In brief

Ramesh Sharma

June 1, 2004

Infinity Mortgages has announced improvements to its lending criteria by adding to its income multiplier scheme. The improvements include the adaptation of its main income multiples to four times income with joint multiples raised to 3.5. Its buy-to-let range LTV is also to be raised to 85 per cent.

House prices the ‘next betting boom’

Betfair has partnered with Landlord Trader for the promotion of its recently launched housing price market. Dan Haysom, business development manager at LandlordTrader.co.uk, said: “Such an exchange should appeal to a breadth of people that have yet to dip their toe into the buy-to-let market perhaps due to financial constraints or those that don’t have the stomach for such risks. Everyone these days has a view on the housing market.”

My Mortgage Direct survey reveals remortgage increase

My Mortgage Direct’s quarterly survey has revealed a healthy remortgage market and also a building boom. Paul Hearnden, managing director of My Mortgage Direct, explained: “Homeowners are choosing the more cost-effective option of increasing their borrowings to pay for home improvements and extensions rather than moving to larger properties.”

The study also showed a continued lack of first-time buyers and a growing repayment trend away from interest-only products.

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