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.

Mortgage payment holiday scheme extended

Homeowners who have taken mortgage payment holidays to help them weather the financial impact of coronavirus may be able to extend their breaks by three months, the Financial Conduct Authority (FCA) has confirmed. ...

Mortgage market update - What happens next?

Recent weeks have proved a rollercoaster ride for the mortgage market, with several lenders withdrawing products and then expanding their ranges. But what next for the mortgage market? ...

One in nine takes mortgage payment holiday

More than 1.2m homeowners have been offered mortgage payment holidays by their lenders to help them weather the financial impact of coronavirus. ...

Home-movers advised to delay plans

Home-movers are being advised by the Government to put their plans on hold wherever possible whilst measures are in place to fight coronavirus. ...

Base rate cut to record low

The Bank of England cut the base rate again on Thursday to just 0.1%, its lowest ever level, in a bid to support the economy during the coronavirus crisis. ...

Budget 2020: How it affects the property market

Although much of this week’s Budget speech focused on measures to protect people and businesses from the economic impact of the coronavirus, there were several announcements on property. ...

Boom in demand for holiday lets

Growing numbers of property investors are looking to buy holiday homes to let out in the UK in response to increasing demand for UK holidays. ...

What are YOUR 2020 mortgage resolutions?

After all that festive spending, the New Year is the ideal time to review your finances and look at ways you might be able to save money in 2020. ...

2019 Mortgage market review of the year

Political and economic uncertainty may have dominated 2019, but homeowners and buyers have continued to benefit from rock-bottom mortgage rates. ...

Buying for Uni

Growing numbers of university students are becoming landlords, buying properties that they can live in whilst also collecting rent from their student housemates. ...

Uncertainty causes mortgage market slowdown

First-time buyer and homemover mortgage numbers dropped slightly in June, with many people putting their plans on hold due to current political and economic uncertainty. ...

What the papers said about 40-year terms and Buy-to-Let rates

The financial press took a look at the pros and cons of longer mortgage terms this weekend, following research produced by Santander that suggested almost half of buyers would consider taking a mortgage over a period of 40 years. ...

New tax year changes for landlords

There are just a few weeks to go before the new 2019-20 tax year begins on 6th April, when landlords will see further reductions in the amount of tax relief they can claim. ...

Landlords feel impact of tax relief reduction

Landlords racing to beat the self-assessment deadline on 31st January must for the first time factor in cuts to mortgage interest rate relief when completing their tax returns. ...

First-time buyer numbers jump

Growing numbers of first-time buyers are getting onto the property ladder, new figures show, helped by low mortgage rates and government schemes such as Help to Buy. ...

What are your mortgage resolutions for 2019?

Your mortgage is likely to be your biggest monthly outgoing, so it’s a great place to start if you’re looking to cut costs. Here’s our rundown of some of the mortgage resolutions you might want to consider making. ...

New long-term fixes available for landlords

Landlords who are concerned about higher mortgage costs if interest rates rise have a wider range of fixed rate options to choose from following the launch of a new range of 10-year fixes. ...

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. ...

Are you ready 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. ...

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. ...

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. ...

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. ...

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. ...

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. ...

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. ...

Watch L&C's new TV advert!

Navigating the mortgage market isn’t always easy, but some seem to manage it with ease, even though it often takes a lot of hard work behind the scenes. That’s the message behind our new advertising campaign ‘Glide’ which you can watch here . ...

What are your 2018 mortgage resolutions?

Many people put sorting out their finances at the top of their list of New Year financial resolutions, and reviewing your mortgage can be a great place to start. ...

What was the outcome of the Budget?

The Budget introduced a range of measures designed to boost the housing market and improve the supply of new homes in the UK. Here’s our rundown of the changes announced. ...

SVR Watch - November 2017

Here’s how lenders are reacting to the Bank of England’s decision to increase Base Rate. We’ll keep updating this page as news comes in. ...

What the base rate rise means for landlords

Much of the focus since the base rate rise last week has been on what impact the increase has on homeowners, but it also has implications for landlords, many of whom have already had to adapt to several other changes this year. ...

Portfolio lending rules now in place

Landlords with four or more mortgaged buy-to-let properties can now expect greater scrutiny of their entire portfolio when trying to buy a new property. ...

Guide to negotiating the price of a property

You’ve found the property you want to buy, but now you need to get it for the right price. We understand that haggling on the property price can be tricky... So here are our top tips to help you buy a property at the best possible price. ...

What buy-to-let landlords need to plan for

Buying a property to let out is very different to buying a property to live in, so if you’re planning to become a landlord, it’s really important to plan properly. ...

More changes on the way for landlords

More changes on the way for landlords.. Landlords who own four or more mortgaged buy-to-let properties can soon expect lenders to look across their whole portfolio if they want to apply for a mortgage on a new property....

What the papers say about the new Buy to Let rules and New Build

The Times focused on the new Buy to Let rules from the Prudential Regulation Authority (PRA) that will come into force this October. They will affect ‘portfolio landlords’ (those with 4 or more mortgaged properties). Previously, lenders might assess a new mortgage in isolation but will now have to undertake a review of all the client’s assets, liability, tax position, business plan and exit strategy. Buy to Let Mortgage lenders are beginning to announce how they will implement these changes,...

Clarification of stress tests

Lenders will have to adopt a more uniform approach to mortgage stress tests, following a clarification of the rules by the Bank of England’s Financial Policy Committee (FPC)....

Interest-only market decreases

Less than 2m interest-only mortgages across the UK remain outstanding, according to the Council of Mortgage Lenders (CML), down from 3.2m in 2012. There are currently 1.9m interest-only loans, with a third of these due to mature in the 2030s. With this type of mortgage, as the name suggests, you only repay the interest on the amount you’ve borrowed each month. The capital must be repaid when the mortgage term ends. Millions of borrowers took out this type of...

What the papers said about 99 months of low rates and taking action

May is the 99th month that the Bank of England has kept its base rate at or below 0.50%. Around 2.5 million people have bought their first property since then, according to the Council of Mortgage Lenders, and will not yet have witnessed base rate moving in the opposite direction. ...

How do Let to Buy mortgages work?

Let to buy can be an option for those who want to purchase a new home whilst keeping hold of their current property and letting it out. As someone looking to buy a new property, it can allow you to release some equity from your current home and put it down as a deposit on your new one.It’s a popular choice for couples who move in together later in life, perhaps once they both already have their own properties. In this case, you’d both move into o...

How to get a mortgage if you’re self-employed

Applying for a mortgage can be tricky, but if you’re a self-employed worker, freelancer or contractor, you could face extra challenges. Here's what you'll need to get a mortgage as a self-employed person... ...

2016 Review and Outlook for 2017

Last year isn’t one any of us are likely to forget in a hurry thanks to Brexit, but amidst all the political turmoil, homebuyers and owners enjoyed some of the lowest mortgage rates ever recorded. ...

Santander tightens buy-to-let lending policy

Santander has announced it will tighten the rental calculation for landlords from 23rd November. This makes them the first major lender to declare policy changes since the Prudential Regulatory Authority published new requirements in September....

How to help your mortgage affordability

When you apply for a mortgage, lenders will look to your bank statements to help them decide how much you can afford to borrow. Follow these simple steps to boost your mortgage affordability...

Higher Stamp Duty for all landlords

No exemption for large investors: all landlords, no matter how big, will pay the 3% Stamp Duty surcharge from 1st April....

What the new tax rules mean for landlords

As announced in the Budget, mortgage interest rate relief is going to be limited to the basic 20% income tax rate: higher and top rate tax payers no longer get full relief.The government has now published the detail of how the change will be phased in here which says in 2017 to 2018 the deduction from property income (as is currently allowed) will be restricted to 75% of finance costs, with the remaining 25% being available as a basic rate ta...

Tips for securing a Buy to Let mortgage

Buy to let applicants are subject to different criteria than someone looking for a residential mortgage. For example, you may need a larger deposit and a higher annual salary, and that’s just the beginning.However for those who find the right mix of property, finance and tenant a buy to let property can provide you with a steady source of income. The average UK rent yield is over 5%, which makes buy to let appear an attractive options with saving...

Interest Rates Unchanged for 6th consecutive month

The Bank of England has held interest rates at 0.5% for the sixth consecutive month. With many indicators showing tentative signs that the worst of the recession may be over, the bank signalled its intention to continue to review its program of quantitative easing, and expects the current allocation of £175 billion to be reached in two months. Quantitative easing is designed to encourage banks to lend to both business and individuals, but despi...

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