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Metro Bank, Nationwide and Barclays have all dropped the interest rates on their 10 per cent deposit mortgages, which are popular with first-time buyers – but rates are still higher than pre-pandemic
Bank of England ramps up stress tests for UK lenders to reflect a worst-case scenario for the Covid-battered economy By Daily Mail City & Finance Reporter Published: 21:50 GMT, 20 January 2021 | Updated: 21:50 GMT, 20 January 2021 The Bank of England has set out a worst-case scenario for the economy which it will … Read more
Santander has become the latest lender to impose harsher restrictions on self-employed borrowers, excluding them from its lower-deposit mortgage deals. The bank has said that new self-employed customers will only be offered mortgages to cover a maximum of 60 per cent of a property’s value. That means self-employed first-time buyers and most home movers will … Read more
HSBC next to bring back 10% deposit mortgages, joining raft of other major lenders including Coventry and Lloyds The lender will reinstate its 90% loan-to-value deals as of next week It follows similar moves from other banks such as NatWest and Halifax HSBC is yet to announce rates, but its competitors have set them fairly … Read more
Mortgage lenders turn against self-employed workers even if they have healthy incomes By Miles Dilworth For The Daily Mail Published: 22:00 GMT, 15 December 2020 | Updated: 22:36 GMT, 15 December 2020 Self-employed workers with healthy incomes are having mortgage applications unfairly rejected, experts warn. Banks are imposing stricter checks on anyone who works for … Read more
Investors in the money as watchdog lifts bank dividends ban after lenders post better-than-expected profits By Lucy White For The Daily Mail Published: 21:51 GMT, 10 December 2020 | Updated: 21:59 GMT, 10 December 2020 Investors in UK banks will be breathing a sigh of relief after the regulator lifted its ban on dividends. The … Read more
Millions of self-employed workers, already facing the blight of Covid-19, are receiving harsher treatment from mortgage lenders compared to salaried employees. Self-employed borrowers are being asked for bigger deposits, additional paperwork, with some lenders lowering the amounts they can borrow and subjecting them to longer waiting times with more frequent and rigorous questioning. There are … Read more
Property market panic as lenders slash thousands of pounds from value of homes, sparking fears a surge of buyers will pull out Data shows the average asking price for a home soared to £323,530 in October Came as sellers cashed in on unprecedented demand during stamp duty holiday But almost half now being told their property … Read more
Company behind Topshop and Dorothy Perkins in talks to raise £30m from lenders By Neil Craven, Financial Mail on Sunday Published: 21:51 GMT, 14 November 2020 | Updated: 23:23 GMT, 14 November 2020 The company behind Topshop and Dorothy Perkins is in talks to raise £30million from lenders. The extra cash will help bolster Arcadia … Read more
Bank of England asks lenders if they are ready for negative interest rates as part of plan to boost economy Banks should prepare for negative interest rates, says Bank of England Deputy governor Sam Woods has written to financial institutions across the UK The idea of negative interest rates is to encourage banks to increase lending … Read more