Loan to value
Lending to first-time buyers increased by 74% in March, with 24,000 loans taken out during the month, figures from the Council of Mortgage Lenders (CML) have shown.
Sister banks Clydesdale and Yorkshire have waived the £599 fees previously payable on first-time buyer mortgages for those taking out a 95% or 90% Loan to Value (LTV) mortgage.
Lending to property investors rose 32% year-on-year, but remains at just a third of pre-credit crunch levels in 2007.
Other Loan to value articles
The total number of residential valuations conducted during April fell by 32% on a month-on-month basis, research from Connells has shown.
ING Direct has become the latest lender to cut its maximum Loan to Value (LTV) on interest-only lending from 75% to 50%.
Mortgage approvals for house purchases fell sharply to 43,450 in March, their lowest level since December 2010, e.surv has found.
Skipton Building Society has launched a range of buy-to-let fixed rates, with a maximum LTV of 75%, up from 70%.
In further evidence first-time buyers have pushed to complete on homes ahead of the end of the Stamp Duty holiday, estate agents say nearly a quarter of all January property sales were made to first-timers last month.
Lloyds Banking Group is bringing in changes to interest-only repayment vehicles tomorrow, after Santander slashed its interest-only Loan-to-Value (LTV) from 75% to 50% last week.
Leeds Building Society has begun offering two shared ownership mortgage products, over two or three years, starting 5.69%.
Legal & General has launched a range of unique five-year fixed rate exclusive mortgages with Cambridge Building Society.
Draft proposals to cap mortgage loan to values (LTVs) to stave off over-inflated house price rises could put off homebuyers and first-time buyers in particular, said Karen Barrett, chief executive of unbiased.co.uk.
TBMC, the buy-to-let and commercial mortgage specialist, has launched a buy-to-let exclusive with Hinckley & Rugby Building Society.
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