First Direct launch new tracker mortgagefirst direct has introduced a new Life Tracker mortgage with a loan to value of 85% at 3.49% above base rate, currently 3.99% (a 75% LTV at 2.89% and 65% LTV at 2.39% are also available.)
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Northern Rock updates its mortgage range
Northern Rock has made some changes to its mortgage range with residential Tracker rates now at 2.79% and residential Fixed rates at 3.75% for customers looking to purchase a home.
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first direct launches new base rate tracker mortgage
first direct has launched a new market leading offset tracker mortgage which tracks the bank of England base rate plus 2.29% for the life of the loan.
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Nationwide passes on rate cut to customers
Following the decision by the Monetary Policy Committee (MPC) to cut the Bank of England Base Rate, Nationwide Building Society has announced that it will decrease its Base Mortgage Rate (BMR) from 3.50% to 3.00% from 1 March 2009.
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Lloyds TSB and Cheltenham & Gloucester will pass on the base rate cut to existing variable and tracker customers, following the decision by the Bank of England to cut base rate by 0.5 per cent.
Halifax has announced it will pass on the full 0.5% interest rate cut announced by the Bank of England to it’s tracker and variable rate mortgage customers.
Nationwide Building Society has announced that it is to cut a selection of it’s fixed and tracker rates by up to 0.30%.
Halifax is to introduce a new ‘Rate Guard’ feature to all of its mainstream tracker mortgage products with effect from 10th September 2008, allowing borrowers to move, with no penalty, to a fixed rate product within 12 months of their mortgage commencing.
House price growth remains stable across most of the UK, although prices in London are increasing and prices in Northern Ireland are falling.
New evidence supports Yorkshire Building Society’s findings that more borrowers are choosing to fix their mortgage for the longer term as economic conditions remain uncertain.
Latest research from Halifax shows the ability of key public sector workers to purchase their own home continues to improve and is approaching the level achieved ten years ago before the house price boom.
Research commissioned by specialist buy-to-let lender Paragon Mortgages, has shown a significant regional shift in the rental yields achieved by landlords.
