Tag: mortgage rates

Funding for Lending scheme prompts mortgage cuts

Funding for Lending scheme prompts mortgage cuts

Mortgage brokers have attributed moves by several lenders to cut their mortgage rates to the Bank of England’s recently launched Funding for Lending scheme. Ray Boulger of mortgage brokers John Charcol said that the Funding for Lending scheme was the key to the cuts. “Wholesale borrowing rates have fallen quite quickly since the scheme was […]

October 12, 2012 More
Lenders increase mortgage rates for new borrowers

Lenders increase mortgage rates for new borrowers

Obtaining a mortgage has become increasingly difficult since the credit crunch and the situation is worsening according to recent reports. Several lenders have recently increased mortgage rates for new borrowers, including Abbey, HSBC, Halifax, Lloyds TSB, Santander, Britannia, and Cheltenham & Gloucester. Customers taking out new fixed, tracker or discounted home loans will have to […]

April 20, 2012 More
Eurozone crisis could push up mortgage cost

Eurozone crisis could push up mortgage cost

Brokers have noticed a rising trend on mortgage rates and are blaming it on the current crisis in the eurozone. Woolwich, Halifax and Santander, Nationwide, ING and the Chelsea Building Society have all increased tracker mortgage rates recently, reversing this summer’s trend for rates to become more competitive. The Chelsea Building Society has increased the […]

November 11, 2011 More
Repossessions fall to two-year low

Repossessions fall to two-year low

The number of homeowners who saw their properties repossessed by lenders fell to a two-year low in the first three months of 2010. New data from the Financial Services Authority put the total the number of repossessions at 10,500, down 11% on the final quarter of 2009. In addition, new mortgage arrears declined by 2%, […]

June 23, 2010 More
Mortgage rates drop to seven year low

Mortgage rates drop to seven year low

Mortgage rates are at their lowest for seven years, according to new research. The study by Moneyfacts.co.uk found the average interest-rate on a two-year fixed rate mortgage is 4.52%, the lowest since September 2003. Interest rates on fixed rate mortgages have been dropping since September last year as lenders attempt to entice borrowers away from […]

NAR reports surge in US home sales in April

NAR reports surge in US home sales in April

The National Association of Realtors (NAR) has today revealed a rise in sales of previously owned homes in the US for the month of April, boosted by the expiration of a Government tax credit, which ended last month. The industry body said sales surged 7.6% in April (a five-month high) to an annual rate of […]

May 24, 2010 More
US economic growth figures revised downwards

US economic growth figures revised downwards

The Commerce Department today revealed that the world’s no.1 economy grew at a slower rate in the third quarter than previous estimates showed. According to official figures, the US economy grew by 2.2% between the July and September period, rather than the 2.8% previously reported and the original estimate of 3.5%. The figures come on […]

December 22, 2009 More
Lenders reluctant to cut mortgage rates

Lenders reluctant to cut mortgage rates

Homeowners are gradually being offered a larger choice of mortgage products, although lenders remain cagey about attracting too much business, MoneyFacts.co.uk claimed this week The number of mortgage products available dropped to a record low of 1,209 at the beginning of April, down from a peak of 11,951 products that were available in July 2007. […]

September 16, 2009 More
PM forced to address questions about his leadership

PM forced to address questions about his leadership

Yesterday, Prime Minister Gordon Brown met with bank chiefs from Lloyds, Barclays, HSBC, Royal Bank of Scotland and Nationwide as the City struggles with fallout from the US sub-prime crisis and the credit squeeze. No. 10 said the talks were to discuss ways to improve confidence in the housing market and was not a crisis […]

April 16, 2008 More
Northern Rock yet to pass on interest rate cuts

Northern Rock yet to pass on interest rate cuts

Despite calls by the Government for mortgage lenders to pass on interest rate cuts to borrowers, nationalised Northern Rock still has not passed on last week’s interest rate cut. The crisis-torn bank said its standard variable rate (SVR) is still under review after Chancellor Alistair Darling said lenders should do more to help homeowners. A […]

April 15, 2008 More