Archive for January, 2009

Brown ‘wanted financial early warning system 10 years ago’

Tuesday, January 27th, 2009

The Prime Minister said today that he called for better financial regulation ten years ago. Due to the reluctance of banks to lend to each other, mortgage and remortgage deals are now too expensive for many borrowers. Mr Brown today claimed that he said in Harvard a decade ago that an early warning system and […]

Northern Rock could receive second government loan

Tuesday, January 27th, 2009

Nationalised bank Northern Rock could receive another loan from the government in order to boost lending. Some newspapers are reporting that the loan could be worth as much as 10 billion GBP, although a Treasury spokesperson described this as “utterly speculative”. The loan would be another attempt to stimulate the bank into lending again. Last […]

The Mortgage Alliance and Goldsmith Williams team up

Tuesday, January 27th, 2009

The Mortgage Alliance (TMA) and Goldsmith Williams have joined forces, it was announced today. Due to the partnership, TMA members are now guaranteed remortgage deal completion within one week through Goldsmith William’s conveyancing services. TMA has already brought Easier2Move and Conveyancing Alliance Ltd into its team.

Mortgage lending rose in December

Tuesday, January 27th, 2009

New statistics from the British Bankers’ Association (BBA) show that net mortgage lending rose in December. The figures may be an indication that the market is gaining some stability. The rise in mortgage and remortgage lending stands at 2.9 billion GBP, although this is lower than November’s 3.2 billion GBP. THe BBA said that due […]

Fixed rate remortgages cut by high street lenders

Tuesday, January 27th, 2009

Last week saw many major lenders cut the prices of their fixed rate remortgage deals. In a move that may come as a relief to many homeowners, NatWest and RBS launched a 3.79% two-year remortgage deal. Alliance & Leicester and Abbey made similar cuts, as did small building society Hinckley & Rugby. Many deals, however, […]

Fox Hayes shuts down remortgage unit

Tuesday, January 27th, 2009

Leeds property transfer and conveyancing firm Fox Hayes has announced the closure of its remortgage department. Chief executive Stephen Coupland told the Financial Times that due to a lack of work from lenders, demand for remortgages had decreased to such a level that the remortgage unit was no longer financially viable. Many jobs could be […]

HSBC encourages tracker mortgage holders to overpay

Tuesday, January 27th, 2009

HSBC has written to 30,000 of its customers who have tracker or variable rate mortgages advising them to overpay their loans. By taking advantage of the historically low rates, the bank said, customers will benefit extensively. If they overpay their loans, tracker or variable rate customers can gain back some of the equity lost in […]

RBSIP lowers rates on remortgage deals

Tuesday, January 27th, 2009

RBS Intermediary Partners will reduce rates on some of its fixed rate deals tomorrow. This means that the lender will be offering remortgage customers a two-year fixed rate of 4.19% with a 75% LTV, charging 999GBP. A five-year fixed rate remortgage deal is also on offer, with up to an 85% LTV at a rate […]

NatWest and RBS launch new remortgage deals

Tuesday, January 20th, 2009

High street lenders NatWest and RBS have unveiled new mortgage deals available to both new customers and those looking to remortgage. The fixed-rate deal has an interest rate of 3.99%, a fee of £799, and a loan-to-value of 60%. Andy Fell, director of branch mortgages at The Royal Bank of Scotland (RBS), said: “We believe […]

Northern Rock loan extension could relieve remortgage customers

Monday, January 19th, 2009

Nationalised bank Northern Rock has been given longer to pay back its £26 billion government loan. Until now, customers have been encouraged to remortgage with other banks if possibly, which has been difficult during the economic crisis. Now, however, the bank has been given longer to pay back the remainder of its loan, meaning that […]

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