MORTGAGES INCOME SUPPORTED BTL FROM PRECISE
December 5, 2017 by David Sellar in category Mortgage NewsIncome-supported buy-to-let mortgages and remortgages will be launched next week. This lets customers with excess income bridge the gap between the rent they need and the rent they would earn. The new product will be designed to let brokers help customers who would otherwise struggle with prime lenders’ lending policies for buy to let mortgages […]
0 0 Read moreFIRST TIME BUYERS STAMP REFUNDS
December 5, 2017 by David Sellar in category Mortgage NewsFIRST TIME BUYERS For stamp duty costs that have been inadvertently paid on house purchases made since the Budget, HMRC has confirmed that first time buyers will be able reclaim this cost For the vast majority of first time buyers there had been concerns that those buying on the day of the Budget, or shortly […]
0 0 Read moreSELF EMPLOYED MORTGAGES ON THE INCREASE
April 6, 2017 by David Sellar in category Mortgage NewsSince the 2007 credit crisis self employed borrowers have found it difficult, if not impossible, to secure a mortgage. However, demand for mortgages from the self-employed and contract workers is rocketing, outstripping growth from employees. And this is forcing lenders to lower borrowing barriers and embrace these applicants. Almost 20% of workers is either self-employed […]
0 0 Read more10 YEAR FIXED RATES
March 8, 2017 by David Sellar in category Mortgage NewsThree years ago, according to Moneyfacts, there were only eight 10-year fixed-rate home loans available, but now there are 124. The average 10-year mortgage rate has fallen by more than a percentage point over the same period, from 4.23pc in January 2014 to just 3.2pc today. Barclays charges slightly more at 2.59pc with a £999 […]
0 0 Read moreNEW AREAS FOR BUILDING SOCIETIES
March 8, 2017 by David Sellar in category Mortgage NewsWith regulation increasingly driving lenders into non-traditional areas, the building society sector is poised on the brink of huge changes this year,say experts For instance Buckinghamshire Building Society was considering moving into regulated bridging, and that Saffron Building Society planned to offer unregulated bridging to property developers. Previously it was announced that Skipton Building Society’s […]
0 0 Read moreMORTGAGE LENDING AT LLOYDS BANKING GROUP PLUMMETS
July 29, 2016 by David Sellar in category Mortgage NewsAmid a backdrop of cost-cutting exercises and the prospect of a planned scale-back in growth, gross mortgage lending at Lloyds Banking Group plunged 22% in the first half,. A sharp drop from the £22.7bn lent in the second half of 2015During the first six months of 2016, mortgage lending totalled £17.7bn at the group. As […]
0 0 Read moreNegative Interest Rate effect
July 28, 2016 by David Sellar in category Mortgage NewsLetter to 1.3 million combined business and commercial customers have been written by Natwest and Royal Bank of Scotland warning they may have to charge them to hold deposits as a result of low global interest rates. The BBC reports that if this happened it would effectively be the first time UK banks had negative […]
0 0 Read moreMORTGAGE DEMAND EXPECTED TO SLOW
July 14, 2016 by David Sellar in category Mortgage NewsAccording to the Bank of England’s latest Credit Conditions Review, lenders expect consumer demand for mortgages to slow Many of the UK’s major lenders anticipate that demand for mortgages for house purchase will reduce in the near term. Discussions with Santander, Barclays, HSBC, Lloyds, Nationwide, and RBS, showed that mortgage appetite among consumers rose significantly […]
0 0 Read moreCALL FOR SUSPENSION OF STAMP DUTY ON PURCHASES UNDER £500K
July 14, 2016 by David Sellar in category Mortgage NewsIn spite of former chancellor George Osborne hiking stamp duty for buy-to-lets and second properties as recently as April with a 3% surcharge, the financial planning expert at Old Mutual Wealth, Rachael Griffin has called on the new chancellor Philip Hammond to suspend stamp duty for purchases under £500k as it could provide much needed […]
0 0 Read moreFirst Time Buyer Mortgages Fall In 1st Quarter of 2016
May 25, 2016 by David Sellar in category Mortgage NewsCouncil of Mortgage Lenders (CML) figures revealed that compared to the previous three months, lending to first-time buyers dropped in quarter one across the UK, with Scotland suffering the biggest decline as the value of fledgling loans fell 24%. Scottish first-time buyers borrowed £600m in Q1, around a quarter less than final quarter of 2015. […]
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