Nationwide helps first-time buyers with a record low 2.54% rate

But the mortgage is part of the government’s Help to Buy scheme which is new-build only, sparking fears it will fuel another housing market bubbleNationwide building society has launched the lowest-ever mortgage rate for first-time buyers, offering a rate of just 2.54% fixed for two years, available to borrowers with a deposit of just 5%.But […]
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City regulator warns homeowners over interest-only mortgages

Research finding that 1.3m homeowners may not be able to pay off their interest-only mortgage raises fears of repossessionAlmost half of all people with “interest-only” mortgages – about 1.3 million homeowners – may not have enough money to pay off their home loan when it matures and face an average shortfall of more than £71,000, […]
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Interest-only mortgages are storing up trouble, warns City regulator

Research finding that 1.3m homeowners may not be able to pay off their interest-only mortgage raises fears of repossessionAlmost half of all people with “interest-only” mortgages – about 1.3 million homeowners – may not have enough money to pay off their home loan when it matures and face an average shortfall of more than £71,000, […]
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Homebuyers turn to five-year fixed-rate mortgages

The number of five-year fixes has increased 73% in the past year as two-year deals lose popularity with mortgage borrowersWould you fix your mortgage for five years, seven or even 10? A few years ago the vast majority of people would have said no, opting instead for a cheaper, shorter-term two-year deal. But the tide […]
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HSBC launches first sub-2.5% five-year fixed mortgage

Loan follows Yorkshire’s 10-year mortgage and comes as part of wider push by lenders towards lower-rate, longer-term dealsA five-year fixed-rate mortgage with an interest rate of under 2.5% is available for the first time ever as rates on new home loans continue to tumble.HSBC has launched a five-year home loan with an interest rate of […]
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Santander mortgage customers to share million-pound compensation pot

About 30,000 people on certain fixed or tracker deals may have lost out due to a paperwork error in 2008 regarding mortgage ratesUp to 30,000 Santander mortgage customers are set to share millions of pounds in compensation after it emerged they may have lost out because of confusing letters sent by the bank more than […]
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Three-quarters of older homeowners have interest-only mortgages

In extreme cases borrowers aged over 60 may have to make repayments until they die, warns ratings agency Moody’sThree-quarters of all mortgage borrowers aged over 60 have risky interest-only loans, according to a report that raises the prospect that some who struggle to repay their debt could end up having to keep making payments until […]
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Funding for lending scheme punishes savers while it aids borrowers

Since last August, when the FLS came into operation, the average interest paid on a cash Isa has fallen from 2.5% to 1.8%Savers are paying a high price for Funding for Lending, which has significantly cut mortgage costs for home buyers, but dramatically pushed down interest rates on deposit accounts and Isas to record lows.Since […]
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Funding for lending scheme punishes savers while it aids borrowers

Since last August, when the FLS came into operation, the average interest paid on a cash Isa has fallen from 2.5% to 1.8%Savers are paying a high price for Funding for Lending, which has significantly cut mortgage costs for home buyers, but dramatically pushed down interest rates on deposit accounts and Isas to record lows.Since […]
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