Svr
Savills Private Finance (SPF) has revealed that over half (53%) of its clients believe that a Conservative Government in power would have no effect on house prices and mortgage availability.
The Bank of England has voted to hold the base rate at 0.5% for the twelfth month in a row.
The Bank of England has maintained interest rates at 0.5%, meaning the base rate has now been held for a year.
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London-based Leon Kaye Solicitors is investigating the legality of the clause in Skipton Building Society’s mortgage contract which allowed the lender to hike its SVR to 4.95%.
Moneysupermarket has urged borrowers on standard variable rate (SVR) deals to consider changing to another deal.
Last week’s Mortgage Solutions poll revealed that 55% of brokers don’t think the FSA’s arrears proposals will have a cost implication for their business.
Borrowers on standard variable rate (SVRs) deals should switch as other lenders are expected to increase their SVR rates, according to Moneysupermarket.
Remortgaging activity could be set to rise, with increasing standard variable rates (SVRs), cheaper rates and fears of increases all putting pressure on borrowers to consider changing their homeloan.
The Mortgage Alliance (TMA) will offer the semi-exclusive two-year fixed rate homebuyer plus deal from Abbey for Intermediaries (AfI).
Last week’s Mortgage Solutions poll revealed that 93% of those surveyed expect further rate hikes from lenders in the near future.
The latest Mortgage Solutions poll has revealed that 70% of respondents believe fear of new entrants and increased competition is behind the recent spate of rate cuts by lenders.
Analysis by Moneysupermarket has revealed more products are now available to mortgage borrowers with lower deposits.
Many lenders have increased the interest rate on standard variable rates (SVR) despite the base rate sitting at an all-time low of 0.5%, according to Moneyfacts.
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