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 [...]
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 [...]
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, [...]
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 [...]
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 [...]