Home buyers to stump up 40 per cent deposits as TSB and Barclays stop handing out mortgages

Now home buyers need to stump up 40 per cent deposits to get a mortgage as economic devastation from coronavirus threatens a new credit crunch TSB has withdrawn two-year mortgage deals with less than 40 per cent deposits Barclays has ended mortgages for borrowers with less than a 25 per cent deposit A Bank of … Read more

How will the Prime Ministers plan to offer 95% mortgages work?

Prime Minister Boris Johnson today promised to turn ‘generation rent into generation buy’ with plans to boost the availability of long-term mortgages for homebuyers with a small deposit. In a speech to the virtual Conservative Party conference the PM said up to two million people who could afford repayments cannot currently get home loans. He … Read more

Postcodes with biggest house price increase according to Barclays Mortgages Postcode Property Index

House prices in Oldham are increasing more than in anywhere else in UK, at DOUBLE the national average – while Croydon is seeing the biggest growth in London House prices in 0L8, in Oldham, Greater Manchester, have seen the biggest rise Property value increased by an average of 5.7 per cent in the last 12 … Read more

Give homeowners help to pay their mortgages, think tank tells government

Give homeowners help to pay their mortgages, think tank tells government as payment holidays draw to a close in weeks Homeowners have been able to take a mortgage holiday during lockdown As part of the government scheme, those who paused payments have not been officially penalised on their credit reports That protection ends on 31 … Read more

Bank of Scotland facing court over shared appreciation mortgages

Bank of Scotland facing court battle with homeowners stung by debts linked to house prices after shared appreciation mortgage scandal negotiations fail Shared appreciation mortgages have left elderly homeowners owing Bank of Scotland and Barclays enormous debts due to house price inflation  Law firm Teacher Stern has been fighting for fairer charges for those affected … Read more

HSBC axes 90% mortgages hitting first-time buyers

First-time buyers hit as HSBC axes 90% mortgages amid worries that a surge in demand ‘put property purchases at risk’ HSBC will temporarily suspend deals for borrowers with a 10 per cent deposit Most lenders pulled these deals earlier this year due to reduced staff numbers As of this morning there were just 62 90 … Read more

Virgin Money launch new 90% LTV mortgages with a number of restrictions

First-time buyers with a 10 per cent deposit have more mortgage options after Virgin Money unveiled four 90 per cent deals fixed for seven or 10 years.  However, the deals have some restrictive elements. Firstly, buyers must fix for seven or 10 years – much longer than most fixed rates which last two or five years … Read more

Cheap mortgages may soon be a thing of the past as experts warn ‘perfect storm’ could push up rates

Mortgage rates may be about to get more expensive despite unprecedented measures from the Bank of England designed to keep them low. Brokers say a ‘perfect storm’ of issues indicate that mortgage rates, which are currently still at historical lows, may soon rise as the coronavirus lockdown ravages many households’ finances. At the same time, … Read more