Nationwide to allow first-time buyers to borrow six times their …
Sep 23, 2024 · David Hollingworth, associate director of communications at L&C Mortgages, said: “Helping Hand has been a front runner in expanding the range of options open to first-time buyers who continue to struggle with affordability. Building an adequate deposit is hard enough, especially when the available mortgage borrowing is capped, and prices remain high.
Autumn Budget 2024: Stamp duty to rise to 5% on second homes, …
Oct 30, 2024 · Stamp duty is increasing from 3% to 5% on second homes from tomorrow, costing landlords an extra £7,000 on an averagely priced property. Chancellor Rachel Reeves announced the surprise tax increase in the Autumn Budget, claiming it would help first …
Barclays cuts residential and buy-to-let mortgage rates
Jul 4, 2024 · For borrowers wanting a five-year fix, the corresponding options at 65% LTV are priced at 4.34% with a £1,795 fee and 4.58% with no fee. For the option over 75% LTV, the rate on the fee-free deal will be cut from 5.75% to 5.55%.
Duffy steps down as Virgin Money CEO as Nationwide completes …
Oct 1, 2024 · Nationwide has completed its buyout of Virgin Money, becoming the second-largest provider of mortgages and savings accounts in the UK. As part of the acquisition, David Duffy, chief executive and executive director of Virgin Money, has departed his role, and he has been succeeded by Chris Rhodes.
Mortgage rate war comes to possible ‘halt’ as swap rates creep up
Oct 9, 2024 · The recent mortgage rate war seems to have ended as swap rates rose above 4% this week. According to Chatham Financial, the two-year swap rate was 4.06% as of 7 October, while the five-year swap rate was 3.81%.. These were both higher than respective rates of 3.91% and 3.56% in September.
OBR raises forecasts for mortgage rate and house price growth
Oct 31, 2024 · The Office for Budget Responsibility (OBR) has increased its forecasts for house price and mortgage rate growth over the next five years. Average interest rates on existing mortgages are expected to rise from around 3.7% this year to a peak of 4.5% in 2027, where they are forecast to remain until 2030, the OBR said in its Economic and Fiscal Outlook.
First 'mortgage prisoner' court hearing to be held this week
Jul 22, 2024 · This includes measures introduced by the Mortgage Market Review in 2014, which was designed to encourage responsible lending. After it was published, lenders were required to conduct affordability assessments on mortgage borrowers.
Everything you need to know about swap rates…but were afraid to …
Oct 7, 2022 · Homeowners feel downbeat about the economy, Family BS survey finds • The Cambridge donates essential items through Giving Tree campaign • Property divide between rich and poor is widening, says Resolution Foundation • Half of remortgagors boost their loan size as most go for five-year fix – LMS •
HSBC, Barclays and NatWest slash mortgage rates – round-up
Oct 3, 2024 · Barclays, HSBC and NatWest have all announced reductions to their mortgage rates, effective from Friday 4 October. HSBC has lowered pricing by as much as 0.16% on two- and five-year fixes for residential homemovers and first-time buyers, and has made cuts of up to 0.25% on buy-to-let (BTL) mortgage rates.
Hope Capital launches clean credit loan
Nov 19, 2024 · Hope Capital has launched a clean credit loan for borrowers with a good or excellent credit record. The premium range sees the lender make significant rate reductions to its residential offering, where borrowers who fit into the criteria can benefit from either 75% loan to value (LTV) at 0.91% or 70% LTV at 0.89%.