News Tag: LTV
February 25, 2010
Lenders are softening up on their loan-to-value (LTV) ratios, according to MoneyExpert.com.
Research by the price comparison website shows the number of fixed-rate deals at 90% LTV or above almost doubling in the last 12 months, with 147 products to choose from today, up from 78 this time last year.
However, those seeking LTVs of above 90% have only 61 home loans to ...
Lenders soften up on loan-to-value ratios
by Gill Montia
February 9, 2010
Nationwide has lowered the deposit required for some of its most competitive remortaging deals, from 40% to 30%.
From today, all the lender's existing 60% loan-to-value (LTV) fixed and tracker remortgage loans are available at up to 70%.
Since the onset of the credit crisis, remortgaging activity has been in a steady decline as lower interest rates and impaired credit histories meant borrowers ...
Nationwide lowers LTVs on remortgage deals
by Gill Montia
January 25, 2010
The average loan-to-value (LTV) ratio on house purchase loans increased to 70% in December 2009, leaving the typical homebuyer requiring a 30% deposit.
According to research from the Mortgage Advice Bureau, the tendency for lenders to require large deposits in exchange for reasonable rates is softening, having improved from an average LTV of 67% in November and 69% across the final ...
Average loan-to-value ratio eases to 70%
by Gill Montia
December 4, 2009
First-time buyers are finding it easier to get a foot on the property ladder, according to independent mortgage adviser, Mortgageforce.co.uk.
Better deals for high loan to value (LTV) borrowers meant that in November, 14% of all transactions arranged by the online broker were for those buying their first home, compared to the usual 10%. The majority borrowed 85% of the ...
Better deals for high loan to value borrowers
by Gill Montia
December 3, 2009
Figures from realpricecomparison.com show that in October and November, first-time buyers accounted for nearly a third of all mortgage searches.
However, small deposits mean would-be homeowners are seeking out deals at 80% loan-to-value (LTV) ratio or above, with around 8.5% of searches for mortgages with LTVs of between 90% and 95%.
According to the price comparison website, average rates for 80% LTV loans are ...
First-time buyers dominate mortgage searches
by Gill Montia
September 16, 2009
Lenders continue to offer mortgages at an "obscene" rate of interest despite the cost of interbank borrowing falling to a record low.
Paul Holmes, chief executive of first-time buyer advice site Firstrung, said lenders have "no excuse" for the rates they are charging.
Banks and building societies are simply using record low interest rates to boost their profit margins, Holmes claimed.
Although some ...
First time buyers charged “obscene” interest rates
by David Masters
Lenders reluctant to cut mortgage rates
by David Masters
August 24, 2009
Leeds Building Society has launched a new fixed-rate mortgage for customers with a deposit of at least 25%.
Interest on the five-year mortgage is fixed at 5.35%, and customers can borrow at up to 75% loan-to-value (LTV).
Borrowers can make up to 10% capital repayments each year without penalty.
Kim Rebecchi, Leeds director of sales and marketing, said the mortgage is a "fantastic opportunity" for ...
Leeds launches five-year 5.35% mortgage
by David Masters
July 29, 2009
Clydesdale Bank has approved more mortgages in the past two months than it did this time last year.
The bank approved 30% more home loans in May and June compared to the same period in 2008.
This rise in approvals follows Clydesdale's pledge last week to release a further £1 billion of new lending to mortgage and business customers.
Clydesdale, together with sister-bank Yorkshire, is one ...
Clydesdale approves more mortgages
by David Masters
May 26, 2009
First time buyers are taking advantage of plummeting house prices, according to figures released this week by mortgage experts John Charcol.
A fifth of mortgage applications during the first four months of 2009 came from first time buyers - an increase of 350% compared to the final four months of 2008.
A significant proportion of these first time buyers put down a deposit ...
First time buyers treble in 2009
by David Masters
March 19, 2009
Proposals from the Financial Services Authority (FSA) on future regulation of the UK banking sector include the possibility of a cap on mortgages, in terms of their loan-to-value (LTV) or loan-to-income ratios.
The woes of the recession are linked to a decade of house price inflation fuelled by irresponsible lending by banks and others and epitomised in the 125% mortgage once offered ...
New FSA regulation threatens mortgage cap
by Gill Montia
January 29, 2009
Mortgage search engine, mform.co.uk, is convinced that first-time buyers are returning to the market in force.
According to the firm's research, applications from this group of house purchasers have increased 30% and people buying their first home now account for 40% of all users of the mform website.
In October of last year, the figure stood at less than 10% and ...
First-time buyer applications increase as LTVs soften
by Gill Montia
January 6, 2009
Financial data provider, Moneyfacts.co.uk, has published new figures showing that 25% of mortgages available in the UK to new borrowers require a deposit of at least 40%.
Those who can only manage a deposit of 5% or less have a mere 21 home loans to choose from, compared with over 1,200 in February of last year.
Borrowers who can put ...
Shift to larger deposits hampers housing market recovery
by Gill Montia
December 17, 2008
Nationwide Building Society has reintroduced a mortgage with a 95% loan-to-value ratio (LTV).
The deal is only available to existing customers who are moving house and borrowers signing up for the loan will be on a two-year fix at 7.18% for the no fee version.
The minimum loan size is £25,000 and for those prepared to pay a fee of £599 the rate goes down ...
Nationwide reintroduces 95% mortgage
by Gill Montia
September 11, 2008
New research from fool.co.uk shows just how dramatically the mortgage market has swung in favour of those who have large deposits.
According to the financial website, home buyers looking for a loan-to-value (LTV) ratio of 60% can access around 4,588 mortgage products.
For those even better placed and needing to borrow less than 60% of their property's value the choice of home ...
Lenders sweet on 40% deposit holders
by Gill Montia
May 7, 2008
Woolwich has become the latest mortgage company to reduce its loan-to-value (LTV) ratio for new customers.
The lender, which forms part of the Barclays group, is withdrawing all products with LTVs exceeding 90% from Thursday 8 May.
These include a 5% LTV lifetime tracker plus five-year fixed-rate and standard variable rate loans.
The move, which follows last week's decision by Nationwide to introduce a minimum 10% ...
Woolwich abandons 95% LTV
by Gill Montia
