The average cost of a two-year fixed-rate mortgage fell to a six-and-a-half-year low during February, according to new figures from the Bank of England.
The average rate stood to 3.88%, down from 3.97% a month earlier to a level last seen in July 2003.
Five-year fixed-rates also eased last month, declining to an average 5.49%, down from [...]
Home buyers with a zero to 40% deposit currently have 1,798 mortgage deals to choose from, according to Moneyfacts.co.uk.
Researchers at the financial website have registered a 6% rise in the number of home loans on offer in the past month, taking the total up 68% year-on-year.
While those with 5% or less to put down continue [...]
Coventry Building Society has announced plans to reduce the rates on its residential re-mortgage products.
The new lower rates include a 2-year fixed-rate deal at 3.5% with £999 fees at 65% loan to value.
The lender also revealed a new fixed-rate mortgage offering borrowers the opportunity to make unlimited overpayments without penalty.
The new range of unlimited repayment [...]
Banks would be encouraged to lend more easily to home buyers if stamp duty was changed to work like income tax, a mortgage expert has claimed.
Catherine Hearnden, director of MyMortgageDirect, said stamp duty should be calculated relative to the house being purchased.
“I think it should work like income tax, where it is staggered and increases [...]
Millions of homeowners across the UK have no idea what interest rate they’re paying on their mortgage, according to research by Post Office Mortgages,
A poll by the lender found that while 35% of borrowers are currently on a standard variable rate (SVR) mortgage, 28% – around 3 million homeowners – don’t know what rate they’re [...]
Government plans to improve the energy efficiency of the UK’s homes involve as “Pay as You Save” scheme that will provide long-term loans to householders keen to install additional insulation, solar panels, wind turbines and the like.
The eco-loan will be repaid in instalments that should amount to less than the savings made on energy bills.
However, [...]