Thinking of becoming a property developer? Bravo. According to a 2023 article in The Big Issue, there are around 261,000 empty or abandoned homes in the UK. Yes there is a housing crisis in England, but with over 200,000 empty properties in desperate need of...
NatWest has announced significant changes to its New Business product range, set to take effect from the 30th of April 2024. These changes include the introduction of new high value mortgages intended for customers seeking to purchase or remortgage properties that are...
In a message released this morning, and following in suit with other UK mortgage lenders, TSB has announced significant changes to its mortgage rates, affecting both residential homeowners and buy-to-let landlords. The bank revealed plans to withdraw certain mortgage...
Is your Rightmove search page looking a bit slim? No, you haven’t accidentally put too many bedrooms in the search bar or chose the wrong property type, that is genuinely the number of homes on the market right now.
Niche lenders such as The Mortgage Lender and Foundation Home Loans are trying new affordability boundaries and products designed to help professionals, self-employed people and people with more complex income sources get a mortgage.
Our client was looking to buy his dream home. The estate agents advised that he would need to put forward a good offer to stand a chance of being considered by the seller. When the valuation came back the property was valued at £10,000 less than the agreed sale price meaning that the client would have to make up the difference himself. That’s where Oportfolio jumped in to help.
The lender Even has been set up as a new business venture by the founders of the online estate agency Nested with an aim to specifically help out first-time buyers by helping them raising a deposit and also by being more generous with income affordability. The new initiative will act in a similar way to the existing help to buy scheme which has been running since 2013 through the government’s homes England division.
Would you keep your car for 40 years? Most people would say no as your car ages and degrades and becomes more and more expensive to keep running. Well, what if your car dealer guaranteed that your car would cost you the same amount every month throughout its 40 years with you? This week Kensington mortgages launched its first long-term fixed rate mortgages, allowing borrowers to freeze their monthly payments for between 11 and 40 years.
Buy to let mortgages have always made up a significant portion of the mortgage market and as rental growth continues to increase, as we reported last week, more and more people are looking into their options with either creating a property portfolio or possibly just renting out their cherished former home that they can’t bear to part with.
Green mortgages are mortgages offered to buyers either as an incentive to buy a more energy-efficient property or to make energy efficiency improvements in their current home. Most green mortgages see lenders offer a more attractive interest rate, or a form of cashback to buyers that you won’t get with standard mortgage products.
Mortgage lending by building societies such as nationwide and Leeds Building Society has risen by 22% in Quarter 3 of 2021 compared to Quarter 3 in 2020. Building societies now reportedly hold a 23% share of the total mortgage market.
Metrobank have announced that they have sold a portfolio of owner-occupied residential mortgages to NatWest as of today – Friday 19th of November. The bold decision is thought to have been made so that Metrobank can invest in other more diverse areas of money lending.
Our client made the initial climb on to the housing ladder by securing a shared ownership mortgage on his first home. After a few years of living in the property he wanted to explore his options with purchasing 100% of the shares in his home, something known as staircasing. That’s where we come in.
In newly release figures from property website Zoopla, annual rental growth reached the highest level for 13 years at 4.6% in the third quarter. The average cost of renting a home in the UK, excluding London, now stands at £809 per month, 6% more than a year earlier!
After several years of living the city lifestyle, our client wanted to buy his dream second family home in the idyllic historical coastal county of Cornwall in the Southwest of England. His main concern was that he wanted to keep his current property and didn’t have access to enough personal funds to put down a deposit on the new second property.
If you have any questions about UK mortgage news or anything you’ve read then please get in touch. We’d love to hear from you.
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