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This is the latest in Canada Life’s capital select options range. Platinum plus offers a 6% higher loan-to-value (LTV) rate than the existing platinum product, starting at 34% for those aged 60.
MortgageGym said currently there is no way of assessing whether the average mortgage applicant can truly afford the mortgages they apply for because of the industry’s reliance on paper-based applications.
Customers are able to redeem their loan in full without the application of an early repayment charge if they need to move to a new property that does not meet Aviva’s lending criteria, subject to terms and conditions.
While landlords with an average of 12.8 properties and over 20 years’ experience in the private rented sector (PRS) remain engaged in the sector, they are now prioritising measures to bolster financial strength over portfolio expansion.
There are 2-year fixes from 60% to 75% loan-to-value (LTV), including a 2.14% with a product fee of £995, a 1.84% with a £1,995 product fee and a 2.54% without a product fee.
Over the course of 2018, homeowners over-55 years of age accessed 50p of housing wealth for every £1 of savings withdrawn through flexible pension payments, highlighting the increasing role of property wealth as a supplementary source of later life funds.
The option offers a rate of 3.86%, compared with 4.35% for Capital Select Gold, though customers over the age of 70 must have an LTV below 23%.
Dan Payne, managing director at Fluent Mortgages, believes this year will be good, if not challenging.
Some 81% of Brits believed their mortgage providers “quietly hope” they will slip onto their standard variable rate (SVR) at the end of their fixed rate period, a YouGov survey has found.
Ryan Bembridge meets Steve Olejnik as he gets his feet under the table at Mortgages for Business.