More Lenders Drop Interest Only Mortgages!
According to recent figures Interest only mortgages still account for nearly one in 10 of all UK home loans.
We all know how much we panic when we hit the wrong button on the computer, it does not however usually result in messing up the finances of millions.
This is what happened just recently when technicians at Natwest tried to update the banks software and it then failed, so did attempts to go back to its original version, therefore causing a huge volume of transactions to not be completed. Read more
Natwest’s intermediary arm, Natwest Solution has launched a brand new mortgage aimed at first time buyers and those with little equity in their mortgage. The new home loan has a 90% loan to value so only a 10% deposit is required and is 6.19%. Read more
Natwest have decided to pull their interest only mortgages offered by their intermediary arm. The bank recently made the decision to stop offering interest only mortgages to first time buyers following a review. Read more
The banking group Lloyds TSB has taken a move to offer one of its headline mortgage rates to home movers as well as first time buyers.
Lloyds TSB ‘Lend a Hand’ mortgage was launched to help first time buyers onto the market. The Lend a Hand mortgages allows borrowers to take out a mortgage with just a 5% deposit. Other lenders offering similar deals are offering their products at a much higher interest rate. Lloyds TSB offers the mortgage at a very competitive rate of 4.79% with a loan to value (LTV) ratio of 95%. Read more
Four new reductions in mortgage rates for some of the RBS and Natwest fixed and variable rate mortgages have been launched onto the market today for both new and existing borrowers. Read more
The National Westminster Bank, or more commonly known as NatWest is part of the struggling banking group; Royal Bank of Scotland. Natwest is one of the ‘Big Four’ which has long since offered mortgages in the UK market. Read more
Rents took a real beating during the credit crunch and subsequent recession. Rents have dropped 6% from 2008 to the start of this year but Landlords are seeing a strong bounce back. Read more