Santander joins mortgage lenders turning off the tap for self-employed with new 40% deposit rule

Santander has become the latest lender to impose harsher restrictions on self-employed borrowers, excluding them from its lower-deposit mortgage deals.  The bank has said that new self-employed customers will only be offered mortgages to cover a maximum of 60 per cent of a property’s value. That means self-employed first-time buyers and most home movers will … Read more Santander joins mortgage lenders turning off the tap for self-employed with new 40% deposit rule

Father breaks down in tears after son, 24, pays off entire mortgage

Touching moment father breaks down in tears after YouTuber son, 24, reveals he has paid off his ‘every penny of his mortgage’ so that he can retire early Jamie Nyland, 24, from Gloucestershire, paid off his father Richard’s mortgage  Social media star, who has over 2.3m followers, shared clip of emotional moment Told his father: … Read more Father breaks down in tears after son, 24, pays off entire mortgage

It will be easier to get a 10% deposit mortgage in 2021, say experts – and rates could drop too

Aspiring homeowners with low deposits had a torrid year in 2020, as deals vanished from the market and rates shot up.  However, experts have now said there are reasons for optimism in 2021 as lenders return to the market.  According to figures released by comparison site Moneyfacts, there are now around 160 deals available for … Read more It will be easier to get a 10% deposit mortgage in 2021, say experts – and rates could drop too

Tamzin Outhwaite reveals she has started to ‘sell things’ to pay her mortgage

Tamzin Outhwaite reveals she has started to ‘sell things’ to pay her mortgage as acting work dries up amid coronavirus pandemic By Charlotte Dean For Mailonline Published: 12:59 GMT, 23 December 2020 | Updated: 13:06 GMT, 23 December 2020 Tamzin Outhwaite has revealed she is selling her unwanted belongings so she is able to pay … Read more Tamzin Outhwaite reveals she has started to ‘sell things’ to pay her mortgage

Metro Bank sells off a third of its mortgage book to NatWest

Metro Bank sells off a third of its mortgage book to NatWest: What’s behind the move and how does it affect customers? The challenger bank has sold a third of its residential mortgages to NatWest Around 13,000 loans will be transferred across in the next 18 months Metro Bank says ‘nothing changes at the moment’ … Read more Metro Bank sells off a third of its mortgage book to NatWest

End of mortgage drought as banks gear up for price war in New Year

End of mortgage drought as banks gear up for price war in New Year By Helen Cahill, Financial Mail On Sunday Published: 21:50 GMT, 19 December 2020 | Updated: 22:28 GMT, 19 December 2020 Banks have kick-started a mortgage price war, ending four months of rate hikes.  In a report, the Bank of England revealed … Read more End of mortgage drought as banks gear up for price war in New Year

Mortgage lenders turn against self-employed workers

Mortgage lenders turn against self-employed workers even if they have healthy incomes By Miles Dilworth For The Daily Mail Published: 22:00 GMT, 15 December 2020 | Updated: 22:36 GMT, 15 December 2020 Self-employed workers with healthy incomes are having mortgage applications unfairly rejected, experts warn. Banks are imposing stricter checks on anyone who works for … Read more Mortgage lenders turn against self-employed workers

ASK TONY: We paid off our mortgage but our bank won’t let go

We redeemed our mortgage with Lloyds in 2013, but recently discovered that the bank did not remove its legal charge. My wife and I took the mortgage with TSB in 1985. This became a Lloyds TSB mortgage when the banks merged. Following Money Mail’s advice, whenever the interest rate decreased we kept our repayments at … Read more ASK TONY: We paid off our mortgage but our bank won’t let go

How do I take part in the Halifax mortgage prize draw?

Halifax will pay off the mortgage of 10 customers next month in a prize draw: What do you need to do to take part? Halifax offers a monthly prize draw that pays off a home loan The competition launched in November 2018 and relaunched in May this year In January, it will pay off 10 … Read more How do I take part in the Halifax mortgage prize draw?

First-time buyer 90% mortgages are reserved for ‘gold-plated’ borrowers, warn mortgage brokers

Aspiring homeowners hoping to buy their first property with a 10 per cent deposit face limited choice and higher costs than they did a year ago. Of the 86 mortgages available to first-time buyers with a 10 per cent deposit, only 25 of these mortgages are available to all, according to analysis by Defaqto. It … Read more First-time buyer 90% mortgages are reserved for ‘gold-plated’ borrowers, warn mortgage brokers