Miller Homes has teamed up with Own New to offer reduced mortgage rates for buyers of new build homes in Scotland. The 'Own New Rate Reducer' product enables customers to lower their interest rate for the initial mortgage term on a new Miller home while owning 100% of the property. It has been launc
Mortgages
A forthcoming report from the Building Societies Association (BSA) highlights the urgent need for substantial changes in the current housing market to facilitate the entry of prospective first-time buyers onto the property ladder, without compromising the prospects of future generations of homebuye
UK Finance has unveiled its housing and mortgage market forecasts for 2024 and 2025, alongside a review of 2023 showing that the UK mortgage market has experienced significant pressures in 2023 due to rising interest rates and increasing household costs.
August saw an increase in net borrowing of mortgage debt by individuals, marking the fourth consecutive month of growth, with a significant rise to £1.2 billion, up from July's £0.2bn. In contrast, the UK observed a decline in net mortgage approvals for house purchases, dropping to a six
A significant drop in the number of interest-only (750,000) and part-interest-only (245,000) mortgages has been recorded by the Financial Conduct Authority (FCA).
NatWest and Nationwide have announced substantial increases in interest rates, and the withdrawal of several mortgage products.
HSBC, which accounts for nearly a quarter of the home loans market, has withdrawn all of its residential, buy-to-let and business mortgage deals.
An unprecedented number of first-time home buyers have committed to mortgage terms of 35 years or longer due to escalating costs, UK Finance data indicates. In March, 19% of all first-time buyer loans were for periods of 35 years or more, marking the highest proportion since 2005 and more than doubl
First-time buyers in Scotland paid less for a deposit in Q1 than the last three months of 2022, according to new data from TSB.
Recent inflation figures have pushed lenders to consider increasing fixed-rate mortgages to 5% and above.
Nationwide Building Society has taken a step towards promoting green home improvements by offering 0% interest on Green Additional Borrowing products. Available from 1 June, these new borrowing options aim to incentivise up to 5,000 mortgage members to make energy-efficient modifications to their ho
Skipton Building Society is set to offer 100% loan-to-value (LTV) home loans for the first time since the 2008 financial crisis, targeting first-time buyers unable to save for a deposit.
The Financial Conduct Authority (FCA) has set out ways for mortgage firms to help customers worried about or already struggling with mortgage payments.
UK mortgage lending is expected to fall slow sharply in 2023 with just 0.7% growth due to rising mortgage rates and falling real household incomes, according to the latest EY ITEM Club Outlook for Financial Services. This comes after lending is projected to rise 4% this year, following strong demand
It has been predicted that millions of families are set to see their annual mortgage payments rise by an average of £5,100 between now and the end of 2024, according to new analysis published by the Resolution Foundation. With the low-interest rate era firmly at an end – the Bank of Engl