After years of decline, mortgage rates are rising again, figures show, which is worrying news for young homeowners who may struggle, after recent speculation the Bank of England may raise interest rates. Some deals have been completely withdrawn, whilst many Read more…
Virgin Money, the Edinburgh-based bank, has announced its profits experienced a boost after its mortgage lending grew significantly. There was considerable growth in mortgage lending for the company, of 44 per cent, up to £23.6bn. Its first half figures showed Read more…
The demand for mortgages rose from April to June this year, according to figures from the Bank of England. It is the strongest demand for mortgages since the end of 2013, and is expected by experts to hold strong over Read more…
According to the Bank of England, households in the UK are paying their mortgages off at a record pace, leading to a £13bn debt reduction for the first quarter of the year. This is surprising to economists who did not Read more…
There is a growing pressure on mortgage lenders to offer loans to older borrowers, who struggle to find products suiting their requirements when they purchase a house, or extend a mortgage. Usually, lenders will require borrowers to repay their loan Read more…
The number of buyers who had a new mortgage approved in May reached its highest level for 14 months, the British Bankers’ Association (BBA) has announced. With almost 73,000 approved, mortgage approvals have not been this high since March 2014. Read more…
Thousands of homeowners may face financial hardship, after it was announced that the government will cut the interest rate which is used to calculate how much financial help they receive. There are 167,000 homeowners who receive financial assistance from the Read more…
Official figures from the Bank of England have revealed that homeowners and buyers are currently receiving their best ever deals on mortgages, after rates fell during the first quarter of this year, compared to the rates at the end of Read more…
According to statistics from Nationwide, the second largest mortgage lender in the UK, almost four out of every ten homes sold did not require a mortgage in the first quarter of 2015. Nationwide said that 38 per cent of properties Read more…
Thanks to a surge before the general election, the number of mortgages approved reached its highest figure in ten months. This year, from March to April, the number of mortgages approved increased by 7 per cent to 42,116, according to Read more…