Nationwide’s index has recorded the second monthly fall in house prices with homeowners feeling the pinch due to the economy.
Yorkshire Building Society has launched a record low mortgage rate as competition increases but is it worth the high fees.
The cost of five year mortgages has reduced in the last year and now could be the time to fix this rate and inflation proof your budget.
Home buyers start the year strongly with mortgage lending of £8.9 billion in February which is an increase of 7% over the month.
Amounts of equity released from homes reached £1.24 billion in the second half of 2016 a record level of wealth that continues to growth.
Home buyer borrowing in London reduces 5% or £310 million in the final quarter of 2016 continuing the downward trend for the capital.
Significantly lower interest rates has improved mortgage affordability across the country since the financial crisis according to the Halifax.
Latest data from Moneyfacts shows the amount of cashback offered by lenders to first time buyers with small deposits is lower in the last two years.
For the first time since 2011 the number of home movers has decreased due to the low availability of the ‘right type’ of homes slowing the market.
Home buyers borrowed £11 billion in November up over 5% on the month reflecting a stable market and aspirations for home ownership.
The number of first time buyers reaches an all time high last year with more people opting for longer term mortgages of 30-years or more.
After years of falling rates the 10-year fixed rate mortgage costs are beginning to rise according to research from Moneyfacts.
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.
CONTACT
Address:
9th Floor, 30 Crown Place
London, EC2A 4EB
Phone:
0800 955 0058
Email:
info@londoncitymortgages.co.uk
London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.