Archive | April, 2008
7% fall in mortgage lending for February
According to industry officials the level of mortgage lending in February dropped by 7%, with a total sum of around £24 billion being borrowed for the months compared to £25.9 billion in January. This reflected a 6% fall compared to mortgage lending levels in February according to officials from the Council of Mortgage Lenders. The [...]
Continue reading...FSA states 1.4 million could face rising mortgage costs
18. April 2008
Over recent months there has been much concern about homeowners that are currently on cheap fixed rate mortgages that are due to come to an end over the coming year. Many homeowners took out fixed rate loans when interest rates were much lower a couple of years ago, but since then interest rates have rocketed [...]
Continue reading...Nationwide closes doors on new borrowers by raising rates
16. April 2008
The Nationwide Building Society, which has recently topped consumer polls for everything from its credit cards to its customers service levels, has announced that it is looking to close the doors on new mortgage applicants by raising its mortgage interest rates, despite the fact that there have been two recent base rate cuts in the [...]
Continue reading...Mortgage lender to reveal costs following near collapse
14. April 2008
Northern Rock, once the fifth largest mortgage lender in the nation and now the bank known as the victim of the first run on a British bank in nearly 150 years, is to reveal costs and figures relating to its rescue over the coming week. The bank is to reveal its results since its collapse [...]
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21. April 2008
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