Buy-to-let mortgages flood back with 200 launched in March – but rates are highest since 2019

Landlords are seeing the choice of available mortgage deals increase as the number of products on the market rose by 233 last month alone. Mortgage options increased for the fifth consecutive month in March meaning there are a total of 2,333 buy-to-let products now available, according to the latest Moneyfacts data. This means the number … Read more

MP calls for investigation after banks refuse mortgages for workers furloughed the month prior

MPs are demanding an investigation after it emerged leading High Street banks are refusing mortage applications for furloughed workers. The claims directly go against promises made by Chancellor Rishi Sunak that people using the governement support scheme would not be blacklisted by lenders.   High Street banks including NatWest, Nationwide and Lloyds admit they reject mortgage and … Read more

Mortgages with 5% deposits are back – but watch out for stricter rules and higher rates

Aspiring homeowners are being offered a potential leg-up as mortgage deals for those hoping to buy with a five per cent deposit re-emerge. Several mortgage lenders including Bank of Ireland, Coventry Building Society and Accord, part of Yorkshire Building Society, are now offering 95 per cent loan-to-value deals. In addition, several other major lenders are … Read more

Will green mortgages encourage landlords to improve energy efficiency?

Landlords could get preferential treatment when applying for mortgages if their properties are energy efficient, as lenders begin to launch new green products to the market.   This week, Paragon Bank launched a new range of buy-to-let mortgages which offer lower-deposit options to landlords whose properties have an Energy Performance Certificate rating between A and C. … Read more

Scottish Mortgage’s James Anderson to retire next year

James Anderson, joint manager of Scottish Mortgage, has announced he will retire from Baillie Gifford in April next year.  The stalwart of the the £16billion investment trust will pass full reins to current co-manager Tom Slater, who will also be joined by Lawrence Burns, as a new deputy manager.  Anderson has managed Scottish Mortgage since 2000, … Read more

5% deposit mortgages are back from Yorkshire Building Society

Yorkshire Building Society has become the first lender to bring a range of mortgages with 5 per cent deposits back to the market, potentially heralding a price war that could benefit first-time buyers. Accord Mortgages, the intermediary arm of the building society, is launching the mortgages tomorrow with a five-year fixed rate of 3.99 per … Read more

Lockdown savers pay off big chunks of mortgages but others struggle

As the easing of lockdown apparoaches, Britain’s mortgage borrowers will rre-emerge from their homes with differing circumstances. Whilst some, dubbed lockdown savers, have financially benefited and saved during the pandemic, others have been compelled to use mortgage holidays. Some of the former set of borrowers have been paying off large chunks of their mortgages, while … Read more

Metro Bank launches mortgages for those with low credit scores, missed payments and repossessions

Metro Bank launches ‘near prime’ mortgages for borrowers with low credit scores, missed payments and even repossessions on their record New mortgages will have less strict credit checks than standard home loans  Those who have missed mortgage or loan payments, declared bankruptcy and even had a home repossessed will be eligible under certain circumstances They … Read more