As the door finally closes on interest-only mortgages, it is worth recalling how they can feed soaring property pricesBack in 1989 I foolishly bought my first property, a one-bed flat in a miserable part of south London. I borrowed as much as I co…
Posts Categorized: Banks and building societies
Mortgage lending up 20% in February
Rise in first-time buyer numbers behind overall increase in lending for house purchases, CML figures suggestMortgage lending for house purchases was up by 20% year-on-year in February, but lenders said the increase may have been fuelled by changes to s…
‘Nation of renters’ warning from estate agency chief
Generation aged 18-34 risks being priced out of market unless government helps housebuyers, says head of CountrywideThe chief executive of the UK’s largest estate agent has renewed calls on the government to intervene in the housing market to prevent f…
Mortgage rates edge upwards
Fixed and variable rates have been increased by several lenders, so mortgage-hunters should look to grab a dealMortgage rates are creeping up, and whether you are sitting on your lender’s standard variable rate (SVR) or a homebuyer looking for a deal, …
Co-operative raises mortgage costs for 54,000 borrowers
Bank joins Halifax, Bank of Ireland and Clydesdale and Yorkshire banks in raising its standard variable rate, which will rise to 4.74% in MayThe Co-operative Bank has become the latest lender to increase the standard variable rate (SVR) it charges mort…
Mortgage borrowers face triple whammy, warns Bank of England
Lenders expect to reduce the amount of credit given to households, tighten lending criteria – and charge more for the loans, says Bank reportLenders expect to reduce the amount of credit they give to households in the second quarter of the year in a …
Nationwide tightens up on interest-only mortgages
Nationwide slashes LTV on its interest-only deals, raising fears it will leave thousands of borrowers as ‘mortgage prisoners’Nationwide building society has slashed the maximum loan-to-value (LTV) ratio on its interest-only mortgages from 75% to 50%, l…
Clydesdale and Yorkshire banks follow Halifax with mortgage rate rise
Around 30,000 customers will see mortgage payments rise by up to £30 a month from MayFears of a widespread rise in mortgage interest rates are growing after a decision by Clydesdale and Yorkshire banks to follow Halifax and raise their basic lending r…