News Tag: John Charcol
November 19, 2009
The latest monthly mortgage index from mortgage broker, John Charcol, shows the proportion of homeowners borrowing at fixed-rates falling in October, to 26.3%.
The ratio compares with a peak of 83.1% in June and confirms that borrowers have gradually been convinced that low interest rates are here to stay.
The firm's spokesman, Drew Wotherspoon, says the Bank of England’s recent decision to pump a ...
Fixed-rate attraction continues to decline
by Gill Montia
September 1, 2009
Mortgage borrowers are becoming less fearful of interest rate rises and opting for variable rate loans in larger numbers.
July figures from John Charcol show that while fixed-rate deals retained their popularity, variable-rate mortgages, such as tracker or discounted loans, made up 35% of all mortgages arranged through the broker, compared to 17% of the market in June.
The swing reflected a sharp rise ...
Variable rate mortgage stages comeback
by Gill Montia
August 21, 2009
Many homeowners are opting for peace of mind over cheaper monthly repayments, an industry expert noted this week.
Jacqueline Thornton, financial planner at Re-Financial Planning, said most homeowners are choosing fixed-rate mortgages rather than saving money by moving to a lower-cost standard variable rate (SVR) deal.
Mortgage broker John Charcol recently reported 83% of its clients opted for a fixed-rate mortgage ...
Homeowners seek peace of mind in fixed-rate mortgages
by David Masters
August 16, 2009
The housing market downturn has left up to 3.5 million Britons unable to move, according to research from John Charcol.
The mortgage broker estimates that one third of UK households with residential mortgages are stuck in their properties because falling prices have eroded the amount of equity they hold and restricted access to mortgage finance.
The firm has calculated that around two ...
Homeowners pinned down by shrinking equity
by Gill Montia
July 23, 2009
Last month saw homebuyers and remortgagers opt for fixed-rate loans as never before.
According to mortgage broker, John Charcol (JC), the proportion of customers choosing fixed-rate deals rose to a record 83.1% in June and the firm's mortgage activity monitor also showed the average take-up at 81.2% over the past four months.
However, the broker believes the figures could have peaked because of ...
Fixed rate popularity sees June peak
by Gill Montia
June 19, 2009
John Charcol claims there has been a "sharp increase" in house purchase activity so far this year year.
The broker says that in May, mortgage applications for house purchases were higher than for remortgaging for the first time since 2007.
The firm's Monthly Mortgage Index shows that business connected to house purchases hit 53.4% last month, compared to an average 25% during 2008.
Furthermore, ...
Sharp increase in house purchase activity
by Gill Montia
May 26, 2009
First time buyers are taking advantage of plummeting house prices, according to figures released this week by mortgage experts John Charcol.
A fifth of mortgage applications during the first four months of 2009 came from first time buyers - an increase of 350% compared to the final four months of 2008.
A significant proportion of these first time buyers put down a deposit ...
First time buyers treble in 2009
by David Masters
March 26, 2009
John Charcol is advising remortgagers and first-time buyers to consider taking out fixed-rate loans.
A number of lenders have lowered fix-rates this month but according to the mortgage broker, the trend could soon reverse and today's relatively attractive offerings will disappear.
The firm explains that gilt yields for maturities of five years or more have fallen since the Government embarked on quantitative easing and ...
Fixed-rates may go no lower
by Gill Montia
October 7, 2008
Mortgage broker, John Charcol, is urging homeowners coming to the end of their fixed-rate mortgages to find a new deal as soon as possible.
According to the firm's senior technical manager, Ray Boulger, borrowers should start investigating their options six months before their current deals expire.
The financial turmoil of the past three weeks means that mortgages are likely to be in very ...
Remortgagers urged to make haste
by Gill Montia
July 14, 2008
John Charcol has reported that increasing numbers of homeowners struggling with higher interest payments are opting to extend the terms of their mortgages to reduce monthly repayments.
According to research by the mortgage broker, between 10% and 15% of borrowers who have remortgaged in the past two months extended the lifetime of their loans, or switched to interest-only payments.
To offer a comparison, monthly repayments on a typical ...
Remortgagers opt for longer mortgage terms
by Gill Montia
July 10, 2008
A number of lenders have launched new mortgage deals this week.
Leeds Building Society has introduced a five-year fixed-rate loan at 5.99% and with no higher lending charge.
Maximum loan-to-value ratio is 80% and 10% capital repayments are allowed each year without any penalty charge.
Interested parties can apply via the lender's branches, online, or by phone.
Woolwich has introduced new three-year fixes and has upped ...
New mortgage deal round up
by Gill Montia
May 23, 2008
Mortgage broker, John Charcol, has published its latest best-buy tables, which are headed by Nationwide and Abbey.
For fixed-rate loans, Nationwide's two-year deal gained prominence, charging 5.95% and reverting to 6.49% at the end of the fixed period. A fee of £599 applies.
Abbey's discount and tracker mortgages also appear high on the list with a rate of 6.02% (bank rate plus 0.97%).
Earlier ...
Abbey and Nationwide top best-buy tables
by Gill Montia
