ASPIRING homeowners have more and more ways to get on the ladder with very small deposits or without any savings at all.
Read MoreThe best low deposit mortgages for first-time buyers where you can buy a home with no savings
Tag: Nationwide
Some mortgage rates cut below 4% as competition picks up
Two major lenders launched mortgage deals on Thursday with interest rates of less than 4%, as competition picks up in the sector.
Read MoreThe unusual mortgage payment trick that could clear debt five years earlier
Households may be able to save tens of thousands of pounds in mortgage interest payments by changing when they make their repayments.
Read MoreIs now a good time to buy a house?
The uncertainty of the general election and Autumn Budget are out of the way and interest rates have been cut, so is now the right time to buy a new home?
Read MoreMortgage repayments eat into a third of first-time buyers’ pay
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 MoreNationwide’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 MoreVolatile housing market this year despite mortgage resilience – Nationwide
Mortgage market activity and house prices proved surprisingly resilient in 2024 given the ongoing affordability challenges facing potential buyers.
That’s the view of the Nationwide, in a market snapshot suggesting a strong start to 2025 after a broadly strong 2024 too.
Read MoreBudget fallout triggers surprise fall in mortgage approvals
The number of mortgage approvals made to home buyers dipped in November, although it remained above the monthly average seen over the past year, according to Bank of England figures.
Some 65,700 mortgage approvals for house purchases were recorded in November. That’s some 2,400 lower than October but above the previous 12-month average of 60,400.
Read MoreHouse prices rise at fastest pace for more than two years
House prices rose at the fastest pace in more than two years, according to the latest figures from Nationwide.
The average home has increased in value by 3.2 per cent over the past 12 months after a 0.7 per cent rise in the month of September.
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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