New research from Yorkshire Building Society shows that the number of mortgage borrowers now on their lenders’ standard variable rates (SVRs) is over 2.3 million, representing 28% of the total mortgage market.
Typically these households have come off fixed-term deals and for one reason or another have chosen to revert to their lenders’ SVRs, rather [...]
The number of loans advanced for house purchases increased by 12% in February, showing a modest recovery on January when the figures were weak due to the end of the stamp-duty holiday and the severe winter weather.
According to the Council of Mortgage Lenders (CML) 35,000 house purchase loans were advanced worth £5 billion, up 49% [...]
The Court of Appeal has ruled in favour of a mother under threat of repossession.
Jayne Hewett was party to a remortgage of the family home to pay off her husband’s credit card debts.
However, unbeknown to her, Mr Hewett was having an affair at the time the loan was arranged.
He subsequently moved out, leaving his wife [...]
Nationwide has lowered the deposit required for some of its most competitive remortaging deals, from 40% to 30%.
From today, all the lender’s existing 60% loan-to-value (LTV) fixed and tracker remortgage loans are available at up to 70%.
Since the onset of the credit crisis, remortgaging activity has been in a steady decline as lower interest rates [...]
The collapse of the remortage market as borrowers coming to the end of fixed-rate deals opt to remain on reversion rates, is prompting lenders to raise their standard variable rates (SRVs).
According to Moneyfacts.co.uk some borrowers on SVRs have benefited from the record low 0.5% base rate but others have not been so lucky.
The financial [...]
The cost of putting their children through university is forcing some parents to remortgage their home, The Children’s Mutual revealed this week.
Students starting university this year will spend an average of £42,000 during their three-year course, and many parents will be expected to fund the majority of this bill.
“University can be as much of a [...]