All Entries Tagged With: "Mortgage rate"
Northern Rock update: SVR is now 5.84 percent
Northern Rock joined a list of other banks and reduced its Standard Variable mortgage rate by the full 1.5 percent from 7.34 percent to 5.84 percent; this change will be effective from the first of December for all customers on existing Tracker Mortgage rate products.
The move came after the Bank of England cut its Base [...]
No collar clause in existing, RBS, Northern Rock and C&G mortgage deals
Royal Bank of Scotland (RBS) Bradford & Bingley, HBOS who own Halifax, Northern Rock, Nationwide Building Society all followed the lead from competitors Lloyds TSB and Abbey in passing the full 1.5 percent Bank England Base interest rate cut onto its customers.
Most homeowners who have either a mortgage loan that is attached to their banks [...]
Bradford & Bingley: Pass on interest cut to help Buy-to-Let
Bradford & Bingley agrees to pass on the Bank of England base interest rate cut but it will only benefit Buy-to-Let loans, product variable loans and Self-certification mortgages due to the lender not cutting its Standard Variable Rate (SVR).
Bradford & Bingley made the cut to its mortgage product range that generally charge much higher interest [...]
What Mortgage Rate will you pay? Bank Rate slashed to 3 percent
November 6. The Bank of England cut the interest rate by 1.5 percent, but will your bank pass the rate on? HSBC have said earlier this week that is was unlikely to pass the full rate cut onto its customers.
However HSBC, Barclays, NatWest, Royal Bank of Scotland (RBS) and Nationwide have all now announced [...]
US Mortgage Rates Rise: Applications fall
According to the Mortgage bankers Association, Mortgage applications in America that were filed last week tumbled a seasonally adjusted 20.3 percent compared to the week before, this was due to the rates on fixed rate mortgages increasing according to the report that was out on Wednesday.
The Washington-based Mortgage Bankers Association’s weekly report covers half of [...]
Mortgage rate increase: Abbey follows Halifax and Nationwide
Abbey will increase its Tracker rates tomorrow by 0.5 percent, ahead of the expected rate cut from the Bank of England’s Monetary Policy Committee on Thursday. The Spanish owned bank blames competitors repricing for its rate increase. However some would say they are pushing their rates up before the Bank of England reduces its rate [...]
Mortgage rates must shadow Bank of England rate cut
The Bank of England is set to slash rates by 0.75 percent later this week but this doesn’t necessarily mean that the banks will pass the rate cut onto customers. However Peter Mandelson Britain’s business minister has urged the banks to pass the rate cut on.
In a poll in Reuters last Thursday, it showed that [...]
30-year US Mortgage Rate Rise: 1/8 percentage point
In the US the 30-year mortgage rate average went 0.8 percent making the average with NO upfront points to be at 6.5 percent according to BestInfo Inc on Tuesday.
The US 30-year mortgage rate average with ONE up front point increased 0.8 percent making the average now at 6.25
Mortgage Rate Cuts: RBS, Abbey and NatWest all drop rates
Royal Bank of Scotland (RBS) which include NatWest have announced that they will be reducing several of its mortgage rates on fixed terms by between 0.35 percent and 0.6 percent. Abbey National Building Society has also said they will be lowering its three-year deal offering a new rate of 5.39 percent, with this deal you [...]
Update: US mortgage rate and applications
According to the Mortgage Bankers Association the average 30-year fixed rate mortgage averaged last week (end Oct 10) at 6.47 percent which was up from 5.99 percent the week previous.
A 15-year fixed mortgage rate averaged at 6.17 percent last week which is up from 5.71 percent for the week
HSBC beats other banks with a SVR at 6.25 percent
HSBC Bank PLC branded the world’s local bank made announcements yesterday that it will continue being the market leader with its Standard Variable mortgage rate 6.25 percent.
Immediately after the Bank of England decision to cut the base rate by 0.5 percent on the October HSBC follower by cutting its rate on its tracker mortgage by [...]
ANZ cut their fixed mortgage rate again
ANZ bank has made further cuts to its mortgage rate by lowering the interest rate in fixed mortgages by another 0.14 percent to 0.7 percent if you take out a loan for up to four years. If you decide on a fixed rate mortgage with ANZ then they will be offering the extra cuts from [...]
Will RBS, Lloyds TSB and HBOS do more for borrowers than Northern Rock?
Back when the Government used tax payer’s money for Northern Rock, the public was very unsure about the outcome. Now we are having another £37 billion of our money invested into banking giants HBOS, Lloyds TSB and RBS. But will they do more for its borrowers than Northern Rock?
Northern Rock will not pass on the [...]
ECB tracker mortgages withdrawn by NIB (National Irish Bank)
As banks change tracker mortgage rates in the UK it’s no different in Ireland as National Irish bank (NIB) have now announced that they are withdrawing its rate of ECB Tracker-based mortgage deals, this includes the popular LTV (loan to value) Tracker Mortgage.
National Irish Bank said this morning in a statement that the decision [...]
Nationwide increases mortgage rates by up to 0.3 percent
Nationwide Building Society has said that their tracker mortgage rates taken out from Tuesday will be increased by between 0.06 percentage points and 0.3 percentage points.
With the new mortgage rates in place a three-year tracker for someone who has a 10 percent