As the dust settles on the Budget news, the market turned its attention towards the feasibility of 95 per cent loan to value deals as some banks have taken steps to tighten their affordability policies in recent weeks.
Concerns that restrictive loan to income (LTI) policies could freeze first-time buyers out of the market, drove an analysis of the impact of LTIs on first-time buyers to the top of the most read stories this week.
Elsewhere, innovation from Habito in the form of a 40-year mortgage and Metro’s foray into near prime lending grabbed attention.
Updates to the cladding guidelines and an extension to the eviction ban made for a busy week in the mortgage and housing markets.
Loan to income changes could shut first-time buyers out of 95 per cent market – analysis
Mortgage commitments soar as high-LTV lending plummets and rates rise – FCA
Metro Bank launches near prime mortgage range
TSB reduces high LTV rates and Accord amends affordability calculations
Tightening mortgage affordability will limit house price rises – OBR
RICS updates EWS1 cladding guidance to ‘unlock’ the market
Updated: Habito launches 40-year fixed rate mortgage with £1bn fund and stepped LTIs
Eviction ban extended – but still no financial support for tenants
NatWest cuts rates and sets up stamp duty broker support line to push cases through
Virgin Money and Atom Bank execs join Perenna ahead of 30-year mortgage launch