Despite calls from Gordon Brown to lenders to follow the Bank of England’s rate cut, HBOS has increased mortgage interest rates on a range of its two year fixed rate deals. The move by the country’s biggest mortgage lender came only hours after a meeting between UK’s top bankers and the Government. Industry experts said …
Monthly Archives: April 2008
Fixed Rate Mortgages Decline
Tracker rate mortgages have been extremely popular in February, according to the Council of Mortgage Lenders borrowers selecting fixed rate mortgage deals decreased to 52 per cent, in fact the lowest since March 2005. In the other hand tracker rate mortgage acquisitions increased to 35 per cent, from 33 per cent in January. The CML …
Overseas Property: Cyprus
Travel experts say that attracts a considerable number of British holidaymakers every year. According to the travel agent Thomas Cook Cyprus is proving to be as popular as ever. Cyprus is continuing to attract a considerable number of people from the UK each year, Thomas Cook revealed. The average property prices in Europe have risen …
CML Says Mortgage Lending Will Half in 2008
The Council of Mortgage Lenders (CML) reported that mortgage lending could fall by half this year unless the Bank of England releases more money to the mortgage lenders. Steven Crawshaw, the chairman of the CML, said the demand for property has decreased considerably nonetheless, “potential borrowing still significantly exceeds the industry’s collective capacity to supply …
More Lenders Dropping Out Buy to Let Mortgages
The Bank of Scotland has drop five of its buy to let mortgages and ten of its self-certifying mortgages, this decision was due to the pressure created from other mortgage lenders who have completely dropped out the buy to let mortgages market. The HBOS and the Mortgage Business have also pulled out some of their …