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Good news - Lenders announce rate cutsAbbey and Nationwide have this morning announced a new range of extremely competitive Bank of England base rate tracker mortgages. They will be available to borrowers who have at least a 25% deposit. This is excellent news if you're coming to the end of your mortgage. Market Overview: June 2008After 9 months of uncertainty the fallout from the Northern Rock debacle finally hit the mainstream mortgage market in May. During the early Post Northern Rock months it was those with adverse credit history and mortgage brokers that needed Sub Prime mortgages who felt the squeeze. But mortgage lender’s started to tighten their lending criteria and, one by one, retired from the market. |
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