Tag: mortgage
O2 debt wrecks mortgage plan
O2 puts a blight on mortgage prospects because of a missed payment on a phone bill In February last year, Guardian Money reported how a missed mobile phone payment of just £7.91 jeopardised homebuyer Adam Vaughan’s chances of getting a £220,000 mortgage. Twelve months on, it’s a £57 missed mobile phone payment that has left [...]
The 95% mortgage is back
After years struggling to save big deposits, first-time buyers are hopeful of getting on to the property ladder as lenders line up to offer 95% mortgages Five years ago there were more than 800 different 95% mortgages available to first-time buyers. When the financial crisis struck, they disappeared from lenders’ shelves almost overnight. But the [...]
Negative equity mortgage deal unveiled by Lloyds
The Equity Support Scheme lets customers use their savings as a deposit instead of them being swallowed by negative equity A mortgage deal aimed at homeowners who are trapped in negative equity but keen to move was launched today by the Lloyds banking group. The Equity Support Scheme will go live next month and is [...]
2 million people use credit cards to pay mortgage or rent
Research by Shelter shows millions using credit cards in last-ditch attempt to keep roof over their heads More than 2 million people have used credit cards to pay their mortgage or rent, an increase of almost 50% in a year, according to the housing and homelessness charity Shelter. Research for Shelter conducted in August found [...]
Variable mortgage customers exposed to interest rate rises
With two-thirds of homeowners now on an SVR, and interest rate rises expected, borrowers must decide when to fix The number of borrowers on standard variable rate (SVR) mortgages has risen to two-thirds, according to a recent Bank of England report – a huge rise on the more recent five-year average of about a half. [...]
Mortgage lending down by 9%
The Council of Mortgage Lenders says £12.4bn was lent in October – the lowest figure for that month since 2000 – as the traditional seasonal uplift failed to materialise Mortgage lending slumped to its lowest October level for a decade as activity in the housing market remained subdued, figures showed today. A total of £12.4bn [...]
Mortgage lending on the rise
Mortgage lending rose by 5% in July, compared to June, but remains down 3% year on year Mortgage lending rose by 5% in July compared to the previous month, to £13.6bn, but was down 3% from £14bn in July 2009, supporting claims that the housing market is slowing down. The gross lending figures, published by [...]
Yorkshire and Clydesdale customers face mortgage rise
A miscaculation by the Yorkshire and Clydesdale banks means some mortgage holders could be asked to repay up to £300 more each month Thousands of Clydesdale and Yorkshire Bank mortgage customers are facing higher monthly payments after the providers, owned by National Australia Bank, said they had miscalculated repayments on some of their variable and [...]
