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News about Mortgages:
Not all mortgage holders to benefit from cuts, say banks - HeraldHomeowners will be studying their small print like never before after banks declared yesterday that only certain mortgage customers would benefit from cuts in the interest rate. The Bank of England's decision to reduce the base rate from 3% to 2%, a ...
Dial M for money as 999 staff win £1.1m - Glasgow Evening TimesSEVENTEEN BT call handlers are celebrating today after winning £1.1million in the National Lottery. The syndicate of Glasgow-based workers will each pocket £64,343. Their numbers came up shortly after BT bosses announced plans to scrap 10,000 jobs ...
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 ...
What would $700 billion buy? - Glasgow Daily TimesThe calculator on the computer calculates in exponents when the number being worked climbs above $999 million. Saying that to reporter Lisa Simpson Strange prompted, “Maybe that’s the problem,” from her. The problem was exactly what this column ...
PROPERTY TRANSFERS: Nov. 17- 22, 2008 - Glasgow Daily TimesAubrey H. Carver, Aubrey Wayne Carver and Mae Dean Carver, 11.17 acres on Capitol Hill Road, to Aubrey Wayne Carver and Mae Dean Carver. David and Diana Saylor, 2 tracts on Bluff Springs Road, to Donny D. Wright, $76. Carla W. Allen, Master ...
Axe Home Reports before they kill the market stone dead, plead critics - ScotsmanCRITICS were still calling for the controversial Home Reports system to be scrapped just 48 hours before its introduction. Home Reports, which come into force on Monday, are supposed to simplify the business of buying and selling a house. But some ...
Scottish retailer folds with loss of 817 jobs - The IndependentThe retail sector took another battering yesterday as the Glasgow-based group Bowie Castlebank called in the administrators and cut 817 jobs. Another 847 staff are facing an uncertain future after Bowie, the Scottish retail group behind Klick ...
Controversy has dogged the Speaker from the beginning - Daily TelegraphNovember 2000: sparked controversy by dispensing with the Speaker's traditional attire of wig and tights. October 2001: Charlotte Every, his diary secretary, left because the Speaker, dubbed "Gorbals Mick" because of his Glaswegian background ...
Lenders told to treat mortgage holders fairly or face action - HeraldMortgage lenders were warned by regulators yesterday they must take "urgent" steps to ensure fair treatment of customers in arrears. Lenders may face disciplinary action if they do not comply with new rules by a January 31 deadline, the Financial ...
Business is slow, even at the foreclosure auction - Austin American-StatesmanStill, about 100 people stood in a cold wind outside the Travis County courthouse on Tuesday morning to look for good deals amid scores of homes being auctioned because their owners could not keep up with the mortgage payments. With a pocket full of ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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