Becky Bellamy

1 week ago | mortgagestrategy.co.uk | David Burrows |Becky Bellamy

Saffron for Intermediaries has announced major changes across its range. The changes include enhanced professional income boost criteria with a new maximum 6.0x LTI, a new approach to development finance with increases to key loan parameters, and several criteria updates across residential and buy-to-let. Saffron is also reducing rates across many categories – including for self-employed and contractor clients.

1 week ago | mortgagestrategy.co.uk | Becky Bellamy

Connect for Intermediaries has added April Mortgages to its lender panel. The strategic partnership will allow Connect’s advisers access to April’s product suite. These include fixed-rate terms from five to 15 years, uncapped overpayments, and interest rates that automatically reduce as the loan-to-value improves. April allows for lending up to 6x income and a minimum income threshold of £24,000.

1 week ago | mortgagestrategy.co.uk | Roger Baird |Becky Bellamy

House prices lifted by 5.4% to an average of £268,000 in the year to February, Office for National Statistics estimates show. This annual growth rate is up from 4.8% in the 12 months to January. On a country basis, the average house price for Wales was £207,000, up 4.1% from a year earlier. This annual rise was lower than the 5.6% rise in the 12 months to January. The average house price for Scotland was £186,000, up 5.7% from a year earlier.

1 week ago | mortgagestrategy.co.uk | Becky Bellamy |Roger Baird

UK inflation has fallen more than expected to 2.6%, according to the latest Office for National Statistics data. The largest downward contribution to the monthly change came from recreation and culture, and motor fuels, with a further large downward effect in CPIH from housing and household services; the largest, partially offsetting, upward contribution came from clothing.

1 week ago | mortgagestrategy.co.uk | Becky Bellamy |Roger Baird

Santander has reintroduced sub-4% fixed rates for home movers. The new rates will start from 3.97% for a two-year fixed rate and 3.99% for a three-year fixed rate, both at 60% loan-to-value (LTV). In addition, the lender has announced it will reduce most standard first-time buyer fixed rates by as much as 0.17% and home mover fixed rates by up to 0.13%. Most remortgage two-year fixed rates will also be lowered by up to 0.18% and some five-year fixed prices have been trimmed by as much as 0.12%.