Nationwide lets first-time buyers borrow 20% MORE as it raises mortgage limit to 5.5 times salary – but they must lock in for five years UK’s second-largest mortgage lender changes loan-to-income calculation – but only for first-time buyers fixing their rate for between five and 10 years They will be able to borrow 5.5 times … Read more
I am a first-time buyer, and have just made an offer on my dream property. The seller accepted, and I began my mortgage application. I had already passed the lender’s affordability checks for the size of loan I require. However, I have now hit a bump in the road. A surveyor visited the property to … Read more
Between the start of the coronavirus pandemic and the mortgage holiday cut-off date two weeks ago, hundreds of thousands of home owners applied for payment breaks each month. According to UK Finance, 2.7million people in the UK took advantage of the scheme, which allowed them to pause their mortgage payments for up to six months … Read more
The mortgage rate at LESS THAN 1%: Hinckley & Rugby BS launches lowest interest home loan since before Covid hit at just 0.99% Building society tipped to launch mortgage with market-leading 0.99% rate Rates lower than 1% have not been since since the beginning of the pandemic It is a discounted variable rate which means … Read more
A significant number of homeowners could be overpaying for their home insurance because they bought a policy from their mortgage provider, instead of searching for the best deal. Almost a third of homeowners have taken out an insurance policy through their mortgage provider at the time of their house purchase, according to research by Compare … Read more
Missing a mortgage payment is something most homeowners would never dream of doing but often it can be taken out of their control. Throw an illness, family emergency or global pandemic into the mix, and paying the monthly balance can quickly become a struggle. This is especially true for those without significant savings. Currently, 43 per cent … Read more
Dr Anthony McGrath, 48, (pictured in an undated photo) has been ordered to pay back £564,518 by a judge or face another five years being added to his sentence A debt-ridden orthopaedic surgeon who masterminded a massive insurance scam and mortgage fraud has been given a three month deadline to pay back over half a million … Read more
Pandemic property boom drives mortgage approvals up 38% on long-term average, Bank of England data shows Mortgages for new home purchases 38% above 10-year average in February Approvals dipped slightly compared with January but could surge again following the extension of the stamp duty tax holiday and first-time buyer boosts People borrowed £6.2bn against their … Read more
This is Money spoke to three mortgage prisoners about the impact it has had on their lives. Some of them are on temporary lower rates, thanks to Covid-19 – although it is unclear when this temporary respite ends. Claire Johnson, 57, from Sheffield: Highest interest rate paid 5.4% Claire Johnson, pictured with her nephew, says … Read more
This is Money spoke to three mortgage prisoners about the impact it has had on their lives. Some of them are on temporary lower rates, thanks to Covid-19 – although it is unclear when this temporary respite ends. Claire Johnson, 57, from Sheffield: Highest interest rate paid 5.4% Claire Johnson, pictured with her nephew, says … Read more