Gross mortgage lending fell to an estimated £10.2 billion in April, down 12% from £11.6 billion in March and 1% from £10.3 billion in April 2009.
According to the Council of Mortgage Lenders (CML), a slight seasonal decline had been expected as Easter fell in April this year and gross lending remains broadly in line with [...]
Lloyds Banking Group has reviewed its interest-only mortgage offering and withdrawn the non-repayment option on loans of over £500,000.
The lender, which operates the Halifax and Cheltenham & Gloucester brands, has also upped rates on interest-only loans, which are now loaded with a 0.2% premium.
The end of the house price boom has left banks and building [...]
Consumer Focus has warned that cash ISAs are depriving savers of £3 billion in interest each year.
The consumer group has made a complaint to the Office of Fair Trading (OFT) and is calling for an investigation into Individual Savings Accounts (ISAs).
ISAs, which were launched a decade ago by then Chancellor, Gordon Brown, and were [...]
Dr Ros Altmann, a former Downing Street pensions adviser, believes there should be an inquiry into the profit margins of credit card companies.
Dr Altmann, who is a former academic and independent expert on pensions policy and retirement, believes there might be a case for a regulator to oversee the rates they charge.
Last week, [...]
Both Northern Rock and the Post Office have launched new mortgage deals with lower rates.
The Post Office has cut the cost of its Bank of Ireland lifetime tracker loans from 3.29% to 2.99%, or from 3.59% to 3.49%, dependent upon the loan-to-value ratio.
Bank of Ireland has also reduced the price of its five-year fixed-rate [...]
Nationwide Building Society has increased the rates on a number of its Fixed Rate Bonds and e-Bonds.
These include: Three year Fixed Rate Bond and e-Bond paying up to 4.70% gross p.a./AER for balances over £25,000.
Two year Fixed Rate Bond and e-Bond paying up to 4.10% gross p.a./AER for balances over £25,000.
18 month Fixed Rate Bond [...]