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Accord increases max LTV to 90% for flats
Accord increases max LTV to 90% for flats
Accord Mortgages has increased the maximum loan to value it will lend on flats and apartments as it seeks to give further help to first time buyers.
The intermediary lender has changed its policies to allow borrowing of up to 90% LTV on flats and apartments, up from 85%.
LTV limits on new build flats and apartments have also been increased, to 85% from 75%.
The changes bring Accord’s lending policies on flats and apartments in line with that for houses.
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Their £500 cashback offer will be withdrawn from existing homemover and first time buyer products.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%
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.
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
Nationwide Building Society reduce rates
Nationwide Building Society have announced that all rates up to 70% LTV reduced from Wednesday 10 April 2013.
All fixed and tracker rates up to 70% LTV reduced by 0.10%, now starting from 2.24%
Rates for existing customers moving home or taking further borrowing will continue to be priced 0.10% below new customer rates.
RICS:Best quarter for house sales in 3 years
RICS:Best quarter for house sales in 3 years
The UK housing market experienced its best quarter since 2010 with house sales at their highest level in three years, the latest RICS UK Housing Market Survey revealed.
The survey found that an average 17.4 homes were sold in each of the first three months of the year whilst prices remained broadly stable.
RICS said that its seasonally adjusted house price balance for March rose to -1 from -7 in February implying that roughly equal numbers of its members reported price falls and price rises over the preceding three months.