Latest News
-
Dutch-Style Mortgages Make Their Way to UK Shores
A Dutch lender named April is introducing an innovative mortgage product that promises to make homeownership more accessible and affordable for Britons. This Dutch-style mortgage model, a first of its kind in the UK, is designed to reduce the interest rate as the homeowner pays down their loan, offering a significant financial relief over the…
-
Molo Finance Cutting Stress Rates for BTL
Molo Finance has announced significant cuts in its stress rates for buy-to-let mortgages. This adjustment, according to the company, is tailored to align with the evolving market conditions, aiming to bolster the private rental sector. Molo Finance has rolled out reductions in the stress rates of its two-year fixed and tracker mortgage products. Mark Michaelides,…
-
Leeds Building Society Cutting Rates
The Leeds Building Society has announced a significant reduction in interest rates across a variety of its mortgage offerings. With cuts as deep as 0.32% affecting 27 different products, this adjustment is poised to make homeownership more accessible and affordable for a wider range of people. A Closer Look at the Savings The changes introduced…
-
Newcastle Reduces Mortgage Rates for Self-Employed
Newcastle Intermediaries has announced a significant reduction in mortgage rates specifically designed for the self-employed. Franco Di Pietro, the head of intermediary mortgages at Newcastle Building Society, highlighted the initiative’s core aim, “We want to provide brokers’ newly self-employed clients with as wide a range of competitive options as possible in order to secure a…
-
UK’s Build to Rent Boom Continues
Growing investment for Build to Rent (BTR) properties is signaling a major shift in the way city dwellers find their homes. The BTR sector has seen an influx of £4.5 billion in investments throughout 2023, as reported by the leading lettings agency Savills. This investment marks the second highest annual figure ever recorded, slightly trailing…
-
UK’s Build-to-Rent Homes Delayed by Planning Red Tape
In recent years, the UK’s housing market has seen a significant shift with the rise of Build-to-Rent (BTR) homes. These developments are designed to be rented out immediately upon completion, offering a modern solution to the country’s housing shortage. However, new findings from the British Property Federation (BPF) reveal that the sector faces considerable delays…
-
From Bankruptcy to Millionaire, The Inspiring Journey of a Cardiff Mum
Cardiff mother of two, Nicky Bright, turned her life around from the brink of financial ruin to becoming a millionaire in just 18 months. The Daily Mail featured her heartening story, which unfolds during the challenging times of 2020, and the COVID-19 pandemic. A Rocky Start The summer of 2020 was a tumultuous period for…
-
From Fast-Food Employee to Property Mogul
The BBC features the story of Sanmi Adegoke, whose life story unfolds from facing racial abuse at a fast-food chain to becoming a celebrated property tycoon in the United Kingdom. Adegoke’s unconventional path highlights the power of resilience and the importance of leveraging one’s community. Early Struggles and Inspirational Beginnings Sanmi Adegoke’s journey began upon…
-
First Time Buyers’ Average Deposits and Prices
For many aspiring homeowners, gathering enough funds for a deposit is the first major challenge. According to Halifax, the average deposit for first-time buyers has hit £53,414, a figure that has fortunately decreased by £9,057 from the previous year. This decline mirrors a drop in the average price paid by first-time buyers, which now stands…
-
Buy To Let Mortgages Roundup – 6th February
The NRLA published a roundup of latest news and products from the BTL mortgage market. Here’s our summary – A Wave of Cuts The Mortgage Works Leads the Charge The Mortgage Works has made headlines not once, but twice in a single week, announcing rate cuts up to 0.15 percent for new customers. With rates…