Posts Tagged ‘borrowers’
Arrears and possessions at all-time historic low according to UK Finance
Mortgage arrears and possessions continue to remain historically low is the headline of the latest news report from UK Finance. The news report from UK Finance reveals that there were 76,740 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2018, 8 per cent fewer…
Read MoreBank of Scotland launches mortgage gift site
Bank of Scotland is offering first-time buyers, home movers and those who switch from another lender £500 to spend on a new online Mortgage Gift site as part of its latest mortgage campaign. Graham Blair, mortgage director at Bank of Scotland, said: “We are always thinking of new ways to make life easier for our…
Read MoreUK FINANCE REVEALS NUMBER OF INTEREST-ONLY MORTGAGES HALVES IN SIX YEARS
The number of interest-only mortgages has almost halved in the past six years, UK Finance figures reveal. There are currently 1.7 million outstanding interest-only mortgages (including partial interest-only), down 46 per cent since 2012. Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance, said: “The number of outstanding interest-only loans has halved…
Read MoreMortgage arrears and repossessions hit new low.
According to data from UK Finance the number of mortgages in arrears of 2.5% or more of the outstanding balance declined to 88,200 in the second quarter of this year, this figure amounted to 0.8% of the more than 11 million mortgages outstanding in the UK, the lowest level since at least 1994 when this run of data…
Read MoreResearch shows that over three quarters of mortgage advisers recommend private surveys
Latest research from TMA Mortgage Club, shows that over three quarters (76%) of advisers recommend taking out private surveys when purchasing or remortgaging a property. In the press release they state: The majority of advisers say that they recommend borrowers take out a private survey before buying as they offer a thorough analysis of a…
Read MoreNumber of large deposit borrowers drop to lowest level in 2017 according to E-Surv
The latest Mortgage Monitor from e-surv May 2017 headlines ‘large deposit borrowers fall to lowest level in 2017’. According to e-surv, one of the UK’s largest residential chartered surveyors, the proportion of people buying a home with a large deposit fell in May. The size of overall mortgage market shrinks compared to last year,…
Read MoreIncrease in number of remortgages Q4 2016 according to Paragon Mortgages
Recent press release from Paragon Mortgages headlined ‘Brokers see surge in remortgages as borrowers opt for longer term fixed rates’. Paragon Mortgages’ latest Financial Advisors Confidence Tracking (FACT) Index report has identified a shift in type of mortgage borrower in 2016, with remortgage business increasing in each quarter. In the Q4 2016 report it states…
Read MoreSignificant rise in Mortgage approvals in January
According to a news release out yesterday from the BBA, it mentions a significant rise in mortgage borrowing at the start of this year, the BBA is the UK’s leading association for the banking sector. The figures in the release showed. The number of mortgage approvals in January was 33% higher than a year ago,…
Read MoreRepossessions fell in 2015
Figures from mortgage lenders show that the number of homes repossessed fell to an 11 year low in 2015. Across the UK 10,200 repossessions were recorded in 2015, almost half the 20,900 cases recorded in 2014, that is according to the Council of Mortgage Lenders (CML). They reportedly pointed out that a court case which…
Read MoreIncrease in Buy-to-Let mortgages.
Competion between lenders has increased due to a bouyant buy-to-let market, meaning better deals and lower rates on offer, according to Moneyfacts. Charlotte Nelson, finance expert at Moneyfacts.co.uk, reportedly said: “The buy-to-let market is clearly booming; with rents at a high and buy-to-let mortgage rates dropping to historic lows, there is great potential for prospective…
Read MoreMoody’s remarks on interest rates
Moody’s who provide credit ratings and research covering debt instruments and securities said that the majority of British homeowners would be little affected by a moderate rise in interest rates, a rise of 1% would only affect about 1% of borrowers in that they would find it difficult to meet their mortgage repayments and living…
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