Metro Bank has reintroduced 85% and 90% LTV 5-year fixes. The interest rates will be 2.99% for 85% LTV and 3.29% for 90% LTV, both with a £999 product fee. Products are for purchase and remortgage on properties worth up to £600,000. Charles Morley, director of mortgage distribution at Metro Bank, said: “We’re pleased to reintroduce […]
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YBS Commercial Mortgages has launched a limited company buy-to-let product which is targeted for holiday letting properties in prime UK tourist locations on the South Coast, in the South West and Wales. The product offers a 5-year fixed rate at 3.85% for loans up to 75% loan-to-value (LTV) and a maximum loan amount of £1m. […]
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The Office for Budget Responsibility (OBR) has unveiled its latest predictions for house prices and transactions in their July Fiscal Sustainability Report. House price inflation slowed prior to the onset of the pandemic and recent indications suggest that it had fallen further since according to the OBR. The OBR set out three different scenarios for […]
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Anti-money-laundering (AML) firm SmartSearch launched into the USA today. The firm’s platform enables clients to perform electronic ID verification and screening in two seconds, and provides ongoing monitoring to alert users to any change in a client’s status. John Dobson, chief executive of SmartSearch, said: “We have developed a bespoke product for the American market […]
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An online property auction platform has launched called 247 Property Auctions, available for residential, commercial, industrial property and land lots. The company was founded by popular property auctioneer and BBC’s ‘Homes Under the Hammer’ auctioneer Scott Gray (pictured). The company is a RICS regulated firm of auctioneers. It works in partnership with estate agents and commercial […]
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US house prices have been resilient amidst the COVID-19 pandemic, Zillow research shows. The median price of sold homes in May was $263,408, up 4.6% year-on-year. This still represents a slowdown from 5.5% in March and 5.3% in April. Jeff Tucker, Zillow economist, said: “As surprising as it might have seemed at the time, sellers […]
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Kinetic Capital Limited has launched, a specialist lender in the purpose-built student accommodation (PBSA) sector. The business will initially focus on the UK and Ireland, though there are plans to expand internationally. Kinetic Capital is led and co-founded by Steve Grant and Nicholas Porter, who were chief executive and founding chairman of the Global Student […]
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Housing market activity has rebounded significantly in the past two months, research from online mortgage broker Trussle has found. In that time there’s been an 182% increase in first-time buyer mortgage applications, as well as 176% increase in next-time buyer applications, compared to the previous two months. First-time buyers are being hit the hardest due […]
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Annual house price growth in the UK has ground to a halt in June, with prices down 0.1% year-on-year according to the latest House Price Index by Nationwide. This represents the first negative annual growth since 2012 as the effects of the pandemic begin to show. Prices saw a monthly decline of 1.4% and regional […]
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Mortgage credit availability in the US decreased in June according to the Mortgage Credit Availability Index (MCAI) by the Mortgage Bankers Association. The index uses data from Ellie Mae’s AllRegs Market Clarity business information tool. The MCAI fell by 3.3% to 125.0 in June, with the decline indicating that lending standards are tightening and increases […]
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