Knowledge Bank has recorded 5,211 criteria changes in October, down from 8,326 in September. While the latest figures marked a drop, Knowledge Bank says it still reflects the relentless pace of market evolution. Lenders continue to prioritise data accuracy, with 2,671 new criteria added in… The post Knowledge Bank records decrease in criteria changes in October appeared first on Mortgage Strategy.
Redwood Bank has relaxed criteria on its commercial investment and commercial owner-occupier mortgage ranges. The lender says the changes are designed to improve affordability for landlords amid difficult market conditions. It has extended its maximum mortgage term from 25 to 30 years and reduced minimum… The post Redwood Bank boosts commercial criteria appeared first on Mortgage Strategy.
The government is investigating building extra new towns to help meet its target of 1.5 million new homes by the end of this parliament, says housing secretary Steve Reed. Reed has committed to the government’s major homebuilding promise, and made his now infamous call on… The post Housing secretary hints at extra new towns when grilled on 1.5 million housebuilding targets appeared first on Mortgage Strategy.
Hodge Bank has increased its maximum loan size to £3m at 75% loan-to-value (LTV) and up to £1m at 90% LTV. The lender says it continues to work with the broker community to understand what it can do to ensure borrowers have the flexibility to… The post Hodge increases maximum loans and LTVs appeared first on Mortgage Strategy.
There are still “structural challenges” to homeownership that must be confronted, according to Financial Conduct Authority (FCA) chief executive Nikhil Rathi. Speaking at the L&G Mortgage Club conference today, Rathi praised the performance of lenders and brokers, especially during the Covid pandemic, cost of living… The post FCA chief flags up ‘structural challenges’ to homeownership appeared first on Mortgage Strategy.
With the Autumn Budget approaching, mortgage brokers say uncertainty over government housing and tax policy is the biggest external factor impacting homebuyers, research from Nottingham Building Society reveals. The research shows that the concern now ranks ahead of interest rates, inflation and even the cost… The post Brokers warn housing policy uncertainty is impacting homebuyer activity: Notts BS appeared first on Mortgage Strategy.
Barclays is cutting mortgage rates on a number of purchase, remortgage and existing customer deals by up to 21 basis points tomorrow. In the lender’s purchase range, a number of deals at 85% loan-to-value are being reduced. Within this LTV tier, a two-year fixed with… The post Barclays to cut rates by up to 21bps tomorrow appeared first on Mortgage Strategy.
Santander has announced from 17 November brokers will be able to accept product transfer offers on behalf of its clients. As part of the changes, there will be a new broker declaration where Santander will ask brokers to confirm if they have their client’s permission… The post Santander to allow brokers to accept PT offers on behalf of clients appeared first on Mortgage Strategy.
Leek Building Society has launched two 90% LTV fixed rate products, specifically designed to make placing shared ownership cases simpler for intermediaries and more accessible for buyers. The new products are available through brokers and include: a two-year fixed rate at 4.55%; and a five-year… The post Leek BS strengthens shared ownership with new 90% LTV range appeared first on Mortgage Strategy.
A third (33%) have previously used their mortgage to fund major spending, but only 18% plan to do so in future, Pepper Money reveals. The research shows the continued popularity of credit cards amongst homeowners, seen as the most convenient and accessible form of short-term,… The post Third of people previously used mortgage to fund major spending: Pepper appeared first on Mortgage Strategy.
