to value deals with the average remortgage LTV at 54.9% Average mortgage rate have continued to fall across the board in January for a […]
In a poll organised by Mortgage Solution 55% of those who replied did not think that lenders would place a blanket cap on loan to income Over the last few months Barclays and Santander have introduced or extended LTI caps on some or all of their mortgage products. It was last year when the Bank […]
In order to take more market share Tesco plans to extend its distribution beyond its shop front to mortgage brokers for the first time next year. Tesco Bank has lent over £1bn worth of home loans since it started selling mortgages two and a half years ago, according to a report in the Telegraph. Tesco […]
Due to a variety of funding sources which have enabled lenders to raise capital at “exceptionally low cost”. fixed-rates and tracker mortgages are at record lows, the Council of Mortgage Lenders said, In it’s latest news and views publication, the industry body pointed out that its regulated mortgage survey revealed that last November for the […]
Use of disposable income to cover any shortfall in its rental cover calculation is now being allowed by Barclays as it loosens its buy-to-let lending criteria Up to now Barclays has used a rate of 5.79 per cent to assess affordability, as opposed to the mortgage rate itself. For example, a £200,000 loan on a […]
According to data from the Bank of England (BoE)mortgage approvals for house purchases fell to 60,275 in December suggesting a growing depression in the UK’s housing market. Mortgage loan approvals were down 17% in December compared to 72,343 in December 2013. Admittedly mortgage loan approvals slightly better on November where they reached 58,956, December approvals […]
According to the Centre for Economics and Business Research (CEBR),half of homeowners with variable rate mortgages aren’t aware that their repayments could rise next year. They say it has found widespread ignorance amongst the UK public. Despite the CEBR predicting a minimum total mortgage payment rise of £723.8m across the UK when rates rise, over […]
The building society’s interim results show that Nationwide gross mortgage lending has fallen by nearly £1bn. Nationwide says the economy is “becoming more tolerant to an increase in interest rates” but warns arrears rates are likely to increase for prime and specialists mortgages whenever interest rates do rise. Chief executive Graham Beale says Nationwide is […]
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