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Rooker speaks out in favour of flexibility

Housing minister Lord Rooker has declared that the government will do what it can “to push the idea of flexible mortgages”.

Speaking last month at Prime Minister&#39s Questions, Lord Rooker pointed out that flexible mortgages represent a rapidly growing share of mortgages in certain sectors of the market, particularly among those in the A-B economic class and those who have owned more than one property in the past.

He told the House: “People now know that mortgage flexibility can be used to avoid possible repossession. Interest rates are a lot lower and there is a great deal more flexibility to pay more in good times and less in bad times. That evens out the situation, making it less likely that the threat of repossession will return to this country.”


New legislation for mortgage regulation published

New regulation for mortgage advice was published has been published by HM Treasury. The regulations are the outcome of extensive consultation earlier this year. Ruth Kelly, Financial Secretary to the Treasury, says: &#34Buying a mortgage is the biggest financial decision most people will ever make. It is vital that people make the right choice – […]

MPC keeps rates unchanged

The Monetary Policy Committee (MPC), kept rates unchanged before going off on its Augustholidays, because it is generally thought that the house price boom has not come to an end. It was believed that due to the unusual circumstances in June, such as the World Cup and theJubilee Celebrations, the weak retail sales figures could […]

Mortage Express&#39 100% football to kick off soon

As the football season approaches, Mortgage Express is giving footy fans another good reason to celebrate by relaunching its football prediction game.Previously known as Fax Football, the new online version, 100% football, offers players the chance to put their football knowledge and prediction skills to the test.Competitors have to register themselves as a manager (either […]

Right-to-buy will stay says government

The government has denied reports it is preparing to cancel the right-to-buy scheme for local authority tenants.John Prescott, deputy Prime Minister, has complained that discounts of up to £38,000 on purchase prices lose the Treasury money. Transfer of housing stock to the private sector also threatens targets for affordable key-worker housing.Labour is concerned about right-to-buy […]


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