Latest mortgage news - Interest Only Mortgages
Mortgage rates reduce by half since financial crisis
The cost of borrowing has reduced by half in the last decade with competition encouraging more on the housing ladder.
Older borrowers remain asset-rich with lower mortgage debt
Data from the CML has revealed older borrowers have higher levels of equity to debt with repayment rather than interest only mortgages.
Interest only mortgages are making a return but only for the wealthy
As house prices rise Lenders have reintroduced interest only mortgages accessed only by wealthy homeowners with large amounts of equity.
One million people are unable to repay their interest only mortgages
Citizen Advice has warned that one million mortgage holders have no plan on how to repay and could face repossession.
Buy-to-let boom is next threat to financial stability says Bank of England
UK buy-to-let landlords are at risk to booms and busts that could magnify a housing market crash the Financial Policy Committee warns.
Virgin Money changes lending rules for buy-to-let mortgages
Buy-to-let landlords will be restricted to only four properties and a lower £2 million maximum portfolio size.
Buy-to-let market may pose a threat to financial stability, says BoE
The booming buy-to-let market and ease investors can secure mortgage loans could undermine the UK economy when interest rates rise.
Buy-to-let mortgage rates fall as pension freedoms drive rise in cheap deals
New pension freedoms have increased the number of buy-to-let mortgages reducing the cost with new cheap deals.
Buy-to-let landlords to own £1 trillion of property value by 2015
A report by lender Kent Reliance shows the value of buy-to-let property owned by landlords is at £930.7 billion increasing 13.3% in the last year.
Interest only mortgages making a comeback
A year after interest only mortgages were criticised by the regulator two banks are plan a comeback.
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Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
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London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.