Thrifty Loans

Mortgage lender to reveal costs following near collapse

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 last [...]

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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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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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Northern Rock Shrinks Its Mortgage Book

The mortgage book of Northern Rock is already being reduced ahead of its forthcoming nationalisation. It was predicted by Ray Boulger, of mortgage brokers John Charcol, that Rock’s mortgage book would be slashed by 50% in the next couple of years, and he said that rates have been put up already to discourage people taking out [...]

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