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overtake Mortgage strategy the most popular news of this week. Rumors are mounting about a new EPC deadline for landlords, and most older homeowners have no plans to lay off their workforce. Read more below:
Speculation mounts over new EPC deadline for landlords
Speculation is growing that the deadline for landlords to meet new minimum energy efficiency standards for new tenants will be extended. According to The Telegraph, “It is now clear that the deadline will be set in 2028 and will apply to all rental properties.”
HSBC Announces Resi and BTL Cuts Starting Tomorrow
HSBC has announced changes to its mortgages and home loans effective March 28. Rates have been reduced across a range of products for existing borrowers, new buyers and carriers, remortgagors, existing and new BTL clients and international private clients.
Most older homeowners don’t plan to downsize: key
Most older homeowners — 70% of Key’s 1,000 — don’t plan on layoffs. And while 29% of survey participants say they plan to lay off staff within the next five years, the equity firm found that only 13% of those over 75 went for it and did it.
Nearly half of households are concerned about mortgage payments: L&G
According to Legal & General, nearly one in two households are concerned that they will be able to pay their mortgage and rent next year. According to the L&G UK Recovery Index (RBI) released today, 95% of working UK households have seen their real wages fall over the past 12 months as wages fail to keep pace with inflation.
The Mortgage Works launches BTL 55% LTV line
On March 30, The Mortgage Works will launch a buy-to-let program of 55% of the loan value for new and existing customers, which covers home purchases and remortgages.
Rent growth slows to 11.1%, but market is still hot: Zoopla
UK annual rents fell to 11.1%, or an average of £1,078 a month, in the first quarter of the year, data from Zoopla show, but it adds that private sector spending on tenants ‘will continue to outpace income growth’ this year . year. Rental prices have eased from a high of 12.3% in the middle of last year as economic growth wanes, according to the online firm’s latest quarterly report on the UK rental market.
Weekly Interest Rate Watch: Margin Decline Despite BOE Rate Raise
Data from Moneyfacts shows that all average rates for the week beginning March 20 fell despite the Bank of England raising its base rate by 25 basis points to 4.25%.
Foundation Home Loans updates BTL and resi ranges
Foundation Home Loans has updated its core rental and home loan lines with the launch of new products in both areas. In the main BTL range, a specialized brokerage lender has introduced a new level of F1 – for clients with a near-clean credit history – with two- and five-year fixed interest rates on a loan up to a cost of 75% with rates from as low as 6.24. % and a product fee of £1,995.
Dudley BS appointed open to transform large mortgage offer
The Dudley Building Society has announced plans to convert its core mortgage offering into intermediaries following a merger with a cloud banking solution provider. The 165-year-old society is investing in its digital platform to “significantly improve” its services to intermediaries by changing the way mortgages are issued.
MT Finance launches BTL product, marking the start of a ‘new chapter’
MT Finance has launched its buy-to-lease (BTL) product on the market, which the lender says marks the beginning of “a new chapter in its 15-year history.” Previously partnered with a select number of brokers, the BTL product is now available to all brokers in England and Wales.
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