In their recent trading statement, Mortgage Advice Bureau reported: UK gross new mortgage lending for the first five months of the year was 28% lower than in the same period in 2022, as rising costs of living and higher interest rates created further affordability...
As previously reported (see here), the Chancellor has announced a charter to help home owners who are suffering from skyrocketing interest rates. Under the terms of the charter homeowners’ will not be forced out by their lenders for at least a year after the first...
The Telegraph has reported that the Chancellors mortgage rescue deal with banks will exclude buy-to-let properties. The article can be read here (subscription may necessary) stating that the The formal Mortgage Charter agreed with banks was published on the Government...
The average price of two- and five-year fixed-rate mortgages in the UK has hit its highest level for seven months, putting further pressure on borrowers who are reaching the end of their deals. Data from the financial information firm Moneyfacts showed the cost of a...
The House of Commons Library has published an overview of how many mortgage-holders became trapped in expensive deals, and of efforts made to help resolve the situation. For the paper, click here. In summary: Who are mortgage prisoners? Although definitions vary,...
Nearly half of landlords (47%) believed that rules instructing them to upgrade properties to an EPC rating of C or higher was guidance and not the law, according to research by Mortgage Advice Bureau. In 2021, the government issued a deadline of 2025 for landlords to...
The Telegraph have run an article about the danger of letting a property on a standard residential mortgage. It can be seen here (subscription may be required) and points out that ‘failing to notify your bank about letting a property out may seem like a small...
The Financial Conduct Authority (FCA) has updating borrowers’ responsibilities to their existing mortgage holders, will only cover ‘regulated’ products. You can see the full details here. This means that buy-to-let mortgages, which are deemed to be ‘unregulated...
A building society that last summer scrapped all lending on some holiday homes has now come up with another unusual policy - not charging fees to borrowers who fall into arrears.In August the Leeds Building Society decided that it would continue with buy to let loans...
Barry Webb, chief executive of Mortgage Saving Experts has commented that landlords, battered by high interest rates and tightening energy-efficiency regulations, are losing patience with the property market. Webb has noticed this particularly in the south of the...
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Today, Santander announced several changes to its residential and buy-to-let mortgage offerings: For landlord...
Buy Association has published an article in which they say that interest-only mortgages indeed offer a way to keep...
Research by comparison website Moneyfacts suggests that building societies are currently offering the most competitive...