Interest only mortgages dealt another blow
Press reports: “Over 40 too old for a mortgage” Mail & Telegraph, 14th July 2014
Santander reports: “Reduce maximum age at maturity for interest only mortgages down from 75 to 65 years of age”. Santander, 21 July 2014 Continue reading →
Scottish Help to Buy scheme runs out of cash
The Scottish Help to Buy scheme has ran out of funds after its entire budget was used up in the first three months of the financial year. Continue reading →
LBG extends Help to Buy to new builds
Homeowners can now purchase new build properties through both Halifax and Lloyds Bank Help to Buy Mortgage Guarantee scheme products. Continue reading →
Scottish house price growth continues
Average house prices in Scotland rose on a seasonally adjusted basis by £884 in May, or 0.5%, according to the latest house price index for Scotland from LSL Property Services and Acadata. Continue reading →
Middle-aged borrowers facing problems taking out mortgages
New mortgage affordability rules mean lenders are now taking into account post-retirement income before agreeing to a mortgage term ending beyond the borrower’s retirement date. Continue reading →
The Credit Crunch – Mortgage Solutions
How has it happened?
A combination of liberal lending, complicated inter bank borrowing and a sharp reversion back to more conservative lending attitudes, has meant that borrowing money has become much more difficult.
One of the main indicators is that Banks, Building societies and other financial institutions had relaxed their lending criteria. They were issuing mortgages to those who were not in a realistic position to maintain the levels of repayment. This has resulted in a number of people defaulting on their mortgage payments. Continue reading →
Precise Mortgages loosens age limit criteria
Precise Mortgages has eased up on its lending into retirement criteria by extending it maximum age limit. Continue reading →
TMW launches let-to-buy range from 2.49%
The Mortgage Works is now offering a new range of let-to-buy products, with rates starting at 2.49 per cent. Continue reading →
Barclays offers 2-year fix at 2.65% after rate reductions
Barclays is reducing the rate offered on several products across its residential and buy-to-let ranges by up to 30 basis points. Continue reading →