Remortgage - In the News

14 January 2009 - Couples 'concerned about economy'

Almost one in five UK couples have admitted that they are unsure whether they would survive financially for more than a month if one of them were to lose their job in the current economic climate, new research has revealed.

According to the study by callcreditcheck.com, 26 per cent of ... More

9 January 2009 - Government mortgage schemes 'will gradually take effect'

The proposed mortgage schemes from the government will gradually take effect for the worst affected homeowners, one sector commentator has claimed.

As part of last year's Pre-Budget report, the government announced a package that included shortening the waiting time for Support Mortgage ... More

6 January 2009 - New base rate for a new year?

The Bank of England's monetary policy committee (MPC) will meet tomorrow (January 7th) to begin discussions over whether further cuts will be made to the base rate of interest.

Currently, interest rates stand at two per cent, after consecutive reductions were made in October, November and... More

2 January 2009 - Planning for a new life overseas?

Britons who hope to move abroad at some point over the course of 2009 have been advised by one sector commentator to take the time to plan for every aspect of the transition.

Simon Ripton, joint managing director of Alliance and Leicester International, said that one step should be ... More

31 December 2008 - Brits get ready to save more

Saving more money has been given as a top new year's resolution by almost half of British consumers, according to the findings of new research.

The survey, conducted by the Association British Insurers (ABI), revealed that 47 per cent of people aim to put more of their cash to one side in... More

30 December 2008 - Pound closes in on euro

Sterling is coming ever closer in value to the euro, after the latter rose to an all-time high of €1.02 against the pound yesterday (December 29th).

It is now believed that these reports could highlight that the impending economic recession the UK is facing could be even worse than ... More

24 December 2008 - Bank's deputy governor appointed

The Bank of England has appointed a new deputy governor.

Paul Tucker will take over the reins from Sir John Gieve, who is set to leave the role in March 2009.

The Bank of England announced that an evidence session on the matter will take place on January 21st at the House of ... More

23 December 2008 - BOE 'failed to see crisis severity'

The Bank of England (BOE) failed to predict the potential severity of the ongoing economic crisis before it began, one senior executive of the establishment has admitted.

Deputy governor of the BOE Sir John Gieve - who is due to retire from his position in March - explained that officials... More

19 December 2008 - Has the bubble burst?

One of the ways of interpreting the ongoing financial crisis, according to one sector commentator, is the bursting of a bubble of trust.

Colin Melvin, chief executive officer of Hermes Equity Ownership Services, explained that this was not only the trust between banks, but also that ... More

18 December 2008 - 'No insurmountable obstacles' to zero interest rates

There do not appear to be any insurmountable technical obstacles standing in the way of the base rate of interest falling to zero in the UK, in the opinion of one sector commentator.

Jonathan Loynes, chief European economist at Capital Economics, said that with the US Federal Reserve ... More

17 December 2008 - Still paying for last year's Christmas?

More than 4.5 million credit card customers are still paying off the debts they built up through spending last Christmas, with 2008's festive celebrations now only a week away.

According to research by Money Expert, many Britons could now be pushing themselves further into the red, as ten... More

15 December 2008 - Major steps into economic debate

The former Conservative prime minister John Major has criticised the current Labour prime minister Gordon Brown over the state of the UK economy, it has been reported.

Sir John, speaking on BBC One's Andrew Marr show, predicted that the length and severity of the impending recession could... More

11 December 2008 - 'Light at end of tunnel' for the pound

There is a light at the end of the tunnel for the pound sterling, with one sector commentator optimistic that it will pull back from the edge in 2009.

Jeremy Cook, chief economist at World First, said that the sterling was likely to enjoy a positive 12 months, despite its current ... More

9 December 2008 - Re-mortgaging 'should be considered early'

Britons considering a re-mortgage of their property should ensure that they begin thinking about this option early, according to one sector commentator.

Kate Faulkner, managing director of Designs on ... More

8 December 2008 - There is a 'real risk of deflation'

The UK is now at a real risk of actual deflation and it was this threat the Bank of England acted on when it reduced interest rates, one sector commentator has claimed.

Last week, the Bank's monetary policy committee slashed the base rate by one percentage point from three per cent to two... More

5 December 2008 - Brown 'to push banks'

The prime minister has pledged that he will push the UK's banking sector into passing on interest rate cuts to the consumer.

Gordon Brown's promise follows yesterday's (December 4th) decision by the Bank of England's monetary policy committee to slash the base rate to two per cent from ... More

4 December 2008 - Base rate cut to two per cent

The Bank of England has announced today (December 4th) its decision to cut the base rate of interest by one percentage point.

This takes the base rate from three per cent to two per cent - its lowest level since 1951.

In a statement it was revealed that the Bank's monetary policy... More

3 December 2008 - Get shopping savvy at Christmas

It is important that Britons get savvy with their shopping and spending commitments this Christmas, to avoid encountering monetary problems further down the line, one group has claimed.

According to the Citizens Advice Bureau, consumers should not forgo their mortgage or More

2 December 2008 - Britons 'will be ahead'

Recent changes to personal tax allowances announced in the pre-Budget report last week will mean that Britons will be ahead compared to where they stood under the 10p tax regime earlier in the year, one sector commentator has claimed.

John Whiting, chairman of the management of taxes ... More

28 November 2008 - Zero per cent interest 'not possible'

In the current economic environment, zero per cent interest rates were "not possible", one sector commentator has claimed.

Mark Dampier, head of research at Hargreaves Lansdown, said that he expected the Bank of England to raise rates by at least one per cent by ... More

27 November 2008 - 'Crucial' to back up pension with savings

The increasing demand on the UK pension pot means that it is of vital importance that it is backed up with some savings, one sector commentator has claimed.

Hetal Parmar, manager for savings at Alliance & Leicester, said that in the current economic climate, everyone was thinking ... More

25 November 2008 - Government has 'missed opportunity'

The UK government has missed a chance to make the tax system "permanently fairer", according to the Liberal Democrats.

In a statement that followed yesterday's (November 24th) pre-Budget report announced by the chancellor of the Exchequer Alistair Darling, the party said that a ... More

21 November 2008 - 'All tools to be implemented' during downturn

All of the tools in the armoury - a combination of interest rates and fiscal policy - need to be utilised to deal with the economic crisis, one sector commentator has claimed.

Paul Dales, UK economist for Capital Economics, said that the purpose of recent cuts made to the base rate of ... More

20 November 2008 - 'Come together' at crunch time

The credit crunch may have one bright side - the opportunity to bring Britons closer together as they all battle through the same problem, one sector commentator has claimed.

A spokesperson for the Centre for Equality and Diversity said the ongoing economic downturn was likely to bring ... More

19 November 2008 - Brown: 'Cameron doesn't understand'

Gordon Brown has accused the leader of the Conservatives and the shadow chancellor George Osborne of not understanding what is currently going on in the world economy.

Responding to a question from Tory leader David Cameron in parliament earlier this week, the prime minister said that at ... More

18 November 2008 - Britons 'should check finances'

People in the UK need to be checking their financial situation regularly, one sector commentator has claimed.

A spokesperson for LV= said that often Britons believed that they would not be the ones to lose their jobs, however, with unemployment on the rise this could prove to be a false ... More

17 November 2008 - Support for UK tax cuts?

It is believed that the prime minister is set to announce he has won approval from other world leaders to go ahead with plans to cut taxes in the UK.

Gordon Brown is to use conclusions from last week's Washington G20 summit to offer justification for raising tax credits for Britons on a ... More

14 November 2008 - Repossessions 'in nobody's interest'

It is in nobody's interest for a mortgage lender to repossess a property and force a sale in the current market, one sector commentator has claimed.

Al Elliot, advisor at the Homeowners Advice Centre, said lenders needed to be doing more to support their existing customers in avoiding ... More

11 November 2008 - Tax cut for business 'a good call'

Cutting taxes or reducing VAT for small business would be "a good call" for the government to make in its attempt to boost the UK economy, one sector commentator has claimed.

Charles Davis, economist at the Centre for Economic and Business Research, said having enterprises ... More

10 November 2008 - UK 'heading for recession'

Many Britons believe the UK to already be in recession.

According to the Guardian, this has been brought on by the continuing downturn in the economy over recent months.

The British Retail Consortium has noted that 84 per cent of Britons now believe that the country is already in... More

7 November 2008 - Past lending decisions 'may not have been responsible'

Lending decisions in the past five or six years may not have been responsible and could have resulted in available credit being very cheap, it has been claimed - which may include secured or unsecured ... More

6 November 2008 - The waiting game

Today (November 6th) the Bank of England's monetary policy committee (MPC) will announce whether it has decided to make a cut to the base rate of interest and if it has, by how much.

It is expected that the MPC will follow the trend set by the Bank last month with a half a percentage ... More

4 November 2008 - One per cent cut called for

The bank of England is being urged to cut the base rate of interest by one percentage point - the biggest reduction since 1992.

This will see the monetary policy committee (MPC) cutting interest rates from 4.5 per cent to 3.5 per cent.

Rates had stood at five per cent since April... More

3 November 2008 - MPC 'must not disappoint'

The monetary policy committee (MPC) must not disappoint when it meets to discuss interest rates this Thursday (November 6th), one sector commentator has claimed.

According to Joshua Raymond, a market strategist at City Index, there were growing concerns within the markets that any ... More

29 October 2008 - 'Hundreds' of Britons losing their homes

The repossession rates in the UK have reached a level resulting in 120 Britons a day losing their homes, it has been noted.

According to the Mirror, this is a rise of 70 per cent in a year, while house prices have fallen eight per cent, seeing many people living in negative ... More

27 October 2008 - Homeowners 'should talk to lenders'

Homeowners who are finding it a struggle to keep up with their mortgage payments during the ongoing financial crisis should get in contact with their lenders "sooner rather than later", one sector commentator has claimed.

Al Elliot, advisor at the Homeowners Advice Centre, said ... More

24 October 2008 - Economy 'braced for recession'

It is believed that new figures set to be released today (October 24th) will reveal that the economy has shrunk in recent months and brought the UK to the brink of recession.

According to the BBC, Gross Domestic Product is likely to have fallen by between 0.1 per cent and 0.5 per cent ... More

23 October 2008 - Brown admits recession

The prime minister used the term recession for the first time in public yesterday (October 22nd) as he spoke to the House of Commons.

Gordon Brown noted that the government had taken action on the collapsed banking sector and now was the time to address the issue of climbing property ... More

20 October 2008 - Inflation 'has peaked'

Inflation levels in the UK have "almost certainly peaked", according to one sector commentator.

Jonathan Loynes, chief European economist at Capital Economics, said he believed rates would begin to fall sharply over the next year or so.

He added that this was partly ... More

17 October 2008 - FSA warns of tougher measures to come

The new chairman of the Financial Services Authority (FSA) has claimed that the UK banking sector will now face a much stricter regime of regulation, it has been noted.

According to the Times, Lord Adair Turner admitted that in the past the financial watchdog had supervised the industry ... More

16 October 2008 - 'Too late to be saved' from downturn

It is probably too late to save the UK from a "fairly serious" slowdown, which is most likely to manifest itself as a recession, one sector commentator has claimed.

Ben Read, managing economist at the Centre for Economics and Business Research, said that the government's ... More

15 October 2008 - Concerns continue in Wales

Fears are continuing to mount among council workers in Wales, as leaders have warned that services may suffer.

The news comes following reports that finance minister Andrew Davies had ruled against a bail-out for local authorities that had invested in the collapsed Icelandic banking ... More

14 October 2008 - UK package to become EU blueprint

The government's £500 billion bailout scheme, which was designed to rescue its flagging banking sector, will become the blueprint for a similar package being drawn up by the European Union (EU), it has been claimed.

According to the Telegraph, the EU will use the package in its ... More

13 October 2008 - Government pledge "misguided"

The government's promise to protect all of the retail deposits that were invested in IceSave - the Icelandic bank - is the most "dangerous, misguided" act so far witnessed in the ongoing credit crunch, according to one sector commentator.

Independent policy advisor Dr Ros ... More

9 October 2008 - A new era of "global banking"

Recent developments in the UK financial sector suggest that the dawn of a new era of global banking has arrived, according to one sector commentator.

Paul Niven, head of asset allocation at F&C Asset Management, said the planned government bailout of domestic banking institutions - ... More

2 October 2008 - Homeowners' development rights "could evaporate"

The permitted development rights of homeowners could "evaporate" under the new reform posed by the government, one sector commentator has claimed.

In news that may be of interest to those seeking to More

5 September 2008 - Mortgage owners "fearful" of switching

Homeowners are fearful of switching their mortgage providers, however, this may result in them paying more for a new deal than they need to, it has been asserted.

In news that may be of interest to those seeking a More

1 August 2008 - A&L profits plunge 99%

Alliance & Leicester (A&L), the mortgage lender which is soon to be taken over by Abbey owner Santander, today revealed that profits had fallen by 99 per cent due to the effects of the recent economic crisis.

Pre-tax profits for A&L, which specialises in More

6 June 2008 - ''Bulk of lending'' to be for remortgages

The bulk of lending in the housing market is to be for homeowners looking to remortgage, one property expert has claimed.

Your Mortgage said that while the amount of lending has dropped, growth in terms of mortgage lending was still occurring but at a slower rate.

Pauline ... More

28 May 2008 - Many opportunities to acquire cheap property this year

There will be many opportunities to pick up cheap property in the buy-to-let market during the next year, one property expert has claimed.

Landlord Mortgages advised that opportunities will arrive but the question of to what degree prices will fall is unclear.

Managing director... More

10 April 2008 - HSBC offers extensions on fixed-rate mortgages

HSBC is offering two-year extensions on fixed-rate mortgages sold by rivals, while moneysupermarket.com has praised the move.

Louise Cuming, head of mortgages at the price comparison site, said the move could offer many homeowners a lifeline.

"This clever move will enable ... More

10 April 2008 - Mortgage demand 'unsure' for future

As the economy continues to send out unexpected signals to investors and consumers alike, some are unsure of the demand for mortgages in the future.

Rebecca Atkinson, news editor of moneywise.co.uk, said that while there is still demand for new mortgages, it will be difficult to tell how... More

10 April 2008 - Government support to mortgage markets welcomed

The government has appointed former chief executive of HBOS, Sir James Crosby, to lead a Mortgage Finance Working Group, and the news has been welcomed by different parties.

Director General of the Association of Mortgage Intermediaries (AMI), Chris Cummings, said: "He knows the ... More

19 March 2008 - Sale of Bears Stearns should be ''a wake-up call'' to British consumers

The recent sale of Bears Stearns in the US should be "a wake-up call" to British consumers, one financial expert has claimed.

JPMorgan purchased the investment bank for $2 per share after it experienced financial difficulties due to the effects of the credit crunch. ... More

19 March 2008 - Mortgage borrowers facing difficult time

Over a third of mortgage borrowers have put themselves at the mercy of their lender by making mortgage repayments over three times their annual salary according to new research.

Findings from Moneynet.co.uk show that higher payments and falling options are the becoming the norm with ... More

7 March 2008 - Variable-rate mortgages 'may have their downside'

Choosing a variable-rate mortgage could have potential risks following yesterday's Bank of England decision to keep the base rate of interest at 5.25 per cent, it has been claimed.

Mark Blackwell, director of intermediary sales at Alliance & Leicester, said that borrowers ought to ... More

6 March 2008 - BoE freezes base rate

The Bank of England's (BoE's) monetary policy committee has chosen to maintain the base rate of interest at its present level of 5.25 per cent.

Responding to the announcement, Cobalt Capital stated that it is "a shame" that the BoE did not reduce the rate ... More

6 March 2008 - CML highlights mortgage changes

Ahead of the monetary policy's decision on interest rates on March 6th, CML Media has warned that even a 0.25 per cent cut may ease concerns over mortgage affordability.

It noted that lenders are adjusting their products and rates in response to market conditions and an interest rate cut ... More

3 March 2008 - Remortgaging on the up

The number of remortgage approvals has risen while the number of mortgages being approved for new homes has also increased reveal new figures.

Findings from the Bank of England show that 74,000 loans were granted for new house purchases in January compared with 72,000 in the previous ... More

27 February 2008 - Tracker mortgages are the 'best bet' for consumers

Tracker mortgages are the "best bet" for those consumers looking to take advantage of falling interest rates this year, according to finance experts.

Moneysupermarket.com said that while rates have been going down, increasing numbers of consumers have been reverting to tracker ... More

27 February 2008 - Homeowners believe house value increased despite economic volatility

Despite declining levels of consumer confidence, up to 40 per cent of Brits believe the value of their homes has increased during the last six months, new research has revealed.

According to findings from CreditExpert, almost half of homeowners in the south believe this is the case while... More

25 February 2008 - Homeowners need to set aside 20% of income to pay stamp duty, say experts

The average home buyer in nearly one in three of local authorities needs to set aside over 20 per cent of their average income to pay the stamp duty bill associated with buying a new home, according to mortgage experts.

Research from Halifax reveals that in 2002 the average stamp duty ... More

21 February 2008 - Property market ''in the doldrums''

The ongoing slowdown in the UK housing market has seen remortgaging emerge as the dominant sector in home loan lending, an expert has stated.

Citing recent figures from the Council of Mortgage Lenders (CML), principal banking consultant at financial research company Defaqto David Black ... More

20 February 2008 - Brits 'confused about remortgaging'

Many UK homeowners struggle when it comes to remortgaging their property, according to new research.

The findings from Abbey show that almost one-third of British people would not know which product to choose if forced to remortgage their home tomorrow, as the current economic uncertainty... More

20 February 2008 - CML reports rise in lending for January

The UK's level of gross mortgage lending increased during the first month of 2008, it has emerged.

According to the latest figures from the Council of Mortgage Lenders (CML), gross lending reached an estimated £26.5 billion in January, just below the corresponding month last year, ... More

19 February 2008 - N Rock mortgage holders told not to worry

Homeowners with mortgage deals from Northern Rock have been advised not to panic about the company's impending nationalisation.

Rachel Lacey, editor of financial advice website Moneywise.co.uk, said that it is shareholders rather than borrowers who are likely to be affected by the ... More

11 February 2008 - Home repossessions 'will rise in 2008'

Figures for house repossessions in the UK will increase as the year goes on, an industry body has stated.

Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors (Rics), said that repossessions will rise as a result of the particularly "challenging ... More

8 February 2008 - Homeowners 'still want fixed-rate mortgages'

Fixed-rate mortgages are still in vogue with homeowners, one financial services provider has claimed.

New research from Abbey Mortgages shows that, if compelled to renew their mortgage tomorrow, 10.3 million Britons would opt for a fixed rate, compared to 2.8 million who would choose a ... More

7 February 2008 - Bank cuts cost of borrowing

Many mortgage borrowers are likely to be pleased by the Bank of England's decision to reduce interest rates from 5.5 per cent to 5.25 per cent this afternoon.

The Bank's monetary policy committee made the cut, as expected, in order to stay on track for the government's inflation target of... More

5 February 2008 - Survey reveals equity of UK homeowners

House price inflation has resulted in £1.96 trillion of property equity in the UK, according to a survey by GE Money.

The research showed that 26 per cent of homes are owned outright but even those people with mortgages have still built up £582 billion of equity in their ... More

4 February 2008 - Female movers 'leave money to men'

British men often take sole responsibility for money matters when moving house with their partner, according to new findings.

The study by Halifax Estate Agents discovered that 48 per cent of male movers will oversee the financial aspects of a property move, such as the mortgage and ... More

29 January 2008 - Females 'need more financial fitness'

Many British women are "financially overweight", an industry expert has claimed.

Head of mortgages at Abbey Nici Audhlum-Gardiner said that females spend less time than their male counterparts reviewing their finances and tend to waste more money as a result.

She ... More

23 January 2008 - Remortgages keeping UK market ''buoyant''

Strong demand for remortgaging is ensuring that the UK home loan market remains in a relatively healthy state, an expert has claimed.

According to Peter O'Donovan, mortgage manager at financial advice firm Bestinvest, the fact that lenders are still seeing "plenty of remortgage ... More

21 January 2008 - Brits ''waste money on wrong mortgages''

Too many UK borrowers are squandering money by choosing uncompetitive mortgage deals, a new study has suggested.

According to research from Abbey, £25 million is collectively wasted by people with unsuitable mortgages on a daily basis - the equivalent of about £5 each day for ... More

11 January 2008 - Mortgage holders advised to use fixed rates

People applying for a mortgage have been advised to take out a fixed-rate deal in order to avoid fluctuating monthly payments.

In light of the Bank of England's decision to hold interest rates at the current level of 5.5 per cent yesterday, potentially leading to disappointment for many ... More

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