Latest Mortgage News

The latest news on mortgage rates, mortgage deals; residential and Buy-To-Let markets:

February 18, 2010

Brits want to be mortgage-free by age 50

by David Masters

Paying off the mortgage in full before they reach age 50 is the goal of nearly two thirds of Brits. Research by the Co-operative Bank found 62% of UK consumers aim to be mortgage free by their 50th birthday. Once their mortgage is paid off, the main goal of those surveyed was to take more holidays, with 52% saying they are ...

February 17, 2010

Banks’ debts could devastate mortgage lending

by Gill Montia

...

Lenders back regulation of second-charge mortgages

by Gill Montia

Lenders are backing the proposed regulation of the second-charge mortgage market. Responding to a Treasury consultation, the Council of Mortgage Lenders (CML) has also said it wants to ensure borrowers are sufficiently protected when mortgage books are sold on. On second-charge lending, the body has restated its longstanding position that all residential mortgage lending should be regulated by the Financial Services Authority (FSA). ...

February 15, 2010

First-time buyer affordability measures “overly positive”

by Gill Montia

New research from the Council of Mortgage Lenders (CML) suggests why it has become harder for first-time buyers to enter the UK's property market in recent years, despite the "sea-change" decrease in interest rates since the early 1990s. Falling interest rates should mean a rise in the size of mortgage that can be serviced from first-time buyers' incomes. However, in the case of ...

February 13, 2010

First-time buyer loans hit two-year high

by Gill Montia

First-time buyer mortgage approvals hit a two-year high in December as those buying properties costing up to £175,000 rushed their purchases through before the end of the stamp duty holiday. According to the Council of Mortgage Lenders (CML), 24,900 first-time buyer loans were sanctioned worth £2.9 billion, leaving both figures up 26% on November. In December, house purchase approvals in general totalled ...

February 11, 2010

46,000 homes repossessed in 2009

by Gill Montia

Repossessions fell 13% to 10,200 in the final three months of 2009, compared to the previous quarter. The figure, which includes home-owner and buy-to-let mortgage borrowers, was also 2% down on the same period of 2008, according to the Council of Mortgage Lenders (CML). However, for 2009 as a whole, mortgage lenders possessed around 46,000 homes, up 15% on a year earlier but well ...

February 10, 2010

Tracker rates hit record lows

by Gill Montia

Tracker rates fell to record lows in January, Bank of England statistics have revealed. For those with a 25% deposit, the rate on the average tracker deal declined to 3.63%, down from 3.92% in December. The shift indicates that competition is hotting up, given that the base rate has now been maintained at 0.5% for eleven consecutive months. Furthermore, the average rate on a two-year ...

February 9, 2010

Nationwide lowers LTVs on remortgage deals

by Gill Montia

Nationwide has lowered the deposit required for some of its most competitive remortaging deals, from 40% to 30%. From today, all the lender's existing 60% loan-to-value (LTV) fixed and tracker remortgage loans are available at up to 70%. Since the onset of the credit crisis, remortgaging activity has been in a steady decline as lower interest rates and impaired credit histories meant borrowers ...

February 4, 2010

Santander profit grows 13%

by Kay Murchie

Spanish banking giant Santander has today revealed a 13% rise in fourth-quarter net profit to €2.2 billion (£1.9 billion). Meanwhile the bank, which is the second largest banking group in the world after HSBC, said gross income grew almost 24% to €10 billion. For the 2009 year as a whole, net profit was up 1% to €8.94 billion, with good performances in continental Europe, Latin ...

Santander announces new two-year mortgages

by David Masters

Santander has launched new two year tracker and fixed rate mortgage products, and has reduced the rate on its five year fixed rate mortgage. The two year mortgages are available to both first time buyers and home-owners at up to 70% loan-to-value (LTV) Interest on the fixed-rate mortgage is 3.44%, while interest on the tracker mortgage is 2.49%. The five year mortgage is available at ...

Twenty per cent rise in home loans on offer

by Gill Montia

The UK's mortgage market looks set to continue its recovery into 2010, with a 20% rise in the number of home loans available since the beginning of the year. According to Moneyfacts.co.uk, the surge has led to a 26% increase in deals offering up to 90% loan-to-value and therefore requiring the size of deposit accessible by first-time buyers. The financial ...

February 3, 2010

Mortgage brokers upbeat on 2010

by Gill Montia

Mortgage brokers are feeling upbeat about 2010 and predicting a good year ahead for the UK mortgage market. Research carried out by Platform (part of Co-operative Financial Services) found that 66% of participants in its Intermediary Outlook Survey are expecting improvements. Seventy-four per cent of respondents believe UK house prices will rise by up to 5% during 2010 and the same proportion think low ...

February 2, 2010

Mortgage market improving for first time buyers

by David Masters
A wider selection of mortgages is now available to first time buyers with a small deposit, according to moneysupermarket.com The price comparison site found buyers with a deposit of 15% have 22% more mortgages to choose from compared to December 2009. Buyers with a deposit of just 10% can choose from an 11% larger range of mortgages compared to December. In addition, the average interest rate on mortgages has fallen. Hannah Mercedes Skenfield, moneysupermarket.com ...

December dip in house purchase mortgage approvals

by Gill Montia

UK lenders sanctioned an additional £1.2 billion in mortgages in December 2009, according to Bank of England statistics. The figure fell below the revised November total of £1.6 billion, but remained above the previous six-month average of £0.9 billion. The annual rate of growth slipped to 0.9% (1% in November) but the three-month-on-three month measure held steady at 1.2%, when ...

January 28, 2010

Positive shift in mortgage affordability

by Gill Montia

Homeowners in England and Wales saw a 20% drop in the proportion of their take-home pay spent on monthly mortgage repayments in 2009. The latest mortgage affordability research from Barclays' Woolwich lending arm reveals that in December 2008, mortgage borrowers spent an average £196 of every £1,000 of their monthly take-home pay on their home loans. However, a year later the proportion has ...

Equity release holding steady

by Gill Montia

The UK's equity release market held steady in the final quarter of 2009, taking into account seasonal factors. According to industry body, Safe Home Income Plans (SHIP), volumes declined by 1.9% on the previous three months while the value of the average advance showed a 4% increase. With more homeowners seeking flexible deals, the number of drawdown mortgages sold rose by 5% to 3,057, or 54% of the ...

January 27, 2010

Many SVRs “disjointed” from base rate

by Gill Montia

The collapse of the remortage market as borrowers coming to the end of fixed-rate deals opt to remain on reversion rates, is prompting lenders to raise their standard variable rates (SRVs). According to Moneyfacts.co.uk some borrowers on SVRs have benefited from the record low 0.5% base rate but others have not been so lucky. The financial website's spokesperson, Michelle Slade, says: "Many ...

January 26, 2010

Mortgage lending stronger in December

by Gill Montia

Mortgage lending by Britain's High Street banks strengthened slightly in December, although the end of the stamp duty holiday is likely to have prompted a surge in completions before the New Year. The British Bankers' Association (BBA) reported net lending of £3.5 billion during the month, up from £3.4 billion in November and showing an annual rise of 4.6%. December approvals for house purchases ...

FSA defends home owners with mortgage arrears

by Gill Montia

Mortgage borrowers in arrears stand to get a better deal from lenders under new proposals published today by the Financial Services Authority (FSA). The package is aimed at ensuring home owners in financial difficulties are treated fairly, by strengthen existing rules on arrears handling and promoting the regulator's "tough stance" on mortgage fraud. Under the proposals lenders will not be able to: ...

January 25, 2010

Average loan-to-value ratio eases to 70%

by Gill Montia

The average loan-to-value (LTV) ratio on house purchase loans increased to 70% in December 2009, leaving the typical homebuyer requiring a 30% deposit. According to research from the Mortgage Advice Bureau, the tendency for lenders to require large deposits in exchange for reasonable rates is softening, having improved from an average LTV of 67% in November and 69% across the final ...

« Previous Page — Next Page »


\| FM Home \| FM News \| FM Forum \| FM Blog \|		Friday 19th of March 2010
Browse > Home / Archive by category 'Mortgage News'
FM News: Banking News Insurance News Property News Mortgage News Economy News Investment News Credit Card News Debt News Loan News Pension News FM Main: FM Home Finance News Finance forums Finance Blog	Latest Mortgage News The latest news on mortgage rates, mortgage deals; residential and Buy-To-Let markets: February 18, 2010 Brits want to be mortgage-free by age 50 by David Masters Paying off the mortgage in full before they reach age 50 is the goal of nearly two thirds of Brits. Research by the Co-operative Bank found 62% of UK consumers aim to be mortgage free by their 50th birthday. Once their mortgage is paid off, the main goal of those surveyed was to take more holidays, with 52% saying they are ... February 17, 2010 Banks’ debts could devastate mortgage lending by Gill Montia ... Lenders back regulation of second-charge mortgages by Gill Montia Lenders are backing the proposed regulation of the second-charge mortgage market. Responding to a Treasury consultation, the Council of Mortgage Lenders (CML) has also said it wants to ensure borrowers are sufficiently protected when mortgage books are sold on. On second-charge lending, the body has restated its longstanding position that all residential mortgage lending should be regulated by the Financial Services Authority (FSA). ... February 15, 2010 First-time buyer affordability measures “overly positive” by Gill Montia New research from the Council of Mortgage Lenders (CML) suggests why it has become harder for first-time buyers to enter the UK's property market in recent years, despite the "sea-change" decrease in interest rates since the early 1990s. Falling interest rates should mean a rise in the size of mortgage that can be serviced from first-time buyers' incomes. However, in the case of ... February 13, 2010 First-time buyer loans hit two-year high by Gill Montia First-time buyer mortgage approvals hit a two-year high in December as those buying properties costing up to £175,000 rushed their purchases through before the end of the stamp duty holiday. According to the Council of Mortgage Lenders (CML), 24,900 first-time buyer loans were sanctioned worth £2.9 billion, leaving both figures up 26% on November. In December, house purchase approvals in general totalled ... February 11, 2010 46,000 homes repossessed in 2009 by Gill Montia Repossessions fell 13% to 10,200 in the final three months of 2009, compared to the previous quarter. The figure, which includes home-owner and buy-to-let mortgage borrowers, was also 2% down on the same period of 2008, according to the Council of Mortgage Lenders (CML). However, for 2009 as a whole, mortgage lenders possessed around 46,000 homes, up 15% on a year earlier but well ... February 10, 2010 Tracker rates hit record lows by Gill Montia Tracker rates fell to record lows in January, Bank of England statistics have revealed. For those with a 25% deposit, the rate on the average tracker deal declined to 3.63%, down from 3.92% in December. The shift indicates that competition is hotting up, given that the base rate has now been maintained at 0.5% for eleven consecutive months. Furthermore, the average rate on a two-year ... February 9, 2010 Nationwide lowers LTVs on remortgage deals by Gill Montia Nationwide has lowered the deposit required for some of its most competitive remortaging deals, from 40% to 30%. From today, all the lender's existing 60% loan-to-value (LTV) fixed and tracker remortgage loans are available at up to 70%. Since the onset of the credit crisis, remortgaging activity has been in a steady decline as lower interest rates and impaired credit histories meant borrowers ... February 4, 2010 Santander profit grows 13% by Kay Murchie Spanish banking giant Santander has today revealed a 13% rise in fourth-quarter net profit to €2.2 billion (£1.9 billion). Meanwhile the bank, which is the second largest banking group in the world after HSBC, said gross income grew almost 24% to €10 billion. For the 2009 year as a whole, net profit was up 1% to €8.94 billion, with good performances in continental Europe, Latin ... Santander announces new two-year mortgages by David Masters Santander has launched new two year tracker and fixed rate mortgage products, and has reduced the rate on its five year fixed rate mortgage. The two year mortgages are available to both first time buyers and home-owners at up to 70% loan-to-value (LTV) Interest on the fixed-rate mortgage is 3.44%, while interest on the tracker mortgage is 2.49%. The five year mortgage is available at ... Twenty per cent rise in home loans on offer by Gill Montia The UK's mortgage market looks set to continue its recovery into 2010, with a 20% rise in the number of home loans available since the beginning of the year. According to Moneyfacts.co.uk, the surge has led to a 26% increase in deals offering up to 90% loan-to-value and therefore requiring the size of deposit accessible by first-time buyers. The financial ... February 3, 2010 Mortgage brokers upbeat on 2010 by Gill Montia Mortgage brokers are feeling upbeat about 2010 and predicting a good year ahead for the UK mortgage market. Research carried out by Platform (part of Co-operative Financial Services) found that 66% of participants in its Intermediary Outlook Survey are expecting improvements. Seventy-four per cent of respondents believe UK house prices will rise by up to 5% during 2010 and the same proportion think low ... February 2, 2010 Mortgage market improving for first time buyers by David Masters A wider selection of mortgages is now available to first time buyers with a small deposit, according to moneysupermarket.com The price comparison site found buyers with a deposit of 15% have 22% more mortgages to choose from compared to December 2009. Buyers with a deposit of just 10% can choose from an 11% larger range of mortgages compared to December. In addition, the average interest rate on mortgages has fallen. Hannah Mercedes Skenfield, moneysupermarket.com ... December dip in house purchase mortgage approvals by Gill Montia UK lenders sanctioned an additional £1.2 billion in mortgages in December 2009, according to Bank of England statistics. The figure fell below the revised November total of £1.6 billion, but remained above the previous six-month average of £0.9 billion. The annual rate of growth slipped to 0.9% (1% in November) but the three-month-on-three month measure held steady at 1.2%, when ... January 28, 2010 Positive shift in mortgage affordability by Gill Montia Homeowners in England and Wales saw a 20% drop in the proportion of their take-home pay spent on monthly mortgage repayments in 2009. The latest mortgage affordability research from Barclays' Woolwich lending arm reveals that in December 2008, mortgage borrowers spent an average £196 of every £1,000 of their monthly take-home pay on their home loans. However, a year later the proportion has ... Equity release holding steady by Gill Montia The UK's equity release market held steady in the final quarter of 2009, taking into account seasonal factors. According to industry body, Safe Home Income Plans (SHIP), volumes declined by 1.9% on the previous three months while the value of the average advance showed a 4% increase. With more homeowners seeking flexible deals, the number of drawdown mortgages sold rose by 5% to 3,057, or 54% of the ... January 27, 2010 Many SVRs “disjointed” from base rate by Gill Montia The collapse of the remortage market as borrowers coming to the end of fixed-rate deals opt to remain on reversion rates, is prompting lenders to raise their standard variable rates (SRVs). According to Moneyfacts.co.uk some borrowers on SVRs have benefited from the record low 0.5% base rate but others have not been so lucky. The financial website's spokesperson, Michelle Slade, says: "Many ... January 26, 2010 Mortgage lending stronger in December by Gill Montia Mortgage lending by Britain's High Street banks strengthened slightly in December, although the end of the stamp duty holiday is likely to have prompted a surge in completions before the New Year. The British Bankers' Association (BBA) reported net lending of £3.5 billion during the month, up from £3.4 billion in November and showing an annual rise of 4.6%. December approvals for house purchases ... FSA defends home owners with mortgage arrears by Gill Montia Mortgage borrowers in arrears stand to get a better deal from lenders under new proposals published today by the Financial Services Authority (FSA). The package is aimed at ensuring home owners in financial difficulties are treated fairly, by strengthen existing rules on arrears handling and promoting the regulator's "tough stance" on mortgage fraud. Under the proposals lenders will not be able to: ... January 25, 2010 Average loan-to-value ratio eases to 70% by Gill Montia The average loan-to-value (LTV) ratio on house purchase loans increased to 70% in December 2009, leaving the typical homebuyer requiring a 30% deposit. According to research from the Mortgage Advice Bureau, the tendency for lenders to require large deposits in exchange for reasonable rates is softening, having improved from an average LTV of 67% in November and 69% across the final ... « Previous Page — Next Page »	Latest News: Lloyds Banking Group up on profits predicition Lloyds Banking Group eyes profit in 2010 Student Loans Company provided “unacceptable” service, say NAO Euro falls as Greece warns it could seek IMF help Barclaycard to close office in Glasgow with loss of 350 jobs BoE report reveals sharp fall in UK business lending Royal Bank of Scotland leads banks lower on sector downgrade US consumer prices unchanged in February Hundreds more jobs set to go at the Land Registry Gross mortgage lending up 6% in February Most Read News Today: Royal Bank of Scotland leads banks lower on sector downgrade Lloyds Banking Group up on profits predicition Student Loans Company provided “unacceptable” service, say NAO Lloyds Banking Group eyes profit in 2010 State pension to rise by 34p per day from April 2010 Barclaycard to close office in Glasgow with loss of 350 jobs Euro falls as Greece warns it could seek IMF help BoE report reveals sharp fall in UK business lending Gross mortgage lending up 6% in February Conference Board reveals fall in US consumer confidence Most Read News To Date: US dollar weaker on soft data 10 Ways Recession Can Help the Environment Britannia Building Society exposed to credit crunch Futures Trading: A few examples Banking Crisis: Which are the Safest UK Banks? HSBC Premier Banking - not the best service around BBC: Stock market crash in Autumn HBOS rights issue looks uncertain Tracker rates fail to reflect base rate cuts Record sum spent on credit and debit cards last year
Finance Markets © 2005-2010 Brite Media. All rights reserved \| About \| Privacy \| Disclaimer \| Resources \| XML Feeds \| Press Releases \| Contact us \|

FM News:

FM Main:

Latest Mortgage News

Latest News:

Most Read News Today:

Most Read News To Date: