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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

September `the most popular month for policy renewals`

03/09/2007

More than £2 billion is to be spent on mortgage and annual policy renewals throughout the month of September, new research claims.

Homeowners are expected to spend over half a million hours during the month shopping around for the correct mortgage deal, as September proves to be the most popular month for renewing mortgages, a report by Abbey shows.

The research also shows that September is a popular month for a whole host of annual policy renewals, with 3.2 million people planning to renew their road tax and 2.9 million renewing their car insurance, taking total spending on policy renewals this month to an estimated £2.1 billion.

Nici Audhlam-Gardiner, head of mortgages at Abbey, said: "Remortgaging might be a time-consuming process, but it`s worth investing the time and effort so that you don`t have to invest too much of your hard earned cash when your current mortgage deal comes to an end."

Last month, the Council of Mortgage Lenders released figures which showed that a record amount for July was lent to homeowners, as more people look to remortgage their property. In July, £34.4 billion was lent to consumers.

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