Tag: LTV

Co-op Bank announces mortgage rate increase

Co-op Bank announces mortgage rate increase

The Co-operative Bank has announced plans to increase its standard variable mortgage rate (SVR) by 0.5 percentage points to 4.74 per cent from 1 May. The increase means that 54,000 mortgage borrowers will have to pay an average of £15 a month more on their mortgage. The bank has increased its rates to help offset […]

April 3, 2012 More
Lenders soften up on loan-to-value ratios

Lenders soften up on loan-to-value ratios

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 […]

February 25, 2010 More
Nationwide lowers LTVs on remortgage deals

Nationwide lowers LTVs on remortgage deals

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 […]

February 9, 2010 More
Average loan-to-value ratio eases to 70%

Average loan-to-value ratio eases to 70%

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 […]

January 25, 2010 More
Better deals for high loan to value borrowers

Better deals for high loan to value borrowers

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 […]

December 4, 2009 More
First-time buyers dominate mortgage searches

First-time buyers dominate mortgage searches

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 […]

December 3, 2009 More
First time buyers charged “obscene” interest rates

First time buyers charged “obscene” interest rates

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 […]

September 16, 2009 More
Lenders reluctant to cut mortgage rates

Lenders reluctant to cut mortgage rates

Homeowners are gradually being offered a larger choice of mortgage products, although lenders remain cagey about attracting too much business, MoneyFacts.co.uk claimed this week The number of mortgage products available dropped to a record low of 1,209 at the beginning of April, down from a peak of 11,951 products that were available in July 2007. […]

Leeds launches five-year 5.35% mortgage

Leeds launches five-year 5.35% mortgage

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 […]

August 24, 2009 More
Clydesdale approves more mortgages

Clydesdale approves more mortgages

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 […]

July 29, 2009 More
First time buyers treble in 2009

First time buyers treble in 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 […]

May 26, 2009 More
New FSA regulation threatens mortgage cap

New FSA regulation threatens mortgage cap

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 […]

March 19, 2009 More
First-time buyer applications increase as LTVs soften

First-time buyer applications increase as LTVs soften

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 […]

January 29, 2009 More
Shift to larger deposits hampers housing market recovery

Shift to larger deposits hampers housing market recovery

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 […]

January 6, 2009 More
Nationwide reintroduces 95% mortgage

Nationwide reintroduces 95% mortgage

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 […]

December 17, 2008 More
Lenders sweet on 40% deposit holders

Lenders sweet on 40% deposit holders

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 […]

September 11, 2008 More
Woolwich abandons 95% LTV

Woolwich abandons 95% LTV

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 […]

May 7, 2008 More