Latest OliverFinn mortgage bulletin: it’s been an encouraging start to the spring in the mortgage market.
- Mortgage lending increased in February after a slower than expected start in January. There was an increase in lending with both First Time Lenders, borrowing an average of 80% loan to value and Home Movers remaining at around 70% loan to value.
- Santander has reduced rates in the past week by up to 0.16% in places. This is yet another sign of the fluctuations in the market. The main lenders are all jockeying for position, so that they can ensure their market share is maintained. This is good news, as the increased competition could drive rates down.
- Nationwide has restricted full interest only mortgages to 75%. This is in line with the rest of the market, in a pre-emptive move before the FSA (Financial Services Authority) issues guidelines on interest only mortgages later this year.
- Slight changes in new build rates this week, no changes to loan to values available. Mostly improvements in rates at lower loan to values and on buy to let. There are still only a couple of lenders that lend at 85% loan to value.
What is the FSA register?
The FSA register is a record of all the firms, individuals and other bodies that fall under our regulatory jurisdiction under the Financial Services & Markets Act 2000 (FSMA) and the Money Laundering Regulations 2007.
How do I find the best rates?
To check out the best rates of the week or any other mortgage enquiries please get in touch with fixed fee estate agent OliverFinn.
Chiswick Notting Hill Clapham
How much can you realistically afford to spend on a property?
Mortgage calculator shows your monthly repayment options.
