Financial News

• Brown dismisses housing crisis fears (09 04 2008 10:15)
• Mortgage hope offered by bank (09 04 2008 10:15)
• Consumer morale 'falls again' (09 04 2008 10:15)
• Bristol & West withdraws deals (09 04 2008 10:15)
• Retirees feel 'unhappy due to no longer working' (09 04 2008 10:15)
• Severn Trent to be fined £36m (08 04 2008 04:15)
• Brown to announce first time buyers help (08 04 2008 04:15)
• UK bank details 'for sale by thieves' (08 04 2008 04:15)
• Last 100% mortgage to disappear (08 04 2008 04:15)
• High earners 'shut out of market' (08 04 2008 04:15)

Subscribe!

Nationwide comments on Darling's 25 year loans call

Alistair Darling's call for extra fixed rate home loans to be made available has been welcomed by lender Nationwide.

The 25-year fixes should target those on low incomes who would have difficulty in securing a home loan under current market conditions, the chancellor added in his Budget statement.

Director of mortgages at the loans lender Matthew Carter said: "We know that a 25 year deal may not appeal to everyone but at the moment it is something our members want us to offer.

"Some customers want the security and peace of mind of a 25 year fixed rate mortgage, knowing that they will be unaffected by fluctuations in rates."

Across the UK, the cost of the average property now approaches £200,000 - around ten times the average wage.

This makes homes unaffordable for many, especially if they have a poor credit record and cannot gain access to the best loans rates on the high street.

Send this article to: