UK: HOME LOANS UP BY 22% IN MARCH
Article Abstract:
The monthly survey carried out by the Council of Mortgage Lenders and the DETR revealed that gross lending rose 22% in March, up GBu11.3bn from GBu9.3bn in February and higher than the GBu10.8bn of March 2000. House purchase loans accounted for GBu7.2bn, against GBu5.3bn in February and GBu7.3bn a year ago, while remortgaging figures fell from GBu3.4bn in February to GBu3.3bn in March, which was 29% of all mortgages for the month, compared with 37% of mortgages for each of the previous two months. Average new mortgage rates for the month were 5.82%, average variable rate 5.72% and average fixed rate 6.02%.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: PLATFORM HOME LOANS LAUNCHES NEW INTEREST RATES
Article Abstract:
Platform Home Loans has introduced lower capped and fixed interest rates on all remortgage and purchase loans, with the criteria for non-conforming borrowers also expanded. The rates stand at 7.49% for remortgages or purchases for a new GBu 35,000 minimum loan or up to 95% of house value, and 7.25% for a new GBu 75,000 minimum loan or up to 80% of house value. The rates apply until 2 July 2002. The 7.25% rate is a market leader, while the 7.49% rate offers great value, claims the firm. The deal is particularly suitable for non-conforming borrowers, claims a financial adviser.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: YORKSHIRE BS TO DISREGARD OTHER LOANS
Article Abstract:
Yorkshire Building Society will be able to boost the amount it can lend mortgage applicants as a result of a new policy of not taking account of applicants' other loan commitments when assessing their income. Some brokers believe that this will lead to many borrowers taking on excessive financial obligations. However, Mortgageforce managing director Rob Clifford regards the move as innovative and positive.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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