Mortgage Deals Help…

Gross Mortgage Lending Increases In February 2010
 
Lending has improved by 6% in February according to the Council of Mortgage Lenders (CML).  The figure for February was an estimated £9.2 billion as against £8.7 billion recorded for January 2010.
 
February being the shortest month may have indicated a strengthening market but the end of the stamp duty [...]

First Direct Tracker Mortgage at 3.99%

First Direct have an attractive tracker mortgage for first-time buyers who can come up with a 15% deposit.

This lifetime tracker mortgage tracks the Bank of England Base Rate plus 3.49%, which is currently 3.99%.  There is a £499 arrangement fee and the overall cost for comparison is 4.1%.  If it [...]

Banking and mortgage complaints figures released
 
The Financial Ombudsman Service has released data on complaints received from individual financial businesses for the second half of 2009.  These are complaints made to the ombudsman between 1 July and 31 December 2009 which include mortgage complaints.
 
Within this six month period the ombudsman received 82,136 new complaints. This shows [...]

The fragility of the UK mortgage market is a concern to many homeowners as well as first time buyers.  The BBC’s Business Editor Robert Preston gives an interesting insight into the current state of play and how the mortgage market may play out in the next few years.
Here is his blog article in full: http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/02/the_acute_vulnerability_of_the.html
Your [...]

As the economy slowly climbs out of recession, millions of homeowners are facing a dilemma. Is it time to take advantage of low interest rates to fix your mortgage for the long term or to opt for a cheaper tracker rate pegged to the Bank of England base rate, which could rise over the next [...]

Mortgage interest takes less income
According to new data released by the Council of Mortgage Lenders (CML) in November 2009 homeowners needed to use less of their income to pay for their mortgage interest.
On average the homeowner used 10.6% of gross income on their mortgage interest payments in November, compared to 11.1% in November.  A figure [...]

 
Mortgage Rate Cuts From Nationwide
 
Nationwide has announced that it will be reducing interest rates for a number of its tracker mortgages and fixed rate mortgages.
 
The main winners will be those customers looking to borrow between 70 percent and 85 percent LTV as the rates will be reduced on these deals.
 
Borrowers who are looking at a [...]

Borrowers will find it harder to take out a competitive new home loan from Woolwich, the mortgage brand of Barclays, after it announced plans to tighten its affordability calculations.

Bank of England Shows Mortgage Approvals Are Tailing Off
 
Just when the CML released figures that mortgage approvals had risen by 81% the Bank of England has released figures showing the number of new mortgages approved, but not yet lent, has fallen for the first time in 10 months.
 
There were 52,317 approvals in August, compared to [...]

Mortgage Approvals Hit A New High
 
The number of mortgage approvals has increased by 81% when compared to the same month a year ago and more than double the low of 18,330 reached in November 2008.  However the British Bankers’ Association (BBA) said the annual rise was exaggerated by the unusually low lending levels around August [...]