First Mortgage News

For many first time buyers, the ability to acquire a loan or even receive a cash gift from the “Bank of Mum and Dad” was the only way to get onto the property ladder. The need for this kind of financial support appears to be dropping with many prospective borrowers now able to stand on […]

The introduction of the Mortgage Market Review (MMR) was a tough nut to crack for the mortgage industry since it was rolled out a year ago. For many it was hailed as a cure to curb the relaxed approach adopted in lending practices as well as providing a much needed long term solution to the […]

There has been a notable change in direction in the mortgage rate war, which has seen the pendulum shift from mainstream to buy-to-let (BTL). Latest figures released by research group Moneyfacts reveal the number of BTL mortgage deals have soared within the past two years, where there has been a significant rise in low-rate deals. […]

With the prospect of a base rate rise receding, heightened competition in the mortgage market continues with lenders continuing to cut rates. The last few months has seen a number of new entrants enter or confirm their intention to enter the mortgage arena, such as: Axis Bank UK, Pepper UK, Foundation Home Loans and Fleet […]

For several months now the mortgage industry has seen mortgage rates plummet to unprecedented levels as the mortgage price war continues between lenders. With a rise in base rate not predicted until the latter part of the year at the earliest, many homeowners have a perfect opportunity to take full advantage of cheaper home loans. […]

In the year and a half before the introduction of the Mortgage Market Review (MMR), several lenders tightened their interest-only criteria, whilst others, including Nationwide, NatWest and Coventry Building Society, withdrew from the market altogether. With an interest-only mortgage, as the name implies, your monthly repayments only go towards paying off the interest on your […]