Tag Archives: mortgage deals

Banks, Bonds, Checking & Savings, Financial, Financial Services, ISAs, Mortgage, Personal Finance

Northern Rock Cuts Everyday Mortgage Rates

Northern Rock has improved its Everyday mortgage range, offering lower rates which will make it more affordable for those looking to buy a new property or remortgage their home. The new Everyday fixed rates start from just 3.09%.

Everyday mortgages offer customers simple, straightforward mortgage deals with competitive rates and the ability to make overpayments of up to 10% each year, as well as the option to apply for payment holidays.

The news comes just weeks after it reduced its application fee for purchase customers to just £99.

Until Saturday 23 October 2010, all successful mortgage applicants on any Northern Rock purchase product who complete by 31st January 2011 will be entered into a prize draw with the chance of winning a home ‘makeover’. This prize will include a personal consultation with an interior designer to help them plan the change, and gift vouchers from retailer John Lewis.

Lloyd Cochrane, Head of Mortgage Products at Northern Rock said: “Buying a new house can be very exciting, but making your new house your home can also be expensive. Northern Rock understands this and so, as well as making rate cuts across our Everyday range of mortgages, we are offering one lucky mortgage customer the chance to win a fantastic new home makeover which we hope will help things along a little.”

Northern Rock continues to offer a choice of Fee Saver options across its Everyday and Flexible product ranges for customers who are looking to keep their costs as low as possible. And there is also a competitive range of Buy-to-Let mortgages available.

Northern Rock continues to operate its mortgage product range within the constraints of the competitive measures agreed with the European Commission. Full details of the entire mortgage product range offered by Northern Rock are included for information.

Via EPR Network
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Banks, Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

Go Independent For The Best Mortgage Advice

One of the major advantages of today’s world is that we have choices in nearly everything we buy.

And considering that a mortgage is probably the biggest financial commitment we will ever make, then it’s the one decision that we should have some help with, to ensure that we get the best deal for our individual circumstances. That’s precisely why talking to an Independent Financial Adviser is a good move, according to Stuart Codling of Manchester-based mortgage broker The Mortgage Point.

“We’ve become so used to shopping around before making big purchase decisions, yet when it comes to the major issue of choosing a mortgage, so many people head straight for the bank or building society where they are already a customer,” says Stuart.

“But that’s like buying a car just because you like the colour,” he adds. “It’s a decision which ignores the most important reasons why we should choose one particular product over all the others.”

The Mortgage Point is an authorised Independent Financial Adviser (IFA), which means it can consider the whole of the mortgage market when suggesting the best mortgage deals available for every individual customer.

That means an adviser will take into account such fundamental considerations as the benefits provided, flexibility, and level of charges for every mortgage product available, before making a recommendation based on their knowledge of the market, and each client’s own needs. Meeting with an IFA is even more crucial for those who are looking for first time buyer mortgages as the individual candidate will most likely be on a budget.

Via EPR Network
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Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

Best Buy Mortgages Are Available Under 3% Fixed For 2 Years And Under 5% Fixed For 5 Years

A number of factors have contributed to this. Firstly, it’s widely recognised that we are at or near the bottom of the interest rate cycle. Base rate could only fall by another 0.5% at most and in the May meeting of the Bank of England, base rate was held for the second month in a row. Consumers are looking to secure a fixed rate deal whilst rates are at their lowest. Best Buy Mortgages are available under 3% fixed for 2 years and under 5% fixed for 5 years. These fixed rate mortgage deals compare favourably with historical rates linked to lenders’ standard variable rates (SVR).

Best Buy Mortgages

Secondly there is widespread concern that when rates start to rise, they will rise sharply and so monthly repayments on mortgages linked to Bank of England Base Rate or a lender’s SVR will increase significantly over a short period of time. Securing a good fixed rate deal now will mitigate that risk.

Thirdly there is limited availability of mortgages for those with relatively small deposits (15% of house value or less) and so consumers in this situation are grabbing fixed rate mortgages whilst they still can.

Finally, as house prices have fallen, consumers have found that the value of their mortgage relative to the value of their home has increased. As the best fixed rate mortgage deals are available below 75% loan to value (ltv) it is sensible for consumers to fix their mortgage rate in case their property value falls further and the best mortgage deals are no longer available to them.

Potential borrowers wanting to secure a fixed rate mortgage deal can see the range of leading deals currently available at www.lcplc.co.uk/bestbuys. For more information and no-fee advice, borrowers can call free on 0800 373300 or request a call back.

London and Country Mortgages Ltd is the country’s leading whole of market no-fee mortgage broker and submitted over £4bn of mortgages to over 70 lenders in 2008. For more information visit our website London & Country Mortgages. L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers.

Via EPR Network
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