Lenders group has revealed that though there has been a marginal increase in the number of mortgages given out by lenders in February, yet the market remains weak on the whole. The Council of Mortgage Lenders (CML) said that loans for house purchases rose in the UK in the month pf February to 24,300 up by almost 48% in January. However, first time buyers had to make a deposit of 25% which is very high. Though the shift has not been very drastic but positive signs can still be expected in the later months, commented CML director general Michael Coogan. (more…)

John Charcol, one of the country’s finest brokers advises homeowners to change mortgage deals to the competitive fixed rate deal while it can still be done. According to John Charcol, the competitive deals on the  Fixed Rate Mortgage would not be available for long in the market. Some of the best deals which can be grabbed by the homeowners at present are four-year fixed deals from Woolwich and Britannia at 3.99 per cent for 60 per cent loan-to-value. (more…)

For the first time in seven months the Bank of England will probably make no announcement of changes in the Mortgage Interest Rates after their monthly meeting on Wednesday and Thursday. The Monetary Policy Committee (MPC) comprising of nine policy makers had a busy time since October when it began lowering its interest rates to cope with the worldwide financial crisis. (more…)

Latest figures reveal that the number of Mortgage Loans permitted for house purchases rose for a third month consecutively in February. The British Bankers’ Association (BBA) said that the number of approved loans in February were 28,179 while in January they were 24,278. It reached a record low in November with only 17,878 loans being approved. However, the figure was still at 31% lower than what it was last February and the rise should not be mistaken as rise in demand from consumers but it revealed the greater market share of the high street banks. (more…)

HSBC has decided to give a boost to first time buyers by launching a fresh mortgage deal that requires only 10 per cent deposit. HSBC is providing a two-year fixed rate home loan up to 90 per cent of a property’s value at 4.99 per cent, with a fee of £1499. (more…)