Thrifty Loans

Rock Axes 125% Mortgage

Finally Northern Rock has axed its 125% mortgage following a raft of criticism in the last week. The bank, which is in the process of being nationalised, will no longer offer its Together mortgage as it tried to put itself back on a firmer footing by reducing its mortgage book and its risk exposure. Northern Rock has [...]

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Northern Rock Still Offering 125% Mortgages

After all that’s happened it is rather surprising that Northern Rock are still offering mortgages for more than the value of the borrower’s home. Despite its being underwritten by the UK taxpayer, the ailing bank is still marketing its Together mortgage deal in which homebuyers can borrow up to 125% of a property’s value. Such a [...]

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Banks raise interest rates on current accounts

Whilst the banking industry and consumers await the ruling of the judge in the High Court case over bank charges, banks are busy trying to attract new customers by raising the interest rates that are offered on current accounts, starting a current account war within the industry. A number of banks have increased their current account [...]

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Lenders Accused Of Profiteering

More accusations of profiteering have been levelled against Britain’s mortgage lenders as they have put up the rates on tracker mortgages since the base rate was reduced in early February. Cheltenham & Gloucester has announced that it has raised its rates on new two-year trackers by 0.2%. Comparable products at Lloyds TSB (part of the same [...]

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