OBR raises forecasts for mortgage rate and house price growth
Oct 31, 2024 · The Office for Budget Responsibility (OBR) has increased its forecasts for house price and mortgage rate growth over the next five years. Average interest rates on existing mortgages are expected to rise from around 3.7% this year to a peak of 4.5% in 2027, where they are forecast to remain until 2030, the OBR said in its Economic and Fiscal Outlook.
Autumn Budget 2024: Stamp duty to rise to 5% on second homes, …
Oct 30, 2024 · Stamp duty is increasing from 3% to 5% on second homes from tomorrow, costing landlords an extra £7,000 on an averagely priced property. Chancellor Rachel Reeves announced the surprise tax increase in the Autumn Budget, claiming it would help first …
Nationwide to allow first-time buyers to borrow six times their …
Sep 23, 2024 · David Hollingworth, associate director of communications at L&C Mortgages, said: “Helping Hand has been a front runner in expanding the range of options open to first-time buyers who continue to struggle with affordability. Building an adequate deposit is hard enough, especially when the available mortgage borrowing is capped, and prices remain high.
Autumn Budget 2024: What it means for the mortgage and …
Oct 31, 2024 · Landlords could face one-month limit on advance rent in Renters’ Rights Bill amendment • Damp and asbestos are top issues missed by buyers skipping home surveys • Aspen lowers bridging rates and ups max loan size • Average mortgage broker fee unchanged since Consumer Duty, survey finds •
Duffy steps down as Virgin Money CEO as Nationwide completes …
Oct 1, 2024 · Nationwide has completed its buyout of Virgin Money, becoming the second-largest provider of mortgages and savings accounts in the UK. As part of the acquisition, David Duffy, chief executive and executive director of Virgin Money, has departed his role, and he has been succeeded by Chris Rhodes.
Exclusive: New lender Afin Bank launches to serve Africans in the UK
Oct 21, 2024 · Afin Bank, a specialist lender targeting African nationals living and working in the UK, is set to launch to market next year. Afin Bank is currently in the mobilisation stage and has been granted its banking licence Authorisation with Restrictions (AwR).
Coventry BS to buy Co-op Bank for £780m - Mortgage Solutions
May 24, 2024 · Coventry Building Society said it would remain a mutual and was committed to being an independent, member-owned building society. The Co-op Bank will be integrated into the mutual “gradually over the years” and, during this period, …
The British Later Life Lending Awards 2025 | Mortgage Solutions
Best Later Life Adviser – five or fewer advisers We are looking for you to recognise firms rather than individuals. Your nomination should be based on a combination of the company’s commitment to the best possible outcome for its customers across the whole later advice spectrum, business performance and the consistent quality of its advice.
Mortgage rate war comes to possible ‘halt’ as swap rates creep up
Oct 9, 2024 · The recent mortgage rate war seems to have ended as swap rates rose above 4% this week. According to Chatham Financial, the two-year swap rate was 4.06% as of 7 October, while the five-year swap rate was 3.81%.. These were both higher than respective rates of 3.91% and 3.56% in September.
Mortgage Solutions
Advise Wise to offer one-click instruction feature to Forever Legal’s later life services • Portals and estate agents not giving consumers enough property information, HOA says • TSB changes residential, product transfer and additional borrowing rates • Twenty7tec broadens NatWest integration to all Velocity users •