Lenders push borrowers into costly fixed rate deals

It has been claimed that some lenders have been trying to push their borrowers into costly fixed rate deals at a time when the base rate has been at an all time low of just 0.5 percent for the last eight months. Read more

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Watch for Rising Fixed Rates on Mortgages

Leading mortgage brokers are warning that as the recession comes to a close, fixed rates for mortgages are going to rise. With the current low rates, there has never been a better time to lock in for a fixed term and save money in the coming years with low monthly payments. Ray Boulger, the senior technical manager at broker John Charcol, says borrowers should act now because rate hikes are imminent. Read more

Tags: better time, fixed rate mortgages, Mortgages, senior technical manager, Ray Boulger

One year high for fixed rate mortgage lending

According to recently released figures fixed rate mortgage lending levels have recently hit their highest level in the space of around one year, as first time buyers and existing homeowners that are ready to refinance try and secure low rates clamour to take advantage of the all time low base rate, which still stands at 0.5 percent, which is the lowest level in the three hundred and fifteen year history of the Bank of England. Read more

Tags: first time buyers, Mortgages, lending, mortgage, council of mortgage lendres

Fixed rate mortgage holders may be losing out, state officials

Some industry officials have said that some people that have a fixed rate mortgage loan may be losing out financially because of the way that the base interest rate has been slashed over the past five months by the Bank of England. Read more

Tags: standard variable rate, fixed rate mortgages, base interest rate, radical rate cuts, rate mortgage deals, Fixed interest, fixed rate deals, rate loan

Increased popularity for cheaper fixed rate mortgages

Recently released figures have suggested that new lower fixed rate mortgages may be gaining popularity again, with borrowers keen to take up lower rate deals yet enjoy stable repayments for a fixed period of time to help them to budget more easily in the current difficult financial climate. Read more

Tags: bank, fixed rate mortgages, council of mortgage lenders, Mortgages, rate deals

Fixed-rates “still” popular

New research has revealed that fixed-rate mortgages continue to be popular among homebuyers even though they have become more expensive in recent months. Read more

Tags: purchase, Homebuyers, fixed rate mortgages, personal finance, series, Stephen Smith, future, Fixed-rates

First Direct offers mortgages to new customers

First Direct has restored its mortgage services to new customers with a number of two-year, five-year and ten-year fixed-rate deals. Read more

Tags: guardian, Everyone, fixed rate mortgages, time, cent, first direct mortgages, mortgage products, first direct

Demand for five-year fixed-rates ‘rises’

Demand has increased for fixed-rate mortgages lasting five years for the third month in a row, according to figures newly released by Abbey. Read more

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HSBC: Rate matcher offer extended

HSBC has announced that all UK homeowners who are due to come off their fixed-rate mortgage deals before August 31st will now be able to apply for the bank’s rate matcher mortgage offer. Read more

Tags: hsbc ratematcher, mortgage repayments, head, finance, fixed rate mortgages, lending, Financial services

Nationwide cuts fixed-rate mortgages

Nationwide, the UK’s third largest mortgage lender, has announced it is cutting interest rates on some of its fixed-rate mortgages by 0.3 per cent. Read more

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Fixed-rate mortgages proving popular

Despite predictions that interest rates will likely fall again in 2008, fixed-rate mortgages are continuing to grow more popular, new research suggests.

Data from Abbey reveals that 35 per cent of homeowners would choose a fixed-rate loan if they were re-mortgaging tomorrow, which is an increase from February’s figure of 31 per cent.

Nici Audhlam-Gardiner, director of Abbey Mortgages, said that the findings suggest that “the appetite for fixed-rate mortgages remains high”.

“We expect that economic uncertainty is contributing to this trend, as people try to take control over their outgoings,” she commented.

The survey also found that five-year fixed-rate deals were the most attractive to homeowners looking for a new mortgage, follwed by two and three-year deals.

Meanwhile, the Charcol Mortgage Monitor also recently revealed an increase in the uptake of fixed-rate mortgages, with 52 per cent of all borrowers choosing this option in February.

Tags: survey, fixed rate mortgages, February, fixed rate mortgage, Charcol, increase

Brits want fixed-rate mortgages according to research

Over half of British consumers would choose a fixed-rate mortgage if given the choice, reveals new research.

Findings from the Fairinvestment.co.uk shows that 30 per cent of these respondents said they would favour a short-term mortgage while the remainder would prefer a long-term fixed interest rate.

James Caldwell, director at Fairinvestment.co.uk, said that fixed-rate deals allow homeowners the security of knowing what their monthly repayments will be.

“The public are obviously wary of exposing themselves to the economy at large and are acting accordingly,” he stated.

Mr Caldwell indicated that consumer confidence has been affected by the uncertain economic outlook when the Council of Mortgage Lenders has announced recently that in 2007 there were 27,000 homes repossessed.

The survey also found that 23 per cent of homeowners would favour a tracker mortgage, nine per cent would opt for a discounted mortgage, eight per cent would chose a variable rate mortgage and three per cent would go for a stepped deal.

Meanwhile, according to research from the BBC, more than half of the repossession orders in the UK are brought by subprime lenders.

Tags: survey, new research, research, repossession, Fairinvestment.co.uk, fixed rate mortgages, fixed rate mortgage