Tag: Coventry Building Society
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Housing Market Slump Cut Stamp Duty Income by a Quarter
Recent figures have revealed a significant downturn in the UK housing market, marked by a sharp decrease in stamp duty receipts. Over the past year, property transactions plummeted by more than 20%, falling to 1.2 million homes, accompanied by a 23% drop in mortgage lending, which fell to £130 billion according to data from UK…
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London Lettings – A Modest Increase as Spring Approaches
Foxtons, a leading name in London real estate, has reported a slight improvement in the capital’s lettings market as demand gradually picks up. February to March 2024 has witnessed a 9% rise in demand in the London lettings market, a positive signal amid the hustle and bustle of the city’s housing scene. This upturn comes…
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Mortgage Rate Roundup – What’s New This Week?
The latest update reveals a mix of stability and slight increases, but with some golden opportunities for first-time buyers and those looking to remortgage. Here’s a breakdown of the latest trends and standout deals. This week, the leaderboard of mortgage rates has seen little to no movement, with the most significant change being a slight…
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Coventry for Intermediaries Boosts Landlord Borrowing Power
Coventry for intermediaries has revamped its affordability criteria for buy-to-let mortgage applications, promising easier access to funding. This change means landlords can now borrow more against their rental properties than ever before, thanks to a generous reduction in the reference rates. Previously, a basic rate taxpayer earning £900 in rental income and eyeing a five-year…
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Coventry Building Society Cuts Rates
Against the recent trend of climbing mortgage rates, Coventry Building Society has announced a series of cuts across its mortgage range. While many lenders have been hiking up their rates, Coventry Building Society is taking a different route. The society has declared a reduction in rates for various fixed-rate mortgages, specifically targeting two-, three-, and…
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Coventry Building Society Joins Rate Hike Bandwagon
Coventry Building Society has announced an imminent increase in its mortgage rates. This decision places additional pressure on aspiring homeowners, particularly at a time when many are already grappling with the rising costs of living. Starting from tomorrow, Coventry Building Society will elevate rates for all new residential and buy-to-let products aimed at new borrowers.…
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Mortgage Costs on the Rise Amid Economic Shake-Up
Mortgage costs are on an upward trajectory as banks brace for a period of prolonged high interest rates, leaving millions of homeowners facing steeper bills. This development comes at a time when economic uncertainty looms large, casting a shadow over the financial market and complicating the path forward for those looking to secure or renew…
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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…
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Coventry Building Society Reduces Mortgage Rates for Homebuyers and Landlords
Coventry Building Society has announced sweeping reductions across its range of buy-to-let mortgages, with cuts going as deep as 0.40%. But it’s not just landlords who are set to benefit; prospective homeowners and those looking to move up the property ladder are also in for some good news, thanks to reduced rates on selected residential…
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Landlords – Time to Fix or Track? Best Buy-to-Let Mortgage Deals
Buy-to-let landlords in the UK are currently grappling with a challenging environment, marked by rapidly increasing interest rates, soaring costs, and a less accommodating tax regime. These changes have significantly escalated the expenses for many landlords, paralleling the concerns of homeowners and first-time buyers. Since the beginning of the year, a fierce competition among lenders…