Mortgages

The Government today launched a scheme that allows some hard-up borrowers to defer mortgage interest payments for up to two years.

Almost one million homeowners have mortgage debt worth more than the value of their home. If you’re affected, you can take steps to limit the damage.

The Bank of England today announced it is holding the base rate at 0.5%. This is the first time in seven months that base rate has remained steady.

Borrowers looking for a mortgage have been urged by brokers to fix their costs for as long as possible.

There are some glimmers of hope for those with smaller deposits looking for a mortgage.

Tesco plans to open 30 bank branches by the end of the year as it seeks to increase its share of the personal finance market.

Housing charities have launched a campaign to protect tenants thrown out of their homes with little warning because their landlord hasn’t paid the mortgage. 

House prices in England and Wales fell between January and February by 2%, according to official figures from the Land Registry.

Mortgage lenders are continuing to cut the cost of fixed rate deals for borrowers. Barclays this week became the latest lender to slash its rates, some of which are down by 0.5% points, following months of Bank of England base rate cuts.

The cost of living froze in February compared to the same period last year, as one of the key measures of inflation fell to zero for the first time in 49 years.