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time buyers


Eight in 10 consumers are worried about the rising cost of living over the next six months, according to a new YouGov poll. This national survey found that 39% were ‘very worried’ about the cost of living squeeze, with a further 45% describing themselves as ‘quite worried’. The findings come ahead of the Chancellor’s spring …

In late February, the Bank of England’s (BoE) Financial Policy Committee (FPC) released its promised consultation on plans to scrap the mortgage affordability test, one of two recommendations first introduced. in 2014. These recommendations include the loan-income stream limit (LTI), which limits the number of mortgages that can be loaned at an LTI ratio greater …

The number of first-time buyers (FTB) in the UK doubled in 2021, with volumes up 98% on 2020, according to Barclays Mortgages’ first-time buyers index. According to the index, FTBs paid an average of £281,000 in 2021 to access the property ladder, a decrease of £12,600 from 2020, although this figure is higher than the …

According to Legal & General Mortgage Club (L&G MC), advisor searches for lenders willing to accept borrowers in default increased 157% in January, as did options suitable for arrears and missed mortgage payments, which respectively increased 77% and 90%. The findings come as the UK’s cost of living crisis continues to bite. Searches for customers …

Most brokers struggle to find loans for new homeowners, according to data from Mercantile Trust. Broker buy-to-let and bridge lender says 55% of intermediaries regularly experience difficulties when trying to find financing for new BTL customers, following an online survey. He adds that half of advisors had similar problems obtaining loans for BTL clients with …

After a frenetic year that consistently exceeded expectations, it’s invigorating to look at 2022 with fresh eyes and assess what the market should be preparing for in the months ahead. Last year was characterized by a surge in sales fueled by the stamp duty holiday and second home buyers. Naturally, this has led to a …

Affinity Mortgages will now be able to offer Proportunity equity loans to its clients, following the lender’s addition to Proportunity’s panel of brokers. The loans, which help people with limited capital to move up the property ladder, are available to first-time buyers and existing homeowners. Loans are made through brokers only, up to a value …

Halifax Intermediaries will make price changes to select products for first-time buyers and movers, including affordable housing – share shares and condominiums, on Monday, February 14. The broker-only subsidiary says the move will cut rates by up to 34 basis points on certain fixed-rate products from 85-90% to two-year fixed and five-year fixed-rate offerings from …

Shutterstock/Anna evlanova.ru The real estate market exploded last year, including the buy-to-let (BTL) sector. According to UK Finance, BTL buying activity grew to £18 billion in 2021, a colossal 83% increase on activity in 2020. Meanwhile, Shawbrook Bank’s 2021 Buy-to-Let report found that the value of the private rental sector grew by 5.8% in 2021, …

Jon Cooper, Head of Mortgage Distribution, Aldermore Owners are experts at dealing with change. They’ve had a lot of practice over the past 10 years. But the next hurdle is high. Minimum energy efficiency standards are set to tighten considerably in just three years if the government’s proposals come to fruition. And properties that aren’t …

The government has finally published its long-awaited white paper on the ‘upgrading’ agenda, courtesy of the Secretary of State for Upgrading, Housing and Communities, Michael Gove. This 2019 election slogan expresses a desire to smooth the gaps in wealth and opportunity, which are currently concentrated in the Southeast, across the country. The government says it …

The government has announced that it will soon publish its White Paper on Leveling, the overall aim of which is, over a decade, to address and correct the geographical inequality of opportunity and wealth plaguing the UK. “We have one of the largest and fastest growing economies in the world. Ours is the most spoken …

HSBC has reintroduced a sub-1% mortgage rate as part of a product renewal. The big bank says the move will make it cheaper to access or move up the property ladder, or mortgage with the lender when a current fixed-rate loan comes to an end. It says sub-1% new mortgages, with a fee of £999, …

Gatehouse Bank has raised the maximum amount of its Home Purchase Plans (HPPs) to £5m, bringing them into line with its buy-to-let range. The UK Shariah-compliant lender adds that the maximum loan available at 80% Funding-to-Value (FTV) across the Bank’s HPP and BTL ranges has doubled from £1m to £2m. In addition, the maximum funding …

There has been a long road to recovery since the 2008 financial crisis and its impact on homeowners has been the driving force behind most of the regulatory developments that have taken place in the UK since. After the crisis, the regulator introduced a new lending framework through the Mortgage Market Review and, while established …

As inflation hits the headlines for the first time in decades and interest rates rise despite the spread of Omicron, fixed and variable rates remain in the foreground for many mortgage professionals, and what increases in interest rates will mean for customers. Meanwhile, and perhaps under the radar for many, the issue of Energy Performance …

House prices in England and Wales will recover from a December drop in the first two months of next year, according to Reallymoving analysis. The firm says that after a monthly drop of 1.1% in December, house prices are expected to rise 2.5% in January 2022 and 0.2% the following month. This equates to an …

United Trust Bank (UTB) has increased the maximum size of its first charge residential mortgage to £ 1million. The specialist lender said it made the move following comments from brokers that there is a growing demand for larger mortgages from clients who are not served by traditional lenders. Products are available on residential purchases for …

The platform increases its SVR (standard variable rate) following the increase in the base rate of the Bank of England from 0.10% to 0.25%. The bank’s SVR will drop from 4.34% to 4.49% effective today, Monday, December 20. For existing customers, the change to 4.49% SVR will not come into effect until February 1, 2022. …

Panel members David Hollingworth, Associate Director of Communications, London & CountrySarah Tucker, Managing Director, The Mortgage MumMatt Tilbury, Senior Mortgage and Protection Advisor, Just Mortgages Greg Cunnington, Director of Lender Relations and New Homes, Alexander HallMark Pattanshetti, Associate Director, Largemortgageloans.comAaron Strutt, Director of Products and Communications, Trinity FinancialDale Jannels, Managing Director, Impact Specialist FinanceDavid Sheppard, …

Hanley Economic Building Society launched two residential fixed rate mortgages. The first is a fixed rate mortgage of just 1.75% over two years and 80% LTV, which comes with a free standard appraisal and free legal fees. The second is a five-year 95% LTV fixed rate offer with an aggregate rate of 3.45%, which is …

Thousands of adult children are expected to receive Christmas presents, as nearly two-thirds of parents have already helped them buy a home by spending an average of £ 32,440 for deposits, according to Zoopla. The real estate website said 64% of parents helped their kids buy their first home, with 24% of parents saying their …

Virgin Money launched a new condominium mortgage, bought two products and cut rates. The condominium mortgage is in the “Greener” category, which means properties must have an “A” or “B” energy performance certificate rating, and is available at 90% LTV over a five-year period. years at 2.40%. He charges a fee of £ 995. Virgin …

UK average house prices hit a new record high of £ 272,992 in November, according to the latest Halifax index. That means a monthly change of 1% – the fifth consecutive month of house price increases – and an annual growth rate of 8.2%. Halifax also notes that the quarterly change – up 3.4% – …

Average 95% LTV rates are the lowest on record, Moneyfacts says. For a two-year patch, first-time buyers with a down payment of 5% will be able to obtain an average rate of 3.09% and, for a five-year patch, 3.39%. In December 2019, these rates were 3.25% and 3.57% respectively. However, the choice of products for …

Mortgage Advice Bureau has made an undisclosed investment in Heron Financial, which it says will allow it to leverage the mortgage and insurance company’s bespoke software to “improve client and advisor performance.” . The broker listed on AIM adds that the partnership will strengthen its “position in new real estate, to reflect the changing expectations …

The founders of Nested are launching an equity loan product similar to Help to Buy with plans to start lending by the end of this year. Unlike the government-run program, buyers will not be limited to new construction. The loans will be interest-free, with the lender benefiting instead from a capital appreciation. The lender, called …

First-time buyers looking for secured a house in one of the 20 largest cities in the UK must deposit an average deposit of £ 10.606, according to Beehive Money. Average deposits drop to £ 7,605 for an apartment or cottage, according to the savings app, owned by the Nottingham Building Society, which analyzed cadastral housing …

Shutterstock-Olyy-168221678 The transition sector continues to be one of the success stories of the mortgage market in recent years. The influx of new lenders has lowered rates, making the sector more attractive and degrading the image it once had of last resort credit. A healthy appetite from investors and entrepreneurs has also contributed to the …

Affordability remains the main disadvantage for people wishing to buy a home, which is why government programs such as Home Buyer’s Assistance have proven to be popular. Buying aid is due to close in 2023 and there are private companies looking to fill the void, but another way to get a foot on the housing …

Mortgage Broker Tools has added Octane Capital to its MBT Affordability research platform panel. Lender specializes in complex BTL loans with no stress tests on residential and semi-commercial assets, freehold multi-unit buildings, multi-occupancy homes, properties over commercial, older community homes local and vacation rentals. Its offers are available to first-time buyers, first-time owners, borrowers with …

According to Rightmove, one million households saved £6.1billion when they moved during the stamp duty holiday. The data from the online estate agent comes after the end of 15-month tax relief in England and Northern Ireland yesterday, after it was introduced by Chancellor Rishi Sunak last July to revive an industry that had stagnated in …

Standard Life has launched a free service to help pension plan members plan to purchase their first home. The new service called Homebuyer Hub was developed in collaboration with Life Moments. In February, Phoenix Group announced the acquisition of the Standard Life brand, which was finalized in May. Standard Life is now part of the …

Wayhome has started buying properties through what he calls a ‘phased homeownership’ model using £ 500million in funding provided by pension providers. The scheme is an alternative to traditional condominiums, but it allows buyers to purchase homes with a 5% down payment and it is not limited to new construction. Wayhome says the program allows …

Image Credit: Shutterstock The pandemic has led to a savings boom, but many mortgage experts suggest that because the wealthiest households are the main beneficiaries, it is unlikely to help many more first-time buyers access finance. real estate scale. Numerous studies have shown that households have set aside over £ 100bn in excess deposits as …

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 …

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 …

Just under one in five first-time buyers got a mortgage on their first attempt last year – up from a rate where almost half of new homebuyers had their initial application accepted in the year preceding the pandemic, according to Aldermore. Only 19% of FTBs were accepted for a mortgage on the first attempt in …

Renting had never been on Liz Hamburger’s card, choosing instead to put money aside each month while living with her parents and heading to London. She is gradually saving and in December 2016, Liz, now 29, buys her first house with her then boyfriend. Obtaining a mortgage with a down payment of 10%, Liz says …