Latest News
Attractive Mortgage Deals Introduced by the Co-operative Bank
On January, 19th the Co-operative Bank announced the launch of new mortgages for borrowers with large deposits.From Friday, January, 20th borrowers with 40% deposits can get either a fixed-rate of a tracker mortgage at just under 3%.As such, a 2-year fixed-rate mortgage with 60% loan-to-value ratio is available for buyers at just 2.79%. The same... Read more
New Fixed-rate Mortgage Available from Nationwide
On January, 12th one of the leading UK lenders, the Nationwide building society, announced the launch of a brand new fixed-rate mortgage deal that may be very attractive for first-time buyers.The 90% loan-to-value ratio deal is available for borrowers at as low as 5.29% and a 900 pounds fee. The deal is fixed for 2 years.Those who are ready to... Read more
Availability of Mortgages in UK Shrunk in December
The latest report by Mortgage Brain published on January, 10th suggests that the number of mortgage products available in the UK slightly fell in December, 2011.Despite this fact, however, the overall number of mortgage loans available to Brits in the past 6 months of 2011, was 6% up from the first half of the year.Banks and building societies... Read more
Mortgage Availability Improved by 87% in 2011
A research by Mortgage Brain found out that the number of available mortgage products in the UK has increased by as much as 87% in the past 12 months.As such, in December 2011 there are 14,052 mortgages available from UK banks and building societies, whereas there were only 7,519 products available at the same time last year.According to Mortgage... Read more
Mortgage Payments Account for 12% of Household Income – CML
The latest figures revealed by the Council of Mortgage Lenders (CML) suggest that mortgage payments were affordable to most Brits in October 2011.As such, first-time buyers in the UK only spent 12% of their household income on monthly interest payments, while home movers spent even less, only 9.2% of their income. The same low levels were last... Read more
Brits Need to Save for 10-20 Years for Mortgage Deposit
The latest research by savings and investment website, InvestorBee, revealed that Londoners have to save for 19 years to get enough money for a mortgage deposit.According to the company's data, an average salary of a Londoner now stands at just over 45,500 pounds, whereas an average deposit required by mortgage lenders typically amounts to 20% of... Read more
Leeds Cuts Interest rate on Its 10-Year Fixed Mortgage
On Tuesday, November 22nd the Leeds Building Society announced a 1% cut in its 10-year mortgage interest rate. Now, this product is available to all borrowers with a 20% deposit at as low as 4.99%.The new interest rate will be effective till February, 28th 2022.Commenting on the lender's move, Kim Rebecchi of the Leeds Building Society, said:... Read more
Nationwide Doubles Mortgage Lending Volume
One of UK leading lenders, Nationwide, increased its mortgage lending by almost 50% in the first 6 months of 2011.According to the latest report by Nationwide, the mortgage lending by the building society increased 48% in the first 6 months of 2011 compared to the same time period in 2010.The lender did gross mortgage lending of 8.9 billion pounds... Read more
Remortgages Help Save Money – Barclays
Many Brits choose not to remortgage and lose thousands of pounds, say housing and mortgage experts at Barclays.A survey recently performed by one of the leading British lenders, Barclays, suggests that many Brits lose money by choosing not to remortgage.The results of the poll by the bank prove that almost 60% of those questioned have never even... Read more
Buy to Let Remortgage Activity in UK Increases
Reports by the Council of Mortgage Lenders and Paragon Mortgages suggest that activity in the buy to let remortgages sector has increased significantly between Q1 and Q2 2011.The latest report by the Council of Mortgage Lenders suggests that remortgage activity increased in the past months. In the opinion of experts from Paragon Mortgages, a 21%... Read more