Category: Mortgages
The analysis published under this category are as follows.
Wednesday, April 21, 2021
Looking For A Mortgage Broker? Here's How To Hire One / Housing-Market / Mortgages
By: Steve_Barker
Are you looking to buy a house or to get an investment loan, or you need help sifting through mortgage options? Then you will need a mortgage broker. It is possible to do all this on your own, but it will be tasking. A mortgage broker is a professional that acts as an intermediary between you and the lenders. They don't just connect you to any lender. They use your financial situation to get the best fit lender at an interest rate you can afford.
Mortgage brokerage is a rising business. In 2004, there was 53,000 mortgage brokerage in the United States. With online mortgage brokers, an increase in the mortgage industry has occurred. These rising numbers make it difficult to hire mortgage brokers easily. You are not just looking for any mortgage broker. You are looking for a good one that makes you his/her priority and helps you navigate the complex mortgage market.
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Tuesday, August 20, 2019
5 Ways to Save by Using a Mortgage Broker / Personal_Finance / Mortgages
By: Submissions
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Tuesday, June 04, 2019
Gap Between Average two and five-year Fixed Rate Mortgages at 7 year low / Housing-Market / Mortgages
By: MoneyFacts
Latest analysis by Moneyfacts.co.uk shows that the difference between the average two-year and five-year fixed mortgage rate has narrowed by 0.06% from 0.42% to 0.36% since the beginning of the year, seeing it stand at the lowest difference recorded in seven years as a result. The average two-year fixed rate has fallen by 0.03% from 2.52% in January 2019 to 2.49% this month, while the average five-year fixed rate decreased by 0.09% from 2.94% to 2.85% over the same period.
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Wednesday, May 08, 2019
UK Interest-only Mortgage Prodcuts Double but Approvals Fall / Housing-Market / Mortgages
By: MoneyFacts
The latest research from Moneyfacts.co.uk shows that the number of interest-only mortgage products has almost doubled over the past six years, rising from 102 products in May 2013 to 193 products today. However, this increase in products has not led to a greater number of approvals of this type of product.
Figures released by the Financial Conduct Authority (FCA) and the Bank of England show that approvals for interest-only mortgages have fallen from 26,592 in Q1 2013 to 24,148 in Q4 2018*. This decrease comes despite overall residential mortgage approvals nearly doubling over the same period, from 183,900 to 323,700.
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Wednesday, April 24, 2019
UK Home Owners Motivation to Remortgage Expected to Increase / Housing-Market / Mortgages
By: MoneyFacts
The latest research from Moneyfacts.co.uk shows that the motivation for existing borrowers to remortgage from a lender’s standard variable rate (SVR) is increasing and is expected to reach a peak in October 2019. Borrowers who opted for a two-year fixed rate at an average rate of 2.30% in May 2017 could see their interest rate more than double when moved onto the average SVR of 4.89%.
Further Moneyfacts.co.uk research shows that the average two-year fixed rate reached a record low of 2.20% in October 2017 and if the average SVR remains constant at 4.89%, the projected average difference in the revert rate will increase from 2.59% to 2.69% by October 2019, increasing the motivation to remortgage even further.
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Wednesday, April 03, 2019
Credit-impaired Mortgage Decline, but so Have Shorter-term Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
The latest research from Moneyfacts.co.uk shows that the number of credit-impaired residential mortgages has decreased by 261 to 590 products over the past six months. However, although choice is becoming more limited overall, the average credit-impaired two-year fixed rate mortgage has fallen by 0.13% to 4.36% since October last year while the average three-year rate has fallen by 0.30% over the same period.
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Monday, March 25, 2019
Mortgage Providers Encourage First-time Buyers Cutting Margins on 95% loans / Housing-Market / Mortgages
By: MoneyFacts
The latest research from Moneyfacts.co.uk shows that the margin between the average two-year fixed mortgage rate at maximum 95% and 90% loan-to-value (LTV) is at its narrowest since February 2013, with the difference between these two higher LTV rates currently standing at 0.65%, down from a high of 1.57% in October 2017. This has been driven by average rates at 95% LTV falling dramatically since then, offering hope for borrowers who can only amass a 5% deposit.
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Wednesday, February 27, 2019
Home Equity Release Market Expands to Meet Growing Demand / Housing-Market / Mortgages
By: MoneyFacts
The equity release market has evolved significantly over the past five years, so much so that the number of deals available has expanded enormously. This increase in choice has been driven by growing demand from consumers searching for options to release cash from their homes.
Indeed, the latest research from Moneyfacts.co.uk can reveal that there are now over 200 lifetime equity release deals available on the market today, five times more than that seen in 2014, when there were just 40. Not only this, but the market has grown by more than 50% since a year ago, when there were 131 deals available.
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Tuesday, February 19, 2019
UK Retirement Interest-only Mortgages Start to Take Off / Housing-Market / Mortgages
By: MoneyFacts
It is almost a year since the Financial Conduct Authority (FCA) reclassified retirement interest-only mortgages (RIOs) in March 2018, and despite a slow start, two new providers have joined the sector in the past week, taking the total to 12.
After being regulated under equity release rules and regulations, the measure to make RIOs standard mortgages was introduced in response to demographic and economic changes, and to promote more options for older borrowers who may arrive at the end of their interest-only mortgage term and have nowhere to turn.
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Monday, February 11, 2019
UK Fixed Rate Mortgage Availability Reaches Record Highs / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, reveals that the number of fixed rate residential mortgage products currently available at most loan-to-value (LTV) tiers are at a record high, with the number of total fixed rate mortgages available at maximum 60%, 75%, 85% and 90% LTV tiers at their highest levels since Moneyfacts Treasury Reports records began in July 2007.
The total number of residential mortgage products available in the market has increased from 5,181 in January 2019 to 5,214 this month. This puts it 644 products above what it was this time last year, when the total stood at 4,570.
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Friday, February 08, 2019
Intense First Time Buyer Mortage Competition Sees Average Two-year Fixed Rate Fall / Housing-Market / Mortgages
By: MoneyFacts
Despite the Bank of England base rate rise of 0.25% to 0.75% in August 2018, Moneyfacts.co.uk research has shown that the overall average two-year fixed mortgage rate has actually fallen by 0.04% from 2.53% in August 2018 to 2.49% today.
Notably, the average two-year fixed rate at the maximum 95% loan-to-value (LTV) tier has fallen by 0.54% over the same period, while at tiers such as 70% LTV the average rate has increased by 0.14%, indicating that providers may be focusing their attention at the riskier higher LTV tiers.
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Monday, January 28, 2019
UK Mortgages Fixed Interest Rates Gap Falls to the Lowest Since 2013 / Housing-Market / Mortgages
By: MoneyFacts
The mortgage rate war is still very much at hand, with providers across the market attempting to attract new business – and the latest research from Moneyfacts.co.uk can reveal that the rate gap between two-year and five-year fixed rate mortgages has fallen to its lowest level since 2013.
The rate gap calculates the difference between average two and five-year fixed rates in order to gauge the level of competition in the mortgage market. This calculation shows that the rate gap stands at 0.41% today, down from 0.44% on average for the whole of 2018, which in itself marks a fall from 0.57% in 2017 and from 0.64% in 2016.
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Wednesday, December 26, 2018
5 Potential Impacts of The LIBOR Expiration In 2021 / Interest-Rates / Mortgages
By: Submissions
In 2021, one of the most important financial tools will disappear. The London Interbank Offer Rate, or LIBOR, is the average estimated interest rate for loans between major London banks. In the decades since this number was created, it became a major element in determining short-term interest rates internationally. The interest on roughly $350 trillion contracts and loans rely on this number. Yet the UK government has ordered that the LIBOR be phased out by 2021. As a financier making long term plans, this can seem like a crisis waiting to happen. There are many possibilities for a future without the LIBOR, and not all of them are bad. Here are potential impacts of the LIBOR expiration in 2021.
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Monday, December 10, 2018
First Time Buyer Mortgage Fixed Rates Tumble to Record Lows / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, shows the average two-year fixed rate at max 95% loan-to-value (LTV) is at a record low while the choice of all fixed rate products available at max 90% LTV is at its highest on record.
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Tuesday, November 27, 2018
Cashback Mortgage Deals Soar for both Residential and BTL Borrowers / Personal_Finance / Mortgages
By: MoneyFacts
With a limited number of people interested in applying for a new mortgage of any type at the moment, product numbers being at all-time highs and competition still pushing interest rates down, mortgage providers seem to be turning to cashback incentives as a way to stand out from the crowd.
The latest research from Moneyfacts.co.uk highlights that cashback incentives as a key product option are becoming more widespread within both the residential and buy-to-let (BTL) mortgage market.
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Tuesday, November 13, 2018
UK Mortgage Five-year Fixed Rates Reache Two-year High / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, shows the average five-year fixed rate has increased for the first time in four months, seeing this average reach its highest point in almost two years, effectively cancelling out any gains made in that time as a result.
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Thursday, October 25, 2018
UK Average Mortgage Fee Highest in Over Five Years / Housing-Market / Mortgages
By: MoneyFacts
Remortgage activity is currently high as borrowers seek to get the best deal after the base rate rise. As a result, many providers are trying to look attractive as possible. However, although many lenders are reducing rates to appeal to remortgagors, this trend is not being seen for arrangement fees. In fact, the latest research from Moneyfacts.co.uk shows that average mortgage fees* are on the rise, increasing by £15 since August to stand at £1,005 this month – the highest average recorded in more than five years.
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Tuesday, September 04, 2018
UK Mortgage Market Split on Base Rate Hike / Housing-Market / Mortgages
By: MoneyFacts
A base rate rise can cause an element of uncertainty in the mortgage market, as it can often be difficult to predict how providers are likely to react to the news. Now, a month on from the Bank of England’s decision to increase the base rate to 0.75%, Moneyfacts.co.uk assesses the impact this rise has had on the mortgage market.
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Tuesday, August 28, 2018
Rise in Number of UK Credit Impaired Mortgage Deals / Housing-Market / Mortgages
By: MoneyFacts
The number of residential mortgages available has been increasing steadily over the past year as lenders look to diversify their range of products to attract different types of customers. As a result, the latest figures from Moneyfacts.co.uk show that the number of credit-impaired mortgage deals on the market has risen by 118 in the last six months.
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Monday, August 13, 2018
72% of the Base Interest Rate Rise Already Factored into Mortgage Fixed Rates / Interest-Rates / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that two-year fixed rates were already on the rise before the Bank of England’s announcement earlier this month, with the average two-year fixed rate having risen by 0.18% since January 2018.
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Monday, June 25, 2018
UK Fixed Rate Mortgage Gap Hits Five-year Low / Housing-Market / Mortgages
By: MoneyFacts
As two-year fixed mortgage rates continue to rise, five-year fixed rate mortgages are starting to look more appealing. In fact, the latest research from Moneyfacts.co.uk shows that the gap between the average two and five-year fixed rate mortgage is the smallest it has been since August 2013.
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Monday, June 11, 2018
UK Average Two-year Tracker Mortgage Interest Rates Fall / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data (not yet published) shows that the average two-year tracker rate has fallen for the third consecutive month to reach 1.92%, the lowest it has been since the base rate rise back in November
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Monday, April 09, 2018
Average Two-year Fixed Mortgage Interest Rate at 19 Month High / Interest-Rates / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data (not yet published) reveals that the average two-year fixed rate mortgage has increased for the second month in a row, to reach the highest point seen since September 2016.
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Monday, March 12, 2018
Number of 95% Mortgage LTVs Reach Post Financial Crisis High / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data (not yet published) reveals that the number of 95% loan-to-value (LTV) mortgages has increased by 37 in just one month, surpassing the 300 mark for the first time since April 2008.
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Monday, March 05, 2018
Five Year Buy-to-let Mortgage Interest Rates Return to Record Lows / Housing-Market / Mortgages
By: MoneyFacts
In April 2016, the buy-to-let (BTL) market faced a stamp duty rule change, whereby BTL purchases would incur an extra 3% surcharge on the stamp duty payable. As a result, many landlords who are looking to buy a property sought to do so before this tax change.
Those who took a two-year fixed rate deal back then will be thinking about remortgaging soon. In attempts to attract these borrowers, research from moneyfacts.co.uk shows that the average five-year fixed rate has fallen to 3.43% – a joint record-low, which was last seen in October 2017.
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Tuesday, February 27, 2018
Things to Think About Before Mortgage Refinancing / Housing-Market / Mortgages
By: Kavinesh_A
You have probably thought of the idea to refinance your mortgage in order to gain some benefits. Maybe you think it is a pretty good idea, but you first must know what exactly refinancing involves. Keep in mind that refinancing means applying for a loan from some loan intermediary like the Swedish company Sambla and going through the process from the start. It is like buying completely new house. Due to the many details and other things involved in the process, a good idea is to see a financial or mortgage advisor for advice. That way you will get a clear picture about interest rates and other important things.
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Monday, February 12, 2018
Number of UK Interest Rate Tracker Mortgage Products Lowest in Nine Years / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data (not yet published) reveals that after the Bank of England’s Base Rate rise in November, the number of tracker rate products has fallen to the lowest number since September 2009
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Friday, January 26, 2018
Four Ways to Beat the Bank and Lower your Mortgage / Housing-Market / Mortgages
By: Submissions
Read these four ways you can beat the bank and lower your mortgage
A home is usually the most precious thing we own and the biggest financial commitment we make in our lives. Unfortunately, mortgages typically have expensive interest rates and complicated repayment terms that are designed to make us pay more for our homes than we actually need to. With that in mind, here are four smart ways you can beat the bank and lower your mortgage.
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Tuesday, January 23, 2018
First-time Buyer Mortgage Interest Rates Recover from Base Rate Rise / Housing-Market / Mortgages
By: MoneyFacts
While the majority of rates in the mortgage market have started to edge up, research from moneyfacts.co.uk shows that some higher loan-to-value (LTV) mortgage rates have actually fallen since the base rate rise.
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Monday, December 11, 2017
UK Mortgage Providers Giving SVR Borrowers a Reprieve / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that the average standard variable rate (SVR) has increased since the base rate rise on 2 November, as expected. Despite this, it falls short of the anticipated 0.25% rise, instead increasing by 0.14%.
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Monday, November 27, 2017
UK Cashback Mortgage Deals Rise by 27% in Just a Year / Housing-Market / Mortgages
By: MoneyFacts
Buying a new home or getting a new mortgage can often be an expensive process. Cashback can be a great way for cash-strapped borrowers to reduce any costs that may occur, especially as the latest research from moneyfacts.co.uk shows that the number of cashback deals has increased by 27% over the past year.
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Monday, November 13, 2017
Say Goodbye to Sub-1% Mortgage Tracker Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
Mortgage providers have reacted quickly to the Bank of England’s base rate announcement on 2 November, with the majority having already increased their variable tracker rates. In fact, the latest research from moneyfacts.co.uk shows that not only has the average two-year variable tracker rate increased by 0.20% since 1 November, but the sub-1% two-year tracker is now no longer on offer.
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Monday, November 06, 2017
UK Mortgage Two-year fixed rate sees highest rise in eight years / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, shows the average two-year fixed mortgage rate has risen from its historic low in October with a significant 0.12% increase, the highest monthly rise the Moneyfacts Treasury Report has seen since August 2009.
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Thursday, October 26, 2017
Interest Only Mortgage Time Bomb Warning from the CML / Housing-Market / Mortgages
By: Kavinesh_A
The Council of Mortgage Lenders (CML) has provided a fresh warning that millions of homeowners who had taken out a Interest only mortgage to purchase their home many years ago are now facing the prospect of losing their home when there mortgage product reaches it’s expiry. The debate of an Interest only mortgage ticking time bomb has been rumbling on for many years but things have become more apparent this week as the Council of Mortgage Lenders highlighted that up to 1.9 million homeowners are going to start reaching the end of their mortgage lifespan and asked to pay the outstanding balance of what they owe. Unfortunately for many people who took out their mortgage 20 years ago they are now approaching retirement age and therefore seen as being too old to take out another mortgage product.Read full article... Read full article...
Monday, October 23, 2017
First-time Home Buyers Already Facing Interest Rates Rrise Shock / Housing-Market / Mortgages
By: MoneyFacts
The latest research from moneyfacts.co.uk shows that while the average two-year fixed mortgage rate has experienced an increase at all loan-to-values (LTVs) in the past month, rates at 95% LTV have been the hardest hit, showing a 0.10% increase from September compared to a 0.03% increase in the average rate at 60% LTV.
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Monday, September 25, 2017
UK Mortgage 90% LTV Fixed Rate Deals Hit Record High / Housing-Market / Mortgages
By: MoneyFacts
While many of the record low mortgage rates launched on to the market are reserved for those with a sizeable deposit, the latest research from moneyfacts.co.uk shows that the higher loan-to-value (LTV) market is going from strength to strength, seeing not only a significant drop in rate but also the number of two-year fixed rate deals on offer hitting an all-time high.
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Tuesday, August 29, 2017
Discounted Mortgages Make Better Deals for First Time Home Buyers / Housing-Market / Mortgages
By: MoneyFacts
First-time buyers looking for a mortgage may instinctively opt for a fixed rate deal to give them the peace of mind of knowing their monthly repayments won’t change even if base rate rises. However, research from moneyfacts.co.uk shows that first-time buyers may be significantly better off if they were to opt for a discounted variable rate deal instead, as the average fixed rate at 95% loan-to-value (LTV) is 0.82% more expensive than the current average discounted variable rate.
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Tuesday, August 15, 2017
UK Remortgage Customers Beware of Interest Rate Rises / Housing-Market / Mortgages
By: MoneyFacts
Remortgage customers have been able to benefit from some of the lowest rates ever seen, yet recent research from moneyfacts.co.uk shows that time may be up for these competitive deals. The table below highlights how the rates available to those remortgaging have creeped up in the past six months, with the average two-year fixed rate for those remortgaging now even higher than a year ago.
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Monday, July 24, 2017
First-time Home Buyers: Wave Goodbye to Record Low Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
Borrowers have been treated to record low mortgage rates, but while rates remain at their lowest for those with large deposits, research from moneyfacts.co.uk shows that for those with a small deposit the trend seems to be reversing. In fact, the average two-year fixed rate at 95% loan-to-value (LTV) has increased by 0.10% since April and a shocking 0.35% since the start of the year.
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Monday, July 10, 2017
UK Mortgage Inetrest Rates Reach New Lows Despite Growing Economic Pressures / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data highlights that both the average two-year fixed rate and the two-year variable rate have fallen to their lowest point on Moneyfacts records, defying economic indicators.
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Monday, July 03, 2017
UK Average Fixed Mortgage Arrangement Fee Breaches £1,000 / Housing-Market / Mortgages
By: MoneyFacts
Competition in the mortgage market has reached full throttle, with borrowers seeing some of the lowest rates on record, particularly in the fixed rate market. However, despite this ongoing price war, the latest research from moneyfacts.co.uk shows that fees on fixed rate mortgages are on the rise, having now reached their highest point since August 2013.
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Monday, June 26, 2017
Increased Choice in UK Credit Impaired Subprime Mortgages / Housing-Market / Mortgages
By: MoneyFacts
While the subprime market all but died out after the financial crisis, the latest figures from moneyfacts.co.uk show that credit impaired mortgages are starting to make a comeback, with the number of credit impair deals having increased by 167 products in the past quarter.
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Monday, June 12, 2017
UK SVR Difference Closing in on Mortgage Averages / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, available today, shows not only that borrowers who are coming off a two-year fixed rate deal this month are more likely to remortgage from their SVR than at any time since October 2008, but also that by doing so they will be saving approximately the cost of a two-year variable rate
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Monday, June 05, 2017
Six-month Review of the UK Mortgage Landscape / Housing-Market / Mortgages
By: MoneyFacts
The first half of 2017 has seen the mortgage market ramp up its competition yet again, with providers fighting for borrowers’ attention. As a result, research from moneyfacts.co.uk shows that the average five-year fixed rate has fallen by 0.04% since January.
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Tuesday, May 23, 2017
First-time Buyers Finding Help to Buy ISAs Less Helpful / Housing-Market / Mortgages
By: MoneyFacts
Whilst figures from the Office for National Statistics show that house price rises have slowed recently, those looking to get on the first rung of the housing ladder are still faced with the daunting task of gathering together a substantial deposit. With the latest research from moneyfacts.co.uk showing that the top-paying rates on the Government-backed Help to Buy ISA have been slashed by a whopping 1.73% since its launch in 2015, first-time buyers are likely to find it even more difficult to save.
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Monday, May 22, 2017
Buy-to-Let Mortgages for Limited Companies Double / Housing-Market / Mortgages
By: MoneyFacts
The Buy-to-Let (BTL) market has faced extra scrutiny recently as landlords have been hit by several BTL tax changes in recent years. As tax reliefs are being cut, landlords are looking at their options, with many considering incorporation. Luckily for them, research from moneyfacts.co.uk shows that the proportion of BTL deals available to limited companies has doubled in just one year.
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Monday, April 24, 2017
Mind the Mortgage Gap - High LTV Interest Rates Soar / Housing-Market / Mortgages
By: MoneyFacts
Research from Moneyfacts.co.uk reveals that despite average mortgage rates falling across the market, the gap between the 60% loan-to-value (LTV) bracket and the highest LTV band (95%) has expanded. Statistics show the divergence has grown by 0.31% in just six months.
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Monday, April 10, 2017
UK Help to Buy Vacuum Contributes to Mortgage Interest Rates Rise / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that the average two-year fixed rate at 95% loan-to-value has increased by 0.25% since January 2017, bringing the figure back to around the same rate it was a year ago.
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Monday, April 03, 2017
How to Beat Inflation by Fixing your Mortgage for Five Years / Housing-Market / Mortgages
By: MoneyFacts
With inflation starting to bite and the cost of everyday goods rising, now may be the time to think about fixing bills so they do not increase for the foreseeable future. Fixing your mortgage now, particularly for five years’ time, can inflation-proof at least part of your monthly outgoings. And with Moneyfacts.co.uk research showing that the average five-year fixed rate mortgage at 75% loan-to-value (LTV) has fallen by 0.32% in just one year, now might be the perfect time to grab a long-term fixed rate deal.
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Monday, January 30, 2017
UK Mortgage Cashback for first-time Home Buyers Decreasing / Housing-Market / Mortgages
By: MoneyFacts
Cash rebates are seen as a great sweetener for cash-strapped first-time buyers, with the providers that offer this type of incentive really standing out from the crowd. However, research by Moneyfacts.co.uk shows that the average cashback for those with a modest deposit (90 and 95% loan-to-value) has fallen by £59 in just two years.
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Monday, January 23, 2017
Building Societies are Winning the Mortgage Interest Rate War / Interest-Rates / Mortgages
By: MoneyFacts
With competition still fierce in the mortgage market and many banks claiming to launch the lowest products ever on their records, many borrowers could assume that the mortgage rates from these providers will be significantly lower than those offered elsewhere. However, Moneyfacts.co.uk research shows that building societies are the winners when it comes to the mortgage rate war.
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Tuesday, January 10, 2017
UK 10-year Fixed Interest Rate Mortgages Conundrum / Housing-Market / Mortgages
By: MoneyFacts
Given the negotiations on the UK’s future relationship with the EU, we are expected to have some uncertain times ahead. Borrowers are likely to be worried about how this will affect mortgage rates, with many looking for long-term mortgage repayment security to shield them from an unpredictable future. A 10-year fixed rate mortgage could be just the solution, particularly with research from Moneyfacts.co.uk showing that the 10-year fixed rate market is flourishing.
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Monday, December 12, 2016
UK Mortgage Market Competition Ramped up in 2016 / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that there has been significant improvement amongst the lenders who have 80%* share of the mortgage lending.
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Monday, December 05, 2016
UK Housing Mortgages - Goodbye to the Government Help to Buy Guarantee / Housing-Market / Mortgages
By: MoneyFacts
On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. Moneyfacts.co.uk looks back at the significance of the scheme and what effect it has had on high loan-to-value (LTV) mortgages.
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Tuesday, November 29, 2016
Fee Free Mortgages on the Rise / Personal_Finance / Mortgages
By: MoneyFacts
Research from Moneyfacts.co.uk reveals that the number of fee-free deals available to those looking for a fixed rate mortgage has more than doubled over the past year. This has given borrowers looking to minimise upfront costs even more choice.
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Monday, November 14, 2016
Average Five-year UK Fixed Rate Mortgage Falls Below 3.00% / Personal_Finance / Mortgages
By: MoneyFacts
The cost of the average five-year fixed rate mortgage has fallen significantly over the past year, with many providers launching the lowest ever rates. This competition has seen the average five-year fixed mortgage rate fall below 3.00% for the first time on Moneyfacts.co.uk records.
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Wednesday, October 12, 2016
Some Mortgage Lenders Unresponsive to Base Rate Cut / Housing-Market / Mortgages
By: MoneyFacts
Two months on from the base rate cut on 4 August, many might assume the full effect of the cut should now be visible. However, research from Moneyfacts.co.uk shows that the effect is mixed at best.
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Monday, October 10, 2016
Bank Current Account Overdraft Fees Hit a High, Attacking Careful Customers / Personal_Finance / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that the average two-year tracker rate has increased by 0.07% in just one month, bringing the figures back to July 2016’s level and cancelling out the “base rate effect”.
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Tuesday, October 04, 2016
An Offset Mortgage Could be a Saviour for Savers / Housing-Market / Mortgages
By: MoneyFacts
Borrowers with a separate mortgage and savings account are currently faced with rock-bottom savings rates, meaning they get little return for stashing their cash. By combining the two products into an offset mortgage, borrowers will not only be able to reduce the size of their mortgage, but save thousands of pounds in mortgage interest. They could be particularly beneficial at present, as research from Moneyfacts.co.uk shows that the average offset fixed rate has fallen further.
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Monday, September 26, 2016
UK Property Equity Release Mortgage Customers Have Never Been Better Served / Housing-Market / Mortgages
By: MoneyFacts
Competition amongst equity release lenders has clearly intensified in recent years and it is now at a point where perspective equity release customers have never been better served in terms of choice and interest rates, according to the latest research by Moneyfacts.
In fact, there are now a total of 75 different lifetime mortgage equity release deals available, covering a wide spread of options and loan-to-values (LTVs), an increase of 63% on the number of deals available a year ago and more than double the total number three years ago.
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Monday, September 12, 2016
Moneyfacts UK Mortgage Trends Treasury Report / Personal_Finance / Mortgages
By: MoneyFacts
Moneyfacts UK Mortgage Trends Treasury Report data, not yet published, highlights that borrowers who took out a two-year fixed rate mortgage will have less incentive to switch from their Standard Variable Rate (SVR) to a new deal. The graph shows the difference between the two rates, which is the lowest it has been for six months.
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Tuesday, August 16, 2016
Average Two-year Tracker Mortgage Breaks Below 2pc Barrier / Housing-Market / Mortgages
By: MoneyFacts
Over a week has passed since the Bank of England base rate dropped to 0.25%, its lowest level in over 300 years. This has led to a spur in activity in the tracker mortgage market. The average two-year tracker mortgage deal has just broken the 2% barrier for the first time on record, according to the latest figures released by Moneyfacts.co.uk.
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Monday, July 25, 2016
Six-month Review of the UK Mortgage Market / Housing-Market / Mortgages
By: MoneyFacts
When looking back at the first half of 2016 it’s clear to see that the mortgage market has had a significant boost, resulting in some of the lowest rates on record. In fact, research from Moneyfacts.co.uk shows that, since the start of this year, average rates across all fixed mortgage terms have fallen; the average two-year fixed rate has seen the biggest reduction, falling by 0.24% since January this year.
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Monday, June 27, 2016
UK Mortgage Cashback Deals in Decline / Housing-Market / Mortgages
By: MoneyFacts
Cash rebates were once a great way for providers to stand out in the highly competitive mortgage market. However, research from Moneyfacts.co.uk shows that these deals have begun to fall from favour, resulting in the number of available deals dropping by a staggering 280 in just one year.
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Friday, June 24, 2016
Insanity Definition on Full Display in US Mortgage Market / Housing-Market / Mortgages
By: Michael_Pento
Wells Fargo recently announced a new mortgage product they are calling “A game changer in the industry.” According to the bank, this product is purported to facilitate the dream of homeownership to more people by …wait for it... lowering the down payment and out-of-pocket costs associated with a more conventional mortgage products, while also offering more consumer friendly income and credit guidelines.
This new product that those at Wells Fargo have declared “revolutionary” is called yourFirst MortgageSM and one has to imagine it must have been developed by somebody with a severe case of amnesia and who has recently suffered from a bad concussion.
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Tuesday, June 21, 2016
UK Fixed Rate Mortgages - Move Over Banks, Mutuals Offer Borrowers Better Deals / Housing-Market / Mortgages
By: MoneyFacts
Due to bigger banks taking greater advantage of the Government’s Funding for Lending Scheme to fund their mortgage books (and still having a significant sum of cash left to use), many would assume that mortgage rates from these providers would be significantly lower than those offered by the rest of the market. However, research from Moneyfacts.co.uk has found that building societies are actually the undeniable winners when it comes to mortgage deals.
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Tuesday, May 31, 2016
UK Mortgage Interest Rates Before and After the Help to Buy Scheme / Housing-Market / Mortgages
By: MoneyFacts
Since the introduction of the Help to Buy Mortgage Guarantee Scheme in October 2013 the market for high loan-to-value mortgages has been well and truly shaken up. Indeed, as a result of the scheme, Moneyfacts.co.uk can reveal that the number of 95% loan-to-value (LTV) mortgages has jumped from just 56 products in October 2013 to 271 today.
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Monday, May 23, 2016
Mind the Gap! High-LTV Mortgages Get Cheaper / Housing-Market / Mortgages
By: MoneyFacts
Heightened competition in the mortgage market has given those with smaller deposits a boost, as not only are there more deals for borrowers to choose from but there are also lower rates. In fact, Moneyfacts.co.uk can reveal that the difference in rates between the average two-year fixed mortgage at 60% and 90% loan-to-value (LTV) has reduced by 0.93% to 1.03% in just two years.
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Monday, May 09, 2016
UK Fixed Rate Mortgage Fees Hit Two-year High / Housing-Market / Mortgages
By: MoneyFacts
Mortgages have become increasingly competitive over the years, and thanks to low interest rates and Government initiatives, there are many deals on offer that will save borrowers thousands of pounds on their mortgage.
However, despite the long-running price war, the latest research by Moneyfacts.co.uk reveals that mortgage fees are now on the rise, which means borrowers should be even more diligent when working out the cost-effectiveness of a deal.
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Wednesday, May 04, 2016
Barclays Launches 100% Mortgage to Compete with Bank of Mum and Dad - Video / Housing-Market / Mortgages
By: Mario_Innecco
Transcript Excerpt: hi it's out Wednesday's the 4th of May 2016 I'll be talking about Barclays Bank
here in the UK they've just launched the first hundred percent mortgage since the
2008 crisis if you remember well Northern Rock collapse because you know
their lending recklessly so now Barclays Bank is doing the same thing I do have
to say though that it's not surely a hundred percent because it's also called
a guarantor mortgage which basically means that the parents of the young
couple or young person taking on that mortgage they put down 5% the mortgage
in an account with Barclays for three years to guarantee that mortgage and you
know and and the border wars they keep paying the interest and the guarantor
Wednesday, May 04, 2016
Tracker Mortgage Rates Start to Rise as Demand Falls / Housing-Market / Mortgages
By: MoneyFacts
The Bank of England base rate has now been on hold at 0.50% for seven years, so it would be fair to assume that variable rate tracker mortgages have also remained static. However, research from Moneyfacts.co.uk shows that this is not the case, with the average two-year tracker mortgage rate increasing by 0.06% since November 2015.
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Tuesday, April 05, 2016
Could a Three-year Fixed Rate UK Mortgage be Just Right? / Housing-Market / Mortgages
By: MoneyFacts
Uncertain times in the financial world often leave borrowers wondering how long they should fix their mortgage for. In order to meet the needs of those looking for a term that offers the perfect mix of security and a great rate – in other words, one that is ‘just right’ - Moneyfacts.co.uk has found that the number of three-year fixed rate mortgages has increased by 16% in just two years.
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Thursday, March 24, 2016
BBA statistics show that UK mortgage borrowing is 33% higher than a year ago / Housing-Market / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments: “Mortgage borrowing has shown yet another year-on-year rise, which is unsurprising considering that rates in the mortgage market are still falling to new all-time lows. For example, the average two-year fixed mortgage rate has decreased from 3.06% to 2.56% in just 12 months, while the average five-year fixed rate has dropped from 3.60% to 3.20% over the same period.
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Tuesday, March 15, 2016
Sharp Rise in UK Mortgage Deal Freebies / Housing-Market / Mortgages
By: MoneyFacts
In recent years the mortgage market has become an arena for fierce competition, with providers vying to have the lowest deals on the market to attract new customers. But as rates have been slashed, providers have begun to look beyond the headline rate in order to catch the eye of new borrowers. As a result, more and more providers are choosing not to compete on price alone but to also focus on the incentive packages accompanying their mortgages.
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Monday, March 14, 2016
UK Property Equity Release Market Responds to Rising Demand with Greater Choice / Housing-Market / Mortgages
By: MoneyFacts
The equity release market is responding to increasing demand from elderly homeowners looking to unlock cash from their homes with a wider range of products and options, according to new research by Moneyfacts.
The research, which focused on the current offerings available in the equity release market, found that there are now 70 different lifetime mortgage equity release deals available covering a wide range of options and loan-to-values (LTVs), an increase of 34% on the number of deals available last year and more than double the total number from three years ago (see the table below).
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Wednesday, February 24, 2016
UK Housing Market Mortgage Lending Surges by 38% / Housing-Market / Mortgages
By: MoneyFacts
“The latest statistics from the BBA show that mortgage approvals are up 38% from last year. The rise has been greatly helped by intense competition in the mortgage market, with every loan-to-value (LTV) and fixed rate being fought over by lenders wanting to gain pole position. As a result, the average two-year fixed mortgage rate, for instance, has dropped from 3.14% to 2.56% in the space of just one year.
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Monday, February 08, 2016
UK Mortgage Fees Hit 21-month High / Housing-Market / Mortgages
By: MoneyFacts
With over 4,500 mortgage products for borrowers to choose from it’s unsurprising that those seeking the most cost-effective deal can become confused by the array of choice available.
Assessing the overall value of a mortgage is becoming even more crucial as research from Moneyfacts.co.uk shows that borrowers are now stumping up more cash to arrange a mortgage, with the average mortgage fee today being a full £68 higher than in June 2014 - a 21-month high.
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Monday, January 25, 2016
UK Mortgage Interest Rates Are Still Falling - So take Advantage! / Housing-Market / Mortgages
By: MoneyFacts
At the end of last year, rumours about a base rate rise in the near-future reached boiling point, but it appears that providers were unaffected by the predictions and chose not to increase their rates – instead, Moneyfacts.co.uk can reveal that fixed mortgage rates have continued to fall across all loan-to-values (LTVs) and terms.
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Tuesday, December 22, 2015
UK Mortgage Interest Rates Recap of 2015 / Housing-Market / Mortgages
By: MoneyFacts
The year of 2015 will been seen by many as the year of the mortgage: competition increased until it reached boiling point, with all sectors of the market becoming embroiled in a fight for borrowers. As a result, rates plummeted until they eventually reached new all-time lows.
Indeed, calculations from Moneyfacts.co.uk based on the average two-year fixed rate mortgage show that a new borrower would now be £805.44* a year better off than they were a year ago.
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Tuesday, December 15, 2015
Yorkshire Building Society New 3.68% Two-year Fixed Rate Mortgage / Housing-Market / Mortgages
By: MoneyFacts
Below is a new product, which has been rated ‘outstanding’ by Moneyfacts.co.uk, the highest rating we award.
Yorkshire Building Society has just launched a new two-year fixed rate mortgage priced at 3.68% until 31.1.18. This deal is for first and second-time buyers who borrow £50,000 up to a maximum of £500,000 at 95% loan-to-value (LTV). A fee of £975 is payable, of which £845 can be added to the mortgage.
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Tuesday, December 08, 2015
Sitting Uncomfortably on Your SVR Mortgate Interest Rate? / Housing-Market / Mortgages
By: MoneyFacts
Back in 2013 the Funding for Lending Scheme had a major impact on the mortgage market, leading to the introduction of what were at the time the lowest rates we had ever seen, particularly for two-year fixed deals. However, consumers who snapped up these deals are now coming to the end of their fixed terms, which means that many will soon start paying their providers’ revert rate. But data from Moneyfacts.co.uk shows that by sitting on the revert rate, borrowers could potentially see their repayment costs shoot up by almost £3,500 a year.
Tuesday, November 10, 2015
The 10-year Fixed Rate Mortgage Gamble / Housing-Market / Mortgages
By: MoneyFacts
With uncertain times ahead with regards to base rate, many borrowers are looking for long-term mortgage repayment security to shield them from future, unpredictable rate rises.
Ten-year fixed rate mortgages do just that, and data from Moneyfacts.co.uk shows that the number of deals available has almost doubled in just one year to meet growing demand. And in even better news, the interest rates being offered have also fallen.
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Tuesday, November 03, 2015
Steady Rise in UK Mortgage Freebies / Housing-Market / Mortgages
By: MoneyFacts
Falls in mortgage rates over the past couple of years have left providers with little room to manoeuvre when it comes to competing on price. As a result, providers have come up with more innovative ways to attract customers.
One of the most popular methods appears to be adding an incentive package to a mortgage deal. Data from Moneyfacts.co.uk shows that the number of mortgage products offering a range of freebies has increased by over third in five years, illustrated by the table below.
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Tuesday, October 27, 2015
The Frightening True Cost of Low Mortgages Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
Borrowers are often bombarded by an array of choice when looking for a mortgage, so it’s unsurprising that many may mistakenly think that opting for the lowest rate will save them money.
However, this is simply not the case; in fact, Moneyfacts.co.uk can reveal that borrowers would actually be better off choosing a deal with no arrangement fee over a lower rate alternative.
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Thursday, October 08, 2015
Tesco Bank’s new 3.89% two-year Fixed Interest Rate Mortgage / Personal_Finance / Mortgages
By: MoneyFacts
Below is a new product, which has been rated ‘outstanding’ by Moneyfacts.co.uk, the highest rating we award.
Tesco Bank has just launched a new two-year fixed rate mortgage priced at 3.89% until 31.1.18. This deal is for all applicants who borrow from £40,000 at 95% loan-to-value (LTV). A fee of £495 is payable, of which £300 can added to the advance of the mortgage. An incentive package for remortgage customers of free valuation and free legal fees is also offered.
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Monday, September 21, 2015
Remortgagors Reap the Benefits / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts.co.uk data can reveal that not only are remortgagors reaping the benefits of more products on the market, but they’re also profiting from significantly lower rates.
With remortgage activity surging to its highest level in four-years*, it looks as though there has been no better time to take advantage of the great deals on offer. The table below highlights how the number of products available to remortgage customers on the market has increased while the rates charged have simultaneously fallen.
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Monday, September 07, 2015
Rising UK Mortgage Interest Rates - Wave Goodbye to Lowest Five-year Fixes / Housing-Market / Mortgages
By: MoneyFacts
Over the past year borrowers have been treated to record low mortgage rates; however, research from Moneyfacts.co.uk shows that the lowest five-year fixed mortgage rates may already be a thing of the past.
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Wednesday, August 26, 2015
UK Re-mortgaging Hits a Four-year High / Housing-Market / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments:
“With many borrowers taking advantage of the record low rates on the market, it’s little wonder that approvals for remortgages are at a four-year high.
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Monday, August 03, 2015
Tesco Bank’s new 3.99% Two-year Fixed Rate Mortgage / Housing-Market / Mortgages
By: MoneyFacts
Below is a new product, which has been rated outstanding by Moneyfacts.co.uk, the highest rating we award.
Tesco Bank has just launched a new two-year fixed rate mortgage priced at 3.99% until 31.10.17. This deal is for applicants who borrow from £40,000 at 95% loan-to-value (LTV). A fee of £495 is payable, all of which can be added to the advance of the mortgage. An incentive package for remortgage customers of free valuation and free legal fees is available.
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Wednesday, July 15, 2015
Is Voluntary Repossession A Good Option When Facing Mortgage Arrears? / Housing-Market / Mortgages
By: Submissions
Victoria Adams writes: What Is Voluntary Repossession?
If you are unable to pay your monthly instalments on a secured home loan/mortgage, there are chances that your lender might want to evict you and repossess your home. In such conditions, the first thought that would strike you would be to hand over your house keys to the lender voluntarily without facing the embarrassment of someone throwing you out of your house. This is known as voluntary repossession.
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Monday, July 06, 2015
Rocketing First-time Home Buyer Mortgage Deals / Housing-Market / Mortgages
By: MoneyFacts
“First-time buyer products have soared to their highest level since 2007, with the number of 90% and 95% loan-to-value (LTV) mortgages now totalling 723 products. This marks a 73% increase on five years ago, when buyers with small deposits only had the choice of 194 products.
“Surprisingly, Help-to-Buy (H2B) doesn’t account for all of these new products, but with the number of deals totalling 437 before the scheme was launched, it is clear that H2B acted as a catalyst for banks and building societies to get in on the act.
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Monday, June 29, 2015
Quadruple Growth in Fee-free UK Mortgages / Housing-Market / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments: “Research from Moneyfacts.co.uk reveals that the number of fee-free mortgages has quadrupled in the last five years, increasing from 220 deals in 2010 to a staggering 902 today.
“With a quarter of the market now offering fee-free deals, it’s clear that lenders are trying to compete in other ways besides the traditional headline rate. By offering multiple product combinations, providers are almost allowing their borrowers to customise their mortgage to suit them.
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Wednesday, June 10, 2015
Building Societies Win the Mortgage War / Housing-Market / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments: “Moneyfacts.co.uk has compared the mortgage offerings of building societies and banks and found that building societies are the undeniable winners.
“The average five-year fixed mortgage rate from banks is 3.51%, while the average rate from building societies is just 3.21% - a whopping 0.30% lower.
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Wednesday, June 03, 2015
UK Cashback Mortgages Double / Personal_Finance / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments: “Since mortgage rates started to tumble the market has seen a marked increase in cashback incentives.
“Research from Moneyfacts.co.uk reveals that today there are 948 cashback mortgage deals compared with 469 four years ago, while the average amount that can be received has shot up from £274 to £475.
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Wednesday, May 27, 2015
UK Offset Mortgage Interest Rates Hit All-time Lows / Housing-Market / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments:
“Research from Moneyfacts.co.uk reveals that offset rates have fallen to record lows with the average offset fixed rate now priced at 2.65%, over one percentage point lower than two years ago (3.68%).
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Wednesday, May 20, 2015
UK Mortgage Borrowers Able to Secure Five-year fixed Deals at Two-year Prices / Housing-Market / Mortgages
By: MoneyFacts
Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, comments: “The cost of the average five-year fixed rate mortgage has fallen significantly over the past year with many providers launching the lowest ever rates.
“With the average five-year fixed rate mortgage priced at 3.45% today, this is considerably lower than what the average two-year fixed rate was offering a year ago (3.73% in May 2014).
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Tuesday, March 31, 2015
UK Average 2-year fixed Rate Mortgage Falls below 3% for First Time / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts records reveal that the overall average cost of a two-year fixed rate mortgage across the different loan-to-values (LTVs) has dropped to below 3% for the first time.
At the start of March 2015 the average stood at 3.06%, but by 30 March it had dropped to 2.98%.
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Wednesday, January 07, 2015
UK Low Interest Rates Surge in 10 Year Fixed Rate Mortgage Deals / Housing-Market / Mortgages
By: MoneyFacts
Research from Moneyfacts reveals that the number of 10-year fixed rate mortgage deals on the market is continuing on a sharp upward trajectory.
Shorter term fixed rate mortgages have been the favoured option for borrowers for many years, but the historic low rates on offer in today’s market means that fixing for longer periods is definitely an attractive offer, hence the rise of the decade-long fixed rate.
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Wednesday, August 06, 2014
Rising UK Fixed Mortgage Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
The ill-fated Government Funding for Lending Scheme was withdrawn from the retail market in January this year, and Moneyfacts can reveal that average interest rates on the popular five and two-year fixed rate mortgages have started to escalate in response. However, at the same time, the lesser known three-year fixed rate has continued to fall.
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Tuesday, July 01, 2014
25 Years of UK Fixed Interest Rate Mortgages / Housing-Market / Mortgages
By: MoneyFacts
During the last 25 years, fixed rate mortgages have moved from the new kid on the block to the preferred choice of today’s mortgage borrowers.
The average house price* in 1989 stood at £55,000, today it has leapt to £260,000. Retail Price Index (RPI), the only inflationary measurement of the day, was 8.3% compared to 3.3% now and Bank of England base rate stood at 14%.
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Friday, May 30, 2014
Home Ownership Debt, Mortgages, Slavery and the Risk of Ruin / Housing-Market / Mortgages
By: Nadeem_Walayat
Britain has a debt based economy where expanding total debt is the primary enabler for the economy to expand and that is the primary purpose of the Bank of England to enable governments to expand total debt be it public or private. However, following the credit crisis collapse of 2007-2009, individuals and banks become reluctant to borrow despite record low interest rates and hence why despite successive Governments (Labour and Coalition) having gone on a relentless spending binge to the tune of £750 billion of new debt the economy stagnated due to the failure to ignite a borrowing frenzy amongst Britain's working population.
Tuesday, May 06, 2014
Fastest Rise in UK Mortgage Interest Rates for Over 2 Years / Housing-Market / Mortgages
By: MoneyFacts
Research from Moneyfacts.co.uk reveals that the average rate charged on a two-year fixed rate mortgage (across all LTVs) increased by 0.09% in one month, the fastest increase in the average rate since February 2012 when it rose by 0.13%.
The average two-year fixed rate increased on fourteen (70%) of the twenty business days in April. It fell just three times (15%). Anyone applying for a two-year fixed on 1 April would have been offered an average rate of 3.52%, but by 30 April it would have risen to 3.61%, or an additional £290.88 over the term for a mortgage of £250,000.
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Wednesday, March 19, 2014
Reverse Mortgages 101 / Housing-Market / Mortgages
By: Don_Miller
My grandfather liked to use clever sayings to make a point. One of his favorites was, “the same thing, only different!” As we pulled together this article, I immediately thought of how his funny little saying applied.
Tuesday, March 04, 2014
UK Mortgages Five Years of Historic Low BOE Interest Rate Analysis / Housing-Market / Mortgages
By: MoneyFacts
Thursday is expected to mark the fifth year of the historically low BoE base rate of 0.5%.
Moneyfacts has analysed the lowest mortgage rates available in March 2009 against today’s equivalents.
The table below shows the lowest mortgage rate five years ago for 60% LTV was 2.99% compared to today’s equivalent mortgage, which charges just 1.48%. After working out the true cost of the mortgage including fees and introductory offers and based on a £150,000 mortgage over 25 years, today’s borrower is saving almost £800 (£788.96).
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Monday, February 17, 2014
Banks Retake UK Mortgages 95% Fixed LTV Market / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts.co.uk research reveals that over the last six months there has been a significant rise in the number of fixed rate 95% LTV mortgages offered by banks, so much so the former market share enjoyed by building societies is being rapidly eroded.
Historically, building societies have held a greater share of the 95% LTV sector, largely due to the fact that banks have been reluctant to offer such high-risk products.
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Friday, October 11, 2013
New Help to Buy Mortgages Halifax, RBS, Nat West, HSBC, Virgin Money, Aldermore, Santander / Housing-Market / Mortgages
By: Nadeem_Walayat
David Cameron brought forward the Help to Buy scheme phase 2 by 3 months to 7th of October 2013 to help kick start a UK housing market lead election economic boom which means that despite the governments five year fixed term date for a May 2015 general election, in reality the election could come at anytime between May 2014 and May 2015. Therefore the stronger the economy the more election cards David Cameron will have to play in the run up to the next general election.
Thursday, September 05, 2013
UK Savings Virgin 3% ISA; Mortgages Leeds Building Society 2.39% Fix / Personal_Finance / Mortgages
By: MoneyFacts
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.
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Tuesday, June 18, 2013
U.S. Mortgage Interest Rates on the Rise; Repeat of Lead-Up to 2008? / Housing-Market / Mortgages
By: InvestmentContrarian
Sasha Cekerevac writes:One reaction that should not surprise long-term investors is that the market will move far quicker and further than most people expect. Even before the Federal Reserve has made any statement regarding the timing of reducing its asset purchase program, investors have already begun selling their fixed-income investments, which is causing yields to rise.
Friday, May 03, 2013
UK Interest Only Mortgage Mis-Selling Scandal - How to Claim Compensation / Housing-Market / Mortgages
By: Nadeem_Walayat
First worthless payment protection insurance, then crushing interest rate swaps on small businesses and now the latest unfolding mis-selling scandal that could dwarf them all is the one of over 3 million interest only mortgages taken out by would-be home buyers during the housing boom years as desperate buyers were forced to over leverage themselves to get themselves onto the housing ladder.
Thursday, April 25, 2013
UK Mortgage Market Record Low Fixed Interest Rates, Current Best 5 Year Mortgages / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts research has revealed a shift in the mortgage products lenders want to sell as the number of five-year fixed rate mortgages increased by 73% in the last 12 months.
By comparison, the traditionally popular two-year fixed rate mortgages have only increased by 33%.
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Tuesday, March 05, 2013
UK Mortgage Market Set for Major Change / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts research reveals that the mortgage market has literally turned on its head in the last five years.
In 2008, everyone wanted to sell to first-time buyers (FTBs); out of 2,096 mortgage products, 957 were aimed at anyone with at least a 10% deposit and only 24 mortgages sought those with a large deposit.
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Wednesday, February 20, 2013
UK Mortgages Hit Lowest Interest Rates Ever! / Housing-Market / Mortgages
By: MoneyFacts
Fixed mortgage rates are dropping like stones, Moneyfacts research reveals. Rates started a slow descent shortly after the Government’s Funding for Lending Scheme (FLS) began last August and have picked up speed with new ‘best ever’ deals coming onto the market almost daily.
We are currently experiencing the lowest two, three and five year average fixed rate mortgages seen since their launch in 1989.
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Thursday, December 20, 2012
When to Pay Off Your Mortgage / Housing-Market / Mortgages
By: Casey_Research
My good friend Rob recently paraphrased Warren Buffett as saying, “If he knew where he was going to live for the next decade, he’d buy a house with a long-term mortgage.” Buffett thought a mortgage was a good hedge against inflation, because the homeowner would pay off the mortgage with cheaper dollars down the road.
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Monday, April 23, 2012
UK Mortgages Fixed Interest Rates Plummet / Housing-Market / Mortgages
By: MoneyFacts
The average rate of a five year fixed mortgage has decreased over the past year, from 5.59% to 4.86% today.
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Tuesday, April 03, 2012
UK Interest-only mortgage house arrest / Housing-Market / Mortgages
By: MoneyFacts
There has been a sudden surge in lenders reducing the LTVs on interest-only mortgages to just 50%, placing them firmly out of the reach of the majority of borrowers.
Lenders cite this as ‘prudent’ borrowing but anyone who currently has an interest-only mortgage at a higher LTV than 50% needs to consider their limited options quickly.
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Monday, April 02, 2012
Falling UK Mortgage Interest Ratesm, Should Borrowers Rejoice? / Housing-Market / Mortgages
By: MoneyFacts
The Bank of England base rate has remained at an all-time low of 0.50% for three years, the longest hold for 60 years.
Moneyfacts research shows that as the current economic climate took hold three years ago the average deposit needed for a mortgage rose to 40%. Currently it hovers around the 25% mark, thanks to an increase in higher loan-to-value deals.
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Thursday, February 23, 2012
Investing in Mortgages Makes Sense While Fed Supresses Yields / Interest-Rates / Mortgages
By: Bloomberg
PIMCO founder and co-CIO Bill Gross spoke with Bloomberg Television's Trish Regan, Lisa Murphy and Adam Johnson today about where to invest, the ETF PIMCO is launching next week and the state of the economy.
Gross said that investing in "mortgages make sense" as "yields are not going anywhere for the next two or three years."
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Thursday, February 16, 2012
Moneyfacts UK Mortgages and Savings Picks of the Week / Personal_Finance / Mortgages
By: MoneyFacts
The Moneyfacts Pick of the Week showcases the best of the latest products to hit the consumer finance market.
Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.
Read full article... Read full article...
Tuesday, January 17, 2012
Demand Outweighs UK Mortgage Choice / Housing-Market / Mortgages
By: MoneyFacts
Moneyfacts research of the residential mortgage market reveals the choice of mortgages on offer has increased from 2,527 to 3,180 over the last 12 months. At the peak of the banking crisis in 2009, the number of mortgages fell to just 1,209.
The increase in numbers came despite a combination of rises and falls across the range of the loan-to-value tiers. Today, the 60% loan-to-value tier offers the most choice but the high deposit required limits its attraction.
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Monday, November 14, 2011
Mortgages for the 'Middle-Rich' Are Class Warfare Ammunition / Housing-Market / Mortgages
By: Money_Morning
Shah Gilani writes:
For weeks now I've been telling you the markets are broken.
Now I'm going to prove it.
Today I'm talking about the housing market. It's broken. The truth is Congress broke it. Of course, it had help from mortgage originators, banks, and a deliriously greedy public.
Read full article... Read full article...
Wednesday, November 09, 2011
U.S. Mortgage Rates are Low, But Are Bankers Willing to Extend Mortgages? / Housing-Market / Mortgages
By: Asha_Bangalore
The 30-year fixed rate mortgage was quoted at 4.0% as of November 4, the lowest since 1971 (see Chart 3). Home prices are attractive as they have declined 32% from the peak in 2006.
Read full article... Read full article...
Wednesday, August 17, 2011
UK Mortgage Fees Rise 17% in a Year / Housing-Market / Mortgages
By: MoneyFacts
The average mortgage arrangement fee has increased by £151 over the last year – a rise of 17%.
In August 2010 the average fee was £879, today it stands at £1,030.
Read full article... Read full article...
Wednesday, August 10, 2011
UK Mortgage Fixed Interest Rates Continue to Fall / Housing-Market / Mortgages
By: MoneyFacts
For the first time since Moneyfacts started recording rates in 1988 the average five-year fixed mortgage rate has fallen below 5%, today standing at 4.99%.
In the last 29 months since bank base rate has been on hold at 0.50%, the average five-year fixed mortgage rate has stood as high as 6.24% (September 2009).
Read full article... Read full article...
Monday, July 25, 2011
UK Capped Rate Mortgage Deals Analysis / Housing-Market / Mortgages
By: MoneyFacts
In the last two years the number of capped mortgage deals has increased from just one to 39.
Lenders such as Coventry Building Society, first direct, The Mortgage Works and Woolwich from Barclays are currently offering capped mortgages.
Read full article... Read full article...
Thursday, June 09, 2011
Hope for First-time Home Buyers as Mortgage Products Treble / Housing-Market / Mortgages
By: MoneyFacts
The number of mortgage products available to first-time buyers has almost trebled since June 2009. There are currently 183 deals designed for those taking their first steps onto the property ladder, compared to just 62 in June 2009.
Read full article... Read full article...
Monday, May 09, 2011
UK Mortgage Interest Rate Fall Below 6.00% / Housing-Market / Mortgages
By: MoneyFacts
The average rate for would be mortgage borrowers with just a 10% deposit has fallen below 6.00% for the first time since March 2008.
Today the average rate for a two year fixed mortgage at 90% LTV stands at 5.98%, 0.40% lower than a year ago.
Read full article... Read full article...
Monday, March 07, 2011
U.K. Tracker Interest Rate Mortgages Fall to All Time Low / Housing-Market / Mortgages
By: MoneyFacts
The average rate on a two year tracker mortgage has fallen to 3.40%, its lowest level since Moneyfacts started monitoring rates in 1988.
Read full article... Read full article...
Monday, February 21, 2011
Best Sources for UK Mortgages, Biggest isn’t always best! / Housing-Market / Mortgages
By: MoneyFacts
The UK’s largest lenders* have a three quarter market share, but only provide 145 (29%) of the top 500 mortgages.**
Just six of the top 50 two year fixed/85% LTV mortgages are offered by the largest lenders, equating to a mere 12%.
Read full article... Read full article...
Wednesday, February 16, 2011
UK Mortgage Market Improves as Higher LTV Mortgages Increase / Housing-Market / Mortgages
By: MoneyFacts
The mortgage market has seen a gradual increase in the number of products offering higher loan-to-values (LTVs), providing some relief to borrowers with limited deposits.
Read full article... Read full article...
Tuesday, February 08, 2011
UK Fixed Mortgage Interest Rates Hit 6 Month High / Interest-Rates / Mortgages
By: MoneyFacts
Average mortgage rates today stand at their highest level in six months as lenders pass on rising funding costs to borrowers.
The cost to lenders of raising funding on the swap rate market has soared in recent months. At the end of November, the two-year swap rate stood at 1.35%, today it stands at 1.98% - 47% higher.
Read full article... Read full article...
Monday, November 29, 2010
UK Mortgages Falling Demand Despite Falling Interest Rates and More Products / Housing-Market / Mortgages
By: MoneyFacts
Over the last year the number of mortgages available to borrowers has grown significantly, with borrowers who have a 20% deposit or less seeing the biggest improvements.
At the same time, rates continue to fall, with the average two, three and five year fixed rates all standing at the lowest level seen since Moneyfacts records began in 1988.
Monday, October 11, 2010
Top Tips for Remortgaging Your House / Housing-Market / Mortgages
By: Credit_Choices
If you want to change your mortgage deal, the way to do this is by remortgaging. You can either change your deal but stay with your current mortgage provider or change to a different mortgage provider altogether.
Read full article... Read full article...
Tuesday, October 05, 2010
How To Decide Between Fixed-Rate and Tracker Mortgages / Personal_Finance / Mortgages
By: Credit_Choices
One of the biggest decisions to make when taking on a mortgage is whether to go for a fixed-rate mortgage or a tracker mortgage. You need to consider your own personal circumstances, and all the potential outcomes of being signed up to each kind of mortgage.
Tuesday, October 05, 2010
Top Tips For Switching Between Mortgage Deals / Personal_Finance / Mortgages
By: Credit_Choices
If your mortgage deal is no longer competitive, it may be time to switch. However, choosing the wrong mortgage could cost you thousands of pounds a year. Here are the most important things to consider when planning to switch mortgages.
Friday, September 17, 2010
Mortgage Repayment Protection, Is it worth it? / Personal_Finance / Mortgages
By: Credit_Choices
Mortgages were seen in the boom years as a foolproof way of borrowing, leading to inevitable profits from soaring house prices. Now the recession has hit, many people are struggling to repay their mortgages by themselves - this is where mortgage protection comes in.
Thursday, August 19, 2010
Banks Enjoying Record Profit Margins on UK Mortgages at Borrowers and Tax Payers Expense / Housing-Market / Mortgages
By: Nadeem_Walayat
Britain has been increasingly operating under an artificial tax payer supported banking system for the past 2 years that exists primarily to funnel tax payer cash onto the balance sheets of the bailed out bankrupt banks by means of capital injections, artificially low interest rates to generate unprecedented margins on loans against savings rates that persistently pay significantly below the rate of inflation and many other mechanisms such as Quantitative Easing which allows banks to borrow from the Bank of England at 0.5% and invest in longer dated government bonds at zero risk at 3.5%, thus generating a 3% risk free profit on tax payer cash.
Thursday, August 12, 2010
First Time Buyers are Seizing the Moment Get Mortgages / Housing-Market / Mortgages
By: MoneyFacts
The First Time Buyer mortgage market has seen an increase in activity of late. Latest figures released by the Council of Mortgage Lenders have shown a 20% rise in approvals for first time buyer mortgages in June.
Moneyfacts research shows that the current average two year fixed first time buyer rate for borrowers with a 10% deposit is 6.15%, down from 6.48% six months ago.
Read full article... Read full article...
Tuesday, August 03, 2010
Another New U.S. Mortgage Fee, Five Golden Rules for Applying for Mortgages / Personal_Finance / Mortgages
By: Amber_Dakar
If you’re in the market to buy a new home, be aware that the U.S. Treasury Department is considering a new mortgage fee to fund the backstops it gives for loans purchased through Fannie Mae and Freddie Mac.
Analysts say the fee may be up to 1.5 percent of the borrower’s mortgage, which would be a big increase from the current 0.25 percent that both Fannie and Freddie currently charge mortgage borrowers. Plus, it remains to be seen if this new charge would be in addition to that current charge!
Read full article... Read full article...
Tuesday, July 20, 2010
Are Increased Bank Mortgage Market Margins Here to Stay? / Housing-Market / Mortgages
By: MoneyFacts
Fixed mortgage rates continue to fall as lenders try to tempt borrowers off record low variable deals.
While borrowers are benefiting from the lowest rates in seven years, lenders are continuing to take record margins.
Read full article... Read full article...
Monday, June 21, 2010
UK Mortgage Interest Rates At 7 Year Low / Housing-Market / Mortgages
By: MoneyFacts
The average rate on two year fixed rate mortgages has fallen to 4.52%, its lowest level since September 2003, when the average stood at 4.51%.
Read full article... Read full article...
Thursday, May 27, 2010
UK Tumbling Mortgage Interest Rates Are Still No Incentive to Borrowers / Housing-Market / Mortgages
By: MoneyFacts
Mortgage rates are being cut, lending criteria is steadily being loosened and product availability is improving. It appears to be a perfect platform to host a resurgence in a struggling mortgage market, but it looks as if there is still little incentive for borrowers to commit to a new deal.
Read full article... Read full article...
Wednesday, May 19, 2010
Buy-to-let Mortage Market Sector Begins Fight Back From Credit Crisis / Housing-Market / Mortgages
By: MoneyFacts
The buy-to-let (BTL) sector was one of the biggest casualties of the credit crisis. At its lowest point (September 2009) 95% of all deals available at the peak of the market (August 2007) were withdrawn.
However, the BTL market has now started its fight back.
Read full article... Read full article...
Wednesday, May 05, 2010
UK Slowly Improving Mortgage Products Market / Housing-Market / Mortgages
By: MoneyFacts
The average shelf life of a current mortgage deal now stands at 30 working days, the longest since August 2007, when the market was heavily subscribed with 9,549 products.
Could this be an indication that we are nearing the end of a volatile mortgage market and is there is still scope for more competition or are lenders waiting patiently to see what intentions a new Government may have?
Read full article... Read full article...
Tuesday, April 27, 2010
U.K. Mortgage Interest Rates at Lowest Level in a Year / Interest-Rates / Mortgages
By: MoneyFacts
When bank base rate dropped to 0.50% last year the mortgage market entered unchartered waters. Initial reductions in mortgage rates were soon wiped out as lenders took an increasing margin for risk.
Tuesday, March 16, 2010
Jump in UK Mortgage Products Availability / Housing-Market / Mortgages
By: MoneyFacts
When the financial crisis hit, the mortgage market haemorrhaged products hitting a low of 1,209 on 1 April 2009.
Since then, lenders have become accustomed to the post financial crisis world and the number of products available has steadily risen, hitting 2,053 today (a 70% increase).
Read full article... Read full article...
Monday, March 08, 2010
Tax Payer Bailed Out Banks Over Charging on Mortgage Interest Rates / Interest-Rates / Mortgages
By: MoneyFacts
Last week saw the one year anniversary of the Bank of England dropping its base rate to the historic low level of 0.50%.
During the last year some of the biggest lenders increased competitiveness, while others appear less willing or able to do so.
Read full article... Read full article...
Thursday, February 11, 2010
Not All UK Fixed Rate Mortgages Are Decreasing / Interest-Rates / Mortgages
By: MoneyFacts
Latest Moneyfacts.co.uk figures show that while fixed mortgage rates are falling, they are only doing so for those with significant equity.
The average two year fixed rate for a borrower with a 10% deposit has increased steadily since April 2009, now standing at 6.48%, the highest level since December 2008.
Read full article... Read full article...
Monday, January 25, 2010
UK Best and Worst Standard Variable Interest Rate Mortgages / Interest-Rates / Mortgages
By: MoneyFacts
Base rate has been at an all time low of 0.50% for the last ten months and with no incentive to move on to a new deal, increasing numbers of borrowers have moved onto their lenders’ standard variable rate (SVR).
While some borrowers benefit from the cut in base rate being passed on in full, others have not been so fortunate, with a difference of £5,670 between the cheapest and the most expensive lenders.
Read full article... Read full article...
Wednesday, January 06, 2010
UK Mortgage SVR Interest Rate Increases Gather Pace / Housing-Market / Mortgages
By: MoneyFacts
Since April 2009 the Bank of England has kept base rate on hold at 0.50%, but since that time eight mortgage providers have increased their standard variable rate (SVR).
Read full article... Read full article...
Tuesday, December 08, 2009
Banks Cut UK Mortgage Interest Rates / Interest-Rates / Mortgages
By: MoneyFacts
Mortgage lenders have continued to cut fixed rates, causing the average two year fixed mortgage rate to continue to tumble.
Last week Moneyfacts.co.uk reported that the average two year fixed had fallen below 5.00% for the first time since June 2009, but since then rates have fallen further, standing at 4.86% today.
Read full article... Read full article...
Thursday, December 03, 2009
Mortgage Lenders Target Short Term Fixed Interest Rate Deals / Personal_Finance / Mortgages
By: MoneyFacts
Lenders have become accustomed to the post banking crisis world: indeed, the signs from the mortgage market indicate that credit conditions are easing and that lenders are more willing to lend.
Read full article... Read full article...
Monday, November 23, 2009
Average Two Year Fixed Mortgage Interest Rate Falls to Lowest Since June / Interest-Rates / Mortgages
By: MoneyFacts
The average two year fixed has fallen to 4.99%, the first time it has been below 5.00% since 23 June 2009.
A string of rate rises during July saw the average quickly rise, peaking at 5.21% by the end of the month.
Read full article... Read full article...
Thursday, November 12, 2009
UK Mortgage Rip Off, Interest Rates Need to Fall Further / Housing-Market / Mortgages
By: MoneyFacts
In the last few weeks a number of lenders including Abbey, Halifax, Leeds BS, Nationwide BS, Northern Rock and Woolwich have made moves to cut mortgage rates, but rates are still a long way of the low reached earlier in the year.
Read full article... Read full article...
Thursday, October 22, 2009
Affordable Mortgage Interest Rates / Interest-Rates / Mortgages
By: LiveCharts
Neil Kokemuller writes: While most banks aren’t currently offering rates at the historically low levels seen earlier this year, overall, mortgage rates are still very affordable. According to bankrate.com, the national average cost for a 30-year fixed rate loan Wednesday (October 21) is 5.23 per cent, compared to 4.99% one week ago.
Read full article... Read full article...
Monday, October 19, 2009
FSA Sets Out Major Reforms For The U.K. Mortgage Market / Housing-Market / Mortgages
By: Submissions
The Financial Services Authority (FSA) today sets out proposals for the major reforms required in the UK mortgage market to ensure that it works better for consumers and is sustainable for all market participants.
Tuesday, October 13, 2009
The Demise of the Self-certification Mortgage / Housing-Market / Mortgages
By: MoneyFacts
The Financial Services Authority’s mortgage market review is due out next week and expectations are that the City regulator will bring new self-certification mortgages to a final end.
Read full article... Read full article...
Friday, October 02, 2009
UK Housing Market Mortgage Products Start to Stagnate at Higher Interest Rates / Housing-Market / Mortgages
By: MoneyFacts
The dust looks to have begun to settle on a volatile mortgage market, as the availability of a current mortgage deal lengthened from 18 to an average of 24 working days during September, the longest since October 2007.
Read full article... Read full article...
Monday, September 21, 2009
Fewer Mortgage Options for First Time Home Buyers / Housing-Market / Mortgages
By: MoneyFacts
Risk remains the overriding factor in setting mortgage rates, with competition amongst lenders continuing to take a back seat.
Borrowers with a 10% deposit have seen just a 0.12% drop in the average mortgage rate, despite the cost of funding to lenders falling 4.35%.
Read full article... Read full article...
Monday, September 14, 2009
UK Housing Market Boosted by Increase of Mortgage Products / Housing-Market / Mortgages
By: MoneyFacts
The number of residential mortgages available is slowly increasing, but still the market is dominated by deals for customers with more than a 25% deposit.
On 1 April 2009 the number of mortgages available hit rock bottom at just 1,209, a 90% drop from the peak of 11,951 products available in July 2007. Today there are 1,392 products available.
Tuesday, August 25, 2009
Banks Continue to Squeeze Mortgage Borrowers as Fixed Rate Mortgage Margins Increase Again / Housing-Market / Mortgages
By: MoneyFacts
Mortgage lenders are showing continuing reluctance to reduce the cost of fixed rate mortgages, despite around a 30 basis point reduction in the cost of funding on the swap rates market.
Read full article... Read full article...
Monday, August 10, 2009
UK Housing Market Mortgage Products Crash / Housing-Market / Mortgages
By: MoneyFacts
Borrowers need to find three times more for a deposit, compared with two years ago when the credit crunch began.
The average LTV has fallen from 91% in August 2007, to 74% today. As a result the average deposit required on a £150,000 mortgage has increased from £13,500 to £39,000.
Read full article... Read full article...
Tuesday, July 21, 2009
Mortgage Lenders Desert Long Term Fixed Rate Mortgages / Housing-Market / Mortgages
By: MoneyFacts
This week sees Manchester BS withdrawing its 30 year fixed rate mortgage, meaning that borrowers can no longer fix their mortgage repayments for more than 15 years.Read full article... Read full article...
Thursday, July 09, 2009
Nationwide Responds to Criticism of 125% LTV Mortgage Lending / Housing-Market / Mortgages
By: Nationwide
As a responsible lender which aims to support its borrowers Nationwide has responded to market conditions and made an option available which enables some existing customers in negative equity to move home. This is not available to new customers. The maximum LTV for existing customers taking a new deal at Nationwide remains at 95%.
Read full article... Read full article...
Thursday, July 09, 2009
Fixed Mortage Interest Rates Still Rising / Interest-Rates / Mortgages
By: MoneyFacts
The cost of fixed rate mortgages continues to rise, even though swap rates have continued to fall during the past month.Read full article... Read full article...
Monday, June 29, 2009
UK Average Fixed Rate Mortgage Interest Rate Hits 6.00% / Housing-Market / Mortgages
By: MoneyFacts
The rising cost of fixed rate mortgages continues as the average five year fixed rate mortgage today hits 6.00%, the highest level since 22 December 2008.
In the last month the average five year fixed has increased by 0.43%, while the average two year fixed has increased by 0.41% to 5.08%.
Read full article... Read full article...
Thursday, June 18, 2009
UK Fixed Rate Mortgages Interest Rate Increases / Interest-Rates / Mortgages
By: MoneySupermarket
Louise Cuming, head of mortgages at moneysupermarket.com, said: "There has been a flurry of activity in the mortgage market, but unfortunately mostly to the detriment of borrowers.Read full article... Read full article...
Monday, June 15, 2009
Fixed Rate Mortgage Interest Rates About to Rise / Interest-Rates / Mortgages
By: MoneySupermarket
- Rising swap rates may herald a new wave of costlier fixed rate mortgage deals
- Two years of decreasing fixed rates have to come to an end
Friday, June 12, 2009
New Lloyds TSB First Time Buyer Mortgage / Housing-Market / Mortgages
By: MoneySupermarket
Commenting on the new Lloyds TSB First Time Buyer mortgage, Clare Francis, site editor at moneysupermarket.com: "This is a great product to help first time buyers get on the housing ladder - not only is the rate competitive, but it's really good to see some new activity in the high Loan To Value (LTV) market. It is another indication that funding pressures on lenders may, at last, be starting to ease.
Read full article... Read full article...
Wednesday, June 10, 2009
HSBC Mortgage Rate Matcher / Personal_Finance / Mortgages
By: MoneySupermarket
Commenting on the new HSBC Mortgage Rate Matcher, Louise Cuming, head of mortgages at moneysupermarket.com, said; "Again HSBC is leading from the front. It has been clear for some time that HSBC is looking to cement its place as a serious player in the mortgage market, and the combined effect of this and the April announcement of £1bn of funding for its 'up to 90% LTV' product range, shows real commitment to this goal.
Read full article... Read full article...
Tuesday, June 09, 2009
Mortgage Borrowers Suffer as Lenders Charging Extortionate Interest Rates / Interest-Rates / Mortgages
By: MoneySupermarket
Despite the Base Rate continuing to hold at 0.5 per cent, providers are increasing average mortgage rates, and the margin above the Libor rate is rising, proving that the Bank of England is increasingly toothless when it comes to regulating the cost of mortgages, with lenders increasing profit margins at the expense of their customers.
Read full article... Read full article...
Sunday, June 07, 2009
Mortgage Lenders Fail to Pass On Base Interest Rate Cuts / Housing-Market / Mortgages
By: MoneySupermarket
Whilst the Bank of England has slashed interest rates by 4.5 percentage points since October, taking the base rate from 5.0 per cent to 0.5 per cent, mortgage lenders have failed to pass the cuts on in full to their existing customers, despite the Government urging them to do so.
Thursday, May 28, 2009
Mortgage Market Locks Up as Interest Rates Soar / Interest-Rates / Mortgages
By: Mike_Shedlock
Yesterday 10 year treasury yields went soaring and the mortgage market literally seized up. Mark Hanson at the Field Check Group has this report that I can share.
Tuesday, May 19, 2009
Mortgage Lenders Increase Margins on Fixed Rate Mortgages / Personal_Finance / Mortgages
By: MoneyFacts
The cost of the average fixed rate mortgage has risen in the last month, with borrowers looking for longer term mortgages being hardest hit.Read full article... Read full article...
Wednesday, May 06, 2009
Banks Fear Housing Market Crash as Mortgage Providers Target 40% Deposit / Housing-Market / Mortgages
By: MoneyFacts
The number of new mortgages requiring a minimum of 40 per cent deposit has increased by 61 per cent in the last six months.
The number of mortgages requiring a 10 per cent deposit has decreased by two thirds in the last six months.
Read full article... Read full article...
Friday, April 10, 2009
How To Take Advantage of Low Mortgage Interest Rates / Interest-Rates / Mortgages
By: Mike_Shedlock
President Obama declares "good news" and says Timing right for millions to refinance . Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans.
Read full article... Read full article...
Sunday, March 22, 2009
Banks Vs Building Societies for Mortgages and Savings / Personal_Finance / Mortgages
By: MoneyFacts
Banks have taken over the mantle from the building societies by offering the most competitive overall deals on both savings and mortgages.
The building societies had offered the best range of products when it came to savings, but it appears that their members have been harder hit than bank customers by the recent cuts in base rate.
Read full article... Read full article...
Wednesday, December 31, 2008
How to get "hundreds of dollars" of Extra Cash per Month, for 30 Years / Housing-Market / Mortgages
By: Marty_Chenard
NOTE: The markets are closed tomorrow. A very Happy New Year to all of you from Cindy and I. Many pit traders will be out on Friday. Schwab gave us indications that they would be on limited staff Friday and would reroute all Friday (Jan. 2nd.) orders through the Canadian exchanges. With that said, we may either take Friday off or do an abbreviated update. Read full article... Read full article...
Sunday, December 28, 2008
Expensive Fixed Rate Mortgages Only Option Available for Many Borrowers / Housing-Market / Mortgages
By: MoneyFacts
Fixed rate mortgages now account for 69% of the market, compared to 51% this time last year.Despite a 2.61 percentage point drop in the two year swap rate between 1 October and today, the average two year fixed rate mortgage has only dropped by 0.71 percentage points.
Read full article... Read full article...
Wednesday, April 09, 2008
HSBC Mortgage Rate Matcher Rescue Offer- Smoke and Mirrors? / Personal_Finance / Mortgages
By: Nadeem_Walayat
Britain's biggest and most profitable bank offers to rescue mortgage borrowers who's fixed rates expire this year to high variable rates, with an offer to match their maturing fixed rates down to 4.5%.
HSBC Remortgage Offer Specs
Read full article... Read full article...
Friday, February 22, 2008
High Risk 125% and 100% Mortgages Disappearing / Personal_Finance / Mortgages
By: MoneyFacts
By the close of play yesterday four of the six lenders that were offering 125% loan to value mortgages had announced that they were to withdraw these higher risk home loans. Alliance and Leicester, Coventry BS, Godiva Mortgages and Abbey are all set to pull these deals this week. Julia Harris analyst at moneyfacts.co.uk investigates:Read full article... Read full article...
Friday, February 15, 2008
UK Long-Term Fixed Rate Mortgage Advantage Over Short-term Interest Rates / Personal_Finance / Mortgages
By: MoneyFacts
As the year goes on, an increasing number of borrowers will be facing the dilemma of what to do once they come to the end of their fixed rate mortgage deals. Julia Harris, mortgage analyst at moneyfacts.co.uk, looks at the options available.
Trackers without penalties
Read full article... Read full article...
Thursday, January 31, 2008
Lenders Raise Mortgage Interest Rates in Advance of UK Interest Rate Cut! / Personal_Finance / Mortgages
By: MoneyFacts
With speculation rife that the Monetary Policy Committee will cut base rate again next week, mortgage lenders have been preparing for the potential increased demand by increasing margins offered on tracker rate mortgages. Denise Harvey, mortgage analyst at Moneyfacts.co.uk investigates.
“In the last two weeks alone, analysis from Moneyfacts.co.uk has revealed that 10 lenders have increased the margins on tracker mortgages by as much as 0.45%.
Read full article... Read full article...
Monday, October 22, 2007
Variable and Fixed Rate Mortages at the Same Price – That Can’t Be Right! / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, Mortgage Expert at Moneyfacts.co.uk - the leading independent financial comparison site, comments:“The sub prime sector continues to see most of the action in the mortgage market, with still rising rates and tightening credit criteria. By comparison the prime mortgage market, albeit slowly, is reacting to the stable base rate and falling swap rates, bringing the market into an unusual equilibrium whereby fixed and variable deals are priced similarly.Read full article... Read full article...
Sunday, September 02, 2007
UK Interest Rate Rises on Subprime Mortgages and Credit / Housing-Market / Mortgages
By: MoneyFacts
BMW credit card from Amex increases rate by 7%
Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk- the money search engine comments: “The standard purchase rate of 9.9% APR made the BMW credit card from American Express a very attractive proposition, but with effect from 28 August, the rate has been hiked by seven per cent to 16.9% APR.
Thursday, August 02, 2007
Good News For Borrowers As Exit Mortgage Exit Fees Fall, But At the Cost of Rising Mortgage Arrangement Fees / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, Mortgage Expert at Moneyfacts.co.uk – the money search engine, comments:“The month following the latest base rate rise to 5.75% has seen a raft of rate rises. Not only have variable rate mortgages increased, with swap rates also on an upward trend, fixed rate deals have been hit hard with rising rates too.
Read full article... Read full article...
Friday, July 13, 2007
Nationwide Launches New UK 25 Year Fixed Rate Mortgage / Personal_Finance / Mortgages
By: Nationwide
Guaranteed stability of payments for 25 years, with full flexibility after 10 years
Nationwide Building Society today announced the reintroduction of its innovative 25 year fixed rate mortgage at a rate of 6.39%. The new 25 year fixed rate will be available from Tuesday 17 July.
Read full article... Read full article...
Thursday, July 12, 2007
Moneyfacts.co.uk Comments on the Long Term Fixed Rate Mortgage Market / Personal_Finance / Mortgages
By: MoneyFacts
Lisa Taylor, Analyst at Moneyfacts.co.uk – the money search engine comments:“This week Alistair Darling, the new chancellor of the exchequer announced that Labour would shortly be issuing proposals to increase the supply of long term fixed rate loans, in a bid to tackle the affordability crisis and concerns that the short term market thrives on collecting regular arrangement fee income.Read full article... Read full article...
Friday, June 22, 2007
Home Buying Valuations - The Forgotten Mortgage Fee / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at Moneyfatcs.co.uk – the money search engine comments:“As we move away from a totally rate driven mortgage market, much focus has been placed on total cost, inclusive of rising arrangement and exit fees. We also talk of higher lending charges, procuration fees and redemption charges, and even go so far about complaining about the money transfer fee. But one fee, which perhaps we view as a service charge, has slipped through the net – the valuation fee.Read full article... Read full article...
Sunday, June 17, 2007
Mortgage Fixed Rates Disappearing Again… / Housing-Market / Mortgages
By: MoneyFacts
Lisa Taylor, of Moneyfacts.co.uk – the money search engine, comments:“With base rate remaining on hold, at least for the next month, we may have expected the mortgage market to have settled. However this is far from the case, especially for fixed rate deals that have been either disappearing off the shelves or increasing rapidly.Read full article... Read full article...
Monday, June 04, 2007
The Hidden Higher Mortgage Lending Charge / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at Moneyfacts.co.uk – the money search engine, comments:“As more people are struggling to afford the substantial deposits required to take that first step on property ladder, it is commonplace for the mortgage advance to represent at least 90% of the property value for many first time buyers.Read full article... Read full article...
Friday, April 20, 2007
Nationwide Building Society today announces changes to its range of Fixed and Tracker rate Mortgages / Personal_Finance / Mortgages
By: Nationwide
Nationwide will be decreasing the rate on its two year tracker product for remortgagers and switchers. At the same time, Nationwide will be increasing some of the rates on its fixed and tracker rate mortgages. The new rates are available from Tuesday 24 April 2007.
Read full article... Read full article...
Monday, March 26, 2007
Moneyfacts comments on the Nationwide Building Society 25 year fixed rate mortgage / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at moneyfacts.co.uk – the money search engine, comments: “The new Nationwide 25-year fixed rate mortgage is competitive when compared with other long-term fixed rates, particularly for those with a 10% deposit. It comes with a fee of £599 (and a £200 discount for existing members), which is not out of line, especially when you take into account some of the four figure or percentage based fees that we are now seeing for short term deals.Read full article... Read full article...
Monday, March 26, 2007
UK Mortgage fixed Interest rates start to fall / Personal_Finance / Mortgages
By: MoneyFacts
Denise Blake, mortgage analyst at Moneyfacts.co.uk – the money search engine, comments: “Following the shock base rate rise in January, fixed rate mortgages flew off the shelves as consumers rushed to get their hands on existing fixed rate deals before they were pulled. But with base rate remaining unchanged now for the last two months, some level of stability has returned.
“With swap rates starting to fall back, Moneyfacts.co.uk has seen eight lenders reduce their fixed rate mortgages over the last 10 days, some by as much as 0.40%.
Read full article... Read full article...
Friday, March 23, 2007
Tread carefully with low rate high fee mortgage loan combinations / Personal_Finance / Mortgages
By: MoneyFacts
Julia Harris, mortgage analyst at moneyfacts.co.uk – the money search engine comments: “During the last month we have witnessed the continuing trend for lenders to launch low rate high fee mortgages. But as fees rocket skywards, is there still a place in the market for low rate high fee products? And who benefits from these deals?
“The trend just highlights how some lenders and consumers are still keen to focus on interest rate, not the whole package. It is worrying that consumers may be duped into these deals, thinking they are getting the best possible rate, without realising the financial impact of such a large fee.
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