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Halifax launch fee-saver products for Help to Buy, First buy, NewBuy and MI New Homes mortgages.
Halifax launch fee-saver products for Help to Buy, First buy, NewBuy and MI New Homes mortgages.
A new ‘stamp duty special’ product range has been annoumced where Halifax will pay 100% of Stamp Duty Land Tax on selected products for first time buyers who fall into the 1% bracket (property purchase price between £125,001 and £250,000):
A choice of products will be available for first time buyers across the core range, affordable housing, Help to Buy/First Buy, NewBuy and MI New Home products
Cashback amount will equate to between £1,250 and £2,500
The payment will be made to the conveyancer on completion.
Their £500 cashback offer will be withdrawn from existing homemover and first time buyer products.
March house prices show increase of 0.9%
The March data from Land Registry’s House Price Index shows an annual price increase of 0.9 per cent which takes the average property value in England and Wales to £161,793.
The monthly change from February to March shows an increase of 0.1 per cent. Repossession volumes decreased by 18 per cent in January 2013 to 1,317 compared with 1,602 in January 2012.
The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 9.6 per cent.
London also experienced the greatest monthly rise with a movement of 2.5 per cent.
The region with the greatest annual price fall is the North East with a decrease of 5.5 per cent.
The North West saw the most significant monthly price fall with a decrease of 2.5 per cent.
The most up-to-date figures available show that during January 2013, the number of completed house sales in England and Wales decreased by 5 per cent to 41,763 compared with 43,752 in January 2012.
The number of properties sold in England and Wales for over £1 million in January 2013 increased by 28 per cent to 610 from 476 in January 2012.
Yorkshire BS offers 10-year fix at 3.99%
Yorkshire Building Society is offering borrowers long-term peace of mind with its new best buy 10 year fixed rate mortgage.
The deal – with a best buy rate of 3.99% for mortgages up to 75% LTV – is launched today.
The mortgage has no product fee and the rate is fixed until 30 June 2023.
An offset equivalent is available at 4.19%.
In addition, this mortgage is portable which means borrowers could transfer it if they move home between now and June 2023.
2 Year Fixed at 2.19% intermediary exclusive from Virgin Money (was Northern Rock)
2 Year Fixed at 2.19% intermediary exclusive from Virgin Money (was Northern Rock)
Virgin Money will launch an Intermediary Exclusive 2 Year Fixed rate at 2.19% and make reductions to selected products at 70% LTV.
The exclusive product is available to residential customers with loans of up to £300,000, who apply through an intermediary registered with a Virgin Money national account.
They are also increasing cashback on BTL products with a flat fee, meaning the full BTL range now offers £750 cashback.
Summary of changes
Residential
New Intermediary Exclusive 2 Year Fixed rate at 2.19% with a £1,095 fee up to 60% LTV
Selected 2, 3 and 5 Year Fixed rates at 70% LTV reduced by up to 0.15%:
2 Year rates will start from 2.34%
3 Year rates will start from 2.39%
5 Year rates will start from 2.89%
Selected 2 and 3 Year Trackers at 70% LTV reduced by up to 0.15%
Selected Fixed and Tracker rates at 80%, 85% and 90% LTV will be amended with 2 Year Fixed rates at 80% LTV starting from 3.39%
BTL
£750 cashback now available across all Buy to Let products
Selected 2, 3 and 5 Year Fixed rates reduced by up to 0.54%
2 Year Fixed rates will be available from 3.55% with £1,995 fee
2 Year Trackers with a £995 fee reduced by up to 0.54%
N&P launches very competitive mortgage scheme
Norwich & Peterborough Building Society has launched a highly competitive three-year mortgage available to borrowers with deposits of 40% and over.
This deal, available to purchase and remortgage borrowers, offers a rate of 2.49% fixed for three years and has a maximum loan-to-value of 60%.
An arrangement fee of £295 is payable, either upfront or added to the mortgage advance.
A free valuation is offered to all borrowers, whilst those looking to purchase will receive a £200 rebate. Remortgage borrowers can take advantage of free legal fees.
Flexible features, such as overpayments, underpayments and payment holidays are available.
Saffron offers 95% FTB deal with no early exit fee
Saffron offers 95% FTB deal with no early exit fee
Saffron Building Society has opened-up access to its popular 95% LTV first-time buyer mortgage, to make it available via mortgage brokers based throughout England and Wales.
The First Time Buyer Mortgage, which was previously restricted to properties located in the East of England, is particularly suited to buyers making the transition from renting to home ownership, as it takes into consideration their previous rental payment history. The product has the following features:
– Available up to 95% LTV
– 5.99% fixed rate to 31/08/2016 followed by 5.39% SVR for the remaining term (the overall cost for comparison is 5.7% APR)
– No early repayment charges
– Can be used for purchases up to a maximum of £500,000
– £495 arrangement fee (other fees may also apply)
New products from Nottingham Building Society
New Corporate Range products from Nottingham Building Society
4.19% 2 year fixed
- Fixed until 01/08/2015
- Max 90% LTV
- £800 application fee (can be added)
- £199 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Fixed until 01/08/2015
- Max 85% LTV
- £800 application fee (can be added)
- £199 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Fixed until 01/08/2018
- Max 80% LTV
- £800 application fee (can be added)
- £199 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
House prices continue to rise
This month sees the continuation of the trend set so far in 2013 with a 2.1% (+£4,996) rise in new seller average asking prices, the fourth successive monthly increase this year, according to Rightmove.
June 2012 saw the highest ever average asking price of £246,235, and this month’s average asking price is just £1,529 under that figure at £244,706. Furthermore, the average price of a property coming to market is up by 6.9% (+£15,717) so far this year. All regions have seen prices rise month-on-month except London, though this should be put into the context of prices in the capital outpacing the rest of the country over the last 12 months.
NewBuy Cymru scrapped by Welsh government
NewBuy Cymru scrapped by Welsh government
A flagship scheme to help homebuyers in Wales has been scrapped only weeks before it was due to start.
Welsh government ministers say the housing industry has withdrawn support after similar, but separate, plans were announced by the UK government.
The scheme would have enabled buyers to have high loan-to-value mortgages and supported the building of 3,000 homes. NewBuy had been promoted as a “major boost to the construction industry” in Wales promising “a positive impact on the housing market”.
NewBuy Cymru was due to be launched on June 3 and would have been open to everyone buying new build houses or flats worth up to £250,000 with a 5% deposit.
However, ministers accused UK Government of ‘pulling carpet away’ from project.
Housing Minister Carl Sargeant said a UK government scheme involved less financial risk for housebuilders.
Coventry expands Flexx and Offset range
Coventry expands Flexx and Offset range
Coventry Building Society has launched a range of Offset and Flexx for Term options with rates starting from 2.65%.
Highlights of the range include a 2.65% Flexx for Term mortgage for up to 65% loan to value, a 3.35% offset 5-year fixed rate mortgage for up to 65%LTV and a 3.89% offset 5-year fixed rate for up to 80% LTV. All three products are available for a £199 booking fee.