Big and popular lenders have hiked their Fixed Rate Mortgages for new borrowers. The UK’s second biggest lender, Abbey has put the cost of fixed-rate deals between 0.25% and 0.5 %. The trend which was started by Nationwide is now being followed by most mortgage lenders. Lloyds banking group is not far behind and has greatly increased its fixed rate deals. Read the rest of this entry »

Latest statistics from Paaleads reveal that the number of buyers opting for new mortgage are more than those looking to Remortgage which could give a lifeline to intermediaries in the current economic downturn. Read the rest of this entry »

If lenders regulate borrowing rates, landlords may be compelled to Remortgage their properties. Unless better mortgages are found, both landlords and tenants are at risk claims Residential Landlords Association. Alan Ward, chairman of Residential Landlords Association expresses concern that if the lender threatens the landlord and the landlord has no option but to sell the property where does the tenant go? Lenders are evaluating property on the loan-to-value ratio says Mr. Ward. Read the rest of this entry »

Britain’s third biggest lender, Nationwide Building Society, has expressed its intention to increase interest rates on its popular mortgage deals of five-year fixes by to 0.86 percentage points and an increase of 0.61 per cent in its two year deals. This move by Nationwide would force others to do the same. Read the rest of this entry »

With the recovery of the economy, there would be a great increase in the number of people who wish to Remortgage home loans. According to British Bankers’Association compared to April, the previous year, there were 63 per cent lesser remortgage loans approved by the banks. Read the rest of this entry »