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Today's Mortgage Terms starting with G

Good Faith Estimate:

A written estimate of the closing costs the borrower will most likely have to pay based on common local practices. Under the Real Estate Settlement Procedures Act (RESPA), the lender is must provide this disclosure to the borrower within three days of receiving a loan application.

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Cheshire mortgage rates news:
Financial News
Pre-Budget Report: Alistair Darling's £1 trillion debt gamble - Times Online
Alistair Darling stored up big tax rises for the better-paid and huge curbs in public spending yesterday with a £1 trillion debt gamble to defeat the recession. In a Robin Hood-style budget statement of breathtaking scope, the Chancellor asked 800 ...

HBOS - Lloyds TSB merger likely to push up mortgage rates - Daily Telegraph
The merger will create Britain's biggest mortgage company, supplying more than one in four mortgages in Britain. Mortgage experts said the creation of such a big player would be bad for competition in the market, causing rates to increase. Louise ...

Nationwide profits dive on 17% mortgage drop - Times Online
Nationwide's mortgage lending to homebuyers slid almost 17 per cent to £10.9 billion during the six months to the end of September as the UK's biggest building society felt the effects of the tumbling housing market. The building society's gross ...

Barclays customers wait almost a year to benefit from rate cut - Times Online
Half a million homeowners with tracker mortgages will have to wait nearly a year to benefit from the fall in the base rate. Around 500,000 Barclays customers on tracker deals will have to wait until next October to benefit from the Bank of England's ...

Banks crumble under pressure to pass on rate cut - Times Online
British banks are beginning to crumble under pressure from the Government to pass on yesterday's surprise 1.5 per cent interest rate cut to customers, with Nationwide and Royal Bank of Scotland (RBS) and HBOS the latest to announce new mortgage rates ...

Now lenders must do their bit - Times Online
The phoney war is over. After weeks of hints, tips and suggestive talk, the Bank of England has finally taken a scythe to the cost of borrowing - and not a moment too soon. It has become increasingly clear that interest rates need to come down by a ...

Building societies set to merge - BBC News
Skipton Building Society has agreed to merge with the smaller Scarborough Building Society as the mutual sector continues to shrink. The deal should be completed early in 2009 after the Scarborough approached the Skipton, having suffered from ...

Timeline: Global credit crunch - BBC News
Most analysts link the current credit crisis to the sub-prime mortgage business, in which US banks give high-risk loans to people with poor credit histories. These and other loans, bonds or assets are bundled into portfolios - or Collateralised Debt ...

Skipton and Scarborough building societies to merge - Guardian Unlimited
A statement from the two societies said the board of the Scarborough had considered the possible impacts of continuing house price falls and the impending recession in the UK and "concluded that the effect would be an unacceptable reduction in its ...

Yorkshire and Barnsley building societies set to merge - The Independent
Trouble to last for months - but rebound coming, says Paulson Value of pound hits five-year low against dollar UK recession likely, says Bank of England DIY chain value slashed by £540m Hamish McRae: America must live within its means Jeremy Warner ...

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