In an exciting development for property investors, The Mortgage Works (TMW) has announced a significant reduction in interest rates across its New Business product ranges, effective from Saturday the 20th of January 2024. The move is set to benefit buy-to-let...
All the latest breaking UK mortgage and protection news, updated daily by industry experts.
Unlocking Exclusive Mortgage Rates With Oportfolio Mortgages
When it comes to securing the best mortgage rates, timing is everything. At Oportfolio Mortgages, our commitment to providing you with the most competitive rates goes beyond what traditional brokers or price comparison sites can offer. As proud members of the PRIMIS...
The Mortgage Lender’s First Economic Update of 2024
This morning The Mortgage Lender (TML) released its first economic update of 2024, providing brokers with valuable insights into the economic landscape that will shape the mortgage and housing markets in the coming year. The report itself outlines key factors...
Would you fix your mortgage for 40 years?
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.
Accord scraps minimum income requirements for buy to let
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, the way of the future.
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.
Lending from building societies dominates market.
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 sells mortgages to Natwest
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.
Annual rental growth reaches highest level in 13 years.
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!
Halifax and its subsidiaries SLASH their valuation fees.
A lot of big changes in the mortgage processing world have happened within the last few months but we were all quite taken aback when Halifax announced last week that they would reducing their standard valuation fee across the board. Something that even experienced mortgage professionals did not see coming.
A Christmas miracle for potential new buyers?
The Rightmove House Price Index has released surprising figures this month that show the average house price coming on to the market has reduced by 0.6% compared to last month’s figures potentially encouraging new buyers over the holidays.
House prices driving you up the wall?
Figures show that the 2021 average house price is now £256,000 and London’s average soars above this at £495,000! These figures can be quite disheartening but don’t fear, there is hope on the horizon.
Mortgage arrears a thing of the past? Or just for now?
Official statistics have shown that mortgage arrears across the board have fallen and continue to fall drastically, nearing historical lows according to UK Finance.
Bridging lending – The Return
Fantastic news for people looking for a buy to let, buying at auction or, purchasing a property that might need a little TLC.
Property prices up 2.1% month-on-month.
A new report from Nationwide has confirmed everything Oportfolio have been seeing anecdotally in the last few weeks- namely, that the demand for property is far outweighing current supply. This is making for a highly competitive market, especially in the City of London and the surrounding areas.
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If you have any questions about UK mortgage news or or anything you’ve read then please get in touch. We’d love to hear from you.