Mortgage Strategy Magazine

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

Renters are almost twice as likely as mortgage holders to report that their housing costs had risen over the last six months, Office for National Statistics data shows. The numbers watchdog says that 39% of tenants were more likely to complain of a rise in rent, compared to 22% of mortgage holders who reported higher home loan payments.

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

The average two-year fixed mortgage rate with a 40% deposit has fallen below the average five-year equivalent for the first time in two-and-a-half years, data from Rightmove shows. Typical two-year 60% loan-to-value fixes are now 4.18%, while the five-year equivalent is 4.19%. This is the first time two-year rates at this level have become cheaper than five-year equivalents since former Prime Minister Liz Truss’ mini-Budget in September 2022.

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

West Brom Building Society has reduced rates on two-year shared ownership and new build mortgage products. As part of the changes, the society has lowered 95% borrower share product, with no fee to 5.24%. Rates across the rest of the shared ownership range have also been reduced and end dates have been extended from June to September. For those buying new build homes, The West Brom has trimmed two-year rates by as much as 47 basis points and now start from 4.77% for customers with a 10% deposit.

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

Allianz UK has promoted Sarah Watts as partnerships director in its personal lines retail leadership team, which includes home insurance. Watts will be responsible for the overall growth and product development of the firm’s partnerships business, which manages and develops relationships with brokers, affinity partners, banks and building societies. It adds the appointment “reflects Allianz’s ambition to develop and grow its UK business”.

1 week ago | mortgagestrategy.co.uk | Roger Baird |David Burrows

Lenders report that secured credit to households rose “slightly” in the three months to the end of February, while demand for these loans also lifted, Bank of England data shows. Institutions said household secured credit rose to a net balance of 18.4 in the period from 10.4 in the previous three months, citing expectations that house prices will rise.