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Free Landlord’s rent guarantee insurance
A major Buy to Let mortgage lender now offers free rent guarantee on all new Buy to Let lending, to offer all new landlord customers 6 months free rent guarantee and legal expenses cover.
The mortgage offer pack will include details of how to take up this offer, which covers:
Loss of rent up to £2,500 a month (up to a maximum of £15,000), Legal fees of up to £25,000, Landlord costs for disputes including court costs and evictions.
Call us for more details.
Future generations may never own
Future generations may never own their own their own home with young people continuing to struggle to get on the property ladder, industry experts have warned.
In response to statistics documenting the trend of multiple families living in the same household in England and Wales experts have expressed grave doubts about the future of home ownership.
Research from the Office for National Statistics has documented the rise of so called “concealed families” following analysis of census data from 2011.
The research revealed a 70% increase in concealed families, i.e. a couple or lone parent living with another family, between 2001 and 2011. As such the number of such families in England and Wales reached a staggering 289,000.
Over the last 10 or 15 years house prices have decoupled from earnings growth and it’s getting harder and harder for young people to become first-time buyers.
During the recession certain groups of people also got themselves into financial difficulties and have elected to live with their parents again to get back on their feet financially.
House prices up 1.1% in January
The latest Halifax House Price Index shows that house prices rose by 1.1% in January following a small fall in December (-0.5%).
House prices in the three months November 2013-January 2014 were 1.9% higher than in the preceding three months (August 2013-October 2013). This is within the range of 1.8 – 2.1% recorded for this measure throughout the preceding eight months to June 2013.
The Halifax said activity is on an upward trend with housing transactions in 2013 exceeding one million for the first time since 2007.
Coventry BS launches flexible mortgages from 2.65% + £500 Ikea vouchers for FTB’s
Coventry BS launches flexible mortgages from 2.65%
Coventry Building Society has launched a highly competitive range of flexible products that also provide a level of security.
The new range includes two highly competitive Flexx capped products with rates starting from as low as 2.65%. Available from Friday 16th August highlights include:
– 2.65% Flexx for Term with 2.90% cap until 30.09.16, 65% LTV £199 booking fee with £800 arrangement fee with no early repayment charges (ERCs).
– 3.75% Flexx for Term with 4.00% cap until 30.09.16, 85% LTV £199 booking fee with £800 arrangement fee with no ERCs.
– 3.85% 3 Year Flexx Fixed Rate until 30.09.16, 85% LTV £199 booking fee with £500 arrangement fee with no ERCs.
– 2.75% 3 Year Flexx Fixed Rate until 30.09.16, 65% LTV £199 booking fee with £500 arrangement fee with no early repayment charges (ERCs).
– First time buyer, members only 4.19% 3 Year Fixed Rate until 30.09.16, 90% LTV £199 booking fee with no arrangement fee, ERC’s payable to 30.09.16 and £500 Ikea vouchers.
House prices up 0.8pc
House prices up 0.8pc
British house prices in July grew at their fastest annual rate for nearly three years, the latest Nationwide House Price Index has revealed.
House prices increased by 0.8% in July compared to a 0.3% rise in June and are now some 3.9% higher than they were in June last year.
Robert Gardner, chief economist at Nationwide, said: “Signs of a modest improvement in wider economic conditions and further modest gains in employment are likely to be lifting buyer sentiment.
“An improvement in the availability and a reduction in the cost of credit, partly as a result of policy measures such as the Funding for Lending and Help to Buy schemes, are also boosting the demand for homes.”
‘Mortgage-free’ age goes through the roof.
‘Mortgage-free’ age goes through the roof.
Over a third of homeowners in the UK expect to be well into their 60’s before they finally pay off their mortgage, according to new research by Post Office Mortgages.
The revelation is in stark contrast to just a generation ago when the average age of becoming mortgage-free was just 51 years old.
High house prices and the challenge of saving for a deposit have also meant that many homeowners are making the first step on the property ladder much later than their parents did – taking out their first mortgage at an average age of 33.
Other homeowners are pushing back outright ownership by remortgaging and using the equity in their home to fund other expenditures, the survey revealed. Nearly one fifth (18 per cent) stated that they have remortgaged to improve their current house or buy a second home, while a further one in 12 (8 per cent) have done so to support their children.
One in eight (12 per cent) are sure they will not be able to keep to their current mortgage term, while a further 14 per cent are sweating over meeting their mortgage terms.
However, the dream of owning our own homes outright remains as strong as ever – with four in five (79 per cent) saying this is something they wish to achieve.
WE SAY: If you are going to have a mortgage for 25 years or more, make sure you are paying the least amount possible for it. Call us on 08458 386938 to discuss your options.
New products from Nottingham Building Society
New products from Nottingham Building Society
- 2.20% discount for 3 years
- Max 80% LTV
- £300 application fee (can be added)
- £199 booking fee
- Unlimited overpayments
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Product code: MD0102
- Fixed until 01/09/2015
- Max 65% 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
- Product code: MF011H
- Fixed until 01/09/2015
- 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
- Product code: MF0117
- Fixed until 01/09/2015
- 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 remortgageProduct code: MF011A
- Fixed until 01/09/2015
- Max 70% 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
- Product code: MF011F
- Fixed until 01/09/2015
- 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
- Product code: MF011C
- Fixed until 01/09/2018
- 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
- Product code: MF011E
- Fixed until 01/09/2018
- Max 70% 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
- Product code: MF011G
- Fixed until 01/09/2015
- Max 75% LTV
- £1,500 application fee (can be added)
- £499 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Product code: MBF10H
- Fixed until 01/09/2016
- Max 75% LTV
- £1,500 application fee (can be added)
- £499 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Product code: MBF10K
- Fixed until 01/09/2015
- Max 75% LTV
- £1,200 application fee (can be added)
- £299 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Product code: MBF10J
- Fixed until 01/09/2016
- Max 75% LTV
- £1,200 application fee (can be added)
- £299 booking fee
- Available for purchase & remortgage
- Free valuation for purchase and remortgage
- Free legal fees for remortgage
- Product code: MBF10L
High LTV lending hits highest level since Sept 2008
House purchase lending to high LTV borrowers hit a four and a half year high in June, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor.
High LTV lending reached a post-financial crisis record in June, hitting their highest level since September 2008. There were 7,046 loans advanced to borrowers with a deposit of less than 15% during the month, up 47% from 4,790 in June 2012.
The improvement in high LTV lending was the catalyst behind a 23% year-on-year increase in total house purchase lending. There were 58,321 house purchase approvals in June, up from just 47,422 in June last year, making it the strongest June for house purchase lending since 2007.
There were 3% more high LTV loans in June compared to May, continuing the trend of high LTV borrowers forming a bigger share of the house purchase market.
The sharp increase in the number of high LTV borrowers in June was the result of a significant and sustained improvement in the availability of high LTV mortgages since the start of the year. Lenders are more willing to grant house purchase loans to borrowers with small deposit, and have introduced a wider range of low rate mortgages into the market aimed at first-time buyers.
The Bank of England’s Credit Condition Survey revealed a sustained effort by lenders to increase their high LTV lending in Q2. And the survey revealed that lenders are planning to increase their lending levels to buyers with just a 10% deposit in the third quarter of the year. The survey also showed that demand for house purchase loans is picking up, as confidence grows amid an improving economic outlook.
The improvement in high LTV borrowers – most of which were first-time buyers – was reflecting in the growing number of loans on properties under £125,000 in value (typical first-time buyer property). There were 13,975 loans approvals for purchase of property worth under £`125,000, 34% more than this time last year, when there were just 10,433. While partly reflecting improving house prices, the increase does this reflect two changes in the market: The first – rising demand, as confidence in the economy returns. The second: more first-time buyer activity, and the wider availability of high LTV loans.
Home loan numbers were flat month-on-month in June, but in May lending levels reached a high not seen for 41 months. Sustained high levels this month confirm that it’s a trend rather than a freak high. The average monthly lending figure over the last twelve months was just 53,248 – June levels were 9% above that average.
Abbey launches new two-year deals
Abbey launches new two-year deals
Today Abbey for Intermediaries* is launching two new best buy two-year deals:
– A two-year fix with a rate of 2.14 per cent and a £995 fee, available up to 60 per cent LTV
– A two-year tracker with a rate of 2.34 per cent and a £995 fee, available up to 70 per cent LTV
Both products are available to homebuyers and remortgagers and come with the added benefit of either the Homebuyer or Remortgage Solution. The Homebuyer Solution offers borrowers a free standard mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.
* Abbey for Intermediaries is Santander (UK) Ltd, which used to be known as Abbey National. Their products are available via brokers, not always over their counter.
New Halifax 60% LTV products launched today
1.94% 2 Year 60% Purchase Fixed
Fixed until 30/09/2015
Max 60% LTV
£999 arrangement fee
Available for homemovers & first time buyers
1.94% 2 Year 60% Remortgage Fixed
Fixed until 30/09/2015
Max 60% LTV
£999 arrangement fee
Available for remortgages
1.94% 2 Year 60% Remortgage Fixed
Fixed until 30/09/2015
Max 60% LTV
£999 arrangement fee
Available for remortgages
No remortgage service & £750 cashback
2.14% 2 Year 60% Remortgage Fixed
Fixed until 30/09/2015
Max 60% LTV
£499 arrangement fee
Available for remortgages
Free valuation & free legals
2.34% 2 Year 60% Remortgage Fixed
Fixed until 30/09/2015
Max 60% LTV
No arrangement fee
Available for remortgages
No remortgage service & £750 cashback
All loans have :
Maximum loan £1,000,000
Completion deadline 31st December 2013