News
More than one in four FTBs hide spending habits – Mojo Mortgages
26% concealed discretionary spending, including by deleting betting apps, hiding purchases or pausing regular spending.
First-time Buyers
Opinion
Today’s first-time buyers are changing the conversation on mortgage lending
Paul Purewal of Dudley Building Society discusses the need for mortgage lending to keep pace with the changing circumstances of first-time buyers.
News
Ecology Building Society launches mortgage for Scottish FTBs
The Ecology First Homes Mortgage (Scotland) can provide loans of up to 95% LTV on new-build and existing properties worth up to £300,000.
News
Coventry for intermediaries boosts first-time buyer borrowing to 6.5x income
The enhanced borrowing multiple is available on residential purchases up to 95% loan-to-value (LTV), subject to the lender’s affordability assessment.
Residential Mortgages
Mortgage refinancing up 28% in Q2 – UK Finance  Â
There were 529,750 refinancing transactions during the quarter, driven mainly by borrowers reaching the end of fixed-rate deals.
News
56% of prospective FTBs believe it is difficult to get a mortgage, YBS finds
Two-fifths (40%) of current homeowners felt the same, with affordability issues and large deposit requirements (39%) seen as the main barriers.
News
Darlington BS backs first-time buyer using pension income
Darlington Building Society has completed a residential mortgage for a first-time buyer approaching retirement whose income was primarily derived from a pension.
News
Newcastle for Intermediaries extends Affordability Boost to 95% LTV new build purchases
The move is designed to help FTBs, home movers and existing customers who face affordability or deposit barriers when buying a newly built home.
Opinion
Interest-only can help FTBs, but it cannot become an affordability shortcut
Sebastian Murphy considers the potential role of interest-only mortgages for first-time buyers and the risks of using them as a solution to affordability pressures.
News
58% of FTBs rule themselves out of mortgages before applying, Lloyds finds
The study found 58% wrongly thought having existing debt would stop them from being approved, while 37% believed a 20% deposit was essential.Â
From The Magazine
Conveyancing firm reviews could be a major red herring
There’s no shortage of reviews and ratings of almost every conveyancing or solicitor firm that has completed a case in the past couple of decades.
From The Magazine
The Great Wealth Transfer
The growing role of brokers in helping families pass wealth down through the generations.