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
Tag: mortgage lender
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 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 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 MoreHow the odd bet on football could cost you a mortgage
While having the odd bet on your football team to win at the weekend sounds like a bit of harmless fun, it could actually scupper your chances of getting a mortgage.
Read MoreMortgage costs ‘unlikely’ to return to low levels
The cost of borrowing money to buy a home is “unlikely” to return to the low levels seen over the past decade, the boss of the UK’s largest mortgage lender has said.
Read MoreMortgages at six times’ income for first-time buyers
Mortgage lenders’ attempts to lure in first-time buyers have stepped up with the UK’s biggest building society allowing some to borrow more.
The Nationwide said that from Tuesday, new borrowers could request a mortgage up to six times their income with a 5% deposit.
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