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Thursday 11 July 2013

Abbey to launch fee-free high LTV products

Abbey for Intermediaries is to launch a pair of fee-free mortgages targeted at first-time buyers and those with a small deposit.
miguel-sard-abbey-for-intermediaries
The lender, which yesterday announced it was to rebrand its broker channel as Santander for Intermediaries from next week, will launch the new products tomorrow, on Friday 12 July.
A two-year fix for first-time buyers will be available at 4.49% up to 90% LTV while a separate two-year fix will be offered at 3.79% up to 85% LTV to all homebuyers and remortgagers.
Miguel Sard (pictured), managing director of Abbey for Intermediaries, said the lender was eager to offer fee-free options to borrowers.

http://www.mortgagesolutions.co.uk/mortgage-solutions/news/2281054/abbey-to-launch-feefree-high-ltv-products?wt.mc_ev=click&WT.tsrc=Email&utm_term=&utm_content=Abbey%20to%20launch%20fee-free%20high%20LTV%20products&utm_campaign=11%2F07%2F13%2015.05%20Abbey%2C%20poll%20Q&utm_source=Daily&utm_medium=Email

Tuesday 2 July 2013

Interest rate rise of 2% could cause 'significant distress' - BoE

Mortgage borrowers could struggle with monthly repayments if interest rates rose by as little as 2%, a Bank of England report has warned.

It continued: “One indication is that households accounting for 9% of mortgage debt would need to take some kind of action — such as cut essential spending, earn more income (for example, by working longer hours), or change mortgage — in order to afford their debt payments if interest rates were to rise by just one percentage point.

http://www.mortgagesolutions.co.uk/mortgage-solutions/news/2277586/interest-rate-rise-of-2-could-cause-significant-distress-boe?wt.mc_ev=click&WT.tsrc=Email&utm_term=&utm_content=Interest%20rate%20rise%20of%202%25%20could%20cause%20%27significant%20distress%27%20-%20BoE&utm_campaign=26%2F06%2F13%2015.13%20Stories%20and%20conv%20starters&utm_source=Daily&utm_medium=Email

Monday 1 July 2013

Second-time buyers held back by negative equity, says Post Office

According to research from Post Office’s Step-Up report, 28% of second-time buyers are unable to progress on the property ladder due to negative equity.
Costs involved in moving have also meant nearly one in three (30%) of all prospective second-time buyers are having difficulty in climbing the property ladder. House hunters looking for their second home estimate they need an average of £7,279 to cover costs such as stamp duty and solicitor’s fees alone. This rises to £12,313 for those living in London.

http://financialreporter.co.uk/view.asp?ID=12985&utm_source=Sign-Up.to&utm_medium=email&utm_campaign=11064-297780-breaker+1+27th+june