19/02/2021
House Prices Up!
Mortgage Rates Down!
Portfolio Limits Increased!
Stress Test Rates Decreased!
Low EPC is Rewarded!
SDLT Holiday Deadline extended?
No Personal Guarantee Company Mortgages?
& lot more in this week's Bespoke Finance Property Update for .
Update for 19 February 2021
🧲 TSB and Vida Homeloans are cutting interest rates on their buy-to-let mortgages by up to 50 basis points.
🧲 Accord has extended its buy-to-let (BTL) portfolio lending criteria for established landlords. Has also increased the total number of BTL mortgages a borrower can have with it from three to five. With the total maximum portfolio size limit removed altogether.
( Source: https://www.mortgageintroducer.com/accord-ups-maximum-lending-limits/ )
🧲 Metro Bank has cut its buy-to-let stress rate on five-year fixes from 4.5% to 4%.
( Source: https://www.mortgagesolutions.co.uk/news/2021/02/18/metro-banks-adds-85-and-90-per-cent-ltv-mortgages-and-cuts-btl-stress-rate/ )
🧲 LendInvest has reduced rates across its 5-year fixed rate BTL range, with its 65% LTV product now available from 3.29%. Furthermore, it is also currently offering cashback towards legal fees of 0.25% of the loan amount. "“Providing our landlords with choice when it comes to product selection is essential to assisting them with their portfolio growth plans," said LendInvest ( Source: https://www.mortgageintroducer.com/lendinvest-launches-special-edition-btl-products/ )
🧲 Foundation Home Loans launches remortgage to reward landlords with Energy Performance Certificate (EPC) rating of C or above. "we’d like to reward landlords who make further progress" said Foundation Home Loans.
( Source: https://www.mortgagesolutions.co.uk/specialist-lending/2021/02/16/foundation-launches-epc-minimum-btl-remortgage-and-fleet-cuts-rates/ )
🧲 Fleet Mortgages has reduced rates on mortgage products across its standard, limited company and HMOs ranges. "Compared to our competitors we believe these cuts mean our product rates are extremely attractive and will allow landlords to secure the higher loan amounts they want and need at an excellent price," said Fleet Mortgages
(Source: https://www.mortgageintroducer.com/fleet-cuts-mortgage-rates-across-all-ranges/ )
🧲 Skipton Bank has called for an extension to the Stamp Duty Land Tax (SDLT) deadline. “Whilst we welcome encouraging noises from the Chancellor regarding a possible six-week extension to the stamp duty waiver, we call on him, in his own words, to ‘go further’" said Skipton.
(Source: https://www.mortgageintroducer.com/sdlt-extension-required-now/ )
🧲 First Time Buyers are back. The number of high loan to value (LTV) mortgages on the market has jumped in the first few weeks of 2021, providing first-time buyers with more choice. Lenders added 29 new 90 per cent LTV deals in the first two weeks of February. (Source: https://www.mortgagesolutions.co.uk/news/2021/02/16/first-time-buyers-have-greater-mortgage-choice-as-lenders-step-back-into-market-moneyfacts/ )
🧲 e.Surv says average house price up 8.& in England and Wales. On a monthly basis, average property prices rose by 1.2% between December 2020 and January 2021. “Indeed, our data shows that the remarkable growth in property prices we saw in the second half of last year has continued into 2021." said e.Surv ( Source https://www.mortgageintroducer.com/e-surv-average-house-prices-up-8-7-england-wales/ )
🧲 Office for National Statistics says the Average House Price soars £20k in 2020 to break £250k barrier. The agency reported an average increase of 8.5 per cent over the year to December, the highest annual growth rate since 2014. (Source: https://www.mortgagesolutions.co.uk/news/2021/02/17/average-house-price-soars-20k-in-2020-to-break-250k-barrier-ons/ )
🧲 No Personal Guarantees! On LTD Company Buy-to-Let Mortgages under 50% LTV is still possible for the right client.
🧲 Our sister company Cyborg Finance has launched a Loan-to-Value Calculator, you've seen them before but it's very nice and worth a bookmark ( https://cyborg.finance/mortgage-tools/loan-to-value-calculator )
