As part of the revamp, Pepper Money has repriced rates across its residential and buy-to-let products, with the most notable change being a 0.20% reduction on the Pepper 24 5-year fixed rate, which is now available for 3.77%.
There were 24,880 new first-time buyer mortgages completed in February 2019, up 4.1% year-on-year while the were 4,800 new buy-to-let home purchase mortgages completed in February 2019, down 7.7% year-on-year.
On average, 23% of homeowners have converted living space into an additional bedroom, with a quarter of making these adaptations within the last two years.
Annual wage growth stands at 3.4% which compares to an average annual rate of house price growth of 2.0%, RightMove’s latest House Price Index has found.
Buyers could save £178,500, 77% of the average UK house price, by buying a property rather than renting over 40 years. And 67% of Brits said they see renting as just a way of lining someone else’s pockets. Santander has extended its mortgage terms to up to 40 years.
The report entitled ‘Cracking the Care Code’ showed about 44% said they would use savings and investments to fund some or all of their care, 40% believe their pension income will be enough and around 19% said they would need to use property wealth.
Rents in London and the South East are 18% higher than in Q4 2007. Both regions have experienced weaker growth over the past two to three years. Affordability peaked in 2015 at 45% of net earnings.
With a dashboard of real time data for advisers and introducers, TrackerHub allows both parties to monitor how cases are progressing, from initial referral to completion, and the commission received.
This is from 1 April 2016 to 1 April 2019 for higher-rate tax payers, assuming a 65% loan-to-value mortgage, 3% annual interest; and a 4.5% rental yield. Meanwhile over the same period investors in corporate residential landlords have seen a return of 37.7%.
The platform, which launched a pilot at the end of 2018, provides borrowers looking for business and property finance with the opportunity to submit their loan request to multiple lenders in one place, scanning the market to match their circumstances with lender criteria.