100% Mortgages for First Time Buyers

Britain's biggest lender is to offer 100% mortgages for first time buyers, if the buyer has family that can stand behind the loan.

The new 100% mortgage known a 'Lend a Hand Deal' will mean a first time buyer can borrow up to £500,000 without having to put a penny deposit down. The Lloyds deal requires that a member of the family, such a s a parent, grandparent or close relative - helps out. The bank will only grant the 100% mortgage if the family member puts a sum equal to 10% of the value of the property into a Lloyds savings account.

The deal is structured so that 'the bank of mum and dad' can help out their children, yet still keep control of their cash savings that they will need later in life, Lloyds will pay interest on the amount deposited.

Bank of England raises UK interest rates

The UK interest rate rises to 0.75% the highest level since March 2009

House prices fall 0.1% in August 2017

The average price of a home fell 0.1% in August to £210,495, taking the annual growth rate down to 2.1% from 2.9% in July.

Latest figures from Nationwide

Redwood Bank launches new mortgage offering

A new bank has opened its doors. Redwood Bank is offering a cloud-based infrastructure which will be the first of its kind from a banking point of view. The bank will have its headquarters in Letchworth and Warrington Borough Council will have a 33% stake in the company.

Another bank adding its mortgages to the mix can only be good news, enabling a more competitive market place for mortgage shoppers.

Bank of England to place limits on buy-to-let mortgages

The Bank of England will be granted new powers to curb mortgage lending for buy to let investors to protect the economy from a possible collapse in the sector, it was announced on Wednesday.

From early 2017, the Bank will have the authority, via the UK financial regulators, to limit buy-to-let mortgage lending, both in terms of loan-to-value limits, and affordability of repayments.

Equity Release - Retirement Lending

Unlock tax-free cash and no monthly repayments to make!

A lifetime mortgage allows you to release money from your home. You can choose whether or not to make any interest payments throughout the life of the mortgage. This mortgage (as well as any accumulated interest or charges) will be repaid when you die or you move into long-term care using the money that’s generated from the sale of your home. How much money you can release from your home will depend on your age and your home’s value. To be eligible for a lifetime mortgage, you must be over 55 years old, own your own home and be a UK resident.

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Equity Release New Record Lending

*The Equity Release Council’s Q3 lending figures showed another record breaking quarter for lending: £452.6m

Tax free cash from your property

Want to know how you can turn the cash that’s locked in your home into a tax-free cash lump sum? Then you’ll need to get in touch with an experienced mortgage advisor who can provide you with expert advice that’s tailored to your needs. Many people who are looking for mortgage advice join forces with Avenue Financial Services. Based in Solihull, the company serves clients throughout the West Midlands and beyond.

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Equity Release Hits New High

Lifetime Mortgages and Home Reversion Plans are now seen as an alternative way in creating a cash lump sum or income drawdown.

In circumstances where individuals are asset rich but cash poor, sums raised can be used for holidays, home improvements or to help with the cost of living.

Relevant Life

Put Life Cover On Expenses.

A Relevant Life Plan is a cost efficient way of offering life cover to you or your employees. It’tax efficient and, in most cases, premiums can be treated as an allowable business expense by HMRC. With Corporation tax relief available, no additional income tax or NI to pay, it’s good business for both you and your employees