- First-time buyers still gung-ho for 2020 move
The vast majority, 93 per cent, of first-time buyers report that they are still considering buying a house in 2020, with 51 per cent saying they “definitely” will, shows research from Legal & General. The report shows that 35 per cent of FTBs say that Covid-19 has had “no impact” on their plans to buy, The post First-time buyers still gung-ho for 2020 move appeared first on Mortgage Strategy.
- Platform withdraws some 85% fixed rates
Platform is removing a number of its 60 per cent LTV to 85 per cent LTV products from the market. Specifically, the Co-operative Bank’s intermediary arm will remove the two-year fix with £999 product fee and the five-year fix with £999 product fee. The lender says that this case is only temporary and that 90 The post Platform withdraws some 85% fixed rates appeared first on Mortgage Strategy.
- Accord pulls 90% first-time buyer lending
Accord has paused lending on 90 per cent LTV products for first-time buyers. It relaunched its suite of high-LTV products for borrowers looking to buy their first house in mid-June this year after originally withdrawing from this market on 8 June, citing the highest demand seen in its 17-year history. The lender points to the The post Accord pulls 90% first-time buyer lending appeared first on Mortgage Strategy.
- Ipswich withdraws all buy-to-let deals
Ipswich Building Society has withdrawn all of its buy-to-let, holiday let and expat products with immediate effect. The lender says it has done so in order to maintain service levels and response times after receiving a record number of applications. The society previously withdrew its standard and expat buy-to-let five-year fixed rates on June 18 The post Ipswich withdraws all buy-to-let deals appeared first on Mortgage Strategy.
- Nick Jones leaves Together for Roma Finance
Nick Jones has been appointed as Roma Finance’s new commercial director. Previously Jones worked at Together for 20 years in various roles, finishing his time there as head of specialist distribution. He has worked in the financial sector for 25 years in total, including stints at Compass Finance and the Bank of Scotland. In his The post Nick Jones leaves Together for Roma Finance appeared first on Mortgage Strategy.
- Construction sector booms in June
The construction sector rallied in June, with the HIS Markit/CIPS PMI moving from recent record lows, including a reading of 28.9 in May, to 55.3. This is far above the market consensus of 47.0 and is the sharpest increase in output since July 2018. Residential work increased the most in five years and purchasing activity The post Construction sector booms in June appeared first on Mortgage Strategy.
- Chancellor mulls stamp duty holiday
The Chancellor is considering a stamp duty holiday to help boost the housing market, according to government sources quoted in The Times. Rishi Sunak is expected to announce the plans on Wednesday in an economic update, although the measures may not come into force until the Autumn. It is believed Sunak is looking to increase The post Chancellor mulls stamp duty holiday appeared first on Mortgage Strategy.
- Newcastle Intermediaries re-enters BTL market
Newcastle Intermediaries has relaunched its buy-to-let offerings, available at up to 75 per cent LTV. The lender’s two-year fixed rate product comes in at 2.46 per cent and has an early repayment charge of 2 per cent until 31 December 2021 and 1 per cent until 31 December 2022. It also offers a five-year fixed The post Newcastle Intermediaries re-enters BTL market appeared first on Mortgage Strategy.
- Up to 230,000 renters at risk of eviction, warns Shelter
Up to 230,000 tenants could face eviction after falling behind with rent during the pandemic, new estimates by Shelter suggest. However, the National Residential Landlords Association has refuted the claims, arguing that its members will do everything they can to allow tenants to stay in their homes. Shelter’s predictions are based on a survey carried The post Up to 230,000 renters at risk of eviction, warns Shelter appeared first on Mortgage Strategy.
- Ami welcomes broker savings on FCA fees
Ami has welcomed the FCA’s regulatory fees and levies savings for intermediary firms for 2020 to 2021, as published yesterday. The report revealed that fees would remain broadly level for mortgage intermediaries but firms whose turnover remained consistent would see a reduction in the total cost of regulated fees year on year. The reduction is The post Ami welcomes broker savings on FCA fees appeared first on Mortgage Strategy.
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