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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Stamp Duty Cost £6.5bn In 2007

In the last ten years homebuyers have had to pay £31.5bn in stamp duty, new figures have revealed. In 2007 alone, the stamp duty figure was £6.5bn. It equates to a 675% increase since Labour came to power, as in 1997-8 a mere £830m was paid in stamp duty. Part of the increase is down to changes [...]

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Rate cut could benefit many homeowners

A recent report has indicated that many borrowers and homeowners could benefit from the 0.25% interest rate cut announced by the Bank of England earlier this month, as nine out of the ten top lenders quickly announced that they would be passing on the full 0.25% cut to borrowers – some announcing this within hours [...]

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Rock Decision Could Be Announced Soon

The Northern Rock crisis rumbles on, but it is thought that a decision might be made about its future as early as this weekend (16 February). There is growing pressure from the European Commission, and a desire to appease MPs as they return to Parliament next week, and these could lead to a decision being made [...]

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