Mortgage Revival
If like me, you have been left feeling disappointed by the increasing limitations of low LTVs mortgages and huge deposits, then this piece of news Will interest you.
In the last few weeks, new and exciting mortgage deals have been re-appearing on the lending market, bringing with them the promise of great interest rates, affordable LTV’s and easy accessibility.
Take a look at the following… such deals as these haven’t existed for months!
HSBC: 90% LTV on a 2 yr fixed loan of 4.99%
Yorkshire Bank: 90% LTV 2 yr fixed loan of 5.99%
Post Office: 90% LTV 5 yr fixed loan of 6.01%
And these are just the average mortgages. Banks have also been re-introducing new buy-to-let mortgages, that I have to admit are much more appetising than they have been in recent months.
Yorkshire Bank for example are breaking the 75% LTV norm by offering mortgage loans of 80% LTV – a 5% increase!
This is great news for investors who are currently using their own money to invest in property. With this extra 5%, investors can now more successfully use their property investment strategies all at an affordable price.
Yet this is not all banks are offering to entice individuals back onto the property market. They are also offering incentives to peak your interest.
Halifax for instance is pledging to pay a borrowers Council Tax for a whole year if they choose to take out a mortgage with them, which is not bad when you consider that the average Council Tax is over £1,000 a year.
With such tempting deals appearing on the property market – for homeowners and investors alike – it is impossible to deny that the property market is on the verge of change. It is just a question of taking action fast enough before the property market decides to change again!
