N&P have reduced SVR by 0.15% to 4.85%.
Scottish Building Society:
Have reduced their SVR by 0.20% to 5.04%
Have introduced a new 5 year fixed rate
Astra:
Minimum floor rates increased from 1% to 3% on all discount products
Introducted a new SVR product with redemption penalties and a reservation fee
Reduced SVR by 0.15% to 4.85%
Abbey:
SVR reduced by 0.45% to 4.24%
All product end dates and completion deadlines rolled over by one month
75% 5 year fixed purchase product reduced by 0.10% and a fee of £299 introduced
Cheshire Mortgage Corporation has made various criteria changes which include the following:
Income Calculation & Criteria revised
Minimum employment period revised
Board and Lodgings – no longer accepted
Property Types revised
Income Proof revised
Maximum Age revised
New Proof of Residency Requirements
Explanations required for all arrears, CCJs and defaults
Address history requirements revised
Valuation requirements revised
Northern Rock::
Selected 2 Year Fixed rates reduced by 0.10%
2 Year fixed rate exclusive with £1,995 fee reduced by 0.10%
L&G exclusive 3 year 65% LTV product reduced by 0.10%
Alliance and Leicester:
Launched a new 5 year fixed rate at 5.79%
Marsden:
Fixed and tracker rates have increased by average of 0.10%
End dates changed on most products
National Counties Building Society:
Will no longer lend on an interest only basis without a suitable repayment vehicle
Woolwich:
Launched new Homebuyers Direct products. These are shared ownership/shared equity government schemes that have a max LTV of 70% but where the customer can borrow 90% of their share. Products are available through intermediaries.