Avoid the bank for the best mortgage deal - Published:06/11/07
Homeowners hunting for the most excellent mortgage deals have been warned to keep away from the bank after research revealed 70% of top deals come from building societieslarge NAMES: Homeowners hunting for the best mortgage deal should attempt building societies before banksThe Evening normal tries to draw a clearer picture of the UK property market: > Are house prices fallingLenders have been prearranged to repay unjust fees We have a full list of money owed >> get back mortgage feesGet an idea of some of the best mortgage interest rates on the market with our tables >> Mortgage ratesA survey of the whole mortgage market carried out by financial information specialist Moneyfacts has exposed the large names are failing to deliver on homeloansIt said just 30% of the most excellent 250 fixed, discounted and variable rate mortgages were offered by banks and the top ten mortgage lenders have now 27 – a mere 11%Julia Harris, mortgage expert at Moneyfacts, supposed: 'It is shocking to see that so few of the top priced mortgage deals are offered by the largest mortgage lenders'The regal Bank of Scotland Group under the brands of First Active and Direct Line lead the way, contribution a meagre six out of the top 250 deals, and very insufficiently the largest lender the HBOS group, parent of Halifax, did not come into view at all'For the bulk of borrowers, the deals from building societies and smaller lenders are winning hands down'creation one of your biggest monetary decisions should not be based upon brand or the perceived expediency of your existing lender It should be about finding the most spirited and suitable deal'Take the time to supermarket around, and don't assume that bigger means better In fact when choosing a mortgage fairly the opposite is true, both with structure societies dominating the field and the lack of large lenders appearing in the top 250 crop'The gap between building societies' deals and banks' offers can go away homeowners paying substantially more for their mortgagesCheshire Building Society's two-year set rate mortgage at 549% is one of Moneyfacts' most excellent buys and comes at up to 95% loan-to-value with a £999 charge Britain's biggest mortgage lender Halifax can beat this with its 529% two-year fasten, but this comes with a 3% of loan fee and is only available for loans above £150,000The Halifax contract will shave £18 per month off the repayments for someone with a £150,000 mortgage over 25 years - saving £432 over two years - but they would end up paying a charge of £4,500 rather than the £999 Cheshire feeThis would leave the borrower £3,069 not as good as off over the length of their initial two-year contract periodMeanwhile, even if a borrower opted for Halifax's 559% two-year fix with a 2% of loan fee, they would finish up paying £3,000 worth of cost for a higher rateThe good news for those hunting for a homeloan is that after a turbulent six months the mortgage market is starting to resolve down, encouraging lenders to keep rates on offer for longer and introduce novel dealsKatie Tucker of mortgage brokers John Charcol said: 'This rate constancy has allowed lenders to slow down their frantic speed withdrawals and replacements, with more of them now offering a good selection of set rates for two, five and ten yearsProperty sceptics are predicting a serious slump in the housing market, but will there be a crash'The good news is that many of these are available with remortgage freebies' One of the remortgage deals optional by Charcol is Nationwide's 588% two-year fix with a £999 chargeThis has flexible skin such as overpayments, underpayments and borrow back, along with free assessment and legal workThe broker also recommends Saffron Building Society's two-year reduction rate at 519%, this has a potentially big 15% of loan arrangement fee but allows unlimited overpayments and has no early salvation charges at any timeSelect a loan term 12 months (1 day 24 months (2 existence 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 existence 108 months (9 existence 120 months (10 years)Please select a type of cover Life cover Home and contents Car Breakdown services physical condition - medical physical condition.
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Nationwide home insurance 'could cover kids at uni' - Published:17/09/07
Parents whose children are heading to institution of higher education in the coming weeks could benefit from checking whether their goods are enclosed under the household insurance policy, Nationwide has supposedToday's students are arriving at their digs with increasingly expensive possessions, such as iPods, laptops and movable phones, which can be expensive to insureThese, added to the cost of instruction fees, books and rent, create it more important than ever that parents check whether their house insurance covers their child against loss, damage and burglary, Nationwide's cover director Robin Bailey claimed"Student policies can be expensive but if cover is provided under their own policy parents can make sure their child's possessions are secluded while in their student somewhere to live without extra cost," he continuedLast week, Direct Line Home cover warned students to ensure that.
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Direct Line Home Insurance warns student cyclists - Published:13/09/07
Direct Line Home cover has advised students to ensure that their bicycles are insured before title off to campusThe insurer claims that, on standard, 106 bicycles are stolen from students every day in the UK, at an average price of £160 a timenot as good as still for the owners, only 32 per cent of stolen bikes are covered by an cover policyAndrew Lowe, Direct Line's head of home cover recommended that, at the least, students should invest in a high-quality quality lock for their bikeHe urged: "With so many students at risk of having their bike stolen, we would powerfully advise them to either take out their own insurance or check to see if their parents' policy covers them"The recommendation follows last month's recommendation from Direct Line that people who have bought expensive substance should make sure they have their home contents.
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Direct Line Home Insurance Warns Student Cyclists >>
