- Mortgages RSS Feed

Homeowner conundrum: To fix or not?

Sun, 27 May 2012 00:00:01 +0100

How low could Bank of England interest rates go? Sitting at a tiny 0.5 per cent for more than three years, the only way the Bank rate was set to go was up. But then last week the International Monetary Fund, in its latest assessment of the UK economy, floated the idea that the next move in base rate could be down to 0.25 per cent or even zero to wrest the economy from a eurozone-sparked recession.

Paragon's buy-to-let loan book grows for first time since 2008

Thu, 24 May 2012 00:00:01 +0100

Figures yesterday from Paragon show there is still an active market in buy-to-let properties.

Mortgage lending falls to 12-month low in April

Mon, 21 May 2012 10:29:03 +0100

Mortgage lending fell to a 12-month low in April as the market suffered a hangover from the ending of a tax concession for first-time buyers.

Mortgage hike hits finances of households

Mon, 21 May 2012 00:00:01 +0100

Hard-up households' finances are being squeezed even further, according to May's Household Finances Index from Markit.

Julian Knight: Global action needed as Europe loses grip on crisis

Sun, 20 May 2012 00:00:01 +0100

It's more a jog than a run but there is a lot of money flowing out of banks at the epicentre of the eurocrisis. In Greece in one day, €700m (£563m) has been withdrawn by savers. In Spain, Bankia has called on savers to remain calm, while furiously denying €1bn has been withdrawn, hardly confidence inspiring. Reports of higher-than-expected withdrawals are also coming out of Portugal and Italy.

LSL tells buyers to expect costlier mortgages

Fri, 18 May 2012 00:00:01 +0100

The estate agent behind the Your Move and Marsh & Parsons chains braced would-be homebuyers yesterday to expect dearer mortgages amid mounting alarm over Europe's debt woes.

Money Insider: How to protect yourself from mortgage hikes

Sat, 12 May 2012 00:00:01 +0100

More than a million people will have seen their monthly mortgage costs increase, following recent moves by Halifax, Clydesdale/Yorkshire banks and Bank of Ireland to hike their mortgage standard variable rates.

Householders pay the price as SVR mortgages soar

Sat, 05 May 2012 00:00:01 +0100

An estimated million people were hit by higher mortgage payments this week, when their lenders increased standard variable rates (SVRs).

Five questions on... interest-only mortgages

Sat, 05 May 2012 00:00:01 +0100

Do lenders still offer interest-only loans?

Spotlight on: Newcastle 50:50 ISA

Sat, 05 May 2012 00:00:01 +0100

The deal

Mortgage approvals down on average

Wed, 02 May 2012 12:57:48 +0100

More evidence of tighter mortgage availability emerged today after figures showed approvals remain well down on their long-term average.

Co-operative Bank stops interest-only mortgages

Wed, 02 May 2012 12:23:01 +0100

The squeeze on availability of interest-only mortgages continued today when a major lender withdrew its entire range of products.

Mortgage lenders no longer fear to tread the new-build path

Sun, 29 Apr 2012 00:00:01 +0100

Lenders are gearing up to relax their criteria on new-build property, mortgage industry insiders have said.

Spotlight On: Santander first-time mortgages

Sat, 28 Apr 2012 00:00:01 +0100

The deal

Mortgage lending at six-month high

Mon, 23 Apr 2012 13:30:17 +0100

A rush to beat the deadline on the stamp duty concession drove mortgage lending to a six-month high in March, the Council of Mortgage Lenders (CML) said today.

Money Insider: Taking out an offset mortgage is a savvy move

Sat, 21 Apr 2012 00:00:01 +0100

In these times of economic hardship and high inflation, people are becoming more savvy when it comes to saving or making money on their banking and insurance products. But for many there's potential to save an awful lot more.

Mortgage application fraud on the rise

Wed, 18 Apr 2012 09:02:02 +0100

Fraudulent mortgage applications increased by 8% year on year in 2011, as "financially stressed" consumers tried to hide their bad credit ratings and lied about their jobs, a study suggested today.

First-time buyers' costs rise

Tue, 17 Apr 2012 00:00:01 +0100

Mortgage costs for first-time buyers increased in February for the first time in nearly a year. With many lenders increasing their rates, the proportion of income spent on mortgage interest payments rose to 12.5 from 12.1 per cent the previous month.

Thousands face retiring with unpaid mortgage

Sun, 15 Apr 2012 00:00:01 +0100

More than quarter of a million interest-only borrowers could reach retirement age by the end of the decade while still owing substantial sums on their mortgage, an Independent on Sunday investigation has found.

Interest-only mortgage holders 'risk old-age debt'

Sun, 15 Apr 2012 00:00:01 +0100

More than a quarter of a million interest-only mortgage holders could be reaching retirement age by 2020 still deep in debt.

Spotlight On: Lloyd's TSB's fee-saver mortgage

Sat, 14 Apr 2012 00:00:01 +0100

The deal

Halifax says rush to beat duty pushed up prices

Thu, 05 Apr 2012 00:00:01 +0100

A last-minute dash by first-time buyers to beat a deadline on avoiding stamp duty sent house prices jumping 2.2 per cent last month, according to Halifax.

First-time buyers push house prices up

Wed, 04 Apr 2012 09:16:40 +0100

First-time buyers rushing to jump on the property ladder before the end of a stamp duty holiday helped house prices jump 2.2% in March, the Halifax revealed today.

House prices post first monthly rise for two years

Mon, 02 Apr 2012 11:24:28 +0100

House prices have climbed over the month for the first time in almost two years.

£50,000 rule for RBS interest-only mortgage deal

Tue, 27 Mar 2012 18:06:56 +0100

New interest-only mortgages taken out by Royal Bank of Scotland (RBS) and NatWest customers will be restricted to people earning at least £50,000 under fresh rules announced today.

Time is running out for interest-only mortgages

Sun, 25 Mar 2012 00:00:01 +0000

Interest-only mortgages look to be on their way out after Coventry became the latest lender to tighten up its lending criteria. Along with Nationwide, Coventry announced this week that it would reduce its maximum loan to value to 50 per cent. If interest-only deals disappear altogether, many fear that thousands of borrowers could become mortgage prisoners, unable to remortgage or pay off their debt.

Mortgage lending up on last year

Tue, 20 Mar 2012 10:58:26 +0000

Mortgage lending is higher year-on-year for the seventh month in a row, as first-time buyers race to take advantage of a stamp duty concession before it ends.

Right to buy: A timely kick-start for housing or a gimmick to be avoided?

Sun, 18 Mar 2012 00:00:01 +0000

With house construction in the UK at a standstill the Government is pulling out all the stops to get things moving again by bringing in yet another initiative. To give the industry more food for thought after the recent introduction of the NewBuy scheme, designed to help people buy a new home with only a 5 per cent deposit, there is now a revived version of the old right-to-buy scheme, but again there are some serious question marks looming.

Cameron's new housing plan may fail to help buyers

Sat, 17 Mar 2012 00:00:01 +0000

The NewBuy Guarantee trumpeted this week by David Cameron as being "a vital boost to the housing market", may be a fillip to homebuilders, but homebuyers have been urged to treat the scheme with caution before signing up.

Cypriot home dream turns into a nightmare

Sun, 11 Mar 2012 00:00:01 +0000

When Steve Noonan, a legal adviser for Cleveland Police, bought his two-bedroom apartment off-plan at the Cypriot development of St Nicolas in the town of Chloraka, near Paphos for only £160,000 in 2008, it seemed too good to be true.

High hopes that NewBuy will fuel market recovery

Sun, 04 Mar 2012 00:00:01 +0000

Many in the property industry will be shouting "good news all around" when the Government unveils its NewBuy Guarantee scheme later this month. But should aspiring homeowners really be welcoming this latest scheme with open arms?

Lenders set to raise mortgage rates

Sat, 03 Mar 2012 09:17:09 +0000

Homeowners are set to suffer rising interest rates as two mortgage lenders put rates up.

Approvals up in stamp duty rush

Thu, 01 Mar 2012 00:00:01 +0000

Mortgage approvals hit a 25-month high in January after numbers were boosted by first-time buyers rushing to take advantage of a stamp duty holiday.

Boost for new mortgage approvals

Wed, 29 Feb 2012 11:08:22 +0000

Mortgage approvals have hit a 25-month high after numbers were boosted by first-time buyers rushing to take advantage of a stamp duty holiday.

Halifax raises SVR mortgage cap

Tue, 28 Feb 2012 14:49:07 +0000

Around 40,000 borrowers are facing the threat of higher mortgage costs after Halifax raised a cap for those on a standard variable rate (SVR).

Five Questions About: Getting a mortgage

Sat, 25 Feb 2012 00:00:01 +0000

Are banks and building societies still lending?

Mortgage approvals hit a two-year high

Fri, 24 Feb 2012 00:00:01 +0000

High street banks turned on the lending taps in January with the most mortgage approvals for more than two years, the British Bankers' Association (BBA) said yesterday.

Stamp duty break 'boosts mortgages'

Thu, 23 Feb 2012 11:49:46 +0000

The number of mortgage approvals for house purchase has reached a two-year high as borrowers rush to take advantage of a stamp duty holiday before it ends, a high street banking report has said.

Stamp duty date boosts lending

Tue, 21 Feb 2012 00:00:01 +0000

First-time buyers rushing to beat the stamp duty deadline helped to push up mortgage lending by 10 per cent in January, marking the sixth-consecutive month of rises.

Mortgage lending 10% higher than a year ago

Mon, 20 Feb 2012 10:06:02 +0000

Mortgage lending was 10% higher than a year ago during January as first-time buyers rushed to complete deals before the end of a stamp duty amnesty.

Ways and means to curb rocketing costs of moving

Sun, 19 Feb 2012 00:00:01 +0000

Moving home is touted as one of the most stressful times in our lives, and it can often be the most expensive too. From securing a mortgage right through to moving day, you can expect to be digging deep – but there are ways to cut costs.

Exclusive: Home ownership at lowest level since 1988

Sun, 19 Feb 2012 00:00:01 +0000

Britain's pursuit of the "property-owning democracy" has come grinding to a halt amid the debris of the credit crunch, with the proportion of people owning their own houses slumping to the lowest level in a generation.

Good news for property owners (in two areas)

Sat, 18 Feb 2012 00:00:01 +0000

There are only two areas in the country where 2007 homebuyers may now be sitting on a profit - one is in Essex, the other is in the Lake District.

Scourge of US bankers abandons plan to cash in on mortgate chaos

Wed, 15 Feb 2012 00:00:01 +0000

Phil Angelides, who chaired the US Financial Crisis Inquiry Commission (FCIC) and raged at bonus-obsessed bankers, has abandoned his plan to cash in on the chaos in the mortgage market.

Loans up as stamp duty amnesty ends

Mon, 13 Feb 2012 10:54:30 +0000

A scramble to get on the property ladder before the end of a duty concession has sparked a 7% jump in loans to first-time buyers, lenders said today.

Buy-to-let investors start to favour tenanted flats

Sun, 12 Feb 2012 00:00:01 +0000

Buy-to-let investors are increasingly targeting properties with an existing tenant who has signed up for a two or three-year rental agreement, according to LudlowThompson, a London letting agent.

How to claim a share of the Olympic legacy

Sun, 12 Feb 2012 00:00:01 +0000

All eyes are on London as the Olympics draw ever closer and although most of us are only interested in the medals, those looking to buy property could have a sporting chance of success too.

Buy-to-let booms despite faltering property market

Sat, 11 Feb 2012 00:00:01 +0000

The number of buy-to-let properties soared by 84,000 last year, the Council of Mortgage Lenders (CML) revealed on Thursday. Buy-to-let mortgages now account for nearly 13 per cent of the total outstanding value of home loans in the UK.

Repossessions at lowest level since 2007

Thu, 09 Feb 2012 15:05:04 +0000

Record low interest rates have helped push the number of repossessions in the UK to the lowest level since 2007, but they are set to soar to 45,000 by the end of the year as unemployment worsens, lenders warned today.

Santander sounds death knell for interest-only mortgages

Thu, 09 Feb 2012 00:00:01 +0000

The UK's second-biggest mortgage lender has doubled the deposit for an interest-only loan.

Halifax: home loans 'affordable'

Tue, 07 Feb 2012 00:00:01 +0000

Large deposits may be hindering house buyers, but for those on the property ladder, mortgages are at their most affordable for 14 years, the lender Halifax said yesterday.

Chelsea's record-low, fixed-rate mortgage deal could spark a new price war

Sun, 05 Feb 2012 00:00:01 +0000

Just when borrowers thought good times in the mortgage market were coming to an end, a surprise, new offer could spark another price war.

St Lucia: A taste of paradise that may not be too rich

Sun, 05 Feb 2012 00:00:01 +0000

Nestled on the north side of St Lucia's landmark Pitons, Freedom Bay, with its year round warm waters and dense rainforest foliage, looks every inch the Caribbean paradise location.

Slight dip in house prices in January

Wed, 01 Feb 2012 07:40:16 +0000

House prices dipped by 0.2 per cent in January, as analysts predicted that the market could tilt further in buyers' favour over the coming months.

Chill over housing market as new buyers fall by 10.5%

Mon, 30 Jan 2012 00:00:01 +0000

There is no respite for the depressed property market as the number of new buyers has slumped by a 10th in January from the previous month.

Buy-to-let booms despite mortgage squeeze

Sun, 29 Jan 2012 00:00:01 +0000

It's hard to call a surge of activity in such a subdued economy a frenzy but as far as success stories go in 2012, buy-to-let is one to watch.

Want to undercut agents? There's an app for that

Sun, 29 Jan 2012 00:00:01 +0000

Can you imagine a world without estate agents? No extortionate fees, no ill-fitting suits and no gazumping.

Five Questions About: Small deposit mortgages

Sat, 28 Jan 2012 00:00:01 +0000

What's the most I can borrow?

Spotlight On: N&P's 10-year fixed mortgage

Sat, 28 Jan 2012 00:00:01 +0000

The deal