The upper age limits for homeowners to be accepted for a mortgage have been increased by the Nationwide to 85 to meet Britain’s aging population.
UK house price growth was only 0.2% during the month of April with lower annual returns suggest a slowdown in the property market.
The Equity Release Council reports biggest quarter for homeowners borrowing from their property with £393 million of mortgages.
By 2020 first time buyers in London will need a salary of £102,000 and a deposit of £138,000, says charity Shelter.
George Osborne has warned mortgage rates would increase if the UK leaves the European Union increasing the cost to homeowners.
The surge in buy-to-let investors ahead of the stamp duty tax has helped to increase mortgage lending to a new high in February.
The ONS have updated their index weighting reducing the average property price in London by £27,000 in February.
Latest analysis from Lloyds Bank shows affordability in UK cities is the worst since 2008 and now require 6.6 times annual earnings.
New data from the ONS shows the south East and London with double digit rise in house prices compared to the north widening the gap.
Figures from the CML estimate a 30% rise in mortgage lending over the year as homebuyers seek to complete before the April deadline.
Proposed changes to international banking rules for assessing credit risk would be detrimental to residential and buy-to-let mortgages.
Data from the CML shows remortgage lending for homeowners and buy-to-let market rises significantly by numbers and value for January.
Data from the Halifax shows house prices in the UK have decreased by 1.4% for the month to February although over the years prices remain 9.7% higher.
The CML has said homebuyers are stretching their finances by selecting mortgage terms of greater than 25 years to afford their homes.
House prices are higher by 6.7% over the year and out of reach for many as London and the East are leading the regions.
New stamp duty tax from April has seen a surge of buy-to-let landlords with the increase demand increasing the price of homes.
The Bank of England are unlikely to raise interest rates this year due to market forces sending mortgage rates for borrowers to record lows.
An MP committee has found that 40% of ex-council homes sold using right to buy are now privately rented properties.
Lenders for the new London Help to Buy are offering mortgage rates as low as 1.55% to first time buyers and home movers.
The HSBC have returned with a five-year fixed rate mortgage of 1.99 per cent with a high fee, but should you commit to such a long term?
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.