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Interest rate cuts `were not anticipated by consumers` Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal

Shop around for mortgage loan deals

18/08/2008

Consumers worried about debt problems may want to explore the range of new and revised mortgage options revealed recently.

Skipton Building Society has unveiled its new Stepped Fixed Rate mortgages, which come with two choices. Stepping Up begins with a rate of 5.39 per cent, climbing annually to 6.99 per cent over five years, which may suit people with lower incomes now but who expect to earn more in the future. Stepping Down offers the same rate in reverse.

There are also new products from Newcastle Building Society, offering "something for everyone", according to head of product development Stuart Fearn. He added that those looking at remortgaging options may find a deal to suit them.

Meanwhile, Cheshire Building Society has cut rates on some short-term fixed-rate mortgages, its two-year fixed rate remortgage deal and buy-to-let mortgage.

Longer-term fixed-rate mortgages may also have their rates reduced, indicated James Taylor, mortgage product manager.

"We believe they will offer great value and be in greater demand than previously," he said.

Those looking at loan options may also want to look at consolidation loans to manage their debts.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according