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Chelsea launches non-conforming range
Chelsea Building Society has launched a new range of non-conforming mortgages available from 13 April 2005. The range includes a two-year fixed rate, discount and right-to-buy mortgage.
All existing Prospect mortgages are withdrawn. Tom Gurrie, intermediary sales controller at the Chelsea, said: “We hope to get back to the forefront of this market.”
FTBs drive harder bargains
The price that first-time buyers are willing to pay to get their feet on the property ladder is coming down. The average price being searched against on Moneyextra by first-time buyers in March 2005 was £145,4651, the lowest level since September 2004 but still well above the new stamp duty threshold of £120,000.
At the same time, the average mortgage being searched on Moneyextra’s website comparison tool by first-time buyers fell back in March to £125,488, down by 2.4 per cent on February’s £128,522.
Business owners confident of economic prospects
Four out of ten business owners in the UK (40 per cent) feel more confident about the economic prospects in the next three months, compared to the previous three months, according to the latest research from Alliance & Leicester Commercial Bank.
The research also found that nearly half of all businesses (49 per cent) expect economic prospects to remain the same over the next quarter, while just over one in ten (11 per cent) businesses say they are less confident about the future.
