Occasionally Mortgage Shop's comments are featured in the press, here you will find some examples of news stories that we have appeared in from The Standard Newspaper
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Mortgage brokers were baffled today by a series of price moves in both directions, including two of the UK’s ‘big six’ lenders raising some rates at the same time they lowered others. Santander and Coventry Building Society cut the interest rates on a number of fixed-rate products, while Accord increased its own rates. That may be a sign that lenders may have differing views of the future outlook for the Bank of England’s own interest rates. Experts Discuss: https://www.standard.co.uk/business/mortgage-lenders-interest-rates-borrowing-home-loan-property-house-bank-of-england-prices-b1147810.html
The ‘big six’ lenders joined the ongoing rate war, following a number of others such as Halifax and HSBC in reducing mortgage prices this year. Financial Advisers discuss this UK mortage lender battle: https://www.standard.co.uk/business/mortgage-interest-rates-prices-bank-of-england-house-property-home-loan-borrowing-barclays-santander-lenders-b1131165.html
HSBC among the lenders lifting the cost of home loans the day after it reported record annual profit. House hunters and mortgage brokers have reacted angrily to news that a string of big-name lenders are hiking the cost of home loans, even with Bank of England base rates expected to fall later this year. The moves from the likes of HSBC, Santander and TSB have been described as a “handbrake turn” and “March madness” for hard-hit consumers, already struggling with the cost-of-living crisis and an economy that has tipped into recession. Experts discuss: https://www.standard.co.uk/business/mortgage-rate-rises-branded-march-madness-by-brokers-as-banks-hike-home-loan-costs-b1140877.html
Brokers today said the country’s largest building society Nationwide now appears to be an outlier in the mortgage rate price war as a number of its rivals cut rates again. Nationwide has reduced the prices of its mortgages eleven times in the last fourth months, but has held firm in recent weeks as rivals began the year with what many commentators called a “price war”. All five of the other “big six” lenders - HSBC, Santander, NatWest, Barclays and Halifax owner Lloyds Banking Group - have cut rates this year. Read experts opinions: https://www.standard.co.uk/business/nationwide-mortgage-prices-interest-rates-houses-homes-property-loan-bank-of-england-borrowing-b1132707.html
The number of mortgage approvals being made to home-buyers bounced upwards in March, according to Bank of England figures. The Bank’s Money and Credit report said mortgage approvals for house purchases “rose significantly”, to 52,000 in March from 44,100 in February. Read what the experts say. https://www.standard.co.uk/business/money/spring-bounce-as-homebuyer-mortgage-approvals-rise-in-march-b1078755.html
The UK’s biggest mutually owned mortgage provider has become the latest lender to charge more for home loans. Nationwide warned mortgage brokers today that the interest rates on much of its products would rise tomorrow. The move will take the cost of a five-year fixed rate mortgage on 95% of the value of a home to 5.24%. For first-time buyers also looking to borrow 95% of their home’s value, rates will hit 5.1%. https://www.standard.co.uk/business/nationwide-mortgage-rate-hike-budget-jeremy-hunt-chancellor-bank-of-england-b1141825.html