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FACTBOX-UK lenders' response to interest rate cut - ReutersDec 5 (Reuters) - British Prime Minister Gordon Brown urged banks to pass on Thursday's 1 percentage point rate cut by the Bank of England to help homeowners [ID:nL5470448]. The following is a round-up of some of the actions of banks and building ...
UPDATE 2-Britain's Brown urges banks to pass on rate cut - ReutersLONDON, Dec 5 (Reuters) - British Prime Minister Gordon Brown urged banks to pass on the Bank of England's (BoE) latest interest rate cut to help homeowners hit by the worst economic turmoil in decades. Brown said on Friday he would talk to Britain's ...
Britain's Brown urges banks to pass on rate cut - Guardian UnlimitedLONDON, Dec 5 (Reuters) - British Prime Minister Gordon Brown urged banks to pass on the Bank of England's (BoE) latest interest rate cut to help homeowners hit by the worst economic turmoil in decades. Brown said on Friday he would talk to Britain's ...
Mortgage approvals down 64% - MyFinances.co.ukUsing Mortgage Finder to find the best mortgage and remortgage deals could save you thousands of pounds. Find the right cheap mortgage or cheapest remortgage. Mortgage approvals have dropped 63.6 per cent in the last year, according to new figures ...
Mortgage approvals still falling - BBC BusinessIn June 2007 approvals stood at 115,000, and by October last year were already sliding, hitting 88,000 that month and falling much further since then. For the past four months they have hovered between 32,000 and 33,00 each month, suggesting that ...
Mortgage approvals back at record low - Guardian UnlimitedThe number of mortgages approved for house purchases fell back to a record low in October, despite a fall in interest rates at the start of the month, figures showed today. Lenders approved 32,000 home loans for buyers during the month, the same ...
Brown will press banks to pass on full rate cut - Times OnlineGordon Brown issued a stark warning to banks today, demanding that lenders must pass on yesterday's full 1 per cent interest rate cut to their customers. The Bank of England yesterday cut the interest rate to 2 per cent — the lowest level since ...
EDITOR'S PICK - MarketwatchHigh inventory is killing home builders; industry asks for help The liquidity trap Hong Kong stocks higher; BHP, MUFG suffer falls Chris Matthews, please run for U.S. Senate Labor market got uglier in November, economists say Microsoft names former ...
RBA's Glenn Stevens may surprise with 150-point cut - The AustralianI'VE tipped the Reserve Bank to cut its official cash rate by a full one percentage point to 4.25 per cent today. That would equal the lowest cash rate – since just after the September 11 attacks in 2001 - in the modern era of inflation targeting ...
Building Societies' lending remains low as housing market remains ... - Politics.co.ukNet mortgage lending by building societies was £413 million in October, an improvement compared to £314 million in September, but still 45% lower than the figure for October last year. Gross mortgage lending by building societies was £3.2 billion ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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