WOW Property - News - Mortgages and Interest Rates

News - Mortgages and Interest Rates

MPC expected to announce further rate cut

Monday, January 5, 2009 - 13:00
The Bank of England's Monetary Policy Committee (MPC) is expected to announce another interest rate cut this week.

Businesses appear keen on further reductions, with some asking for one per cent to be remove ...More...

Nationwide says no to further rate cuts

Friday, January 2, 2009 - 13:00
Nationwide building society has said it will not lower the rate of some of its mortgage products.

The lender has introduced a 'floor' of two per cent – should the government cut rates further next week, ...More...

Economy will worsen in 2009, poll suggests

Wednesday, December 31, 2008 - 13:00
The UK economy will worsen in the New Year, a street poll has found.

When asked if the economy would improve, only 33 per cent answered yes, 59 per cent thought it would worsen and eight per cent said it wou ...More...

Lenders launch mortgage and savings sales

Tuesday, December 30, 2008 - 13:00
High street lenders have announced New Year mortgage and savings sales.

The Leeds Building Society has said it will reduce rates and lower monthly payments for mortgage customers and HSBC has unveiled specia ...More...

CML urges government to encourage mortgage lending

Saturday, December 27, 2008 - 13:00
The government has been urged to follow the example being set by lenders and take action to encourage mortgage lending across the UK.

According to the latest figures released by the Council of Mortgage Lende ...More...

Families face repossession despite not being in mortgage arrears

Tuesday, December 23, 2008 - 17:00
A couple from east Sussex have been threatened with repossession, in spite of having never missed a payment on their mortgage.

With the Council of Mortgage Lenders just this week predicting that the number o ...More...

Lenders decline to publish 2009 house price predictions

Monday, December 22, 2008 - 21:00
Partly influenced by the recent turbulence in the global property markets, two of the country's biggest mortgage lenders have declined to make public their predictions for house price trends in 2009.

Accord ...More...

Consumers "treading water"

Friday, December 19, 2008 - 13:00
UK consumers are "treading water" as they struggle to regain the confidence to spend their hard earned money, results of the latest GfK/NOP study have revealed.

The company's Customer Confidence In ...More...

Lender cuts mortgage rates, twice

Thursday, December 18, 2008 - 21:00
Lender Abbey National has cut the cost of some of its mortgage products twice in two weeks.

Its moves followed successive reductions instigated by the Bank of England's Monetary Policy Committee (MPC).
...More...

Mortgage lending halved

Thursday, December 18, 2008 - 13:00
Mortgage lending has fallen by more than half (51 per cent) since November 2007.

The Council of Mortgage Lenders (CML) has revealed a dramatic decline in the amount of money released – 22 per cent less ...More...

Rates could go to zero

Wednesday, December 17, 2008 - 21:00
Interest rates could again be cut, the Monetary Policy Committee (MPC) has suggested.

Minutes of its meeting earlier this month reveal the committee could even follow the US and slash rates to zero.

More...

Top borrowers 'struggling more than ever'

Tuesday, December 16, 2008 - 17:00
Prime borrowers, those with the best credit history, are finding it more difficult than ever to make payments.

According to Standard & Poor's latest report, so-called "prime borrowers" are in t ...More...

Mortgage intermediaries claim better deals

Tuesday, December 16, 2008 - 13:00
The Association of Mortgage Intermediaries (AMI) has claimed it gets better access to mortgage products.

According to its mortgage intermediary barometer, fewer of its members are unable to help customers be ...More...

New builds at pre-war level

Monday, December 15, 2008 - 13:00
The number of new build properties finished this year will be at a level not seen since before the Second World War, the Guardian has reported.

According to a Construction Products Association (CPA) and Erns ...More...

'Super bank' vote, today

Friday, December 12, 2008 - 17:00
Shareholders in HBOS will vote today on its proposed merger with Lloyds TSB, which could create a 'super bank' with 30 million customers.

Lloyds' shareholders have already given the move the green light, how ...More...

Britain headed for a generation of debt

Thursday, December 11, 2008 - 21:00
Britain's reaction to the current economic down turn will leave it facing a generation of debt, a leading financier has claimed.

Germany's finance minister Peter Steinbruck has questioned the government's de ...More...

Lenders fail to pass on rate cuts

Thursday, December 11, 2008 - 13:00
UK lenders have failed to pass on its latest interest rate cut, the Bank of England has claimed.

Its data showed fixed rate mortgages fell by less than half the reduction it recommended.

The Bank's ...More...

Mortgage support details revealed

Thursday, December 11, 2008 - 13:00
Further details of the government's mortgage support scheme have been revealed.

Homeowners who face repossession because they have lost their job could now get to stay in their own home if they qualify for h ...More...

Landlords expect more unpaid rent

Wednesday, December 10, 2008 - 17:00
Landlords expect the credit crunch to leave more tenants unable to pay their rent.

According to research by the National Landlords Association (NLA), 71 per cent of its members predicted arrears will increas ...More...

HSBC will increase mortgage lending

Tuesday, December 9, 2008 - 13:00
Lender HSBC has said it is to increase the amount it lends in mortgages.

It will increase its UK fund by 20 per cent next year to £15 billion – a move welcomed by the government.

"I'm ...More...

Interest rate cut to 2%

Friday, December 5, 2008 - 13:00
The interest rate has been cut to two per cent, its lowest since 1951.

The reduction was announced by the Bank of England after its Monetary Policy Committee met today.

"This is exactly the typ ...More...

Banks fail to pass on full rate cut

Friday, December 5, 2008 - 13:00
UK banks have failed to pass on yesterday's interest rate cut in full.

The Royal Bank of Scotland (RBS) has said it will seek to find a balance between the needs of savers and borrowers, while the Halifax on ...More...

PM: Homeowners will get payment holiday

Thursday, December 4, 2008 - 13:00
The prime minister has revealed homeowners falling behind on their mortgage payments are to be given help from the government.

He announced a scheme whereby interest payments to banks will be covered by the ...More...

Queen's speech will announce banking fines

Wednesday, December 3, 2008 - 13:00
The Queen today is to announce lenders will be hit by fines should they breach new legislation.

She is expected to confirm the new Banking Reform bill will insist banks and building societies sign up to a co ...More...

FSA: Lenders cannot hide behind small print

Wednesday, December 3, 2008 - 13:00
Lenders of tracker mortgages have been warned by the Financial Services Authority (FSA) to not hide behind product small print.

The caution was issued to dissuade them from placing get-out clauses in their t ...More...

CML: Most momentous year for UK financial services

Wednesday, December 3, 2008 - 01:00
The director general to the Council of Mortgage Lenders (CML) has described 2008 as the most momentous year ever.

Addressing the council's annual meeting he said the crash of lender Lehman Brothers had creat ...More...

Brits looking forward to frugal Christmas

Tuesday, December 2, 2008 - 17:00
British consumers are looking forward to a more frugal Christmas and hope to cut out unnecessary spending, new research has revealed.

Norwich Union found 63 per cent want a more meaningful celebration withou ...More...

MPs slammed in performance poll

Tuesday, December 2, 2008 - 13:00
Members of Parliament have been slammed in a new poll that monitored their performance.

According to politics.co.uk, the chancellor came out worst when compared with his rivals.

Following the pre-bu ...More...

Consumers: Prices and interest rates will rise

Monday, December 1, 2008 - 21:00
UK consumers believe prices and interest rates will rise next year.

A survey by Lloyds TSB revealed more consumers (58 per cent) said prices would increase, while four-in-ten said interest rates would also r ...More...

RBS offers 6 month mortgage respite

Monday, December 1, 2008 - 13:00
The Royal Bank of Scotland (RBS) has said its mortgage borrowers will not face repossession for at least six months.

The lender has assured customers it will work with government and the communities it serve ...More...

Banks 'will treat customers fairly'

Friday, November 28, 2008 - 21:00
Banks will treat their customers fairly when dealing with mortgage debt, the British Bankers Association (BBA) has said.

It has responded to a letter from the Financial Services Authority (FSA), which advise ...More...

Mortgage lending will go 'backwards'

Tuesday, November 25, 2008 - 17:00
Mortgage lending will go backwards, according to finance chief James Crosby.

The mortgage expert has predicted new bank mortgage lending will falter, making it harder still for would-be buyers.

Beca ...More...

Mortgage lending up 7%

Thursday, November 20, 2008 - 13:00
Mortgage lending increased almost seven per cent in October, according to the Council of Mortgage Lenders (CML).

Its analysis revealed £18.7 billion was loaned in the month, compared to £17.5 billi ...More...

Tracker mortgage withdrawals 'big shock' for homeowners

Wednesday, November 12, 2008 - 17:00
Homeowners who are coming off mortgage deals are in for a shock as mortgage lenders across the board withdraw tracker deals, say experts.

In the last week, 23 tracker mortgages have been removed from the ma ...More...

Interest rates slashed to 3%

Thursday, November 6, 2008 - 21:00
Drastic measures have been taken by the Bank of England which today made the biggest single interest rate cut since 1981.

The Bank's Monetary Police Committee has taken the base rate down to three per cent & ...More...

Homeowners hoping for interest rate cut

Thursday, November 6, 2008 - 13:00
Cash strapped homeowners are hoping for some relief today with many economists predicting the Bank of England will slash interest rates.

The Monetary Policy Committee (MPC) will today announce whether it pl ...More...

Lenders 'not passing on rate cuts'

Friday, October 31, 2008 - 17:00
Mortgage lenders are not passing interest rate cuts made by the Bank of England on to their customers, it has been claimed.

Despite the Bank's Monetary Policy Committee lowering the base rate last month, le ...More...

Experts predict interest rate cuts

Friday, October 31, 2008 - 13:00
The Bank of England will cut interest rates next Thursday, according to the predictions of 13 economists.

When questioned on what they expected to Bank's Monetary Policy Committee to announce after its month ...More...

Mortgage lending from building societies up

Wednesday, October 29, 2008 - 21:00
More homeowners were lent mortgages from building societies last month than in August, the latest figures have shown.

According to the Building Societies Association, net lending rose to £314 million in ...More...

Homeowners warned of festive dangers

Wednesday, October 29, 2008 - 13:00
Homeowners have been warned of the increased danger to their property on Halloween and Bonfire Night.

According to insurer Norwich Union, October 31st is the worst night of the year for malicious damage and ...More...

Lenders 'should pass on interest rate cuts'

Saturday, October 25, 2008 - 12:00
Housing experts have said that mortgage lenders should be passing on interest rate decreases straight away and not using this time for "profit chasing".

The Homeowners Advice Centre has raised conc ...More...

Owners warned about mortgage fraud

Friday, October 24, 2008 - 12:00
Properties that are unoccupied are more likely to be targeted by mortgage fraudsters, the Land Registry has said.

Heather Edwards, the PR executive for the Registry, said that one way of avoiding mortgage f ...More...

Mortgage lending falls

Tuesday, October 21, 2008 - 16:00
Mortgage lending has dropped in the past year by 42 per cent, and by ten per cent in August alone.

The Council of Mortgage Lenders (CML) has said that gross lending was estimated at £17.7 billion in Se ...More...

Negative equity and repossession becoming a reality

Monday, October 20, 2008 - 12:00
Nearly two million people are facing the prospect of entering negative equity in their property.

Reports have said that Britain is heading towards a more serious housing crash that the one that hit the coun ...More...

Interest rates could hit record low

Friday, October 17, 2008 - 20:00
Interest rates may have to fall to a record low to keep the British economy afloat, experts have said.

The Bank of England's Monetary Policy Committee could bring rates down to two per cent, Roger Bootle, ma ...More...

Nationwide cuts standard mortgage rate

Thursday, October 16, 2008 - 16:00
Nationwide will drop its Base Mortgage Rate by 0.3 per cent.

The lender reacted to the recent Bank of England cut, but failed to pass on the Bank's 0.5 per cent reduction in full.

"Nationwide i ...More...

Lenders drop tracker rates

Thursday, October 9, 2008 - 12:00
Lenders are poised to do away with popular tracker rate mortgage products, the Times has reported.

The paper said it understands many will follow Cheltenham & Gloucester and get rid of mortgages that fol ...More...

Banks join forces and cut rates

Wednesday, October 8, 2008 - 16:00
Banks around the world have joined forces and cut interest rates.

The surprise move united the Bank of England, the US Federal Reserve and the European Bank and reduced rates by 0.5 per cent.

The Ba ...More...

Homebuyers should aim for 'healthy' credit rating

Monday, October 6, 2008 - 16:00
Wannabe homebuyers have been advised to ensure that their credit rating is "as healthy as possible" in the current market.

Neil Young, chief executive of the Young Group, has stated that as lenders ...More...

Tenants given advice on how to get deposits back

Monday, October 6, 2008 - 12:00
With the credit crunch causing many people to keep a tighter rein on their finances, those who are renting may be throwing money away, it has been stated.

According to mydeposits.co.uk, many tenants are fail ...More...

Homeowners 'should know where their money goes'

Wednesday, October 1, 2008 - 16:00
Keeping track of where money is going can help homeowners make better decisions about their finances, it has been claimed.

An independent financial expert has said that being fully aware of outgoing payment ...More...

Renting 'not necessarily' dead money

Monday, September 29, 2008 - 16:00
Parents considering buying a property for their university-attending child rather than letting them rent, have been told that renting is not necessarily dead money.

A spokesman for the property market inform ...More...

Parents providing financial backing for first-time buyers

Tuesday, September 16, 2008 - 16:00
Many first-time buyers are relying on the financial help of their parents to get onto the property ladder, new research has found.

Moneysupermarket.com has said that more than half of the first-time buyers t ...More...

First-time buyers offered £150 mortgage deal

Monday, September 15, 2008 - 16:00
Hard-up first-time buyers could take advantage of a mortgage offer that will see them pay only £150 a month, if they buy a home with George Wimpey South Midlands.

The home builders are offering the deal ...More...

Householders spend on improvements not mortgages

Friday, September 12, 2008 - 16:00
UK householders are increasingly likely to spend money on home improvements than take on new mortgages, research has revealed.

Analyst Hitwise found web visits to house and garden retail sites have increased ...More...

Less mortgage means more choice of products

Wednesday, September 10, 2008 - 12:00
Homeowners looking for the best mortgage products in the current market have been told that the most options are open to them if they borrow less than 60 per cent of the value of the property.

A new study by ...More...

Estate agents struggling to find sales

Tuesday, September 9, 2008 - 12:00
With activity in the housing market becoming more and more defunct as time passes, new figures have stated there is more pressure on the Chancellor than ever to attempt to kick-start the market.

Some estate ...More...

'Crucial' for landlords to know rental market

Friday, September 5, 2008 - 16:00
It is "crucial" for landlords to know their local rental market if they wish to make their buy-to-let investment a success, it has been stated.

Alan Ward, a director of the Residential Landlords As ...More...

Three months needed for good mortgage deal

Friday, September 5, 2008 - 16:00
Homeowners who are close to having to renew their mortgage have been told to allow themselves three months in their search for the best deal.

Stephen Noakes, marketing director at Cheltenham & Gloucester ...More...

Homeowners scared of re-mortgaging rejection

Thursday, September 4, 2008 - 14:35
Many homeowners are risking re-mortgaging to a less competitive rate with their current lender because they are concerned and confused about switching lenders in the current economic climate, new research has found.< ...More...

Homeowners increasing demand for fixed-rate mortgages

Thursday, September 4, 2008 - 14:35
Three-year fixed-rate mortgages are currently the in thing for homeowners as they expect mortgages to remain affordable in the short term, according to new research.

Research from Abbey Mortgages has found t ...More...

Shared equity mortgages are not \'new\'

Wednesday, August 13, 2008 - 15:14
Shared equity mortgages are not a new phenomenon, it is just they are becoming more mainstream, a mortgage expert has said.More...

4.99% mortgages available in Basingstoke

Monday, August 11, 2008 - 17:45
With a lack of viable mortgages currently one of the reason why many people are unable to afford to break into the property market, one developer is offering a low rate which may help some people make the jump.More...

Tenants struggling to afford rent

Monday, August 11, 2008 - 17:43
As many homeowners continue to struggle to meet their mortgage repayments in the current market those renting properties are suffering with the same problems, it has been stated.More...

CML unsurprised by latest mortgage figures

Friday, August 8, 2008 - 16:22
Figures from the Council of Mortgage Lenders (CML) regarding mortgage arrears and possession cases in the first half of 2008 were \'expected\' by the group.More...

Interest rates held at 5%

Thursday, August 7, 2008 - 17:42
Homeowners were given little relief today after the Bank of England opted to keep interest rates at five per cent. More...

Repossession \'should be last resort\'

Wednesday, August 6, 2008 - 12:48
The Financial Services Authority (FSA) has called for mortgage lenders to exercise greater fairness in dealing with people who fall into arrears.More...

Experts predict no interest rate change

Tuesday, August 5, 2008 - 16:00
A poll has revealed that the majority of experts believe the Bank of England will hold interest rates at their current level. More...

Mortgage shortage \'will last until 2010\'

Wednesday, July 30, 2008 - 12:33
The lack of property in the UK looks set to continue for at least another three years, according to experts.More...

Homeowners becoming \'trapped\' with lender

Thursday, July 24, 2008 - 16:50
Thousands of home buyers who have only fairly recently got themselves on to the property ladder could be under pressure to stump up high mortgage repayments, it has been stated.More...

Mortgage advisers letting down customers

Thursday, July 24, 2008 - 16:50
Many wannabe home buyers are failing to receive all the necessary financial advice they should be getting, after an undercover survey has revealed that mortgage advisors are not succeeding in providing all the correc ...More...

Mortgage approvals reach new low

Wednesday, July 23, 2008 - 17:06
New figures from the British Bankers\' Association (BBA) have shown that the number of property buyers being granted a mortgage reached a new low in June.More...

Financial advisors could provide mortgage savings

Wednesday, July 9, 2008 - 15:35
Homeowners who fail to go through their mortgage options with a fine tooth comb could be at risk of paying an average of £18,000 more over the course of their mortgage, it has been stated.More...

Number of available mortgages set to decrease

Tuesday, July 1, 2008 - 16:43
Wannabe homeowners scouting around for the right mortgage will have fewer options than ever from July, as £30 billion worth of cheap fixed-rate mortgages are set to end.More...

Homeowners seek second opinion

Monday, June 9, 2008 - 16:38
With many homeowners unsure of which way to turn in the midst of the recent credit crunch, a large percentage of people have chased advice from another source in order to gain extra help, according to recent research.More...

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