‘Newbuy’ Applications from the Halifax Hit a High!
The ‘NewBuy’ scheme allows potential buyers to buy a home with a lower deposit than they would normally need. Meaning that they may be able to buy sooner than they thought, without having to save for a long time to build up the deposit that some lenders would otherwise expect. Deposits especially for first time buyers can be as much as 25 per cent.
Initially when the NewBuy scheme was set the government pledged that it would provide some 100,000 new homes. However, in October the Home Buliders Federation (HBF) admitted that only a quarter of this amount will be provided. Read more
Halifax offer £500 incentive to new mortgage customers.
In light of the current ‘mortgage war’ and today’s financial climate many of the nation’s biggest lenders have begun to offer different incentives in order to lure new customers to their products. It seems that Halifax Intermediaries are no exception.
They are offering borrowers who take out selected NewBuy, new build and shared equity products through them £500 towards the cost of moving home between August 31st and October 22nd this year. Read more
With the Bank of England’s base rate at an historical low of 0.5% for the last 3 years many young home owners it seem have taken advantage of this.
A study from the Halifax recently found that in January 2012 mortgage payments had reached there most affordable level in 14 years. Read more
As discussed in part one house price surveys take data from different times in the house buying process and have different parameters, therefore house prices rise and fall often in the same month, but this depends on which property you read.
Many experts feel that the best index is the one that has the biggest sample size. Read more
The National Association of Estate Agents (NAEA) have stated that just 16% of total sales in October 2011 were to first time buyers, this figure is down from 22% in September 2011. This is the biggest drop since December 2008.
With rising rental costs, strict lending criteria and high deposit demands it is nearly impossible for the average first time buyer to enter the housing market. Read more
Lloyds banking group has set aside £500 million to voluntarily redress an estimated 300,000 Halifax customers who were potentially confused by its standard variable rate (SVR) cap. Read more
Mortgages are more affordable than at any time in the past 12 years. The average borrowers repayments, today take up just 28% of their take home pay, the lowest level since 1999. By contrast in 2007 mortgage repayments ate up 48% of earnings. Read more
Would be first time buyers are struggling to get on to the property ladder due to few lenders offering 95% loan to value (LTV) mortgages. However the guardian reported that there are approximately 31 of these products available, this is an increase from January 2011 which showed 24 products and just 6 were available in June 2009. Read more
The Halifax has been reviewing its charges on a number of its products, as part of the Halifax review it has been decided to reduce charges on its fixed rate for both customers looking to re mortgage and also homebuyers. Read more
Halifax has been paying around £500 million in compensation after it emerged that their literature was far to convoluted, complicated and confusing, resulting in about 300,000 homeowners paying more than they had expected to. Read more