75 percent of mortgage holders have no plans to cope with rising interest rates
February 27, 2011
According to Nationwide research, around 75 percent of homeowners with a mortgage have no plans at all to consider how they will cope when the interest base rate rises, as it inevitably will.
As any mortgage advisor will tell a customer looking to apply for a mortgage, it is important that if they ever find themselves struggling to maintain their household expenses or Read more
Leeds Building Society pledges to increase new mortgage lending
February 24, 2011
Following an increase in new mortgage lending last year of 6%, Leeds Building Society has promised it will be increasing its new mortgage lending levels by 30% in 2011.
Last year, the building society increased its retail deposits to a new record level, a move which saw its pre-tax profits rise by approximately one third to an impressive figure of £42.2 million.
The UK’s fifth largest mutual society has announced its Read more
CML figures shows first-time buyers need 1 year’s salary for deposit
February 21, 2011
According to recent statistics released by the Council of Mortgage Lenders (CML), the average first time buyer now needs approximately one year’s salary to put down as their initial deposit on a property purchase.
In early 2007, the typical FTB deposit was Read more
Equity release report says 40% use it to pay off mortgage
February 18, 2011
Bridgewater Equity Release has released a report this month showing the results of their study into why people choose to release equity from their homes and how their extra cash is used. 43 per cent said it was to pay off a current mortgage.
Examining their own customers’ sales and additional advances over the course of last year, Bridgewater discovered the top five purposes were Read more
Northern Rock preparing for sale or flotation?
February 15, 2011
Rumours in the media this week say that nationalised bank Northern Rock could be preparing to re-launch its range of mortgage products, including its first high LTV mortgage deal aimed at the first time buyer market since its nationalisation in the credit crunch.
Reportedly, the bank is preparing for a sale or stock Read more
Santander owns one fifth of mortgages in the UK
February 12, 2011
This month, Spanish bank Santander has announced its profits for 2010. Despite the fall in gross lending that most UK mortgage lenders have also seen, the bank has grown by 11 percent in comparison with 2009.
One reason for such growth is the acquisitions of other prominent UK lenders, such as Abbey and Alliance & Leicester.
Overall, the figures show that the Read more
What to do if you can’t make your mortgage payment
February 9, 2011
In the last year or so, many have found themselves struggling with their mortgages. Others have found their mortgage payments have dropped due to the record low base interest rate. Yet with talks in the media that interest rates are likely to rise this year, the storm isn’t weathered Read more
Scotland housing market shows signs of recovery
February 6, 2011
According to the official figures from the RoS (Registers of Scotland, the prices of Scotland properties increased slightly towards the end of 2010, despite the uncertain economic climate and a reduction in the number of sales.
Looking at the figures representing the Read more
Equity release body SHIP welcomes WRIC
February 3, 2011
Equity release trade body SHIP (Safe Home Income Plans) has welcomed the launch of the WRIC, which has been set up to investigate how the UK can change its plans to help its aging population prepare for retirement.
The WRIC was launched by NAPF Read more
