Category: Mortgages
The analysis published under this category are as follows.
Friday, May 03, 2013
UK Interest Only Mortgage Mis-Selling Scandal - How to Claim Compensation / Housing-Market / Mortgages
By: Nadeem_Walayat
First worthless payment protection insurance, then crushing interest rate swaps on small businesses and now the latest unfolding mis-selling scandal that could dwarf them all is the one of over 3 million interest only mortgages taken out by would-be home buyers during the housing boom years as desperate buyers were forced to over leverage themselves to get themselves onto the housing ladder.
Thursday, April 25, 2013
UK Mortgage Market Record Low Fixed Interest Rates, Current Best 5 Year Mortgages / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts research has revealed a shift in the mortgage products lenders want to sell as the number of five-year fixed rate mortgages increased by 73% in the last 12 months.
By comparison, the traditionally popular two-year fixed rate mortgages have only increased by 33%.
Read full article... Read full article...
Tuesday, March 05, 2013
UK Mortgage Market Set for Major Change / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts research reveals that the mortgage market has literally turned on its head in the last five years.
In 2008, everyone wanted to sell to first-time buyers (FTBs); out of 2,096 mortgage products, 957 were aimed at anyone with at least a 10% deposit and only 24 mortgages sought those with a large deposit.
Read full article... Read full article...
Wednesday, February 20, 2013
UK Mortgages Hit Lowest Interest Rates Ever! / Housing-Market / Mortgages
By: MoneyFacts
Fixed mortgage rates are dropping like stones, Moneyfacts research reveals. Rates started a slow descent shortly after the Government’s Funding for Lending Scheme (FLS) began last August and have picked up speed with new ‘best ever’ deals coming onto the market almost daily.
We are currently experiencing the lowest two, three and five year average fixed rate mortgages seen since their launch in 1989.
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Thursday, December 20, 2012
When to Pay Off Your Mortgage / Housing-Market / Mortgages
By: Casey_Research
My good friend Rob recently paraphrased Warren Buffett as saying, “If he knew where he was going to live for the next decade, he’d buy a house with a long-term mortgage.” Buffett thought a mortgage was a good hedge against inflation, because the homeowner would pay off the mortgage with cheaper dollars down the road.
Read full article... Read full article...
Monday, April 23, 2012
UK Mortgages Fixed Interest Rates Plummet / Housing-Market / Mortgages
By: MoneyFacts
The average rate of a five year fixed mortgage has decreased over the past year, from 5.59% to 4.86% today.
Read full article... Read full article...
Tuesday, April 03, 2012
UK Interest-only mortgage house arrest / Housing-Market / Mortgages
By: MoneyFacts
There has been a sudden surge in lenders reducing the LTVs on interest-only mortgages to just 50%, placing them firmly out of the reach of the majority of borrowers.
Lenders cite this as ‘prudent’ borrowing but anyone who currently has an interest-only mortgage at a higher LTV than 50% needs to consider their limited options quickly.
Read full article... Read full article...
Monday, April 02, 2012
Falling UK Mortgage Interest Ratesm, Should Borrowers Rejoice? / Housing-Market / Mortgages
By: MoneyFacts
The Bank of England base rate has remained at an all-time low of 0.50% for three years, the longest hold for 60 years.
Moneyfacts research shows that as the current economic climate took hold three years ago the average deposit needed for a mortgage rose to 40%. Currently it hovers around the 25% mark, thanks to an increase in higher loan-to-value deals.
Read full article... Read full article...
Thursday, February 23, 2012
Investing in Mortgages Makes Sense While Fed Supresses Yields / Interest-Rates / Mortgages
By: Bloomberg
PIMCO founder and co-CIO Bill Gross spoke with Bloomberg Television's Trish Regan, Lisa Murphy and Adam Johnson today about where to invest, the ETF PIMCO is launching next week and the state of the economy.
Gross said that investing in "mortgages make sense" as "yields are not going anywhere for the next two or three years."
Read full article... Read full article...
Thursday, February 16, 2012
Moneyfacts UK Mortgages and Savings Picks of the Week / Personal_Finance / Mortgages
By: MoneyFacts
The Moneyfacts Pick of the Week showcases the best of the latest products to hit the consumer finance market.
Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.
Read full article... Read full article...
Tuesday, January 17, 2012
Demand Outweighs UK Mortgage Choice / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts research of the residential mortgage market reveals the choice of mortgages on offer has increased from 2,527 to 3,180 over the last 12 months. At the peak of the banking crisis in 2009, the number of mortgages fell to just 1,209.
The increase in numbers came despite a combination of rises and falls across the range of the loan-to-value tiers. Today, the 60% loan-to-value tier offers the most choice but the high deposit required limits its attraction.
Read full article... Read full article...
Monday, November 14, 2011
Mortgages for the 'Middle-Rich' Are Class Warfare Ammunition / Housing-Market / Mortgages
By: Money_Morning
Shah Gilani writes:
For weeks now I've been telling you the markets are broken.
Now I'm going to prove it.
Today I'm talking about the housing market. It's broken. The truth is Congress broke it. Of course, it had help from mortgage originators, banks, and a deliriously greedy public.
Read full article... Read full article...
Wednesday, November 09, 2011
U.S. Mortgage Rates are Low, But Are Bankers Willing to Extend Mortgages? / Housing-Market / Mortgages
By: Asha_Bangalore
The 30-year fixed rate mortgage was quoted at 4.0% as of November 4, the lowest since 1971 (see Chart 3). Home prices are attractive as they have declined 32% from the peak in 2006.
Read full article... Read full article...
Wednesday, August 17, 2011
UK Mortgage Fees Rise 17% in a Year / Housing-Market / Mortgages
By: MoneyFacts
The average mortgage arrangement fee has increased by £151 over the last year – a rise of 17%.
In August 2010 the average fee was £879, today it stands at £1,030.
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Wednesday, August 10, 2011
UK Mortgage Fixed Interest Rates Continue to Fall / Housing-Market / Mortgages
By: MoneyFacts
For the first time since Moneyfacts started recording rates in 1988 the average five-year fixed mortgage rate has fallen below 5%, today standing at 4.99%.
In the last 29 months since bank base rate has been on hold at 0.50%, the average five-year fixed mortgage rate has stood as high as 6.24% (September 2009).
Read full article... Read full article...
Monday, July 25, 2011
UK Capped Rate Mortgage Deals Analysis / Housing-Market / Mortgages
By: MoneyFacts
In the last two years the number of capped mortgage deals has increased from just one to 39.
Lenders such as Coventry Building Society, first direct, The Mortgage Works and Woolwich from Barclays are currently offering capped mortgages.
Read full article... Read full article...
Thursday, June 09, 2011
Hope for First-time Home Buyers as Mortgage Products Treble / Housing-Market / Mortgages
By: MoneyFacts
The number of mortgage products available to first-time buyers has almost trebled since June 2009. There are currently 183 deals designed for those taking their first steps onto the property ladder, compared to just 62 in June 2009.
Read full article... Read full article...
Monday, May 09, 2011
UK Mortgage Interest Rate Fall Below 6.00% / Housing-Market / Mortgages
By: MoneyFacts
The average rate for would be mortgage borrowers with just a 10% deposit has fallen below 6.00% for the first time since March 2008.
Today the average rate for a two year fixed mortgage at 90% LTV stands at 5.98%, 0.40% lower than a year ago.
Read full article... Read full article...
Monday, March 07, 2011
U.K. Tracker Interest Rate Mortgages Fall to All Time Low / Housing-Market / Mortgages
By: MoneyFacts
The average rate on a two year tracker mortgage has fallen to 3.40%, its lowest level since Moneyfacts started monitoring rates in 1988.
Read full article... Read full article...
Monday, February 21, 2011
Best Sources for UK Mortgages, Biggest isn’t always best! / Housing-Market / Mortgages
By: MoneyFacts
The UK’s largest lenders* have a three quarter market share, but only provide 145 (29%) of the top 500 mortgages.**
Just six of the top 50 two year fixed/85% LTV mortgages are offered by the largest lenders, equating to a mere 12%.
Read full article... Read full article...
Wednesday, February 16, 2011
UK Mortgage Market Improves as Higher LTV Mortgages Increase / Housing-Market / Mortgages
By: MoneyFacts
The mortgage market has seen a gradual increase in the number of products offering higher loan-to-values (LTVs), providing some relief to borrowers with limited deposits.
Read full article... Read full article...
Tuesday, February 08, 2011
UK Fixed Mortgage Interest Rates Hit 6 Month High / Interest-Rates / Mortgages
By: MoneyFacts
Average mortgage rates today stand at their highest level in six months as lenders pass on rising funding costs to borrowers.
The cost to lenders of raising funding on the swap rate market has soared in recent months. At the end of November, the two-year swap rate stood at 1.35%, today it stands at 1.98% - 47% higher.
Read full article... Read full article...
Monday, November 29, 2010
UK Mortgages Falling Demand Despite Falling Interest Rates and More Products / Housing-Market / Mortgages
By: MoneyFacts
Over the last year the number of mortgages available to borrowers has grown significantly, with borrowers who have a 20% deposit or less seeing the biggest improvements.
At the same time, rates continue to fall, with the average two, three and five year fixed rates all standing at the lowest level seen since Moneyfacts records began in 1988.
Monday, October 11, 2010
Top Tips for Remortgaging Your House / Housing-Market / Mortgages
By: Credit_Choices
If you want to change your mortgage deal, the way to do this is by remortgaging. You can either change your deal but stay with your current mortgage provider or change to a different mortgage provider altogether.
Read full article... Read full article...
Tuesday, October 05, 2010
How To Decide Between Fixed-Rate and Tracker Mortgages / Personal_Finance / Mortgages
By: Credit_Choices
One of the biggest decisions to make when taking on a mortgage is whether to go for a fixed-rate mortgage or a tracker mortgage. You need to consider your own personal circumstances, and all the potential outcomes of being signed up to each kind of mortgage.
Tuesday, October 05, 2010
Top Tips For Switching Between Mortgage Deals / Personal_Finance / Mortgages
By: Credit_Choices
If your mortgage deal is no longer competitive, it may be time to switch. However, choosing the wrong mortgage could cost you thousands of pounds a year. Here are the most important things to consider when planning to switch mortgages.
Friday, September 17, 2010
Mortgage Repayment Protection, Is it worth it? / Personal_Finance / Mortgages
By: Credit_Choices
Mortgages were seen in the boom years as a foolproof way of borrowing, leading to inevitable profits from soaring house prices. Now the recession has hit, many people are struggling to repay their mortgages by themselves - this is where mortgage protection comes in.
Thursday, August 19, 2010
Banks Enjoying Record Profit Margins on UK Mortgages at Borrowers and Tax Payers Expense / Housing-Market / Mortgages
By: Nadeem_Walayat
Britain has been increasingly operating under an artificial tax payer supported banking system for the past 2 years that exists primarily to funnel tax payer cash onto the balance sheets of the bailed out bankrupt banks by means of capital injections, artificially low interest rates to generate unprecedented margins on loans against savings rates that persistently pay significantly below the rate of inflation and many other mechanisms such as Quantitative Easing which allows banks to borrow from the Bank of England at 0.5% and invest in longer dated government bonds at zero risk at 3.5%, thus generating a 3% risk free profit on tax payer cash.
Thursday, August 12, 2010
First Time Buyers are Seizing the Moment Get Mortgages / Housing-Market / Mortgages
By: MoneyFacts
The First Time Buyer mortgage market has seen an increase in activity of late. Latest figures released by the Council of Mortgage Lenders have shown a 20% rise in approvals for first time buyer mortgages in June.
Moneyfacts research shows that the current average two year fixed first time buyer rate for borrowers with a 10% deposit is 6.15%, down from 6.48% six months ago.
Read full article... Read full article...
Tuesday, August 03, 2010
Another New U.S. Mortgage Fee, Five Golden Rules for Applying for Mortgages / Personal_Finance / Mortgages
By: Amber_Dakar
If you’re in the market to buy a new home, be aware that the U.S. Treasury Department is considering a new mortgage fee to fund the backstops it gives for loans purchased through Fannie Mae and Freddie Mac.
Analysts say the fee may be up to 1.5 percent of the borrower’s mortgage, which would be a big increase from the current 0.25 percent that both Fannie and Freddie currently charge mortgage borrowers. Plus, it remains to be seen if this new charge would be in addition to that current charge!
Read full article... Read full article...
Tuesday, July 20, 2010
Are Increased Bank Mortgage Market Margins Here to Stay? / Housing-Market / Mortgages
By: MoneyFacts
Fixed mortgage rates continue to fall as lenders try to tempt borrowers off record low variable deals.
While borrowers are benefiting from the lowest rates in seven years, lenders are continuing to take record margins.
Read full article... Read full article...
Monday, June 21, 2010
UK Mortgage Interest Rates At 7 Year Low / Housing-Market / Mortgages
By: MoneyFacts
The average rate on two year fixed rate mortgages has fallen to 4.52%, its lowest level since September 2003, when the average stood at 4.51%.
Read full article... Read full article...
Thursday, May 27, 2010
UK Tumbling Mortgage Interest Rates Are Still No Incentive to Borrowers / Housing-Market / Mortgages
By: MoneyFacts
Mortgage rates are being cut, lending criteria is steadily being loosened and product availability is improving. It appears to be a perfect platform to host a resurgence in a struggling mortgage market, but it looks as if there is still little incentive for borrowers to commit to a new deal.
Read full article... Read full article...
Wednesday, May 19, 2010
Buy-to-let Mortage Market Sector Begins Fight Back From Credit Crisis / Housing-Market / Mortgages
By: MoneyFacts
The buy-to-let (BTL) sector was one of the biggest casualties of the credit crisis. At its lowest point (September 2009) 95% of all deals available at the peak of the market (August 2007) were withdrawn.
However, the BTL market has now started its fight back.
Read full article... Read full article...
Wednesday, May 05, 2010
UK Slowly Improving Mortgage Products Market / Housing-Market / Mortgages
By: MoneyFacts
The average shelf life of a current mortgage deal now stands at 30 working days, the longest since August 2007, when the market was heavily subscribed with 9,549 products.
Could this be an indication that we are nearing the end of a volatile mortgage market and is there is still scope for more competition or are lenders waiting patiently to see what intentions a new Government may have?
Read full article... Read full article...
Tuesday, April 27, 2010
U.K. Mortgage Interest Rates at Lowest Level in a Year / Interest-Rates / Mortgages
By: MoneyFacts
When bank base rate dropped to 0.50% last year the mortgage market entered unchartered waters. Initial reductions in mortgage rates were soon wiped out as lenders took an increasing margin for risk.
Tuesday, March 16, 2010
Jump in UK Mortgage Products Availability / Housing-Market / Mortgages
By: MoneyFacts
When the financial crisis hit, the mortgage market haemorrhaged products hitting a low of 1,209 on 1 April 2009.
Since then, lenders have become accustomed to the post financial crisis world and the number of products available has steadily risen, hitting 2,053 today (a 70% increase).
Read full article... Read full article...
Monday, March 08, 2010
Tax Payer Bailed Out Banks Over Charging on Mortgage Interest Rates / Interest-Rates / Mortgages
By: MoneyFacts
Last week saw the one year anniversary of the Bank of England dropping its base rate to the historic low level of 0.50%.
During the last year some of the biggest lenders increased competitiveness, while others appear less willing or able to do so.
Read full article... Read full article...
Thursday, February 11, 2010
Not All UK Fixed Rate Mortgages Are Decreasing / Interest-Rates / Mortgages
By: MoneyFacts
Latest Moneyfacts.co.uk figures show that while fixed mortgage rates are falling, they are only doing so for those with significant equity.
The average two year fixed rate for a borrower with a 10% deposit has increased steadily since April 2009, now standing at 6.48%, the highest level since December 2008.
Read full article... Read full article...
Monday, January 25, 2010
UK Best and Worst Standard Variable Interest Rate Mortgages / Interest-Rates / Mortgages
By: MoneyFacts
Base rate has been at an all time low of 0.50% for the last ten months and with no incentive to move on to a new deal, increasing numbers of borrowers have moved onto their lenders’ standard variable rate (SVR).
While some borrowers benefit from the cut in base rate being passed on in full, others have not been so fortunate, with a difference of £5,670 between the cheapest and the most expensive lenders.
Read full article... Read full article...
Wednesday, January 06, 2010
UK Mortgage SVR Interest Rate Increases Gather Pace / Housing-Market / Mortgages
By: MoneyFacts
Since April 2009 the Bank of England has kept base rate on hold at 0.50%, but since that time eight mortgage providers have increased their standard variable rate (SVR).
Read full article... Read full article...
Tuesday, December 08, 2009
Banks Cut UK Mortgage Interest Rates / Interest-Rates / Mortgages
By: MoneyFacts
Mortgage lenders have continued to cut fixed rates, causing the average two year fixed mortgage rate to continue to tumble.
Last week Moneyfacts.co.uk reported that the average two year fixed had fallen below 5.00% for the first time since June 2009, but since then rates have fallen further, standing at 4.86% today.
Read full article... Read full article...
Thursday, December 03, 2009
Mortgage Lenders Target Short Term Fixed Interest Rate Deals / Personal_Finance / Mortgages
By: MoneyFacts
Lenders have become accustomed to the post banking crisis world: indeed, the signs from the mortgage market indicate that credit conditions are easing and that lenders are more willing to lend.
Read full article... Read full article...
Monday, November 23, 2009
Average Two Year Fixed Mortgage Interest Rate Falls to Lowest Since June / Interest-Rates / Mortgages
By: MoneyFacts
The average two year fixed has fallen to 4.99%, the first time it has been below 5.00% since 23 June 2009.
A string of rate rises during July saw the average quickly rise, peaking at 5.21% by the end of the month.
Read full article... Read full article...
Thursday, November 12, 2009
UK Mortgage Rip Off, Interest Rates Need to Fall Further / Housing-Market / Mortgages
By: MoneyFacts
In the last few weeks a number of lenders including Abbey, Halifax, Leeds BS, Nationwide BS, Northern Rock and Woolwich have made moves to cut mortgage rates, but rates are still a long way of the low reached earlier in the year.
Read full article... Read full article...
Thursday, October 22, 2009
Affordable Mortgage Interest Rates / Interest-Rates / Mortgages
By: LiveCharts
Neil Kokemuller writes: While most banks aren’t currently offering rates at the historically low levels seen earlier this year, overall, mortgage rates are still very affordable. According to bankrate.com, the national average cost for a 30-year fixed rate loan Wednesday (October 21) is 5.23 per cent, compared to 4.99% one week ago.
Read full article... Read full article...
Monday, October 19, 2009
FSA Sets Out Major Reforms For The U.K. Mortgage Market / Housing-Market / Mortgages
By: Submissions
The Financial Services Authority (FSA) today sets out proposals for the major reforms required in the UK mortgage market to ensure that it works better for consumers and is sustainable for all market participants.
Tuesday, October 13, 2009
The Demise of the Self-certification Mortgage / Housing-Market / Mortgages
By: MoneyFacts
The Financial Services Authority’s mortgage market review is due out next week and expectations are that the City regulator will bring new self-certification mortgages to a final end.
Read full article... Read full article...
Friday, October 02, 2009
UK Housing Market Mortgage Products Start to Stagnate at Higher Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
The dust looks to have begun to settle on a volatile mortgage market, as the availability of a current mortgage deal lengthened from 18 to an average of 24 working days during September, the longest since October 2007.
Read full article... Read full article...
Monday, September 21, 2009
Fewer Mortgage Options for First Time Home Buyers / Housing-Market / Mortgages
By: MoneyFacts
Risk remains the overriding factor in setting mortgage rates, with competition amongst lenders continuing to take a back seat.
Borrowers with a 10% deposit have seen just a 0.12% drop in the average mortgage rate, despite the cost of funding to lenders falling 4.35%.
Read full article... Read full article...
Monday, September 14, 2009
UK Housing Market Boosted by Increase of Mortgage Products / Housing-Market / Mortgages
By: MoneyFacts
The number of residential mortgages available is slowly increasing, but still the market is dominated by deals for customers with more than a 25% deposit.
On 1 April 2009 the number of mortgages available hit rock bottom at just 1,209, a 90% drop from the peak of 11,951 products available in July 2007. Today there are 1,392 products available.
Tuesday, August 25, 2009
Banks Continue to Squeeze Mortgage Borrowers as Fixed Rate Mortgage Margins Increase Again / Housing-Market / Mortgages
By: MoneyFacts
Mortgage lenders are showing continuing reluctance to reduce the cost of fixed rate mortgages, despite around a 30 basis point reduction in the cost of funding on the swap rates market.
Read full article... Read full article...
Monday, August 10, 2009
UK Housing Market Mortgage Products Crash / Housing-Market / Mortgages
By: MoneyFacts
Borrowers need to find three times more for a deposit, compared with two years ago when the credit crunch began.
The average LTV has fallen from 91% in August 2007, to 74% today. As a result the average deposit required on a £150,000 mortgage has increased from £13,500 to £39,000.
Read full article... Read full article...
Tuesday, July 21, 2009
Mortgage Lenders Desert Long Term Fixed Rate Mortgages / Housing-Market / Mortgages
By: MoneyFacts
This week sees Manchester BS withdrawing its 30 year fixed rate mortgage, meaning that borrowers can no longer fix their mortgage repayments for more than 15 years.Read full article... Read full article...
Thursday, July 09, 2009
Nationwide Responds to Criticism of 125% LTV Mortgage Lending / Housing-Market / Mortgages
By: Nationwide
As a responsible lender which aims to support its borrowers Nationwide has responded to market conditions and made an option available which enables some existing customers in negative equity to move home. This is not available to new customers. The maximum LTV for existing customers taking a new deal at Nationwide remains at 95%.
Read full article... Read full article...
Thursday, July 09, 2009
Fixed Mortage Interest Rates Still Rising / Interest-Rates / Mortgages
By: MoneyFacts
The cost of fixed rate mortgages continues to rise, even though swap rates have continued to fall during the past month.Read full article... Read full article...
Monday, June 29, 2009
UK Average Fixed Rate Mortgage Interest Rate Hits 6.00% / Housing-Market / Mortgages
By: MoneyFacts
The rising cost of fixed rate mortgages continues as the average five year fixed rate mortgage today hits 6.00%, the highest level since 22 December 2008.
In the last month the average five year fixed has increased by 0.43%, while the average two year fixed has increased by 0.41% to 5.08%.
Read full article... Read full article...
Thursday, June 18, 2009
UK Fixed Rate Mortgages Interest Rate Increases / Interest-Rates / Mortgages
By: MoneySupermarket
Louise Cuming, head of mortgages at moneysupermarket.com, said: "There has been a flurry of activity in the mortgage market, but unfortunately mostly to the detriment of borrowers.Read full article... Read full article...
Monday, June 15, 2009
Fixed Rate Mortgage Interest Rates About to Rise / Interest-Rates / Mortgages
By: MoneySupermarket
- Rising swap rates may herald a new wave of costlier fixed rate mortgage deals
- Two years of decreasing fixed rates have to come to an end
Friday, June 12, 2009
New Lloyds TSB First Time Buyer Mortgage / Housing-Market / Mortgages
By: MoneySupermarket
Commenting on the new Lloyds TSB First Time Buyer mortgage, Clare Francis, site editor at moneysupermarket.com: "This is a great product to help first time buyers get on the housing ladder - not only is the rate competitive, but it's really good to see some new activity in the high Loan To Value (LTV) market. It is another indication that funding pressures on lenders may, at last, be starting to ease.
Read full article... Read full article...
Wednesday, June 10, 2009
HSBC Mortgage Rate Matcher / Personal_Finance / Mortgages
By: MoneySupermarket
Commenting on the new HSBC Mortgage Rate Matcher, Louise Cuming, head of mortgages at moneysupermarket.com, said; "Again HSBC is leading from the front. It has been clear for some time that HSBC is looking to cement its place as a serious player in the mortgage market, and the combined effect of this and the April announcement of £1bn of funding for its 'up to 90% LTV' product range, shows real commitment to this goal.
Read full article... Read full article...
Tuesday, June 09, 2009
Mortgage Borrowers Suffer as Lenders Charging Extortionate Interest Rates / Interest-Rates / Mortgages
By: MoneySupermarket
Despite the Base Rate continuing to hold at 0.5 per cent, providers are increasing average mortgage rates, and the margin above the Libor rate is rising, proving that the Bank of England is increasingly toothless when it comes to regulating the cost of mortgages, with lenders increasing profit margins at the expense of their customers.
Read full article... Read full article...
Sunday, June 07, 2009
Mortgage Lenders Fail to Pass On Base Interest Rate Cuts / Housing-Market / Mortgages
By: MoneySupermarket
Whilst the Bank of England has slashed interest rates by 4.5 percentage points since October, taking the base rate from 5.0 per cent to 0.5 per cent, mortgage lenders have failed to pass the cuts on in full to their existing customers, despite the Government urging them to do so.
Thursday, May 28, 2009
Mortgage Market Locks Up as Interest Rates Soar / Interest-Rates / Mortgages
By: Mike_Shedlock
Yesterday 10 year treasury yields went soaring and the mortgage market literally seized up. Mark Hanson at the Field Check Group has this report that I can share.
Tuesday, May 19, 2009
Mortgage Lenders Increase Margins on Fixed Rate Mortgages / Personal_Finance / Mortgages
By: MoneyFacts
The cost of the average fixed rate mortgage has risen in the last month, with borrowers looking for longer term mortgages being hardest hit.Read full article... Read full article...
Wednesday, May 06, 2009
Banks Fear Housing Market Crash as Mortgage Providers Target 40% Deposit / Housing-Market / Mortgages
By: MoneyFacts
The number of new mortgages requiring a minimum of 40 per cent deposit has increased by 61 per cent in the last six months.
The number of mortgages requiring a 10 per cent deposit has decreased by two thirds in the last six months.
Read full article... Read full article...
Friday, April 10, 2009
How To Take Advantage of Low Mortgage Interest Rates / Interest-Rates / Mortgages
By: Mike_Shedlock
President Obama declares "good news" and says Timing right for millions to refinance . Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans.
Read full article... Read full article...
Sunday, March 22, 2009
Banks Vs Building Societies for Mortgages and Savings / Personal_Finance / Mortgages
By: MoneyFacts
Banks have taken over the mantle from the building societies by offering the most competitive overall deals on both savings and mortgages.
The building societies had offered the best range of products when it came to savings, but it appears that their members have been harder hit than bank customers by the recent cuts in base rate.
Read full article... Read full article...
Wednesday, December 31, 2008
How to get "hundreds of dollars" of Extra Cash per Month, for 30 Years / Housing-Market / Mortgages
By: Marty_Chenard
NOTE: The markets are closed tomorrow. A very Happy New Year to all of you from Cindy and I. Many pit traders will be out on Friday. Schwab gave us indications that they would be on limited staff Friday and would reroute all Friday (Jan. 2nd.) orders through the Canadian exchanges. With that said, we may either take Friday off or do an abbreviated update. Read full article... Read full article...
Sunday, December 28, 2008
Expensive Fixed Rate Mortgages Only Option Available for Many Borrowers / Housing-Market / Mortgages
By: MoneyFacts
Fixed rate mortgages now account for 69% of the market, compared to 51% this time last year.Despite a 2.61 percentage point drop in the two year swap rate between 1 October and today, the average two year fixed rate mortgage has only dropped by 0.71 percentage points.
Read full article... Read full article...
Wednesday, April 09, 2008
HSBC Mortgage Rate Matcher Rescue Offer- Smoke and Mirrors? / Personal_Finance / Mortgages
By: Nadeem_Walayat
Britain's biggest and most profitable bank offers to rescue mortgage borrowers who's fixed rates expire this year to high variable rates, with an offer to match their maturing fixed rates down to 4.5%.
HSBC Remortgage Offer Specs
Read full article... Read full article...
Friday, February 22, 2008
High Risk 125% and 100% Mortgages Disappearing / Personal_Finance / Mortgages
By: MoneyFacts
By the close of play yesterday four of the six lenders that were offering 125% loan to value mortgages had announced that they were to withdraw these higher risk home loans. Alliance and Leicester, Coventry BS, Godiva Mortgages and Abbey are all set to pull these deals this week. Julia Harris analyst at moneyfacts.co.uk investigates:Read full article... Read full article...
Friday, February 15, 2008
UK Long-Term Fixed Rate Mortgage Advantage Over Short-term Interest Rates / Personal_Finance / Mortgages
By: MoneyFacts
As the year goes on, an increasing number of borrowers will be facing the dilemma of what to do once they come to the end of their fixed rate mortgage deals. Julia Harris, mortgage analyst at moneyfacts.co.uk, looks at the options available.
Trackers without penalties
Read full article... Read full article...
Thursday, January 31, 2008
Lenders Raise Mortgage Interest Rates in Advance of UK Interest Rate Cut! / Personal_Finance / Mortgages
By: MoneyFacts
With speculation rife that the Monetary Policy Committee will cut base rate again next week, mortgage lenders have been preparing for the potential increased demand by increasing margins offered on tracker rate mortgages. Denise Harvey, mortgage analyst at Moneyfacts.co.uk investigates.
“In the last two weeks alone, analysis from Moneyfacts.co.uk has revealed that 10 lenders have increased the margins on tracker mortgages by as much as 0.45%.
Read full article... Read full article...
Monday, October 22, 2007
Variable and Fixed Rate Mortages at the Same Price – That Can’t Be Right! / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, Mortgage Expert at Moneyfacts.co.uk - the leading independent financial comparison site, comments:“The sub prime sector continues to see most of the action in the mortgage market, with still rising rates and tightening credit criteria. By comparison the prime mortgage market, albeit slowly, is reacting to the stable base rate and falling swap rates, bringing the market into an unusual equilibrium whereby fixed and variable deals are priced similarly.Read full article... Read full article...
Sunday, September 02, 2007
UK Interest Rate Rises on Subprime Mortgages and Credit / Housing-Market / Mortgages
By: MoneyFacts
BMW credit card from Amex increases rate by 7%
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk- the money search engine comments: “The standard purchase rate of 9.9% APR made the BMW credit card from American Express a very attractive proposition, but with effect from 28 August, the rate has been hiked by seven per cent to 16.9% APR.
Thursday, August 02, 2007
Good News For Borrowers As Exit Mortgage Exit Fees Fall, But At the Cost of Rising Mortgage Arrangement Fees / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, Mortgage Expert at Moneyfacts.co.uk – the money search engine, comments:“The month following the latest base rate rise to 5.75% has seen a raft of rate rises. Not only have variable rate mortgages increased, with swap rates also on an upward trend, fixed rate deals have been hit hard with rising rates too.
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Friday, July 13, 2007
Nationwide Launches New UK 25 Year Fixed Rate Mortgage / Personal_Finance / Mortgages
By: Nationwide
Guaranteed stability of payments for 25 years, with full flexibility after 10 years
Nationwide Building Society today announced the reintroduction of its innovative 25 year fixed rate mortgage at a rate of 6.39%. The new 25 year fixed rate will be available from Tuesday 17 July.
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Thursday, July 12, 2007
Moneyfacts.co.uk Comments on the Long Term Fixed Rate Mortgage Market / Personal_Finance / Mortgages
By: MoneyFacts
Lisa Taylor, Analyst at Moneyfacts.co.uk – the money search engine comments:“This week Alistair Darling, the new chancellor of the exchequer announced that Labour would shortly be issuing proposals to increase the supply of long term fixed rate loans, in a bid to tackle the affordability crisis and concerns that the short term market thrives on collecting regular arrangement fee income.Read full article... Read full article...
Friday, June 22, 2007
Home Buying Valuations - The Forgotten Mortgage Fee / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at Moneyfatcs.co.uk – the money search engine comments:“As we move away from a totally rate driven mortgage market, much focus has been placed on total cost, inclusive of rising arrangement and exit fees. We also talk of higher lending charges, procuration fees and redemption charges, and even go so far about complaining about the money transfer fee. But one fee, which perhaps we view as a service charge, has slipped through the net – the valuation fee.Read full article... Read full article...
Sunday, June 17, 2007
Mortgage Fixed Rates Disappearing Again… / Housing-Market / Mortgages
By: MoneyFacts
Lisa Taylor, of Moneyfacts.co.uk – the money search engine, comments:“With base rate remaining on hold, at least for the next month, we may have expected the mortgage market to have settled. However this is far from the case, especially for fixed rate deals that have been either disappearing off the shelves or increasing rapidly.Read full article... Read full article...
Monday, June 04, 2007
The Hidden Higher Mortgage Lending Charge / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at Moneyfacts.co.uk – the money search engine, comments:“As more people are struggling to afford the substantial deposits required to take that first step on property ladder, it is commonplace for the mortgage advance to represent at least 90% of the property value for many first time buyers.Read full article... Read full article...
Friday, April 20, 2007
Nationwide Building Society today announces changes to its range of Fixed and Tracker rate Mortgages / Personal_Finance / Mortgages
By: Nationwide
Nationwide will be decreasing the rate on its two year tracker product for remortgagers and switchers. At the same time, Nationwide will be increasing some of the rates on its fixed and tracker rate mortgages. The new rates are available from Tuesday 24 April 2007.
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Monday, March 26, 2007
Moneyfacts comments on the Nationwide Building Society 25 year fixed rate mortgage / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at moneyfacts.co.uk – the money search engine, comments: “The new Nationwide 25-year fixed rate mortgage is competitive when compared with other long-term fixed rates, particularly for those with a 10% deposit. It comes with a fee of £599 (and a £200 discount for existing members), which is not out of line, especially when you take into account some of the four figure or percentage based fees that we are now seeing for short term deals.Read full article... Read full article...
Monday, March 26, 2007
UK Mortgage fixed Interest rates start to fall / Personal_Finance / Mortgages
By: MoneyFacts
Denise Blake, mortgage analyst at Moneyfacts.co.uk – the money search engine, comments: “Following the shock base rate rise in January, fixed rate mortgages flew off the shelves as consumers rushed to get their hands on existing fixed rate deals before they were pulled. But with base rate remaining unchanged now for the last two months, some level of stability has returned.
“With swap rates starting to fall back, Moneyfacts.co.uk has seen eight lenders reduce their fixed rate mortgages over the last 10 days, some by as much as 0.40%.
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Friday, March 23, 2007
Tread carefully with low rate high fee mortgage loan combinations / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at moneyfacts.co.uk – the money search engine comments: “During the last month we have witnessed the continuing trend for lenders to launch low rate high fee mortgages. But as fees rocket skywards, is there still a place in the market for low rate high fee products? And who benefits from these deals?
“The trend just highlights how some lenders and consumers are still keen to focus on interest rate, not the whole package. It is worrying that consumers may be duped into these deals, thinking they are getting the best possible rate, without realising the financial impact of such a large fee.
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