Royal Bank of Scotland and Natwest are to increase the minimum size of deposits that landlords must pay from 15 to 25 per cent of a property’s value from the end of today. The banks, which previously lent up to 85 per cent of a buy-to-let property’s value, said the move was a defensive measure …
Monthly Archives: March 2008
CML Says Equity Release Mortgages Market is Not Performing
The CML reported that the equity release mortgages sector is not performing well. Equity release allows home owners to release cash from their property. However the CML believes that the poorest people in the UK are not helped by equity release mortgage deals, due to a number of factors including the Government’s position regarding equity …
Bulgaria Reported Top Property Market
Bulgaria was reported as the best performing property market; in the spite of concerns over the level of oversupply of Bulgaria holiday properties, and the skepticism of many property investors. Bulgaria’s property prices rocketed 30.6 percent last year outperforming the rest of Europe. On the whole, property prices growth is slowing down globally. An 8.2 …
Mortgages plc Withdrawn From The Prime Buy-to-Let Market
The wholly owned subsidiary of Merrill Lynch will continue to process prime buy to let applications until close of business on Wednesday 26th March, but will accept no new applications thereafter. Polly Hughes, head of marketing at Mortgages plc, said: We have seen both an increase in the number of new buy to let applications …
NatWest Introduced New Buy to Let Mortgage Rates
As from today (20 March 2008), NatWest introduced new rates to two of its buy-to-let products. NatWest buy to let mortgages: 5 year fixed rate (max LTV 85%) will increase to 5.99% from 5.50% with a £1,999 arrangement fee until 30 June 2013. 2 year discount (SVR +2.19%) (max LTV 85%) will increase to 5.75% …