http://www.independent-mortgage-store.co.uk en-gb independent-mortgage-store.co.uk 2012-5-10T00:00:00Z independent-mortgage-store.co.uk http://www.independent-mortgage-store.co.uk/page6.htm#118038 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163325 billion financed by the issuance of central bank reserves 2012-5-10 13:03:34 http://www.independent-mortgage-store.co.uk/page6.htm#117800 MORTGAGE LENDERS SET NEW HURDLES Sunday Times Artice by Alexandra Goss Borrowers already faced with rising mortgage rates and stricter lending criteria are suffering further headaches thanks to lenders delays and onerous conditions. There were 49860 mortgages approved for house purchases in March down sharply on Januarys 57954 approval accoring to figures from the Bank of England last week. Lending is predicted to contract further this year with Lloyds banking Group and Santander warning that they will be more cautious in advancing loans. The lack of lending means that those providers willing to extend new mortgages are being swamped with business resulting in consumers sometimes suffering long delays as a result. For instance brokers report that application approvals at Northern Rock are being significantly held up in some cases by as much as 10 weeks with the cull of 680 staff being partly to blame. HSBC caused uproar earlier this year when it cut the number of solicitors and c... 2012-5-6 20:30:26 http://www.independent-mortgage-store.co.uk/page6.htm#115931 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163325 billion financed by the issuance of central bank reserves 2012-4-5 14:39:55 http://www.independent-mortgage-store.co.uk/page6.htm#114396 RATE HIKE SPARKS A RUSH TO REMORTGAGE Sunday Times Millions of borrowers are urgently reviewing their mortgages after several lenders followed Halifax in raising their variable rates for existing borrowers last week. On Friday Clydesdale and Yorkshire Banks became the latest lenders to raise standard variable rates with about 30000 facing a jump in rates from 4.59 to 4.95. In addition Bank of Ireland will be raising its variable rate from 2.99 to 4.49 effecting a further 100000 borrowers. Someone with a 163200000 interest only mortgage will see their loan repayments go up by 1633000 a year 2012-3-12 08:51:45 http://www.independent-mortgage-store.co.uk/page6.htm#114158 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163325 billion financed by the issuance of central bank reserves 2012-3-8 13:27:34 http://www.independent-mortgage-store.co.uk/page6.htm#114052 Despite the base rate still being at a record low for three years two of Britains biggest banks have raised mortgage rates for a million homeowners. Now more may follow suit. Whats happening On Saturday the Mail revealed how Halifax part of statebacked Lloyds Banking Group is increasing its standard variable rate SVR from 3.58201per cent to 3.998201per cent from May 1. This affects 850000 customers. Someone with a 163150000 mortgage will see monthly payments jump from 163751 to 163791 a 16340 increase. Earlier in the week Royal Bank of Scotland hiked rates for its offset and One Account customers from 3.758201per cent to 48201per cent affecting about 200000 households. This will see monthly mortgage payments increase from 163771 to 163792 a 16321 increase. Now mortgage experts believe other banks may follow suit. Why is this important SVRs are the standard rates banks. Building societies put customers on to their SVRs when their fixed or tracker deal comes to an end. ... 2012-3-7 11:43:55 http://www.independent-mortgage-store.co.uk/page6.htm#112130 Bank of England maintains Bank Rate at 0.5 and increases size of Asset Purchase Programme by 16350 billion to 163325 billion The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to increase the size of its asset purchase programme financed by the issuance of central bank reserves by 16350 billion to a total of 163325 billion. 2012-2-9 13:21:48 http://www.independent-mortgage-store.co.uk/page6.htm#106565 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163275 billion financed by the issuance of central bank reserves. 2011-11-10 13:50:35 http://www.independent-mortgage-store.co.uk/page6.htm#102134 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion 2011-9-8 13:05:02 http://www.independent-mortgage-store.co.uk/page6.htm#99806 Bank of England maintains Bank Rate at 0.5 and the size of the Asset Purchase Programme at 163200 billion 2011-8-4 13:47:48 http://www.independent-mortgage-store.co.uk/page6.htm#98292 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion. 2011-7-7 16:36:53 http://www.independent-mortgage-store.co.uk/page6.htm#92517 Bank of England maintains rate at 0.5. The rate has now been frozen for exactly 2 years. 2011-3-10 13:33:13 http://www.independent-mortgage-store.co.uk/page6.htm#87446 The Sunday papers were awash this weekend with articles about inflation finally forcing the Bank of England to start increasing the bank rate within the next few months and what to do with your mortgage. Everyone has a different opinion on what is the best thing to do. However the one sure thing is that if you are on a variable rate mortgage your costs are going to start to increase in 2011 when rates rise. Some papers are warning that you should calculate your costs over the next 3 years with a 6 rise in your variable rate If your a worryer then you should certainly be thinking of reviewing your mortgage and ensuring that you get onto the best fixed rate to secure your costs over the coming years. Remember that as soon as the Bank of England increases rate lenders will imminently pull their existing rates and introduce higher more expensive fixed rates to the market. Last week saw Woolwich Skipton and Coventry building societies pull their 5 year fixed deals while other lenders hav... 2011-2-21 10:42:42 http://www.independent-mortgage-store.co.uk/page6.htm#87444 Article in Sunday Times by James Charles Lenders raced to start withdrawing competitive fixed rate mortgages last week just as householders were urged to prepare for a rise in borrowing costs in the coming months. The Bank of England has now signaled that interest rates could rise as early as May to tackle soaring inflation which hit 4 in January 2011. Mervyn King governor of the Bank of England appears to back market expectations that this first rate rise could be followed by a second in November and possibly even a third by the end of the yeer. King has also said that anyone making long term financial decisions should not expect Bank rates to be at these low levels indefinitely. 2011-2-20 10:24:43 http://www.independent-mortgage-store.co.uk/page6.htm#86917 Dail Mail Friday 11th Feb 2011 The UKs housing market has ground to a halt with the number of those moving home collapsing to the lowest level in history. Data due to be published is expected to show the number of first time buyers managing to get on the property ladder is close to record lows. Matt Griffith from the first time buyers campaign group Priced Out said We now have the least accessible housing market in a generation and it is the younger generation who are losing out. All but the wealthiest first time buyers are now effectively frozen out of the housing market which is very worrying 2011-2-11 15:18:48 http://www.independent-mortgage-store.co.uk/page6.htm#76163 FALLING HOUSE PRICES AND TOUGHER BANK REGULATION ARE LOOMING reoprts Richard Evans of the Telegraph. Home owners have been given a stark reminder of the precariousness of the housing market with a double warning. Firts a leading economist said that house prices could fall 10 within the next year or so and second the head of the British Bankers Association warned that the new banking rules could trigger a second credit crunch making mortgages harder to come by. This potential fall in house prices hamper your chance of getting a decent rate. If for example you have 25 equity in your homeyou will qualify for some competitively priced home loans. But if you put off remortgaging for a year and house prices have fallen by 10 you will be left with equity of about 17. As equity of 25 is the cut off point for many good deals you are likely to pay a considerably higher rate than you would have if prices hadnt fallen. Another reason for locking into a competitive mortgage rate now is that many... 2010-9-18 12:30:35 http://www.independent-mortgage-store.co.uk/page6.htm#69667 THE MORTGAGE MINEFIELD by Naomi Caine of Sunday Herald Is it time to fix your mortgage rate The average rate on two years fixes has fallen to 4.52 its lowest level since September 2003 according to research from Moneyfacts. There are also more loans available to borrowers with smaller deposits. Since the credit crunch banks and building societies have taken a more cautious approach to lending and have been reluctant to advance loans to borrowers with a deposit of less than 10 believing them to be higher risk. So why are fixed rates coming down The price falls partly reflect a general downward trend in so called swap rates but they also reflect a more stable environment. House prices are now less shaky and lenders are willing to take on more business so competition is hotting up. Lenders also have more room to manoeuvre on price as they have built in fatter profit margins in recent years and so have greater scope to to lower rates. But is now a good time to fix even though some rates... 2010-7-6 12:11:14 http://www.independent-mortgage-store.co.uk/page6.htm#67611 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion. 2010-6-10 14:42:27 http://www.independent-mortgage-store.co.uk/page6.htm#66089 Sunday times article by Elizabeth Colman Brokers are urging homeowners on standard variable rate SVR mortgages to move onto fixed rate loans as they are at their chespest for 10 months. Borrowers paying the average SVR could save 16316257 on a 163200000 mortgage over 5 years by remortgaging onto the market leading product. The reasearch comes as markets fear that interest rates could go up more sharply than predicted because of a surprise jump in inflation. The Office for National Satistics said inflation rose to 3.4 last month from 3 in February. The figures exceed analysts forecasts for an increase of about 3.1 in the consumers price index. 2010-5-23 14:54:22 http://www.independent-mortgage-store.co.uk/page6.htm#65675 British population were told to expect a rise in interet rates after living costs soared. Inflation leapt to 5.3 last month the biggest jump since July 1991. Bank of England govenor Mervyn King wrote to Chancellor George Osbourne yesterday to say inflation was highre than expected. 2010-5-19 16:41:21 http://www.independent-mortgage-store.co.uk/page6.htm#65104 We finally have a new government today however with this starts the extensive cuts that we have all been expecting. The new government have already announced that it will cut costs by 1636 billion this year and an emergency budget has been announced to be held within the next 50 days. With the economy still reeling from the effects of the credit crunch and with the Euro zone now in melt down it is clear that we are going to be in for a bumpy ride over the next 12 months. In the UK unemployment is currently standing at 2510000 the highest level since December 1994 and economists are predicting that this will continue to rise. In addition to this it is also expected that interest rates will now rise faster than expected with a potential increase before the end of 2010. If you have not already protected your mortgage in the event of unemployment this is now the time to do so before it is too late Some facts We can now set up a policy even if you are not changing your mortgage... 2010-5-12 10:34:58 http://www.independent-mortgage-store.co.uk/page6.htm#64946 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion 2010-5-10 13:30:54 http://www.independent-mortgage-store.co.uk/page6.htm#64923 Sunday times article by Elizabeth Coleman The Election results may lead to rate rises so borrowers should explore their options. Mortgage costs could rise sooner than expected after last weeks election failed to deliver an outright majority for the Conservatives. Economists said that the Bank of England may now come under pressure to raise interest rates if sterling remains weak. This increases import prices which in turn pushes up inflation. The centre of Economics and Business research raised its forecast for bank rate last week. It previously thought it would remain on hold until August 2011 but now expects a rise of 0.25 as soon as this June. With most economist expecting rates to rise by 0.25 now is the time to take stock of your mortgage and ensure that you have the best overall product. For the nervous it is essential to get onto one of the low fixed rate schems that are currently on the market with the more adventurous opting for offset mortgages. 2010-5-10 10:09:33 http://www.independent-mortgage-store.co.uk/page6.htm#62538 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion. 2010-4-8 14:10:39 http://www.independent-mortgage-store.co.uk/page6.htm#61683 The number of loan approvals for house purchase 47094 was lower than the January figure 48099 and below the previous sixmonth average 55130 the Bank of England have revealed today. Lending to individuals February 2010Total net lending to individuals rose by 1632.1 billion in February. The twelvemonth growth rate ticked up to 0.9. The threemonth annualised growth rate was 1.5 a 0.2 percentage points increase on January.Within the total net lending secured on dwellings increased by 1631.6 billion above the January increase of 1631.5 billion and the previous sixmonth average of 1631.4 billion. The twelvemonth growth rate was unchanged at 1.0.The threemonth annualised growth rate was also unchanged at 1.4. Approvals for remortgaging 27297 were higher than in January and also higher than the previous sixmonth average while approvals for other purposes 25017 were higher than in January but still below the previous sixmonth average. 2010-3-29 14:11:53 http://www.independent-mortgage-store.co.uk/page6.htm#61284 Chancellor Alistair Darling has today confirmed that the starting threshold for Stamp Duty will be raised from 163125000 to 163250000 for firsttime buyers The reform will apply for this year and next and will come into effect as of midnight tonight. The Chancellor outlines that the move will help nine in ten firsttime buyers. The levy for properties over 1631m will be charged at 5 to compensate for raising the threshold.The Stamp Duty Holiday had been in place since September 2008 and lasted until December 31 last year. The starting threshold for Stamp Duty was raised from 163125000 to 163175000.Until now a levy of 1 of the purchase price had to be paid by those buying a property of over 163125000 and up to 163250000. The tax went up to 3 for properties over 163250000 and up to 16350000 and properties worth over 163500000 were charged Stamp Duty at a rate of 4.The Council of Mortgage Lenders CML estimated that around 92 of firsttime buyers would have been exempt from paying Stamp Duty... 2010-3-24 15:00:29 http://www.independent-mortgage-store.co.uk/page6.htm#60576 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion. 2010-3-4 15:02:45 http://www.independent-mortgage-store.co.uk/page6.htm#59573 2010 RICS European Housing Review shows UK was among only five countries that saw house prices rising in 2009 Signs of recovery are already visible in some European housing markets especially in sales levels and prices says the latest RICS European Housing Review launched today in Brussels 2 March 2010.A significant number of European residential markets were starting to show signs of recovery as early as spring summer 2009 and further revival is expected in 2010. Norway led the way with prices rising by 12 percent followed by Finland where they rose by eight percent and then Sweden who saw a seven percent increase. In the UK prices rose by one percent in 2009 overall but by 10 percent since their lowest point in April. Low interest rates and reviving economies helped to avoid housing market meltdown across much of Europe. In Germany Italy Netherlands and France last years falls were relatively moderate between 4 percent to 6 percent and though today markets are still fragile they are... 2010-3-2 15:25:21 http://www.independent-mortgage-store.co.uk/page6.htm#57697 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at 163200 billion . 2010-2-4 13:11:52 http://www.independent-mortgage-store.co.uk/page6.htm#56944 ARTICLE IN SUNDAY TIMES by Simon Read The days of rock bottom mortgages may be over as one of the biggest lenders hoists its variable rate Mortgage rates are set to soar for hundress of thousands of borrowers after the Skipton announced plans to raise its standard variable rate by almost 0.5 despite there being no increa in the bank base rate for a year. Other building societies are likely to follow Skipsons lead as it makes it easier for others to follow as the will get less flack. Building societies that has so far have increased their variable rate include Skipton Scottish Ipswich Cambridge Marsden and Mansfield. The Skipton which has just over 100000 borrowers will incresae its rate from 3.5 to 4.95 from 1st March leaving borrowers on a typical 163150000 mortgage needing to find around an extra 1631500 a year. The increase will also apply to the Societies specialist lending subsidiary Amber Homeloans. Anyone facing an increased SVR should consider switching lenders and deal... 2010-1-23 09:25:07 http://www.independent-mortgage-store.co.uk/page6.htm#55662 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163200 billion financed by the issuance of central bank reserves 2010-1-7 13:23:57 http://www.independent-mortgage-store.co.uk/page6.htm#54291 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163200 billion financed by the issuance of central bank reserves . 2009-12-10 13:32:01 http://www.independent-mortgage-store.co.uk/page6.htm#53483 Sunday Times article by Elizabeth Colman Government backed banks raised mortgage rates and introduced stricter lending criteria last week amid concerns that this years house price recovery is not sustainable. Northern Rock increased its market leading 5 year fixed rate for remortgages from 4.99 to 5.39 while the equivalent deal for homebuyers went up from 4.99 to 5.29. Both require a 30 deposit. Royal Bank of Scotland 84 owned by the taxpayer surprised brokers by increasing the deposit required for its popular two year tracker from 20 to 25. Industry sources confirmed most of the big mortgage lenders were anticipating a double dip in house prices next year. Average house prices fell 20 from the peak of 163186044 in November 2007 to a trough of 163147746 in February this year according to the Nationwide house price index. 2009-11-22 09:25:23 http://www.independent-mortgage-store.co.uk/page6.htm#52383 Bank of England Maintains Bank Rate At 0.5 and Increases Size of Asset Purchase Programme by 16325 Billion to 163200 Billion 2009-11-5 09:52:53 http://www.independent-mortgage-store.co.uk/page6.htm#50226 Bank of England Maintains Bank Rate at 0.5 and continues with 163175 Billion Asset Purchase Programme The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163175 billion financed by the issuance of central bank reserves. 2009-10-8 12:26:57 http://www.independent-mortgage-store.co.uk/page6.htm#49364 SUNDAY TIMES ARTICLE BY ELIZABETH COLMAN Two of Britains biggest lenders raised the cost of new mortgages last week one day after the bank rate was kept on hold for the sixth consecutive month. Lenders have cosnsistently put up the cost of new mortgages in the past six months despite bank rate being on hold at 0.5 since March. Experts warned that fixed rate mortgages could soar to 10 when the Bank of England starts to raise rates again if lenders continue to profiteer. Darren Cook of Moneyfacts the financial data firm said Its astonishing to see margins continuing to grow at the expense of borrowers. If mortgage rates go on like this and they will the closer we get to the bank increasing rates we could soon see mortgage rates of close to 10. 2009-9-13 18:09:34 http://www.independent-mortgage-store.co.uk/page6.htm#48487 The Bank of Englands Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5. The Committee also voted to continue with its programme of asset purchases totalling 163175 billion financed by the issuance of central bank reserves. The Committee expects the announced programme to take another two months to complete. The scale of the programme will be kept under review. 2009-9-10 13:24:31 http://www.independent-mortgage-store.co.uk/page6.htm#47567 Scottish mortgage market begins to stabilise in second quarter 26 August 2009New data from the Council of Mortgage lenders shows lending activity in Scotland began to stabilise in the second quarter mirroring the trend seen in the UK more widely In the second quarter of 2009 there were 11400 house purchase loans taken out in Scotland a 50 rise from 7600 in the previous quarter but 39 below the same quarter a year earlier. The rise in mortgage lending in Scotland was spread evenly across firsttime buyers and home movers. There were 4300 loans to firsttime buyers up 54 from the previous quarter and 7200 loans to home movers up 53 from the first quarter.There is some evidence that the tightening in lending criteria is slowing. Firsttime buyers typically put down a 25 deposit in the second quarter unchanged from the previous quarter but up from 13 a year earlier. Home movers typically borrowed 70 of the propertys value down from 71 in the previous quarter and 73 in the same quarter a year ... 2009-8-26 13:24:07 http://www.independent-mortgage-store.co.uk/page6.htm#46304 Chief Economists Weekly Brief 03 August 2009 Much of the globe is still mired in recession but unprecedented policy support together with recent signs of stabilisation leave policymakers in a quandary. The difficult decision is whether to fight on with further stimulus wait and see or start to pull back. In the developed economies patience is a virtue but in China where the recovery is well advanced the search for the exit may be about to beginHouse prices in the UK rose for the third consecutive month in July. According to Nationwide the average price of a house rose by 1.3 mm to 163159K last month. This led to speculation that prices could end the year above where they started it. But it is a shortage of available properties that is supporting prices rather than a rebound in demand. Although there has been some improvement mortgage approvals saw a 7th monthly rise in June it ... 2009-8-5 09:04:07 http://www.independent-mortgage-store.co.uk/page6.htm#45329 Chief Economists Weekly Brief 20 July 2009 Last weeks releases continued to pour cold water on the idea that a robust recovery is close at hand. China was the exception reporting rapid growth in Q2 although questions remain about the sustainability of its upturn too.One of the defining features of the current downturn has been the collapse in world trade which intensified in Q1. The total value of trade of the 30 most industrialised nations fell by an unprecedented 27 yy the fastest pace since OECD statistics began in 1970. Exports of goods in the seven largest developed nations the G7 took a battering with volumes slumping 23 yy much worse than the 8 yy decline recorded in the previous quarter. Japan was hardest hit with exports tumbling 42 yy followed by France and Germany which posted 26 and 23 declines respectively. The UK and US fared better although the 17 declines recorded... 2009-7-20 17:20:30 http://www.independent-mortgage-store.co.uk/page6.htm#44619 Bank of England Maintains Bank Rate at 0.5 and continues with 163125 Billion Asset Purchase Programme 2009-7-9 14:55:10 http://www.independent-mortgage-store.co.uk/page6.htm#44611 Commenting Martin Ellis housing economist said There was a 0.5 decline in average UK house prices in June. On a quarterly basis the 1.9 fall in house prices in the second quarter was the smallest since 2008 quarter one. These figures provide evidence that the underlying pace of house price decline is easing. There are further indications of a modest improvement in sales activity albeit at a very low level. Industrywide figures show that the number of mortgages approved to finance house purchase increased for the fourth successive month in May. Approvals were at their highest level since April 2008 and 10 higher than a year earlier. Improvements in affordability and low interest rates have stimulated housing demand. This together with a low level of properties available for sale has helped to stabilise activity and reduce the underlying rate of house price decline in recent months. Whilst there have been encouraging recent signs of improvement the outlook for the UK economy ... 2009-7-9 11:27:30 http://www.independent-mortgage-store.co.uk/page6.htm#43971 Article in Glasgow Herald by Naomi Caine There are signs that buyers are returning to the hosuing markets but anyone thinking of moving home should expect to pay more for their mortgage. Anyone thinking of buying a house or switching their mortgage could pay a high price as almost all lenders have raised the cost of their fixed rates over the past few days. Nationwide for example has raised rates twice in as many weeks. A 3 year fixeed rate with a 25 deposit now costs 4.98 up from 4.54 which was an increase from the previous rate of 4.28. After a period of relative calm in the mortgage market lenders are stumbling over each other to increase fixed rate mortagges. The last time we saw such frantic activity was at the end of June 2008 when the average 2 year fixed rate reached a staggering 7.08. The rise in swap rates might have triggered the recnt bout of increases but lenders have also wasted no oppertunity in boosting their profits margins. In June 2008 when the average rate hit... 2009-6-27 17:33:09 http://www.independent-mortgage-store.co.uk/page6.htm#43590 Article from Glasgow Herald by Naomi Caine There are signs that first time buyersFTB are coming back into the housing market. There were 135000 loans to FTBs in April which is an11 jump on the previous month. FTBs are the life blood of the market so any increase is welcome. As mortgage rates have come down over the last year the Council of Mortgage Lenders figures show that FTBs typically commit 15 of their income to their mortgage interest the lowest proportion since May 2004. But if purchases are more afforadable whats holding young buyers back Basically there is still a lack of readily available finance for first time buyers especially those with small deposits. Abbey amp Nationwide are amoungs a small group of lenders who will do deals on up to 90 of the propertys value. Most banks and building societies still insist on a deposit of at least 15 and the best are only open to people with a deposit in excess of 25. Lenders who will entertain first time borrowers with only a 5 deposi... 2009-6-20 10:35:11 http://www.independent-mortgage-store.co.uk/page6.htm#43494 From article in Telegrah by Kara Gammell The cost of fixed rate mortgages is already beginning to rise and is predicted that it will go higher still in the coming months. This is bad news for consumers because according to the CML 69 of mortgages taken out in April 2009 were fixed the higherst share since June 2008. Nationwide CampG and Northern Rock have raised rates on their fixed price mortgages following steep increases in the swap rates upon which fixed rate mortgages are based. Other lenders are expected to follow suit If you wish to obtain the cheapest deal move quickly and phone the Independent Mortgage Store on 01413373393 2009-6-16 18:00:35 http://www.independent-mortgage-store.co.uk/page6.htm#43561 Sunday Times article by Elizabeth Colman Britains banks stand to reap a 163900m windfall from the recovery as mortgages look set to rise for the first time in a year. Anaylists have warned that the average 5 year fix could hit 6 within weeks. Deals as low as 4.5 are still available but they are expected to disappear fast. While the Bank of Englands rate is not expected to go up until next year the cost of funding mortgages has already moved in anticipation. The message for borrowers wanting to take a fixed rate is clear GET IN NOW OR MISS OUT ON THE CURRENT RELATIVELY LOW RATES. 2009-6-14 20:41:56 http://www.independent-mortgage-store.co.uk/page6.htm#43493 Bank of England Maintains Bank Rate at 0.5 and continues with 163125 Billion Asset Purchase Programme 2009-6-4 17:59:22 http://www.independent-mortgage-store.co.uk/page6.htm#36328 As Im sure you know The Bank of England did cut base interest rates on Thursday to 1. Many lenders are still to set their new rates so contact us if you need advice on remortgaging. 2009-2-9 10:05:44 http://www.independent-mortgage-store.co.uk/page6.htm#35999 The Bank of Englands rate setting committee meets today and is widely expected to recommend cutting interest rates to 1. This is great news for homeowners on variable rate mortgages but dont be too complacent this article appeared in Mondays Daily Mail suggesting that some borrowers will be paying virtually no mortgage interest but others homes may heading for negative equity. Mondays mortgage report from the Daily Mail By Daily Mail ReporterLast updated at 1121 AM on 02nd February 2009 Thousands of people are set to pay as little as 8 pence a month for their mortgages. Some homeowners could see their monthly mortgage payments drop as low as zero this week. The Bank of England is expected to cut interest rates to just 1 per cent on Thursday bringing a windfall to those with interestonly tracker loans. If it does Cheltenham amp Gloucester customers who took out a deal at 1.01 percentage points below the Banks base rate will be paying no interest at all. For technica... 2009-2-4 00:41:31 http://www.independent-mortgage-store.co.uk/page6.htm#35998 Blogging is not necessarily my strong point but in the interests of keeping you up to date with the latest in mortgages here goes... Did you know Bank of Ireland and Bristol and West have pulled from the intermediary market and no longer accept new mortgage business Mortgage Express are waiving ERCs early repayment charges for people who pay off their mortgage between February and June 2009 Bank of Scotland and BM Solutions have withdrawn form the self cert market but continue to offer product transfers for existing self cert customers Bank of Scotland applies 80 LTVloan to value limit on mainstream further advance applications The Mortgage Works have amended their rental calculators on Buy to Let mortgages Keep checking back for updates 2009-2-3 23:44:06