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Monthly Archives: January 2010
Mortgage approvals rose towards the end of 2009
Figures released from major UK banks have shown that the number of mortgages approved for house purchases rose during the final months of last year. Despite this, overall mortgage approvals were 27% lower during 2009 than the previous year and … Continue reading
House prices double, despite falls
Despite falling by a fifth at the end of the last decade, UK house prices have more than doubled since the start of the 21st century. Figures released by the Halifax show that the average UK house price increased from … Continue reading
Homeowners increasingly reverting to SVRs
Increasing numbers of homeowners are moving onto their lender’s standard variable rate (SVR), reflecting a market that currently offers little incentive to opt for a new deal. The cut in the Bank of England’s base rate of interest has proved … Continue reading
Posted in Financial News, Mortgage Lenders, Mortgage News
Tagged Base Rate, Bank of England, Mortgage, Loan, Add new tag, Variable-rate mortgage, Skipton
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Skipton makes first move in a rate rise rush for societies
Mortgage rates are set to soar for hundreds of thousands of borrowers after the Skipton this week announced plans to raise its standard variable rate by almost half despite there being no increase in the bank base rate for a … Continue reading
Tracker popularity set to fall
Homeowners soon having to remortgage are set to shun tracker deals as expectations rise of an increase in base rate. According to Santander, more than 880,000 mortgage deals will come to an end over the coming six months. However, only … Continue reading
Posted in Financial News, Mortgage News
Tagged Add new tag, Banks, Financial services, Mortgage
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Rivals cut their rates after Skipton shock
Two big high street lenders last night reduced their mortgage rates, offering possible alternatives to hard pressed Skipton Building Society customers still reeling from news of a big increase in their mortgage payments. Taxpayer owned Northern Rock and the … Continue reading
Posted in Mortgage Lenders, Mortgage News, New Mortgage Rates
Tagged Northern Rock, Bank of England, Business, Mortgage, Loan, Building society, Add new tag, Skipton, Post Office
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Property Rebound
House prices could rebound to their previous peaks as soon as next year thanks to ultra-low interest rates. Value adjusted for inflation could increase 4 per cent this year and 7 per cent in 2011, bringing the average property price … Continue reading
Posted in Financial News
Tagged Add new tag, Alan Greenspan, Bank of England, Business, Inflation, Interest rate, Mervyn King
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Skipton slaps extra £2,000 on mortgage bills
Tens of thousands of homeowners are facing an extra £2,000 interest on their mortgages every year after Skipton Building Society tore up its contract with customers, blaming the “exceptional circumstances” caused by the credit crunch. Letters are being sent … Continue reading
One in 10 landlords plan to purchase in Q1 2010
Paragon Mortgages’ Trends research reveals that 10% of landlords want to expand their portfolio in the first three months of 2010. Of those looking to purchase, terraced housing is by far the most popular choice of property. Nearly two thirds … Continue reading
Posted in Financial News, Mortgage News
Tagged Add new tag, Business, Buy to Let, Financial services, Mortgage, Property
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Mortgage war launched by foreign banks
Big foreign banks have sparked a mortgage price war which is squeezing interest rates and forcing home-grown lenders to revise their best deals at an ever-increasing rate. Spanish owned Santander, Dutch ING Direct and new face Bank of China … Continue reading
Posted in Mortgage Lenders
Tagged Add new tag, Bank of China, Financial services, Interest rate, Mortgage, Price war
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Justin Moy