All Entries in the "Mortgage News" Category

Northern Rock to increase mortgage lending by £14bn

Northern Rock has announced that they are to increase their mortgage lending over the next two years, this forms part of a plan from the Government in the hope of pulling the UK economy out of this deep recession that we find ourselves in.

30-Year fixed mortgage rate may fall to 4.75 percent or lower

According to the Mortgage Bankers Association mortgage rates are to fall much lower due to the Federal Reserve’s plan to buy securities. Although US mortgage activity fell 8.2 percent last week, the first fall in four weeks, with December figures reaching a 5 year peak.
The average 30 year fixed mortgage rate is at 5.07 percent [...]

Mortgage Rates: Are they cheaper after BoE cuts?

According to research for the Independent newspaper Mortgage rates are not any cheaper since Decembers rate cut of 1 percent.
Research shows that out of 1,000 available mortgage products that lenders have shaved the average fixed rate mortgage deal by just 0.14 percent, from 5.76 percent to 5.62 percent, showing us that the

Nationwide have agreed to reduce the collar on Tracker Mortgage

Nationwide Building Society has announced that it will be reducing the collar of 2.75 percent it has on existing tracker mortgage holders terms and conditions to 2 percent as a temporary concession.
Previously Nationwide had said that they would not cut the rate for existing Tracker Mortgage customers

RBS, Barclays, Abbey and HBOS dither to cut SVR

Royal Bank of Scotland (RBS), NatWest, Barclays (BARC.L), Santander owned (SAN.MC) Abbey and HBOS (HBOS.L) are still undecided if they will lower their Standard Variable Rates (SVR) after the Bank of England yesterday cut the base interest rate by 0.50 percent, however they all said that they will be passing

Nationwide, Lloyds TSB and HSBC new SVR

After today’s interest rate cut of half a percent only three lenders Lloyds TSB (LON:LLOY) mortgage arm Cheltenham & Gloucester (C&G), HSBC (LON:HSBA) and Nationwide have agreed to pass on the full rate cut to their Standard Variable Rate (SVR).
HSBC will pass on the full half a percent to its borrowers that are linked to [...]

How will the interest rate cut effect my mortgage?

4.2 million base rate tracker mortgage holders will be rejoicing in the Bank of England base rate cut today not everyone will be as happy, over fifty percent of homeowners are locked into a fixed mortgage deal and will not benefit from the cuts at all.
Anyone that took a fixed rate mortgage deal out [...]

HSBC and Lloyds TSB pass on the full interest rate cut

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HSBC (LON:HSBA) have announced that it would pass on the full half a percent interest rate cut to all its business customers and mortgage holders, this news comes after the Bank of England announced that they will cut the base interest rate to 1.5 percent slashing another half a percent off the rate.
The move by [...]

HSBC, First Direct and C&G withdraw tracker mortgages

HSBC (LON:HSBA), Cheltenham & Gloucester and First Direct have said they are withdrawing or making changes to their tracker mortgage rates ahead of the Bank of England decision on Thursday.
Lloyds TSB mortgage arm C&G have said it will be taking all off its trackers deals off of the market Wednesday night according to the mortgage [...]

Alistair Darling: We may just print more money

The Chancellor, Alistair Darling today confessed today in an interview with the Financial that the UK recession is much deeper than they had expected.
Darling, repeated himself several times describing the outlook as “difficult”, he also added that he may have to tear up his previous forecast on the economy. He also talked of how difficult

Government may force Northern Rock to issue more mortgages

Northern Rock the lender that was fully Nationalized last year by the British Government may have to boost the number of mortgages it issues, as rival lenders withdraw their finance facilities, according to a report.
Northern Rock has been in the process of reducing its mortgage book until now to repay taxpayers money. But according to [...]

2009 the right time to buy property in the US?

If you have a good credit rating, proof of a reliable income and manageable debts this is the perfect time to buy a property according to HSH Associates.
So forget all the doom and gloom surrounding the housing market and get searching for your bargain property, 30-year Mortgage rates have not been this low in the [...]

Citigroup: Britain is heading for a lengthy and deep recession

According to Citigroup (NYSE:C), UK house prices are to drop a further 15 percent in 2009, and UK companies will face a 45 percent drop in earnings as we head into a deep and lengthy recession.
With consumer spending in the UK tagged 80 percent to house prices over the last 25 years, compared

Lloyds TSB: Advises to check your home insurance in the big freeze

Check your insurance policy says Lloyds TSB Insurance after the cold spell has caused many water pipes to burst.
According to Lloyds TSB repairing burst water pipes can be extremely expensive, with the average repair costing about £1,400 and in some extreme cases costing up to £40,000 to

25 percent of all mortgage loans require 40 percent deposit

Mortgage lenders are insisting on larger deposits on their home loans, with December seeing an increase from 54 percent to 60 percent of new mortgage deals requiring 25 percent deposit according to MoneyFacts.
With the Bank of England announcing last week that banks and Building Societies will