Figures from Moneyfacts have revealed in the number of mortgage products. The credit crunch resulted in a tightening of lending criteria and mortgages have been hard to secure without a substantial deposit. However, the number of different mortgage products has risen to its highest level since November 2008, according to Moneyfacts, due to increased competition. [...]
The number of home loans accessible by mortgages brokers has increased 51%, to 4,665, since this time last year. However, April saw a 4% drop in products available, compared with March, according to sourcing software specialist, Mortgage Brain. The choice of tracker deals took an 11% dive to 1,441, and the availability of fixed-rate loans [...]
In tomorrow’s Budget, Chancellor Alistair Darling is expected to announce that a basic bank account will be available to everyone. The announcement, which was leaked to the BBC today, will mean everyone has a legal right to have a bank account. According to the Treasury’s Financial Inclusion taskforce, there are 1.75 million people in the [...]
New research from Moneyfacts.co.uk claims there has been a 70% rise in the number of mortgage products available in just under a year. According to the financial website, borrowers now have 2,053 deals to choose from, compared with 1,209 in April 2009, when the figure bottomed out. Furthermore, a significant boost has occurred since the [...]
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 [...]
New research from moneysupermarket.com shows the number of mortgage products available to UK borrowers increasing for the third consecutive month, and crashing through the 2,500 barrier for the first time since May 2008. The firm’s mortgages channel manager, Hannah-Mercedes Skenfield, says: “This is good news for buyers, as passing the 2,500 barrier does suggest that [...]
Lenders are cautiously expanding their mortgage offerings, with the number of home loans available rising steadily since August’s low of 2,182. According to moneysupermarket.com homebuyers and remortgagers can now choose from 2,430 products, although the figure is still well below the 3,384 available at the beginning of the year. Encouragingly for first-time buyers, the most [...]
The November TrigoldCrystal Product Index shows that in the three months to the end of October, the number of home loans available to brokers has stabilised. TrigoldCrystal provides sourcing software to the mortgage intermediary market, with over 70% of intermediaries using its Prospector system. According to the firm, the average number of mortgage products for [...]
Despite a fall of 78% over the year to the end of August, the number of home loans available to mortgage brokers remained stable last month. So says mortgage advice website, Mortgage Brain, in its monthly review of the market. The firm detected an 0.2% rise in the number of products available to brokers, representing [...]
New research from moneysupermarket.com shows that the number of mortgage products available in the UK has plummeted to a record low. According to the price comparison website, borrowers have just 2,282 deals to choose from, or less than half the number of loans available a year ago. Compared to the height of the property boom [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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