Demand for fixed rate mortgages at record high

iStock_000009025017_ExtraSmallAccording to recent figures, published by the Council of Mortgage Lenders (CML), demand for fixed rate mortgages has risen to a record high. The CML’s figures reveal 83% of new mortgages, taken out in the first quarter of this year, were on a fixed rate; the highest proportion since records began in 1993. The increase in the number of fixed rate mortgages being taken out is part of an on-going trend. 10 years ago only 19% of new mortgages were of this type, ...

Housing & Mortgage round up: House prices continue to rise, whilst the OFT warns people seeking a quick sale

Housing & mortgage round up_istockphotoA real mix of stories in this week’s housing and mortgage round up, including news that a major bank has been forced to write to over a quarter of a million of borrowers, whilst house prices continue to rise and the OFT issues a warning to people looking to sell their home quickly. Santander told to contact over a quarter of a million borrowers Santander has been told by ...

Housing & mortgage round up: House prices fall, whilst Nationwide pull out of Interest Only mortgages

Housing & mortgage round up: House prices fall, whilst Nationwide pull out of Interest Only mortgagesA busy week for housing and mortgage news. Two house price surveys have shown prices fell during September, with the average price falling though the psychological £160,000 barrier. In other news, the Bank of England kept interest rates on hold, whilst Santander have increased their Standard Variable Rate for existing customers. House prices fell in September...

Housing & mortgage round up: Confusing mortgage and sales data released, whilst Santander anger customers

Housing & mortgage round upNo house prices surveys this week but still plenty of mortgage and housing news for you to catch up on. This week saw yet more confusing data announced, with reports that mortgage lending jumped in July, whilst the number of house sales fell. Santander angered many customers by announcing that they will be following the lead of other mortgage lenders and increasing their Standard Variable Rate, whilst a rise in mortgage fraud has been reported by Experian....