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Scottish Widows Bank Hinckley & Rugby BS Re-mortgages Teachers BS Accord mortgages Yorkshire BS Virgin Money N&P BS Santander CEBR Nationwide BS RICS The Mortgage Works Bank of England Buy to Let Saffron BS First Time Buyer Coventry Building Society Nottingham BS NatWest Mortgages Halifax House prices News
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.
House prices rise £6,700 as London brings the average up £5k
House prices rise £6,700 as London brings the average up £5k
House prices in England and Wales have risen £6,700 in the last year according to the LSL/Acadametrics house price index released today.
This leaves the average house price at £230,078 – but, without London, house prices would be just £1,117 higher. This follows a steady increase in house prices, with prices only haven fallen once in the 16 months.
Santander launches new higher LTV 5-year fix and new rates
Santander launches new higher LTV 5-year fix and new rates
Santander continues to support first time buyers, other homebuyers and the housing market by continually reviewing its mortgage range and introducing competitive products across all LTVs to suit customers’ needs.
The latest offering includes even better rates for 2- and 3-year fixes and 2-year trackers, for homebuyers and re-mortgage customers and a new deal for those looking to purchase or re-mortgage on a 5-year fix up to 80% LTV.
Halifax reduces affordable housing rates
Halifax reduces affordable housing rates
Halifax has reduced the rates across its NewBuy, Shared Equity and Shared Ownership mortgages in a move to further strengthen its support of the affordable housing sector.
The changes, which came into effect today include:
New Buy and MI NewHome
90% LTV 2 year fixed rate mortgage reduced by 0.30% to 4.69% with a £995 fee
90% LTV 2 year fixed rate mortgage reduced by 0.30% to 5.09% with no fee
90% LTV 7 year fixed rate mortgage reduced by 0.30% to 4.69 with no fee
Shared equity and Shared Ownership
Up to 60% LTV 2 year fixed rate mortgage is being reduced by 30bps to 2.74% with a £999 fee
60% LTV 2 year fixed rate mortgage is being reduced by 30bps to 3.19% with a £999 fee
Up to 75% LTV 2 year fixed rate mortgage is being reduced by 30bps to 3.59% with no fee
Hinckley & Rugby boosts maximum loan sizes across mortgage range.
Hinckley & Rugby boosts maximum loan sizes across mortgage range.
Hinckley & Rugby Building Society has increased its maximum mortgage advance across a range of LTVs, including at up to 90 per cent.
The mutual lender has boosted the advance limit on 90 per cent LTV mortgages for residential house purchase and remortgages by £75,000 and will now lend up to £275,000.
At up to 85 per cent LTV the limit is now £300,000, a rise of £100,000. At 80 per cent LTV the new limit is £350,000 (up from £240,000). £100,000 has also been added to the limits at 75 per cent LTV, which is now £400,000, and 70 per cent LTV, now £450,000.
Available via mortgage introducers, the new limits are designed to broaden the appeal of the Society’s competitive mortgages by welcoming in a wider price range of properties.
Although available for remortgages, the new thresholds will only apply where it is a straight £ for £ replacement or for documented home improvements, but not debt consolidation.
Saffron BS launches Next Step mortgage to help second-steppers
Saffron BS launches Next Step mortgage to help second-steppers
Saffron Building Society has announced the launch of a new mortgage designed to help second and subsequent time buyers struggling to raise a deposit, take their next step on the housing ladder.
The Next Step Mortgage, which is available via mortgages brokers, has the following features:
– Available up to 95% LTV
– 5.99% rate fixed to 31/8/16
– No early repayment charges
– For house purchases up to £500,000
– £495 arrangement fee
– also available to third, fourth and subsequent time movers