Natwest

Mortgage blog: Two more lenders withdraw interest-only deals

The future of low-cost home loans has been thrown further into doubt after two of the UK's largest lenders closed their doors to interest-only deals. In a move The Independent described as a ‘watershed moment for the product', Royal Bank of Scotland and NatWest will no longer accept mortgage applications on an interest-only basis.

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Mortgage blog: Everything you need to know about porting your mortgage deal

If you're moving home, you may well want to remain with your mortgage lender. You may be on a great interest rate such as a fixed or discounted deal. Or, you may find that there are ‘early repayment charges' if you repay the mortgage on the sale of your home and take out a new home loan with someone else.

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It can be an advantage to take your mortgage with you when you move

Mortgage bulletin – Lenders already raising NewBuy mortgage rates

Authorship: 
Keith Osborne +

The government's NewBuy mortgage indemnity initiative has received a setback, with some of the limited number of mortgages available under the scheme having their interest rates increased by lenders. Just three lenders were signed up to NewBuy when it was launched in mid-March 2012, and all three have raised interest rates in the subsequent few weeks.

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NewBuy mortgages are all now more expensive than at launch

Mortgage bulletin – Many lenders cutting interest-only LTV

Authorship: 
Keith Osborne +

The Skipton Building Society is the latest lender to cut the maximum loan-to-value (LTV) on its interest-only mortgages, effective today. The maximum LTV for interest only lending has been reduced from 75% to 60%. Applications up to 80% LTV can be split, with a maximum 60% on an interest-only basis and the remaining 20% on a capital-and-interest basis, while any loan above 80% must be wholly on a repayment deal.

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Ben Bailey Homes
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Many lenders are now restricting their interest-only criteria

HSBC Offer Best Buy Mortgages

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.