News & Insight

Our expert views and commentary on what’s happening in the world of mortgages and sometimes beyond, along with our regular summary of what the papers say.

Beyond the Bank of Mum and Dad

Thousands of first-time buyers every year manage to get onto the property ladder with help from their parents, but not everyone is lucky enough to have financial support from family. ...

What can we learn from buying a house in Skyrim?

L&C recently ran a study to find out the real world value of video game properties. You might be surprised to find out that more people Google ‘How to buy a house in Skyrim’ than ‘How to buy a house in London, Paris, or even New York! So what could this mean in reality? We’ve put together a comparison so you can figure out whether you’d be hanging out in Hyrule or slumming it in Fallout 4’s Home Plate....

New ‘Help to Own’ scheme proposed

Landlords should be incentivised to sell to tenants at a discount under a new scheme proposed by conservative think-tank the Centre for Policy Studies. ...

What will the Budget mean for the property market?

The Chancellor Philip Hammond will unveil his Autumn Budget on October 29th, with many speculating that he could announce a range of measures affecting the property market. ...

Tenants could face rent increases

Tenants living in shared houses could face steeper rents following the introduction of new legislation which requires their landlords to hold a license. ...

What does the future hold for Help to Buy?

Lenders are urging the government to clarify the future of the Help to Buy scheme, warning that major changes could risk “significant market disruption.” ...

Is your self-employed paperwork up to date?

The number of self-employed people in the UK continues to grow, but getting a mortgage if you work for yourself isn’t always straightforward. ...

House price growth steady in September

Halifax’s latest house price index showed that the quarterly rate of growth held steady in September, although the month-on-month change revealed a drop. ...

New Help to Buy mortgages launched

Growing numbers of lenders are launching Help to Buy mortgages, increasing the options available to buyers of new build properties. ...

What does rising inflation mean for your mortgage?

When inflation rises or falls, it can have a significant impact on mortgage rates because the Bank of England uses the rate of inflation to help it decide whether the base rate should go up or down. Here’s what you need to know. ...

How old is your heart?

To help people identify whether they could be at risk, Public Health England is urging adults to take a free online test to find out their ‘heart age’. ...

Patisserie Valerie competition

1. The competition runs from 8am 28/09/2018 until midnight 31/10/2018. Entries received after this time will not be put forward for the draw. ...

New rules for HMO landlords

Tens of thousands of landlords may have to apply for a licence to rent out their property as a ‘house in multiple occupation’ (HMO) once new government rules are introduced on October 1. ...

Get set for Gas Safety Week

This year’s Gas Safety Week, which runs from September 17-23, aims to raise awareness of the dangers of poorly maintained gas appliances, which can cause fires, explosions, gas leaks and carbon monoxide poisoning. ...

Borrowers fix for longer

Longer term 5 and 10-year fixed rate mortgages are becoming increasingly popular, as borrowers seek to protect themselves from further interest rate rises. ...

Mortgage lending up in July

Gross mortgage lending reached £24.6bn in July, according to latest figures from trade body UK Finance, its highest level since March 2016. ...

House prices see biggest monthly fall since 2012

UK house prices fell at their sharpest rate for six years in August, according to Nationwide’s latest monthly House Price Index, bringing the average cost of a home to £214,745....

Switch on to the benefits of LED lighting

Households will have to start switching to LED lightbulbs from next month, when a ban on the production of halogen bulbs comes into effect across Europe. ...

SVR Watch - August 2018

The Bank of England has increased base rate by 0.25% to 0.75%. Here’s our rundown of how lenders are reacting to the rise, so you can see whether yours has increased its Standard Variable Rate. ...

Thousands search for mortgages online

Over 16,000 homebuyers have made mortgage applications using L&C’s online Mortgage Finder service since June last year, borrowing more than £3bn. ...

First-time buyers in the dark about stamp duty changes

Despite changes to stamp duty designed to help those struggling to get onto the property ladder, more than 2m first-time buyers aren’t sure whether they will benefit from the new rules. ...

House prices pick up in July

House prices picked up last month, according to Nationwide’s latest house price index, with annual growth up from 2% in June to 2.5% in July. ...

Growing popularity of holiday lets

Short-term holiday lets are becoming increasingly popular as a way for landlords to generate an income, but it’s important to weigh up the pros and cons carefully first. ...

What the papers said about rising rates

As expected, the weekend’s financial news focused primarily on last week’s decision by the Bank of England to increase the base rate for only the second time in a decade. ...

Bank of England raises interest rates

The Bank of England has raised the base rate to 0.75%, meaning higher monthly mortgage costs for millions of homeowners on variable rate deals. ...

Securing a fixed rate to protect against rising interest rates

Fixed mortgage rates remain at historic lows, with five-year rates available below 2% in May 2018. You don’t have to fix your rate for five years though to benefit from a low rate. Deals usually range from two years up to 10 years or longer, so you can pick a term to suit your needs. ...

Refer a friend Competition Winners

We are delighted to announce the winners of our latest ‘refer a friend’ competition. From thousands of entries Natalie, and the person who referred her, were randomly selected, winning their mortgages paid for six months by L & C Mortgages. ...

Hat trick of awards for L&C

L&C picked up three awards at the What Mortgage Awards on July 18, winning Best Mortgage Broker (over 40 advisers), Best Online Mortgage Broker and Best Broker Customer Service. ...

Difference between SVRs and fixed rates grows

The gap between the best fixed rate mortgage deals and lenders’ standard variable rates has widened substantially over the past nine years, according to the Financial Conduct Authority (FCA). ...

Options improve for 95% remortgage deals

Homeowners with only a limited amount of equity now have a greater choice of remortgage options, with lenders including Virgin Money, Tesco and Atom Bank improving their offerings at this end of the market. ...

Second steppers return to Bank of Mum and Dad

Whilst first-time buyers often rely on the Bank of Mum and Dad to help with their deposits, those planning their next move also depend on their support, according to the latest ‘Second Steppers’ report from Lloyds Bank. ...

Buying cheaper than renting in all parts of the UK

First-time buyers who manage to get onto the property ladder could save an average of more than £2,200 a year compared to renting, with buying now cheaper than renting in all areas of the UK. ...

More mortgage options for older borrowers

Older homeowners can now have a mortgage for longer, thanks to new deals designed to meet growing demand for borrowing into retirement. ...

Remortgages up by a third in April

More than 40,000 homeowners remortgaged in April, according to latest figures from trade body UK Finance, up 36% compared to the same month last year. ...

Brexit could delay rate rises

Interest rates could be kept on hold for longer in the event of a “disorderly” Brexit, according to the Governor of the Bank of England....

One in five landlords plan to sell up

Around 380,000 landlords (19%) plan to sell their rental properties in the coming year, according to research by the National Landlords Association. ...

What the papers say about First Time Buyer Stamp Duty Relief

This weekend's Financial Times highlighted the main findings of our First time Buyer stamp duty research, namely: 18% of FTB are calibrating their purchases to take advantage of tax relief by buying beneath the exemption threshold. ...

Tea for Two Competition winner

We are delighted to announce winner of our "Tea for Two" Competition, celebrating the launch of our new TV advert. ...

Greater mortgage choice for buy to let landlords

Two lenders, Sainsbury’s Bank and The Mortgage Lender, have entered the buy to let market this for the first time, widening the range of mortgage options available to landlords. ...

Millennials join forces to buy property

More than half of millennials – those aged between 18 and 35 - are considering buying a home with friends or family to achieve their aim of getting on the property ladder. ...

What the papers said about borrowers young and old

Both ends of the lending spectrum were covered in this weekend’s financial press, and in particular the criteria that is enabling different generations to either get onto the property ladder, or stay on it. ...

What would a rate rise mean for you?

Expectations of a base rate rise in May were dampened following comments from the Bank of England governor Mark Carney, but it’s still vital for homeowners to consider the impact of higher rates. ...

What the papers said about first-time buyers

The Observer reported this weekend on the falling number of young home-owning families, as many of today’s millennials struggle in the face of higher property prices. ...

More help needed for ‘Generation Rent’

Four in 10 millennials are living in rented private accommodation at the age of the 30, according to a recent report by think tank the Resolution Foundation....

Have you reached your Mortgage Freedom Day?

Homeowners in the UK have by now on average earned enough to cover their mortgage payments for the rest of 2018, according to research from Halifax. ...

House prices reach record high in March

House prices rose by 1.5% in March, according to Halifax, bringing the average cost of a property in the UK to a record high of £227,871. ...

Post Office launches new no deposit mortgage

The Post Office has introduced a new ‘Family Link’ mortgage aimed at first-time buyers that can afford monthly mortgage payments but who don’t have a deposit to put down. ...

What the papers said about preparing for change

With suggestions of an interest rate rise, possibly as soon as next month, the financial press reported this weekend on the levels of increased activity in the mortgage market. ...

Mortgages at their most affordable for a decade

Less than a third of homeowners’ disposable income goes towards mortgage payments each month, making mortgages more affordable than they’ve been for a decade. ...

How energy efficient is your buy-to-let property?

Landlords will need to ensure their rental properties meet minimum energy efficiency standards before they can be let out, under new rules being introduced this spring. ...

Win Tea for Two

Competition Time Win Tea for Two at the famous Swan Restaurant in Shakespeare's Globe. To celebrate the launch of our latest TV advert, were giving you the chance to win an afternoon tea for two experience at the famous Swan restaurant - located in Shakespeare's Globe, London. ...

What the papers say about mortgage rates

'Join the race to remortgage' was the main theme of this weekend's papers, with the Times keen to point out that 25 lenders have increased their rates in the past 2 weeks, driving 2 year fixed rates to their highest level since September 2016. ...

House price growth slows

House prices are growing at their slowest rate for five years, according to Halifax’s latest monthly House Price Index. ...

Help to Buy equity loans approach 5th anniversary

Buyers, including many first timers, who signed up for the government’s Help to Buy equity loan scheme in its early stages will soon start being charged interest on their loans. ...

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