View more on these topics

Half of homeowners go straight to own bank to get a mortgage

Around 52 per cent of homeowners said they went directly to their bank to obtain their mortgage, a survey from shows.

In a survey of 1,682 homeowners, 87 per cent said they did not look elsewhere for other rates or deals. When asked why they went straight to their bank for their mortgage, 61 per cent of those surveyed said it was “easy” to do.

Around 23 per cent of those taking part said their mortgage was through a bank they did not bank with while 14 per cent had opted for a building society.

Some 59 per cent claimed to have “no idea” if they were getting the best rate for the mortgage while 34 per cent felt they had “thoroughly researched” different options in order to get the best rate.

When asked if they felt they understood mortgages fully, 42 per cent admitted they did not. chairman Mark Pearson says: “Mortgages can be very confusing. With terms being thrown at you like ‘tracker’ and ‘fixed rate’, it is easy for things to seem complicated and I can see why many people want the easiest option of going to their bank and getting them to sort everything.”


MS leader: Shaky market for lending

The Financial Services Authority’s latest mortgage lending statistics for Q2 2012 were out last week and while they were hardly positive, it seems that in the current market, static gross lending is about the best we’re going to get.


Second chance

Lenders and the Government must do more to help second steppers stuck on the first rung of the property ladder because without their help, first-time buyer movement will come to a virtual standstill

Sesame Bankhall launches online mortgage processing service

Sesame Bankhall Group has launched an online mortgage processing service for advisors in partnership with Melton Mowbray Building Society. The service processes mortgage applications on behalf of lenders and helps advisers place more complex cases with specialist lenders. The Sesame Bankhall Specialist Lending Services offers exclusive access to the major lenders occupying the near-prime to […]

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


News and expert analysis straight to your inbox

Sign up