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Blog: Open Banking Could Help Mortgage Holders
Around 250,000 borrowers are currently classified as ‘mortgage prisoners’ in the UK. Individual circumstances vary, but ultimately these borrowers are unable to remortgage or get better mortgage deals, either because of equity or affordability concerns, or because their provider has no money. appropriate new or cheaper offers to offer them. As a result, some of …
Lifetime mortgage market jumps 31%: Responsible Life
According to data from Responsible Life, the amount of equity released by lifetime mortgage customers has jumped 31% in one year, driven by a “rush to the middle class”. The end-of-life mortgage broker says the average amount released by its clients over the past 12 months rose from £86,000 to £112,700 in April. He says: …
MCI Mortgage Club adds United Trust Bank to its lender panel
The MCI Mortgage Club has added specialist lender United Trust Bank to its panel. United Trust Bank lends on first and second mortgages up to £ 500,000 and will accommodate non-preferred clients and non-standard construction property types. The bank has flexible criteria for salaried and self-employed clients and does not establish a credit score. Last …
Habito returns to 80% LTV BTL loan
Habito returned to 80% loan-to-value, across its buy-to-lease range for two- and five-year fixed rate products. The online mortgage company has also cut rates for its existing fixed products to 75% LTV over 5 years. Habito’s 80% LTV, two-year fixed rates start at 3.89% and five-year fixed rates start at 4.15%. Its five-year 75% LTV …
HSBC cuts rates on full range of mortgages
HSBC UK is reducing rates on all LTVs in its range of mortgages, up to 0.30%. The lender made the move because it recorded its busiest month in terms of mortgage lending in March and onboarded more than 100 brokerage firms in the past eight weeks, for a total of 400 partner brokerage firms. Highlights …