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Mortgage Lenders Archive
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Top tips for interest only borrowers
This week has seen more research from the Council of Mortgage Lenders (CML) into the FSA’s proposed plans to encourage more responsible mortgage lending. The trade body said that if the FSA’s proposals had been in effect from 2005, “around 3.8million “good” loans would potentially not have been granted”. In total, around half of all 8 million [...] -
Interest only mortgages should stay
In its recent Mortgage Market Review, the Financial Services Authority (FSA) set out a number of proposed rules and checks to ensure responsible mortgage lending and borrowing. The proposed changes target some of the mistakes that were made in the run up to the credit crunch and aim to ensure that in future, banks lend [...] -
SVRs on the up again
SVR hikes have been back in the news again this month. Lloyds TSB (including Cheltenham & Gloucester), whose Standard Variable Rate is currently 2.5%, has, from the 1st June, introduced a new, more expensive variable rate for new borrowers. The new “homeowner variable rate” is now 3.99% and will be paid by all new mortgage [...]
