Bank of England may cap LTV’s
George Osbourne, the well known ex-buy to let mortgage broker and now chancellor, told the house of commons last night that the BoE may be given the powers to stop high loan to value (LTV) mortgage lending by forcing lenders to cap their LTV’s. He also said they would have the tools to increase, and …
Read more …A new 75% BTL lender
Despite all the doom and gloom, this hasn’t stopped the mighty Barclays coming back into the 75% buy to let mortgage market. (See – I told you last week something was afoot) Woolwich, a mortgage arm of Barclays, have today unleashed some new buy to let mortgage products at 75% loan to value. Whether they …
Read more …On the brink
Well, at least Halloween is out of the way. When I was young you were lucky if you got a biscuit – now it’s like The Clockwork Orange, with wild youths dribbling and roaming the streets looking for sweets (perhaps I’m getting old). Are we on the brink of another credit crunch? Recession, don’t you …
Read more …85% Mortgages Based On Valuation. Are They real?
Is the 85% LTV buy to let mortgage on valuation really back? OK I know everyone wants it but, wishing it will return wont bring it back. There has been rumors abound of mythical hedge fund finance, Hotmail addresses promising 100% buy to let finance and all sorts of deals promised but many of these …
Read more …Tenant’s start to jump
Buy To Let Mortgages – do we do ‘em? Before I start on this week’s news I just wanted to confirm something. I received an email last week from someone asking if we advise on buy to let mortgages. Now, I know this newsletter is jam-packed with salient information and crucial top-tips, but obviously one …
Read more …Is the 85% mortgage back?
Interest Rates I’m not even sure why I bother telling you that base rate was held last week at 0.5% again, but seems this record period of ultra-low interest rates is set to continue. At the moment there doesn’t look like there any movement soon, however as soon as the mood changes you will be …
Read more …Buy to let to be regulated?
Buy to Let mortgages are the latest products mooted to feel the cold embrace of government regulation, as they are now proposing to extend the remit of the FSA to include all such investment finance. This has in fact been on the cards for quite a while now and I dont think has come as …
Read more …Buy to let hotting up
Best quote of the last couple of weeks is definitely from Matthew Wyles chairman of the Council of Mortgage Lenders. He said the Financial Services Authority sees mortgage lenders and mortgage intermediaries as the drug-dealers at the “school gates” of the mortgage market. He muses, “Regulators see lenders and intermediaries as the sweetshop owners – …
Read more …Breaking up the banks
It’s not always apparent what impact the European Commission has on our banking sector – but it certainly is this week. The commission has demanded a break up of both the Royal Bank of Scotland and the Lloyds Group – RBS is to sell off 318 branches, while Lloyds will dispose of more than 600 …
Read more …Mortgage approvals up – but at a cost
The Bank of England released figures today showing an 18 month high in mortgage approvals this further underpins the view that the housing market continues to strengthen. Still, to mix my metaphors, with every silver lining theres a dose of reality. The latest data from the Bank of England has revealed that major lenders are …
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