Homebuying has been branded ‘prohibitively expensive’ as it emerged a first-time buyer must devote 36% of their take-home pay to fund their mortgage repayments.
Read MoreMortgage repayments eat into a third of first-time buyers’ pay
Category: Mortgage
Nationwide’s new mortgage rule gives first-time buyers less of a helping hand
Nationwide has dealt first-time buyers on modest incomes a blow by upping the minimum income threshold on its sole applicant Helping Hand mortgage from £35,000 to £40,000.
Read MoreBig rise in numbers paying mortgages into their 70s
There’s been a big rise in the number of people taking out mortgages with a term of 35 years or more, which will see them paying off their loans well into their 70s.
Read MoreBritain’s biggest mortgage lender expects three interest rate cuts this year
The boss of Britain’s biggest mortgage lender has told Sky News he expects three interest rate cuts this year, bringing some relief to borrowers and mortgage holders.
Read MoreTop nine tips on accessing a mortgage as a first-time buyer
Getting that first foot on the UK property ladder can feel like an uphill struggle for first-time buyers with their dream home seeming tantalisingly out of reach.
Read MoreCan first-time buyers still buy a home before stamp duty jumps on 1 April?
First-time buyers are rushing to purchase homes before the stamp duty they need to pay rises.
Read MoreFour major mortgage lenders all increase rates at the same time: Here’s why more may follow…
Major banks have begun increasing mortgage rates in response to renewed economic uncertainty.
Read MoreWill UK Mortgages Get Cheaper in 2025?
Earlier this week we published an outlook for UK house prices. Now we look at mortgages, a key driver of housing market activity. Without the £1.7 trillion of mortgage finance, the whole ecosystem can’t function effectively. And that financing suddenly got more expensive in 2022 after a rapid increase in interest rates. While mortgage rates started to fall in 2024, there are some risks to the narrative that affordability will improve significantly this year. A surprise curveball has come from the UK government bond market in recent weeks.
Read MoreMortgage rules could be eased to boost loans
Strict rules on mortgage lending could be loosened to allow more people to borrow for a home, as regulators respond to a call to boost the economy.
Read MoreHSBC debuts high earner product, cuts resi rates
HSBC will introduce a new fixed-rate product for high earners and launch a range of residential rate cuts on Monday.
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