The Chancellor of the Exchequer, Alistair Darling, is still pushing for lenders to introduce long term fixed rate mortgages in light of the current crisis, where many consumers are facing crippling mortgage repayments once their existing cheap fixed rate comes to an end. The chancellor has been pushing for this type of mortgage for some time, and in his recent first budget he addressed the issue, urging lenders to introduce more affordability and accessibility when it comes to longer term fixed rate deals. Read the rest of this entry »
Popularity: 62% [?]
Officials from the Bank of England have stated that the level of new mortgage approvals in the UK dipped in December, and that this was the seventh month in a row where mortgage approval levels had fallen. In November 2007 there were around 81,000 new mortgage approvals according to recent figures, and this fell to 73,000 in December 2007. Read the rest of this entry »
Popularity: 75% [?]
Over the past year and a half consumers that have been on variable rate mortgages have had to deal with the effects of a series of five interest rate rises, which has resulted in soaring monthly mortgage repayments for many homeowners. Those that took out cheap fixed rate mortgage two or three years ago have managed to avoid the pitfalls of these interest rate rises. Read the rest of this entry »
Popularity: 59% [?]