As house prices rise Lenders have reintroduced interest only mortgages accessed only by wealthy homeowners with large amounts of equity.
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Category Archives: Mortgage Buyers
IMLA has said the end of higher rate tax relief for buy-to-let landlords will limit the supply of rented properties and increase the rents for tenants.
House purchase loans were 9% lower for the month of August according to the CML as remortgage buyers reducing by the largest amount.
Citizen Advice has warned that one million mortgage holders have no plan on how to repay and could face repossession.
UK buy-to-let landlords are at risk to booms and busts that could magnify a housing market crash the Financial Policy Committee warns.
The latest figures from the CML show mortgage lending of £138.6bn so far this year and £20bn for August.
The government’s Help to Buy scheme has hit record levels in June for the equity loan part with 4,745 completions.
The number of remortgage buyers increased by 30% in June as homeowners change to cheap fixed rate loans before interest rates rise.
The Council of Mortgage lenders has reported mortgage loans for house buyers reached £22 billion in July, a new post-crash record.
Mortgage lending by value to first time buyers increased 24% over the month following a poor first half of the year, says CML.