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Families facing rising childcare costs and the withdrawal of child benefit could also find it harder to get the mortgage they need in the next few years. Mortgage experts have warned families that more stringent mortgage affordability checks are likely to reduce the size of loans that borrowers can take out, perhaps by as much as 75%.
With the Christmas and New Year holidays over, mortgage lenders are hoping to capitalise on the traditional January surge in interest in buying a home with some enticing new deals. Among them are Leeds Building Society and HSBC, who have unveiled a series of new products and rates for the start of 2013.
Over recent years, increasing numbers of mortgage borrowers have found remortgaging tough. With tight credit conditions and few remortgage deals, millions of Brits are now ‘mortgage prisoners', stuck on their lender's standard variable rate (SVR).
However, a new survey suggests that there are millions of people who are paying too much for their home loan and could remortgage if they wanted to. Now may be the time for you to consider switching your home loan.
With mortgage lenders continuing to make it hard for homebuyers to take out a home loan to purchase property, a growing number of first time buyers are turning to the 'bank of mum and dad' to help finance a property purchase. But with a wide range of initiatives now available to help people gain a foot on the housing ladder, there are plenty of alternative options.
Fresh research by the Centre for Economics and Business Research (Cebr), on behalf of HSBC, reveals that the ‘bank of mum and dad' helped to finance over 100,000 first time buyer borrowers between 2008 and 2011.
One of the UK’s leading mortgage lenders has launched a market leading first time buyer product which could spark a price war in the mortgage market. HSBC’s new seven year fixed rate – available to borrowers who have just a 10 per cent deposit – substantially undercuts other main lenders and is great news if you’re looking to get onto the property ladder.
HSBC has just unveiled its lowest-ever fixed-rate mortgage, a five-year deal of just 2.99%. It is one of a range of new mortgages that the lender has just launched, which also includes tracker and discounted products and a seven-year fix of 3.99%.
Housebuilder Weston Homes has secured funding to develop a wide selection of new homes in the south east of England after completing a £120m refinancing deal with a syndicate of banks led by HSBC.
The facility runs to the second half of 2015 and provides Weston Homes with the funding to confidently invest in building more new homes across a range of developments, supporting the continued growth of the company in the process.
New homes builder Banner Homes has announced a new £120m bank facility that will enable the firm to buy more land and plan ahead for the construction of more new homes.
The funding was secured with three major banks, RBS, HSBC and Santander. This four year facility will secure the future growth of Banner Homes and allow the firm to accelerate its land and development operations. In addition Banner's major shareholder has extended its investment loan until December 2015.
HSBC, one of the UK's largest mortgage lenders, is currently top of the Best Buy mortgage table across a number of different mortgage products, including fixed, tracker and first-time buyer mortgage rates.
HSBC First-Time Buyer Mortgage
HSBC is currently offering a two-year first-time buyer mortgage at a borrowing rate of 4.49% to first-time buyers with a 10% deposit, subject to a rather reasonable arrangement fee of £499.
David Cameron, the man hoping to become the next Prime Minister, is calling on the Liberal Democrats to make a final decision over which party they will back to govern this country.
Yesterday, the Liberal Democrats opened formal talks with Labour, after Gordon Brown announced that he would resign as leader.
However, the Tories remain confident of gaining Liberal Democrat support to form a government, after they won the most seats at last week's general election but were short of an overall majority.