Tag: mortgage payments

Return to 2008 mortgage rates to cost £1,800 a year

Return to 2008 mortgage rates to cost £1,800 a year

With a rise in the Bank of England’s (BoE) base rate inevitable at some point in the future, accountancy firm, PricewaterhouseCoopers (PwC), has been assessing the potential effect on UK homeowners of average mortgage interest rates moving back up to 2008 levels. According to BoE data, the average rate across three common types of mortgages [...]

August 13, 2010 | 1 Comment More
SVR huggers miss out on cheaper mortgage payments

SVR huggers miss out on cheaper mortgage payments

New research from Yorkshire Building Society shows that the number of mortgage borrowers now on their lenders’ standard variable rates (SVRs) is over 2.3 million, representing 28% of the total mortgage market. Typically these households have come off fixed-term deals and for one reason or another have chosen to revert to their lenders’ SVRs, rather [...]

July 12, 2010 | 0 Comments More
Scotland sees cost of home ownership fall by 4%

Scotland sees cost of home ownership fall by 4%

The cost of owning and running a home in Scotland has declined by 4% over the past two years, according to research by Bank of Scotland. Between April 2008 and April 2010, average yearly expenses fell by £388, from £8,949 to £8,562. In real terms (after allowing for retail price inflation), the figure is down [...]

June 29, 2010 | 0 Comments More
Stroud & Swindon merger benefits SVR borrowers

Stroud & Swindon merger benefits SVR borrowers

Mortgage borrowers on Stroud & Swindon Building Society’s standard variable rate (SVR) can expect to see their monthly repayments reduced once the mutual is absorbed by the larger Coventry Building Society. In an announcement confirming the merger, Coventry says its financial strength will deliver an “immediate benefit” for many Stroud & Swindon members. The statement [...]

March 24, 2010 | 0 Comments More
Mass exodus from building societies as banks stabilise

Mass exodus from building societies as banks stabilise

Savers withdrew £2.2 billion from building societies in June, the most in a single month since records began in 1955. This is compared to an inflow of over £400 million during the same month last year when savers, anticipating the collapse of banks, viewed building societies as a safer option. However, with banks now stable [...]

August 3, 2009 | 0 Comments More
4 million families using plastic to pay mortgage/rent

4 million families using plastic to pay mortgage/rent

A report from the homeless charity, Shelter, has revealed that in the last year, over 4 million families have paid their mortgage or rent on their credit card. The report, called Breaking Point, reveals the extraordinary lengths some are going to during the current economic climate. The report also established that one in six is [...]

June 19, 2008 | 0 Comments More
Mortgage fears grow at Northern Rock

Mortgage fears grow at Northern Rock

An internal memo at Northern Rock has unveiled that the crisis-torn bank is expecting to see a vast increase in the amount of customers struggling to pay off their mortgage over the next 12 months. As a result, the bank is proposing to more than double the number of people who work in its debt [...]

May 30, 2008 | 0 Comments More