Remortgage market remains subdued
Latest analysis from Lloyds TSB reports that borrowers may no longer be better off staying on standard variable rates (SVRs).
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Stronger house purchase lending with weak remortgage lending in Wales
The number of loans for house purchase in Wales increased in the third quarter showing a similar trend to the UK as a whole, according to new figures released by the Council of Mortgage Lenders in Wales.
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House purchase lending rises in third quarter
House purchase lending in the third quarter showed a 13% rise while monthly lending has not followed an even path during the quarter, the Council of Mortgage Lenders reports.
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New 60% fixed rate products launched by the Chelsea
House buyers with larger deposits and existing home owners looking to remortgage can benefit from a new market-leading five-year fixed rate product at 2.94% from Chelsea Building Society.
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A new 2 year 2.44% remortgage product has been made available directly from Halifax.
Despite an ever-narrowing gap between monthly payments for fixed rate mortgages and standard variable rate (SVR) mortgages, borrowers are resolutely staying on SVRs according to latest Halifax research.
John Charcol, the UK’s leading independent mortgage adviser, has revealed that there are signs of new life in the remortgage market, with the proportion of their clients remortgaging having increased from 32.1% in May to 39.2% by July.
Strengthening its support to the housing market, Halifax has announced the removal of upfront fees on a range of 2-year fixed rate remortgage products.
