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Top related persons:
Lewis Shaw - 2 Liz Truss - 2 Andy Bruce - 2 Andrew Goodwin - 1 Neal Hudson - 1 William Schomberg - 1 Sachin Ravikumar - 1 Rightmove - 1
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Halifax
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Bank of England - 2 Nationwide Building Society - 2 Shaw Financial Services - 2 Thomson - 2 Barclays - 1 NatWest - 1 Virgin - 1 Oxford - 1

Search resuls for: "Shaw Financial Services"


3 mentions found


☆ UK mortgage rates rise again, turning screw on homeowners and buyers
  + stars: | 2023-06-29 | by ( Andy Bruce | ) www.reuters.com   time to read: +2 min
LONDON, June 29 (Reuters) - Major British lenders on Thursday announced another increase in mortgage rates offered via brokers, pushing many products above the 6% mark in painful news for many homeowners and potential buyers. Barclays (BARC.L), NatWest (NWG.L) and Virgin Money (VMUK.L) informed brokers that rates on many mortgage offerings will rise again on Friday, according to emails seen by Reuters. "As mortgage rates continue to rise, the property market is being pushed further towards a cliff edge and there's no real help in sight," mortgage broker Lewis Shaw of Shaw Financial Services said. Two-year swap rates - a key determinant of mortgage borrowing costs - have soared by 0.83 percentage points over the course of June. Mortgage rates of 6% represent the same financial burden from repayments as they did in the late 1980s, even though mortgage rates were around 13% then, according to housing market analyst Neal Hudson, founder of consultancy BuiltPlace.
Persons: Lewis Shaw, Andrew Goodwin, Liz Truss, Neal Hudson, Andy Bruce, William Schomberg, Sachin Ravikumar Organizations: Bank of England, Barclays, NatWest, Virgin, Reuters, Nationwide Building Society, Shaw Financial Services, Oxford, Oxford Economics, Thomson
☆ Major UK lender Halifax pushes up mortgage rates
  + stars: | 2023-06-06 | by ( Andy Bruce | ) www.reuters.com   time to read: +1 min
LONDON, June 6 (Reuters) - Britain's largest mortgage provider Halifax will ramp up interest rates for new home loans on Wednesday, according to pricing provided to brokers, the latest major lender to do so in response to soaring funding costs. The decision by Halifax, part of Lloyds Banking Group (LLOY.L), comes after rivals like Nationwide Building Society announced hefty increases to mortgage rates. Two-year deals rather than five-year deals are currently popular among borrowers who hope that rates will fall again soon. "This latest increase by the biggest mortgage lender in the UK will spook buyers and sellers alike not to mention those due to re-mortgage in the next few months," Lewis Shaw from broker Shaw Financial Services said. Property website Rightmove said on Tuesday this was the first week since January that rates have averaged 5% or more across all LTV brackets.
Persons: Liz Truss, Lewis Shaw, Rightmove, Andy Bruce, Lisa Shumaker Organizations: Bank of England, Halifax, Lloyds Banking Group, Nationwide Building Society, Shaw Financial Services, Thomson Locations: Halifax
☆ Market chaos forces UK lenders to pull mortgage products
  + stars: | 2022-09-26 | by ( Andy Bruce | ) www.reuters.com   time to read: +3 min
Brokers said the moves were likely just the start of a big shift in Britain's mortgage market. The country's largest mortgage lender Halifax said it was withdrawing its fee-paying mortgage products - where borrowers could pay an arrangement fee in exchange for a lower interest rate - and moving to a full fee-free range. "In response, we will be temporarily withdrawing our New Business Product Range with immediate effect." Virgin Money said its withdrawal of mortgage products for new customers would take place at 8 p.m. (1900 GMT). "That will feed into higher mortgage rates and, as always, it'll be the taxpayer left carrying the can," said Lewis Shaw, founder of broker Shaw Financial Services.
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