Number of home buyer mortgage approvals plunged to record low in April
The number of mortgage approvals made to home buyers slumped to a record low in April as the housing market was held at a near-standstill, Bank of England figures show.
Mortgage
Mortgage customers set to be able to extend payment holidays
Borrowers who are taking a three-month mortgage payment holiday are set to be able to extend it for another three months, or start making reduced payments.
Number of mortgage approvals made to home buyers plunges to seven-year low
The number of mortgages being approved to home buyers nosedived to a seven-year low in March.
Choice of mortgage deals halved since March 11, analysis shows
The choice of residential mortgage deals on the market has halved over the past few weeks, analysis has found.
HSBC UK says it remains open for business across its mortgage deposit range
A major mortgage provider has offered reassurance that it will continue to take applications for home loans across its full range of deposit sizes.
Nationwide temporarily pulls sales of mortgages above 75% loan-to-value
Britain’s biggest building society is temporarily pulling its mortgage offering for low-deposit borrowers such as first-time buyers.
Number of home buyer mortgage approvals lifted to six-year high in February
The number of mortgage approvals made to home buyers lifted to a six-year high just before coronavirus slammed the brakes on the housing market.
House sales ‘may return to typical levels by around mid-2021’
It could be the middle of next year before the number of homes being bought and sold is back to normal levels, experts have said.
Mortgage lenders temporarily restrict products on offer
Mortgage lenders are temporarily restricting the products on offer as the impact of coronavirus hits the market.
Further misery for savers as base rate slashed to 0.1%
Savers face further misery from the Bank of England base rate being slashed from 0.25% to a new historic low of 0.1%.
Coronavirus and mortgage payment holidays – what help can home owners get?
Mortgage lenders have set out how they will offer payment holidays of up to three months for borrowers who are in financial difficulty due to coronavirus.
Savings deals chopped following Bank of England rate cut
Savers will need to act fast if they want to grab a top rate, as some of the best deals are already disappearing from the market following the Bank of England’s decision to slash rates earlier this week, according to experts.
Housing market may see spike in overseas buyers ahead of stamp duty surcharge
A stamp duty surcharge for non-UK residents is set to come into force next year – and could spark a scramble among overseas investors to buy properties before it kicks in.
Bank of England rate cut ‘spells more devastation for savers’
Savers who have already seen their returns plummet now face more devastation following the Bank of England’s interest rate cut, experts have warned.
Coronavirus: RBS and NatWest customers could see mortgage payments deferred
NatWest and Royal Bank of Scotland mortgage customers affected by coronavirus could defer their loan repayments for up to three months if they are in financial difficulty.
Thousands back a petition to make rent payments proof you’re able to afford a mortgage
Thousands of people have signed a petition to make reliable rent payments proof that an individual is able to afford a mortgage.
Mortgage arrears in Aberdeen more than double the UK rate
Credit rating agency Moody’s has published figures showing mortgage arrears in Aberdeen running at double the UK average rate following the oil price slump.
Bank of Mum and Dad is propping up a quarter of this year’s mortgages
The “Bank of Mum and Dad” will help finance 25% of UK mortgage transactions this year, according to research.