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 [...]

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Egg Faces Possible Enquiry Into Credit Card Cuts

A survey has revealed that many of the Egg customers who have had the credit on their credit cards cancelled were not the risky customers Egg claimed them to be. A survey for This is Money asked: “Have you had your Egg card cancelled? If so, have you ever missed any payments?” Fifty-seven percent of [...]

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125% Mortgage Deals Are Being Scrapped

Major lenders are beginning to scrap 100% plus mortgage deals. The controversial mortgages that allow borrowers to borrow more than the value of a house are being pulled. Abbey and Alliance & Leicester have both ended their 125% deals, and this has followed some lenders scrapping 100% deals before Christmas. From about in one in [...]

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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 [...]

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