Archive for the ‘Mortgages’ Category

BTL Lending Criteria to Tighten

Posted: August 15th, 2015 | Posted by: admin

Landlords looking for a buy-to-let mortgage will face more restrictive lending criteria in the future. High street lenders are planning to put stricter checks in place to help head off a potential ‘buy-to-let boom’.  The BTL lenders are keen to avoid government regulation of the BTL mortgage market; which remains largely free of Financial Conduct […]

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Accidental’ landlords set to be banned by the EU from 2016

Posted: September 17th, 2014 | Posted by: admin

Homeowners who become “accidental landlords” – because they need to relocate for work or because they can’t sell their property, for example – could find it harder to get a mortgage, thanks to European legislation. The Treasury today indicated that if lenders are going to abide by the new European Mortgage Credit Directive, a necessity […]

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How to pass the new mortgage affordability tests

Posted: May 20th, 2014 | Posted by: admin

New rules making it more difficult for borrowers to get a mortgage come into force tonight. We look at steps you can take to improve the chances of your application being approved The Mortgage Market Review will ensure borrowers are issued with mortgages they can afford both now and in the future If you’re thinking […]

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UK interest rates kept at record low

Posted: April 8th, 2014 | Posted by: admin

            UK interest rates have been held at 0.5% for another month, the Bank of England has said. The decision by the Bank’s Monetary Policy Committee comes five years after the record low level was first introduced. It is the first rate decision since the bank amended its “forward guidance” […]

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Mortgage approvals at their highest since late 2007

Posted: March 12th, 2014 | Posted by: admin

The number of new mortgage loans being approved for home buyers has reached its highest level for more than six years. The Bank of England says the number of mortgages approved, but not yet lent, was 76,947 in January. The figures suggest that sales will grow strongly in the coming months, which is likely to push […]

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Cash buyers ‘fueling mortgage market’

Posted: February 24th, 2014 | Posted by: admin

Around four in ten property purchases in 2013 were completed by cash buyers as mortgage lending plays a less prominent role in the housing market. The proportion of home purchases funded by mortgages dropped to 62 per cent last year, according to analysis by the Intermediary Mortgage Lenders Association (Imla). At its peak in 2006, […]

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Has the time come for a five-year mortgage fix?

Posted: January 27th, 2014 | Posted by: admin

With fears that interest rates will rise sooner rather than later, we look at whether to lock in before good mortgage fixes disappear Many homeowners and buyers have been rushing to fix their monthly mortgage payments to protect themselves from the risk of interest rate rises – so should you be joining them? UK unemployment […]

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Many Britons ‘fear mortgage arrears’

Posted: January 7th, 2014 | Posted by: admin

More than a third of people renting or with a mortgage in Britain expect to struggle to keep up with payments during 2014, a survey says. The poll of about 3,600 people for homelessness charity Shelter suggests those with children are worst affected. Some 70% of these say they are already finding it tough to […]

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