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24th of August 2011
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News Tag: loan-to-value

July 12, 2010

SVR huggers miss out on cheaper mortgage payments

by Gill Montia
”SVR
New research from Yorkshire Building Society shows that the number of mortgage borrowers now on their lenders’ standard variable rates (SVRs) is over 2.3 million, representing 28% of the total mortgage market. Typically these households have come off fixed-term deals and for one reason or another have chosen to revert to their lenders' SVRs, rather than remortgage. However, the building ...




May 12, 2010

Post Office courts first-time buyers with 90% LTV interest only deal

by Gill Montia
”Post
The Post Office has launched new mortgage deals with first-time buyers in mind. The lender is not only happy with a minimum deposit of 10% but is also allowing borrowers to choose between an interest only and capital plus interest repayment option. For a two-year fix the rate is 5.45%, for a five-year 5.99%, and both loans come ...




April 13, 2010

New mortgage lending stages modest recovery

by Gill Montia
”New
The number of loans advanced for house purchases increased by 12% in February, showing a modest recovery on January when the figures were weak due to the end of the stamp-duty holiday and the severe winter weather. According to the Council of Mortgage Lenders (CML) 35,000 house purchase loans were advanced worth £5 billion, up 49% in volume and 67% in ...




March 16, 2010

Mortgage deals up 70% in under a year

by Gill Montia
”Mortgage
New research from Moneyfacts.co.uk claims there has been a 70% rise in the number of mortgage products available in just under a year. According to the financial website, borrowers now have 2,053 deals to choose from, compared with 1,209 in April 2009, when the figure bottomed out. Furthermore, a significant boost has occurred since the beginning of January, with the number ...




February 9, 2010

Nationwide lowers LTVs on remortgage deals

by Gill Montia
”Nationwide
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 ...




December 4, 2009

Better deals for high loan to value borrowers

by Gill Montia
”Better
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 ...




December 3, 2009

First-time buyers dominate mortgage searches

by Gill Montia
”First-time
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 ...




July 29, 2009

Clydesdale approves more mortgages

by David Masters
”Clydesdale
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 ...




July 9, 2009

Nationwide offers 125% mortgage

by Gill Montia
”Nationwide
In a surprise move, Nationwide Building Society is offering a new mortgage with a loan-to-value (LTV) ratio of 125%. The deal is only available to existing customers who are in negative equity and need to move house. Even then borrowers will be selected very carefully. The building society says it can provide a loan for 95% of the value of a new home at a ...




May 14, 2009

A&L tempts first-time buyers with a 15% deposit

by Gill Montia
A&L tempts first-time buyers with a 15% deposit
Alliance & Leicester (A&L;) has launched a new mortgage aimed at first-time buyers with a 15% deposit. The three-year fix, which is fee free, comes with a maximum loan-to-value ratio of 85%, an interest rate of 5.99%, a maximum loan size of £250,000 and a free valuation. Latest figures from the Council of Mortgage Lenders (CML) show first-time buyer purchases at ...




April 20, 2009

Government housing adviser defends 100% mortgages

by Gill Montia
Government housing adviser defends 100% mortgages
A member of the Bank of England's Monetary Policy Committee has taken up the cause of would-be homeowners who need to borrow 100% of the value of a home. Kate Barker, who is also a Government adviser on the UK housing market, has publicly opposed Prime Minister Gordon Brown in his suggestion that such loans may be banned. High loan-to-value mortgages have played ...




April 7, 2009

Mortgage lenders remain cautious over loan-to-value ratios

by Gill Montia
Mortgage lenders remain cautious over loan-to-value ratios
The anxiously awaited recovery of the UK housing market is still blighted by mortgage lenders' demands for high deposits. Latest figures from financial website, Moneyfacts, show the number of home loans on offer increasing to 1,485, up from 1,398 in March. However, over two-thirds of the deals on the market require a deposit of at least 25%. The proportion is ...




March 19, 2009

New FSA regulation threatens mortgage cap

by Gill Montia
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 epitomised in the 125% mortgage once offered ...




January 6, 2009

Shift to larger deposits hampers housing market recovery

by Gill Montia
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 year. Borrowers who can put ...




December 17, 2008

Nationwide reintroduces 95% mortgage

by Gill Montia
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 to pay a fee of £599 the rate goes down ...




October 10, 2008

Mortgage providers uninspired by £500bn rescue plan

by Gill Montia
Mortgage providers uninspired by £500bn rescue plan
The announcement earlier this week of the £500 billion Government package of support for UK banks, plus a 0.5% cut in the Bank of England's base rate, has met with disappointing results in the mortgage market. According to financial website, Moneyfacts.co.uk, home loan providers have continued to withdraw products with high loan-to-value (LTV) ratios, leaving the number of deals that do ...




September 11, 2008

Lenders sweet on 40% deposit holders

by Gill Montia
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 their property's value the choice of home ...




June 12, 2008

Abbey deters high LTV customers with arrangement fees

by Gill Montia
Abbey deters high LTV customers with arrangement fees
Abbey has become the first leading UK mortgage lender to demand advanced payment of arrangement fees on some of its loans. Customers needing to borrow 95% of a property's value will have to trump up £2,499 rather than add the charge to their loan. Lenders have already applied penalties to the 95% mortgage market by saving their most attractive rates for ...




May 9, 2008

A&L hikes rates for low deposit borrowers

by Gill Montia
A&L hikes rates for low deposit borrowers
Alliance & Leicester, the UK's ninth-largest mortgage lender, has increased interest rates for new customers with less than a 25% deposit. Borrowers needing to raise between 76% and 90% of a property's value will now be charged 6.49% on a two-year fixed-rate mortgage, rather than 5.74%. The 0.75 percentage point increase adds £864 per annum to the cost of a typical ...




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