News

News!!

Some banks and building societies are failing to lend to the levels needed, even after govenment intervention
UK Bank Base Rate to remain low for the foreseeable future
Lenders are implementing Collars (rates can not fall below this rate)
Some lenders closed to new business until 2010 or 2011 for buy to let and commercial
Variable rates are increasing
Lenders not prepared to lend "outside the box"
Some lenders are credit scoring on buy to let mortgage applications
Over 36 buy to let lenders have either closed to new business or have been forced to close down altogether
20% deposits needed on buy to let
First time buyers starting to come into the market
Lenders will allow parents to assist first time buyers where income is short
Some lenders have started taking parents equity on their home as deposit for first time buyers allowing 100%