The Nationwide building society launched a new two-year fixed rate mortgage deal this week, aimed at existing customers, people seeking to move home and first-time buyers alike. The 90 per cent loan-to-value (LTV) mortgage comes with an interest rate of 5.29 per cent with a £900 arrangement fee, or a rate of 5.69 with no … Continue reading “Nationwide Launches Cheap Mortgages for 2012”

Just as the number of mortgages applied for and agreed in the UK started to show overall and significant signs of improvement, air once again seems to have started to escape from the bubble. With many consumers and industry experts pointing a finger squarely at 11 Downing Street. Chancellor of the Exchequer, George Osbourne received … Continue reading “New Buy Scheme, Same Old Story?”

The Mortgage Broker now has access to a wide range of niche buy to let mortgage products to complement its existing comprehensive range of standard buy to let products. The new Niche products now include: HMO’s Multi Let Properties Ltd company lending Where the Ltd company is a standard trading company 100% exposure lending E.g. … Continue reading “New Buy To Let Products Launched!”

In the past, many homeowners have found mortgage charges and tariffs difficult to understand. That looks set to change though, as the Council of Mortgage Lenders (CML) and Which? have just released a new standardised format for mortgage charges. The new tariff has already been tested on current Which? customers. This has allowed the tariff … Continue reading “New Mortgage Tariff Launched by Council of Mortgage Lenders and Which?”

Most people recognise a property is the largest and most expensive thing they will buy in a lifetime. It makes sense then that a mortgage contract should be the most important document anyone will ever read and sign. All of which makes new research from Habito that bit more worrying. The research looked at people’s … Continue reading “New Research Indicates 75% of Homeowners Signed Mortgage Contract Without Reading it in Full”

It will hardly come as a surprise but the introduction of the Mortgage Market Review now in force across the UK has led to dozens of news sites and magazine style websites commenting on the new situation. Some have reported on the straight facts as we currently know them, while others have looked into specific … Continue reading “News Outlets Seize on New Mortgage Rules Introduction”

A mortgage broker in Northern Ireland was fined and banned from operating this week by the watchdog Financial Services Authority (FSA). Gareth Flanagan, of Londonderry’s GMF Marketing Services was fined £95,200, although this was reduced by 30 per cent from £136,000 due to an early settlement. Flanagan was found to have failed to act with … Continue reading “NI Mortgage Broker Fined and Banned”

A study by Moneyfacts showed that there are 3,054 residential mortgage deals available on the market, although average rates are down the standard rate for a two-year fixed rate mortgage has dropped from 4.48 per cent to 4.22 per cent in the last year. Nevertheless there has been a significant expansion of the mortgage sector … Continue reading “Number of Mortgage Products at Highest Level Since April 2009”

The White House revealed yesterday that US President Barack Obama is to launch a new task force with the job of investigating alleged mortgage fraud. The new initiative will be jointly operated with New York attorney-general Eric Schneiderman, who has long been interested in untangling alleged fraud cases involving mortgage-backed securities and general household mortgages. … Continue reading “Obama Heralds New Mortgage Task Force”

Most people looking to buy a property will need to save a four-figure sum to put down as a deposit. Now, a recent survey has discovered almost one in four people (23%) looking to buy a property for the first time take between five and 10 years to save the required amount of money. The … Continue reading “One in Four First Time Buyers Take Over Five Years to Save a Deposit”