Advice news
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Savings 'can still be made on mortgage deals'
Shopping around to find the best mortgage deal is extremely important in the current credit crunched climate and doing so can help consumers make significant savings. That is according to Moneyextra, which revealed yesterday (Thursday, May 22nd) that mortgage borrowers could save themselves thousands of pounds a year by picking the right deal. However, the consumer finance ...
23rd May 2008
April sees increased gross mortgage lending
Despite widespread reports of toughening conditions in the UK mortgage market, gross mortgage lending experienced a slight increase last month. That is according to the Council of Mortgage Lenders (CML), which published figures yesterday (Wednesday, May 21st) revealing that gross lending climbed to an estimated £25.3 billion in April. This represents an increase of ...
22nd May 2008
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Five-year fixed-rate mortgages more popular
The impact of the credit crunch continues to have an effect on mortgage borrowing, as five-year fixed-rate deals have experienced a growth in popularity. According to the latest figures from the Abbey Mortgage Index, the current turbulence in the UK economy has led 30 per cent of borrowers to say that they would choose a five-year fixed-rate mortgage. This represents the ...
21st May 2008
first direct's return to mortgage lending 'is welcome news'
Those looking to get themselves onto the property ladder can once again apply for a home purchase loan from first direct. The bank previously stopped lending to new customers on April 1st, but announced yesterday (Monday, May 19th), that it is back to business as usual, offering a range of offset mortgages to consumers. first direct took the decision to stop offering ...
20th May 2008
Consumers seeking mortgage advice from brokers
Brokers are increasingly adopting an advisory role for mortgage borrowers, as conditions in the market continue to toughen as a result of the credit crunch. That is according to new research from Alliance & Leicester, published today (Monday, May 19th), which revealed that 76 per cent of brokers said that a growing number of consumers have approached them for advice in ...
19th May 2008
House price falls see increased uptake of fixed-rate mortgages
The continuing house price falls observed throughout the UK are leading many consumers to opt for fixed-rate mortgages. That is according to the latest data from broker John Charcol, which revealed that last month fixed-rate products were chosen by 78 per cent of those taking out a loan for house purchase. This represents an increase of 14 per cent on the figure from the ...
16th May 2008
Homebuyers 'increasingly using mortgage intermediaries'
With conditions in the UK property market becoming increasingly tough, more and more first-time buyers are employing the services of mortgage intermediaries. That is according to new figures from the Council of Mortgage Lenders (CML), which revealed that in the first quarter of this year 82.5 per cent of first-time buyers used an intermediary. The represents a ...
16th May 2008
Mortgage market 'now less competitive'
Prospective buyers will find it even more difficult to get onto the property ladder, as the mortgage market is becoming less competitive. That is the opinion of Darren Cook, head of mortgages for Moneyfacts, who asserted that consumers can no longer benefit from incentives offered by lenders. He noted that there has been a decrease in the number of products available on the ...
15th May 2008
More mortgage borrowers seeking independent financial advice
With conditions in the UK's mortgage market becoming increasingly tough, more consumers are looking to independent financial advisors (IFAs) for help. That is according to new research from website Unbiased, published on Friday (May 9th), which revealed that there was a significant increase in the number of people seeking mortgage advice from IFAs in the first quarter of ...
12th May 2008
Government announces support package for mortgage borrowers
Homeowners struggling with their mortgages in the current economic climate are set to receive a boost from a new government support package. The package, which was announced on Friday (May 9th) by chancellor Alistair Darling and housing minister Caroline Flint, aims to ensure that households at risk of repossession have a better chance of receiving free legal representation ...
12th May 2008