P544 Teletext 546 Oct23 21:01:11    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP The big names in the mortgage market are finally hitting back hard at the building societies who have made market share gains in recent months. Most of the best-known lenders are now banks, but the remaining lvtuals have had some success in their campaign to differentiate themselves from the plcs. However, the likes of Halifax and Abbey National have revitalised their mortgage ranges in recent months. ——————————————————————————————————1/10— by Mark Meadowcroft finance@teletext.co.uk Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:00:10    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP Building societies, led by the vocal Nationwide, have made much of the fact that their standard variable rates have usually been lower than the banks. Bank standard variable rates currently on offer include Abbey National's 8 65% and, from January, 8.60% for existing Alliance and Leicester customers. This compares with standard variable rates of 8.20% at Nationwide or 8.15% at the much smaller Leeds and Holbeck. ——————————————————————————————————2/10— Tourist rates 548 Premium Bonds 508 INTERESTING SAVINGS p546 Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:02:13    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP Mutually-owned building societies claim they offer better rates to savers and borrowers because they don't have to consider the interests of shareholders. But in a world of fixed, capped and discount mortgages, how relevant is a comparison of old-fashioned standard variable rates? Many of the best deals from the new banks now come in fixed, capped, discount or even flexible formats. ——————————————————————————————————3/10— Borrowing 547 Money news 541 NOW IT'S EVEN EASIER TO FIND LOVE: TELETEXT DATING ITV p390 Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:05:51 Advert PROPERTY PLUS >>                    Looking for the right mortgage or re-mortgage ? You'll need to buy a copy of What Mortgage magazine, the U.K's best selling mortgage magazine. Available from W.H.Smith, Menzies and leading newsagents every m4/10.      Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:00:01    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP Cheltenham and Gloucester, the former building society now owned by Lloyds TSB, is one of the biggest of all mortgage lenders in the UK. Its Director of Communications, Peter Mounty, says widely differing standard variable rates are a new development: "You used to get a lot of similarity in standard variable rates, until recently some of the mutuals moved away to differentiate themselves," he says. ——————————————————————————————————5/10— Advice clinic 543 Holiday £ 548 INTERESTING SAVINGS p546 Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:03:00    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP Peter Mounty of mortgage lender Cheltenham and Gloucester says: "In the current climate, the majority of all business is fixed or capped rate." And he says that the standard variable rate l—y not always reflect the amount the borrower pays every month. "A mortgage l—y have a higher standard variable rate but lower repaylents," he says, citing add-ons like compulsory insurances as inflating factors. ——————————————————————————————————6/10— Advice clinic 543 Borrowing 547 CITY NEWS p500 Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:00:00    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP But while mutuals also offer fixed, capped and other mortgage formats, Pam O'Keefe of the Building Societies Association l—hntains that the standard variable rate is a good comparison: "Over the life of a mortgage, most people are still paying standard variable rate for part of the loan." And she adds that "mutuals are in general reducing interest rates more quickly than the banks." ——————————————————————————————————7/10— Mortgages 545 Savings 546 SWITCH TO p628 AND YOU COULD SAVE ON YOUR MORTGAGE Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:00:00    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP Some economists say interest rates will now fall fast and far, prompting Pam O'Keefe of the Building Societies Association to ask: "Should xou take a fixed rate mortgage at the moment?" And she believes building societies can take much of the credit for the new deals on offer from the banks: "They are increasing competition in the marketplace and banks are having to react to the mutuals." ——————————————————————————————————8/10— Advice clinic 543 Money news 541 BUSINESS BRIEFING ON OUR WEB SITE GO TO: www.teletext.co.uk Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:01:01    ————————— ———————  ———————————— THE MORTGAGE BATTLE HOTS UP The one thing that both sides of the banks and building societies debate can agree on is that it's a good time to take out a mortgage. Homeowners in their 20s are genuinely amazed that just a few years ago, the building societies that dominated the market operated a strict cartel. Now, the benefits of looking beyond the big names or the local building society can be very large. ——————————————————————————————————9/10— Saving cash? 546 Borrowing cash? 547 CITY NEWS p500 Mortgages Savings Borrowing City
P544 Teletext 546 Oct23 21:01:00 Advert Property Plus >> TODAY'S UPDATE  PRUDENTIAL HOME INSURANCE       '£80 - that's the average saving new customers made when they switched to Prudential. Ring us today and you could save even more.' -THE MAN FROM THE PRU.  CAN YOU REALLY AFFORD NOT TO CALL?    FOR FUTHER DETAILS SEE ITV p372 Mortgages Savings Borrowing City