Figures from the Council of Mortgage Lenders show mortgage lending has recovered since the election and reached a seven year high.
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Category Archives: Mortgage Buyers
Buy-to-let landlords will be restricted to only four properties and a lower £2 million maximum portfolio size.
The Bank of England report shows homeowners are encouraged by the low interest rates to repay mortgages to lenders.
Annual house price rise in April is 5.5% down from 9.6% in March, says ONS, while the number of Help to Buy completions have decreased.
The number of mortgages approved in April increased 9.9%, the highest monthly rise for six years according to the Bank of England.
Tax breaks add £14 billion to landlord buy-to-let income boosting the sector while first time buyers are priced out of the market.
Mortgage lending to first time buyers in Greater London is 16% lower to the previous quarter according to the latest CML report.
The average first time buyer now needs a salary of £77,000to buy a home, says KPMG, as house prices continue to rise.
A new two year fixed rate mortgage from the Co-Operative Bank offers only 1.09% interest and borrowers must pay a high £1,500 fee.
New pension freedoms have increased the number of buy-to-let mortgages reducing the cost with new cheap deals.