Mortgage News & Articles
Latest Mortgage News
House
Prices rise again 01/12/2009
Commenting
on the figures Martin Gahbauer, Nationwide's Chief Economist said:
''The
monthly rate of house price inflation was unchanged in November at a
seasonally adjusted 0.5%, leaving the average price of a typical property 2.7%
higher than a year earlier. At £162,764, the average house price is at a
similar level to where it was in early 2006. The 3 month on 3 month rate of
change - generally a smoother indicator of the near term trend - dropped to
2.8% from 3.5% in October and 3.8% in September. This suggests that house
prices are now rising at a more moderate pace than in the spring and summer
months, when they experienced a very strong bounce form the early 2009 lows.''
For
the latest report - click
here
Woolwich/Barclays reduce rates 20/10/2009
Woolwich reduce some Fixed Rate products. Their notification this morning
reads:
With swap rates falling in response to lower base rate expectations, we
are pleased to announce lower fixed rates with effect from Wednesday 21
October 2009. Two year fixed rates will start from just 3.79%! This coupled
with our great range of Lifetime Tracker and Offset products already in place,
we ensure we have a competitive product no matter what your clients are
looking for. By popular demand we are also introducing a new Buy to Let
Lifetime Tracker.
For more information, please get in touch
Self Cert mortgages to be 'killed off' 19/10/2009
As reported by BBC & Sky news this morning,
Self-certified mortgages are to become a thing of the past after
regulators moved to ensure loans are no longer approved for borrowers who
cannot repay them.
The Financial Services Authority unveiled a raft of measures in a
crackdown aimed at making the mortgage market fairer and more sustainable. More
info
Northern Rock Reduce Interest Rates 16/10/2009
Northern Rock are confirming that they are still in the mortgage market by
reducing rates to become more competitive in the market place,
Northern Rocks Announcement:
We have reduced mortgage rates again and we're now
offering rates from as low as 2.69% with immediate effect.
Residential Fixed Rates have been reduced by up to
0.40%
2 Year Headline rates for residential purchase customers now start from 3.69%
up to 70% LTV with a £595 Product Fee.
Residential Tracker rates have been reduced by up
to 0.10%
2 Year Trackers for residential purchase customers now start from 2.69% (BOE +
2.19%) up to 70% LTV with a £595 Product Fee.
For more information on rates and mortgages, please get in touch
Should I Fix or Track 23-10-2009
Nationwide releases new product to enable lenders to select a Tracker product
with the benefit of switching to a fixed rate when the Bank of England rate
rises.?
Nationwide Announcement:
Our current range of products offers very
competitive rates from just 2.94% for a 2 year tracker with a 70% LTV and a
£896 reservation fee (plus £99 booking fee).
Ok - so they're linked to the Bank of England Base
Rate, but most financial commentators seem to agree that we're not going to
see much movement in that area for the next 12 months or so. Of course, we
can't guarantee this, but what we can do is let you pass on to your clients
the reassurance that comes from our built-in 'Switch & Fix' facility.
If interest rates start to rise, all our tracker
mortgages include the option to switch to one of our switcher fixed rates
products without paying an Early Repayment Charge. The only fee payable is the
reservation fee for the new fixed rate product (if applicable).
Latest House Price News. 17-10-2009
House prices now at the same level as September 2008
Trevor
Branton 
