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12
OCT
2016

Childcare conundrum for mortgage applicants

Mortgage seekers are asking family and friends to look after their children to reduce their outgoings while applying for a loan, a survey has suggested. Childcare is among the costs considered by mortgage providers when deciding whether an applicant should be given a home loan....
10
OCT
2016

Age gap among first-time buyers sets in, the Halifax says

A gap between the average age of first-time buyers in different parts of the UK has set in despite property price growth slowing, a lender has said. The Halifax said that UK property prices rose by 5.8% in September compared with a year ago. This offers some cheer to first-timers...
09
OCT
2016

Interest-only borrowers face £6.1bn repayment shortfall

27% of all interest-only mortgage holders may not be able to pay back their mortgage, with the expected average unsettled debt estimated to be £21,000, according to research from OneFamily. More than a million interest-only mortgages will mature over the next 10 years, meaning...
07
OCT
2016

House price growth plateaus: Halifax

House price growth has cooled, according to the latest Halifax House Price Index. House prices in the three months to September were 0.1% lower than in the previous three months (April-June). This compared with a 0.7% rise in August and is the lowest quarterly rate since November...
11
SEP
2016

BTL Landlords’ Confidence Stabilising

TMW has issued its Buy-to-Let Barometer for Q2 2016, which reveals that landlords’ confidence appears to be stabilising. It also indicates that: 43% see the Brexit vote as negative for the private rental sector. 61% believe that last year’s Budget will decrease their...
11
MAY
2016

Interest-only crisis drives lump sum equity release sales

Imminent interest-only mortgage due dates have driven a surge in sales of lump sum equity release plans, according to Key Retirement data. 40% of customers are now taking a single lump sum advance to reduce their debts, up from 30% from Q1 2015. Key believes the surge in sales...
09
MAY
2016

Nationwide raises home loan age limit to 85 years

Nationwide is raising its age limit for people paying off mortgages by 10 years to 85, in the latest sign of the impact of rising house prices on buyers. The building society said the increase was due to “growing demand”, and the limit would be in force from July. It...
06
MAY
2016

Halifax raises upper age limit to 80

Halifax is raising upper age limits from 75 to 80 on all mortgages, new applications, further advances and product transfers. Halifax said that for joint applications, the term must end before the oldest borrower’s 80th birthday, and that proof of retirement income would be...
03
MAY
2016

‘Bank of Mum and Dad’ to lend £5bn in 2016

The ‘Bank of Mum and Dad’ is on track to lend over £5 billion in 2016, making it the equivalent of a top 10 mortgage lender in the UK. The research from Legal & General and Cebr found that family and friends will be involved in 25% of all property transactions...
29
APR
2016

The Mortgage Works changes lending criteria for Buy-to-Let mortgages

The Mortgage Works is the first lender to tighten-up its lending criteria for buy-to-let mortgages following new guidance from the FCA. From 11 May the lender’s rental coverage requirement will increase from 125% to 145% and the maximum loan-to-value allowed will be reduced...
16
MAR
2016

Chancellor confirms extra 3% stamp duty – and even ‘significant property investors’ can’t escape

Buy-to-let landlords have been dealt a new blow in the Budget after the Chancellor abandoned plans to exempt ‘significant investors’ from the extra 3 per cent stamp duty charges and snubbed them in a capital gains tax cut. From April, anyone purchasing an additional...
16
FEB
2016

BTL landlords’ confidence continues to decline

TMW has issued its Buy-to-Let Barometer for Q4 2015, which reveals that confidence is at its lowest over the past 8 years. It also indicates that: 13% intend to apply for new BTL mortgages before the Stamp Duty increases impact 41% are considering moving their BTL portfolios into...
15
FEB
2016

Help to Buy creates 43% homebuilding surge

New research has found that 43% of new homes built under the Help to Buy: equity loan scheme since 2013 would have not been built without introduction of the scheme. A report published today also found that 82% of buyers under Help to Buy: equity loan would not have been able to...
12
JAN
2016

10 Things You Absolutely Need To Know About Life Insurance

Some good information and advice in this article. Read more…  
07
JAN
2016

Dudley Building Society scraps upper age limits across entire range

Dudley Building Society recently received national press attention as they scrapped upper age limits across their whole product range. Over the last decade there has been an increasing shift towards a flexible approach to retirement ages (especially following the removal of the...
05
JAN
2016

Newsletter – January 2016

January newsletter is now available. Click here… To subscribe for future issues, click here…
05
JAN
2016

Ten buyers for each property

House hunters must be prepared to battle it out as latest figures show there are 10 buyers for each property for sale. The gap between the number of buyers and the number of properties for sale is growing and is fuelling the housing crisis, according to the National Association...
04
JAN
2016

Government to fast-track affordable home building

David Cameron will today announce government plans to directly commission thousands of new affordable homes on publicly owned land. The first wave of up to 13,000 will start on 4 sites outside of London in 2016 – up to 40% of which will be affordable ‘starter’ homes. The...
03
JAN
2016

Income Protection Statistics

This information, provided by Friends Life, places into focus the reasons why income protection insurance should not be ignored.
02
JAN
2016

More details emerge on BTL stamp duty increase

A consultation paper that was published by the Treasury this week, provided more clarity regarding the application of the increases announced in the Chancellor’s Autumn Statement. In particular, this covered the position of existing BTL landlords buying a new residential...
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