All the latest breaking UK mortgage and protection news, updated daily by industry experts.
Teachers Building Society has announced a major change to its mortgage criteria, confirming it will now lend up to 7 times income at 95% loan-to-value (LTV) for teachers and education professionals. In this blog, we will run through the changes from Teachers BS, and...
Bank of Ireland has announced a brilliant shakeup to its Bespoke mortgage range, increasing maximum income multiples and loan sizes to help more buyers access higher-value properties and lending options that weren’t previously available. The changes should help...
Skipton Building Society has built a strong reputation for backing first-time buyers, particularly those who might otherwise struggle to get onto the property ladder. Whether it’s helping renters buy a home without needing a traditional deposit, or allowing buyers to...
With rent at an all-time high and independence being at the forefront of every young person’s mind, buying your first home can really make you feel like you have taken a huge leap in life and achieved something. But unfortunately, it’s not always as straight forward as saving a deposit and getting a mortgage.
This week another positive post-covid lender update has been revealed as Accord Mortgages announced that they will be increasing their maximum mortgage loan to values.
Hearing ‘Rates on the rise’ in the news has become something to dread but is that really sensible? And is it something we should actively worry about?
West Midlands based building society The West Brom have announced that they are launching 10 year fixed mortgage products, something that could be a massive game changer for buyers and remortgagers.
Has your fixed rate come to an end? Are you like one of the thousands of homeowners who has put off restructuring their mortgage over the past year and are now stuck on the lender’s ridiculously high standard variable rate?
In the financial services sector, there is one burning question on everybody’s lips, will the Bank of England raise interest rates? Its not entirely unbelievable that they wouldn’t but it seems that now with inflation rising to the highest levels in 10 years, the BOE need to do something calm the waters before things get out of hand.
Since the beginning of the pandemic in early 2020, a lot of mortgage lenders changed their stances on various parts of their criteria to both protect themselves from any potential negative effects of the lockdowns but also to help loyal existing mortgage customers who may find themselves struggling. Santander was one of these lenders.
TSB have just sent a message out to all brokers to say that they have increased their maximum Loan to Value (LTV) from 90% to 95% for self-employed and day rate contractor applicants meaning that potential new TSB clients could put down as little as 5% deposit on a new purchase.
The mortgage arm of Richard Branson’s Virgin Group conglomerate Virgin Money, have announced that they are taking the initiative to help the ever-growing number of buyers looking at purchasing under the shared ownership scheme.
According to financial information company Monefacts, 5% deposit mortgages are currently cheaper than they have ever been in the history of their recording. In rates terms, the average interest rate for a 95% mortgage on both a 2 year fixed period and a 5 year fixed period are at an all-time low.
Rental growth has increased exponentially in the past year, and we believe that now is a better time than any to consider purchasing or remortgaging a buy to let. MetroBank have today announced that they will be changing their BTL loan to values to 80%, up from their previous limit of 75%.
Starting from the 2nd of December, Nationwide building society have re-evaluated and revitalised their criteria for bonuses, commission, and overtime income on pay slips. The new changes to these things mean that more income will be considered when assessing a borrower’s affordability.
