|Mortgage & Refinancing Information|
Mortgage Research Good News for House Buyers
Figures from the Council of Mortgage Lenders show that in July gross lending in totalled £25.2 billion, with fixed rate deal mortgages are at their most popular for nearly six years.
Nonetheless, "July's growth in lending to individuals slowed from the recent trend," said British Bankers Association (BBA) spokesman David Dooks, "this could have reflected consumers waiting for the widely anticipated cut in interest rates."
Miles Shipside, Commercial Director of Rightmove, comments, "The belated but welcome drop in interest rates will be a real boost for sentiment in the market and a springboard for a better 2006."
However, more than half of all mortgage lenders have failed to pass on the full Bank of England interest rate cut to borrowers, and those that haven't done so already look unlikely to do so in the future.
"How these things usually work is that if the lender is going to pass on the full cut they announce so fairly quickly", Ray Boulger of John Charcol mortgage advisers.
Several lenders stated the rates on fixed mortgage deals from some providers had already started to drop in anticipation of the cut in interest rates earlier this month, while others argued that replicating the rate cut is not necessary because they did not pass on past increases.
A few lenders, including the Halifax, the UK's largest mortgage lender, immediately reduced its rates, but others have held off cutting borrowing costs or have trimmed them by less than the bank's quarter of a percent.
Despite the rate cut anticipation and the increases in the take-up of fixed rate deals, the British Bankers Association (BBA) said that net mortgage lending by its own members slowed down last month.
Rightmove in its latest house price index has indicated that house sales have slowed down. The numbers of completed sales for the three months from April to June are the lowest since 1998. To improve the chances of achieving sales, many new sellers are adjusting their prices in an attempt to undercut the competition. Asking prices have now dropped by an average of 1.2% over the past two consecutive months.
Rightmove believe that the housing market is gradually recovering, but "there is currently too much unsold property still available to expect anything other than a continuation of static asking prices this year".
Miles Shipside adds, "Sellers are finally becoming more realistic on their asking prices, which when combined with cheaper mortgages and rising wages, means that more buyers can now afford to enter the market." He went on to point out that, "We still need more first time buyers for the long term health of the property market."
Financial comparison site, Moneynet, puts the current first time buyers' average joint salary at £39,382, with an average mortgage amount required of £135,239 constituting a 66% borrowing on the cost of a property. This means that with sellers asking prices remaining static, or even falling, and wages gradually rising, for many potential first time buyers, there is an increase in the realistic prospect of getting onto the property ladder.
Halifax hoped that the interest rate reduction by the Bank of England would, "reduce mortgage payments as a proportion of gross income for the average new borrower from 20% to 19%, the average for the past 20 years and well below the 34% peak in 1990".
With the mortgage market especially competitive at present and rate comparison sources easily accessible, lenders who do not offer reasonable rates are liable to lose out. All this appears to be good news for buyers as Rightmove states, "there are now clear signs that the market is making sensible adjustments in prices to improve buyers' affordability."
Rightmove property agents - Rightmove
Mortgage comparisons - Moneynet
Richard lives in Edinburgh, occasionally writing for the personal finance blog Cashzilla and thinks "Half Man Half Biscuit" were a good band.
Current Mortgage Rates, July 7, 2020 | Rates ease Bankrate.com
You might have a tough time getting a 'jumbo mortgage' during pandemic. Here's what to expect - CNBC
Compare Today's Mortgage Refinance Rates: Jul 13 Credible News
What is the average refinance closing costs? The fees add up Business Insider
Successfully Refinancing Your Mortgage Isnβt Just About Getting A Great Interest Rate. Hereβs What Else You Need To Look For - Forbes
Successfully Refinancing Your Mortgage Isnβt Just About Getting A Great Interest Rate. Hereβs What Else You Need To Look For Forbes
2% mortgage rates: Real or marketing gimmick? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
2% mortgage rates: Real or marketing gimmick? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
YOUR MONEY: When mortgage rates are low, should you refinance? Part 2: Additional considerations - Inside NoVA
YOUR MONEY: When mortgage rates are low, should you refinance? Part 2: Additional considerations Inside NoVA
Lenders More Likely To Deny Black Home Buyers A Mortgage: LendingTree Financial Advisor Magazine
Refi Rates Today, July 8, 2020 | Rates slide Bankrate.com
How Often Can You Refinance Your Mortgage? Credible News
4 tips for refinancing your mortgage during the pandemic, from homeowners who just did it - Business Insider
4 tips for refinancing your mortgage during the pandemic, from homeowners who just did it Business Insider
Refi Rates Today, June 22, 2020 | Rates rise Bankrate.com
3 Things That May Prevent You From Refinancing a Mortgage The Motley Fool
COVID-19 Mortgage Help for Vets: The VA IRRRL | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
COVID-19 Mortgage Help for Vets: The VA IRRRL | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Stressed homeowners find cash-out mortgage refinances harder to get Daily Journal Online
Is Your Mortgage Forbearance Ending Soon? What To Do Next Realtor.com News
Record mortgage applications as Americans rethink importance of home: Quicken Loans CEO - Fox Business
Record mortgage applications as Americans rethink importance of home: Quicken Loans CEO Fox Business
Mortgage refinance: Everything you need to know Fox Business
THA Mortgage welcomes loan officer Thomas Blunk | Business News | richlandsource.com - Richland Source
THA Mortgage welcomes loan officer Thomas Blunk | Business News | richlandsource.com Richland Source
Getting a mortgage after bankruptcy: What to know Bankrate.com
How to refinance your mortgage Fox Business
What Is an Appraisal Waiver? A Way To Save Cash on a Refinance Realtor.com News
Is now the best time to refinance your mortgage? Fox Business
When should you refinance your mortgage? Fox Business
How to get the best mortgage refinance rates Fox Business
Using Data to Identify Members Ready for a Mortgage Refinance Credit Union Times
Stock Market Has Great Week β Market Update Zing! Blog by Quicken Loans
Mortgages: Forbearance Rates Drop While Applications Increase, But Lending Requirements Tightening - RisMedia.com
Mortgages: Forbearance Rates Drop While Applications Increase, But Lending Requirements Tightening RisMedia.com
Mortgage refinance applications spike 79% as homeowners rush to take advantage of lower rates - CNBC
Record number of borrowers can now save on a mortgage refinance as rates drop from coronavirus fears - CNBC
Record number of borrowers can now save on a mortgage refinance as rates drop from coronavirus fears CNBC
Should I refinance my house? Mortgage rates drop to 50-year low as coronavirus spreads across the U.S. β and the world - MarketWatch
Should I refinance my house? Mortgage rates drop to 50-year low as coronavirus spreads across the U.S. β and the world MarketWatch
How does mortgage refinancing work? Bankrate.com
Jumbo Loans: Requirements, Limits, and Rates Credible News
Rushing to Refinance Your Mortgage: 6 Tips and What to Avoid The New York Times
I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50000 - Business Insider
I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50000 Business Insider
Should you refinance federal student loans? Bankrate.com
Weekly mortgage refinance applications spike 15% as interest rates plunge to lowest in nearly 4 years - CNBC
Weekly mortgage refinance applications spike 15% as interest rates plunge to lowest in nearly 4 years CNBC
The basics of no-closing cost mortgage refinancing Fox Business
The impact of the coronavirus on mortgage refinancings Brookings Institution
Should you join the rush and refinance your mortgage now? Washington Post
Right now would be a good time to refinance your mortgage Tampa Bay Times
Best mortgage refinance lenders of 2020 Loop North News
The 8 Best Mortgage Refinance Companies of July 2020 | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
The 8 Best Mortgage Refinance Companies of July 2020 | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Maine Farmers Get Closing Cost Help From Credit Union Credit Union Times
The Mortgage Rates 'Sweet Spot' is Finally Here. Should You Refinance? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
The Mortgage Rates 'Sweet Spot' is Finally Here. Should You Refinance? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
2.5% mortgage rates are here. What's next β 2? Or even 1%? | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
2.5% mortgage rates are here. What's next β 2? Or even 1%? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Rockport Mortgage handles $36.4 million FHA Section 223(f) refinancing loan for Borden Place - New England Real Estate Journal Online
Rockport Mortgage handles $36.4 million FHA Section 223(f) refinancing loan for Borden Place New England Real Estate Journal Online
5 Questions to Ask Before You Refinance Your Mortgage HowStuffWorks
Bridging Finance Basics
Bridging finance is a short-term loan that is used as a way to provide funding for the purchase of a new property while the borrower awaits the sale of an existing property. Unless all the stars are in perfect alignment, it's tricky to coordinate the sale of one property and the purchase of another property so that the transactions occur simultaneously.
Zero Down Mortgage Loans - Is 100% Financing a Good Idea and Can You Get Approved?
Are you wondering if you can get approved for a home loan with 100% financing? Are you also wondering if its a good idea to get a mortgage loan with no money down? Here are some points to keep in mind as you apply and consider your different mortgage loan options.To qualify for 100% financing on a purchase mortgage loan, it would be important for you to have a credit score of at least 600 or higher.
Flexible Mortgages - Offering Relief from the Fixed Mortgage
A pension mortgage may seem lucrative at the first sight. However, they seldom are, if the customers who took pension mortgage are to be believed.
Think You Cant Get a Mortgage?
You've finally found that dream home that you have always been searching for, but you are afraid to apply for a mortgage because you have bad credit or less than perfect credit.Before you give up entirely, there are many mortgage programs that are geared towards people just like you.
No Deposit Home Loans
A few years ago, many of us would have had a light chuckle to ourselves if someone mentioned that you could borrow money to buy a house with only the promise of solid future earnings. But today this is a regular occurrence.
Construction Loan Basics
It might not be too big of an exaggeration to say that the construction loan is one of the more daunting aspects of building your custom home. Before we started our project, I had nightmares about trying to pay two full mortgages at the same time (our existing mortgage and the construction loan), and I didn't see how it was at all possible.
New Home Loan - 3 Tips To Speed Up The Mortgage Loan Approval Process
Imagine this: you've found the perfect house, and feel lucky because the interest rates happen to be at an all time low. So you submit your mortgage loan application, and then?wait.
First Time Buyer Home Loans - Things To Consider When Applying Online
As a first time home buyer, there are several things you should consider when applying for a loan online. First, do you know what type of loan you want? Secondly, do you want personal service or better rates? And finally, how do you plan on scheduling in a home loan?Type Of LoanMortgage loans come in a variety of financing forms to best suit your needs.
What is an Offset Mortgage?
An offset mortgage is very similar to a current account mortgage - but instead of having everything all in one account, all accounts are held separately.The offset mortgage concept treats your money as one giant pot, with each element (mortgage, savings, current account etc) separate to the rest.
Reverse Mortgage Maximization
Have your home's appreciation grow twice as fast.For Seniors over the age of 62 a Reverse Mortgage is a tool that, while new to many, is increasingly being used to maximize their retirement income.
Home Loans and Mortgages - Beware of New "Mortgage Elimination" Scam
The booming real estate market has allowed many Americans to become "equity rich." They may not have a lot of cash on hand, but they might have equity in their homes worth several hundred thousand dollars or more.
How Not To Be Ripped Off By Mortgage Brokers
One of the things that bothers me about the mortgage industry is the number of unscrupulous brokers that operate in this market.Talk about giving the industry a bad name!I worked for a mortgage lender until quite recently and I used to be shocked at the fees that brokers charged their clients.
No Money Down Home Loan
Are you in the market to purchase a home but are concerned about not having enough money for the down payment? No down payment home loans or 100% financing for your mortgage loan used to be only advertised during late night infomercials and in obscure real estate publications. The good news is that if you want to buy a house but have little or no money available for the down payment, there are mortgage lenders who are offering no money down home loans in your area.
UK Mortages: A Guide Through The Maze
Types of UK MortgagesYou may be wasting your money with the wrong type of mortgage. Knowledge is power.
Say Yes to ISA Mortgages for a Convenient Mortgage Repayment
Customers who opt for an interest only mortgage, and feel themselves fortunate at the extraordinarily low monthly installments, wake up. The mortgage may be fast approaching its repayment.
What is a Flexible Mortgage?
'Flexible mortgage' is a term that's used a lot, but what exactly does it mean? A flexible mortgage allows the borrower to make extra repayments when they have the extra money and even reduce or skip payments should the need arise.A flexible mortgage allows you to make extra payments to reduce the amount outstanding on your mortgage thereby reducing the interest you're paying or pay off your mortgage earlier than planned.
Life of an Escrow
Escrow is one of the last stages in the purchase or sale of a real property. When someone says that they are in escrow, it means that they have either accepted an offer on the sale of their property, or their offer to purchase has been accepted.
Home Loan Refinancing - What Lenders Dont Want You To Know
Refinancing lenders seems to hold all the cards. They have the money and their own system for determining which type of credit you can qualify for.
Mortgage Clarksville - Find the Best Deal
Searching for a mortgage can sometimes be a hassle. Where to apply, who to apply with, what deal to take.
Understanding Mortgage Points
When a mortgage broker asks a borrower to pay points, he or she is asking for a lending fee expressed as a percentage of the value of the loan. For example, two points on a deal worth $100,000 works out to $2,000.
|home | site map|
|© 2006 TIGER MEDIA|