Aspiring homeowners are being offered a potential leg-up as mortgage deals for those hoping to buy with a five per cent deposit re-emerge. Several mortgage lenders including Bank of Ireland, Coventry Building Society and Accord, part of Yorkshire Building Society, are now offering 95 per cent loan-to-value deals. In addition, several other major lenders are … Read more
Landlords could get preferential treatment when applying for mortgages if their properties are energy efficient, as lenders begin to launch new green products to the market. This week, Paragon Bank launched a new range of buy-to-let mortgages which offer lower-deposit options to landlords whose properties have an Energy Performance Certificate rating between A and C. … Read more
James Anderson, joint manager of Scottish Mortgage, has announced he will retire from Baillie Gifford in April next year. The stalwart of the the £16billion investment trust will pass full reins to current co-manager Tom Slater, who will also be joined by Lawrence Burns, as a new deputy manager. Anderson has managed Scottish Mortgage since 2000, … Read more
Yorkshire Building Society has become the first lender to bring a range of mortgages with 5 per cent deposits back to the market, potentially heralding a price war that could benefit first-time buyers. Accord Mortgages, the intermediary arm of the building society, is launching the mortgages tomorrow with a five-year fixed rate of 3.99 per … Read more
Metro Bank launches ‘near prime’ mortgages for borrowers with low credit scores, missed payments and even repossessions on their record New mortgages will have less strict credit checks than standard home loans Those who have missed mortgage or loan payments, declared bankruptcy and even had a home repossessed will be eligible under certain circumstances They … Read more
The Government has announced a plan to guarantee mortgages with five per cent deposits, encouraging banks to lend to those with smaller savings pots. In today’s Budget, Chancellor Rishi Sunak confirmed that the Government would back the home loans, which will be available on homes costing up to £600,000. The scheme will begin in April … Read more
A mortgage guarantee scheme to help thousands of young people onto the property ladder with small deposits is set to feature in next week’s Budget. Chancellor Rishi Sunak plans to incentivise lenders to provide mortgages to first time buyers, and current homeowners, with just 5 per cent deposits to buy properties worth up to £600,000. … Read more
Mortgages needing 10 per cent deposits are continuing to return to the market, in a welcome move for first-time buyers. Lenders have launched 117 new products since the beginning of the year, and 29 in the first two weeks of February alone, according to information website Moneyfacts. These lower-deposit mortgages are popular with first-time buyers, … Read more
Lenders are beginning to reduce interest rates on 10 per cent deposit mortgages, as more products return to the market. This week, Metro Bank cut the rate for its 90 per cent loan-to-value, five-year fixed rate mortgages by 0.4 percentage points. New mortgages are now being offered at 3.59 per cent, while those looking to … Read more
More choice for landlords as number of buy-to-let mortgage deals on offer increases – but rates are also nudging higher There are nearly 2,000 buy-to-let mortgages on the market right now Although more than last month, this is still far fewer than before the pandemic Lenders are bringing back 20 per cent deposit products for … Read more