Mortgages with 5% deposits are back – but watch out for stricter rules and higher rates

Aspiring homeowners are being offered a potential leg-up as mortgage deals for those hoping to buy with a five per cent deposit re-emerge. Several mortgage lenders including Bank of Ireland, Coventry Building Society and Accord, part of Yorkshire Building Society, are now offering 95 per cent loan-to-value deals. In addition, several other major lenders are … Read more

Will green mortgages encourage landlords to improve energy efficiency?

Landlords could get preferential treatment when applying for mortgages if their properties are energy efficient, as lenders begin to launch new green products to the market.   This week, Paragon Bank launched a new range of buy-to-let mortgages which offer lower-deposit options to landlords whose properties have an Energy Performance Certificate rating between A and C. … Read more

Scottish Mortgage’s James Anderson to retire next year

James Anderson, joint manager of Scottish Mortgage, has announced he will retire from Baillie Gifford in April next year.  The stalwart of the the £16billion investment trust will pass full reins to current co-manager Tom Slater, who will also be joined by Lawrence Burns, as a new deputy manager.  Anderson has managed Scottish Mortgage since 2000, … Read more

5% deposit mortgages are back from Yorkshire Building Society

Yorkshire Building Society has become the first lender to bring a range of mortgages with 5 per cent deposits back to the market, potentially heralding a price war that could benefit first-time buyers. Accord Mortgages, the intermediary arm of the building society, is launching the mortgages tomorrow with a five-year fixed rate of 3.99 per … Read more

Lockdown savers pay off big chunks of mortgages but others struggle

As the easing of lockdown apparoaches, Britain’s mortgage borrowers will rre-emerge from their homes with differing circumstances. Whilst some, dubbed lockdown savers, have financially benefited and saved during the pandemic, others have been compelled to use mortgage holidays. Some of the former set of borrowers have been paying off large chunks of their mortgages, while … Read more

Metro Bank launches mortgages for those with low credit scores, missed payments and repossessions

Metro Bank launches ‘near prime’ mortgages for borrowers with low credit scores, missed payments and even repossessions on their record New mortgages will have less strict credit checks than standard home loans  Those who have missed mortgage or loan payments, declared bankruptcy and even had a home repossessed will be eligible under certain circumstances They … Read more

Can we convince people to fix their mortgages for life?

My four mortgages in 15 years have got cheaper every time: After years of rate cuts can we convince people to fix for life? asks SIMON LAMBERT By Simon Lambert for Thisismoney.co.uk Published: 10:00 GMT, 11 March 2021 | Updated: 10:00 GMT, 11 March 2021 Would you fix your mortgage until it ends or would … Read more

New 5% deposit mortgages: Which lenders will offer them and when can I get one? 

The Government has announced a plan to guarantee mortgages with five per cent deposits, encouraging banks to lend to those with smaller savings pots. In today’s Budget, Chancellor Rishi Sunak confirmed that the Government would back the home loans, which will be available on homes costing up to £600,000.  The scheme will begin in April … Read more

Rishi Sunak to guarantee mortgages with government loans in next week’s budget 

A mortgage guarantee scheme to help thousands of young people onto the property ladder with small deposits is set to feature in next week’s Budget. Chancellor Rishi Sunak plans to incentivise lenders to provide mortgages to first time buyers, and current homeowners, with just 5 per cent deposits to buy properties worth up to £600,000. … Read more

Best 10% deposit mortgages: What are the top rates for first-time buyers?

Mortgages needing 10 per cent deposits are continuing to return to the market, in a welcome move for first-time buyers. Lenders have launched 117 new products since the beginning of the year, and 29 in the first two weeks of February alone, according to information website Moneyfacts. These lower-deposit mortgages are popular with first-time buyers, … Read more