The Lloyds banking group has launched a new mortgage which is designed to help borrowers who have found themselves in negative equity as a result of the houses price decline. The support which they are calling the Equity Support Scheme will be launched next month and can be accessed by any borrowers who are with any of the Lloyds group companies. These include the Halifax, Cheltenham & Gloucester and Lloyds TSB. Read more
The next instalment of mortgagerates.org.uk look at 2011 will be looking at re-mortgaging prospects and the future of interest only loans. Following our recent features on the mortgage market in 2011 and the UK economy together with a look at the impact of any future base rate increase4, many borrowers are probably thinking about finding a new mortgage deal. Read more
Since the financial crisis and mortgage market turmoil brought about a collapse in the UK’s property prices, home owners have been asking themselves when things will start getting better. There is never a better time to ask this question than at the start of a new year. A fresh start at the beginning of a new year as well as high hopes from home owners has got many asking whether this will be the year that the British housing market sees a return to sustained and meaningful growth. Read more
Everyone is looking to secure the best deal on their mortgage especially now that there is a real threat of interest rate increases.
The Bank of England’s Monetary Policy Committee have held UK interest rates at 0.5% for 22 months now but things may well be about to change. Inflation is now at 3.7% which is almost double of the 2% target set by the coalition government. Because of this analysts are predicting that interest rates will increase a lot sooner than many expected. Borrowers on variable and tracker mortgages who are concerned about how changes will affect their monthly outgoings have already started to look for a better deal. Read more
It is now generally accepted by many that the Bank of England will be forced to increase interest rates sooner than expected to try and drive down inflation. Most experts are signaling that it’s time for borrowers to start to look for a better deal. Read more
Yesterday we look at how the events of 2007 have impacted the UK economy and mortgage market in 2011. One of the biggest concerns for borrowers is the real threat of a interest rate increase which may push already struggling families into the red. Read more
In the first of a week long feature mortgagerates.org.uk looks at the year ahead. The past few years has probably been some of the most turbulent times in the history of the financial services sector. Back in 2007 a culmination of easy credit fuelled a massive debt bubble that was brought about by both retail and commercial customers insane drive to buy property no matter the cost. Banks and building societies were falling over each other to offer loans to borrowers who had no real way of repaying them. Everyone was gambling on property prices continuing to soar. In a bid to cash in on borrowers thirst for property, lenders started to provide loans to people with poor credit ratings and a history of bad debt. This was the start of the sub prime market. Read more
Times have been great for borrowers over the past few years. Those on a tracker variable mortgage will have benefitted from the lowest base rate in history. The Bank of England have kept interest rates at 0.5% for almost two years. This has meant that many borrowers are on a standard variable rate of 3% or less which means literally hundreds of pounds less per month to pay on their monthly repayments. Read more
The clock is ticking for borrowers looking for a great fixed rate deal. With swap rates on the increase, banks and building societies are starting to increase their prices or take the cheapest deals off sale.
With lenders expecting an increase in interest rates later on this year, many providers are taking their best fixed rate deals off the market. The Halifax, the Uk’s biggest mortgage lender is the latest company to review their product offering and remove their best value deals. Read more
Coventry Intermediaries has announced a cut to a number of home loans in its mortgage range. The cuts include both residential mortgages and buy to let loans with some great rate reductions.
Following the cuts the building society is now offering a base rate tracker at base rate (0.5%) plus 1.75% giving a great rate of 2.25% which is capped at 3.49%. This is great for a mortgage with a loan to value of 65%. Read more