http://www.bayfinance.co.uk Just another WordPress weblog Wed, 15 Jul 2009 11:44:54 +0000 http://backend.userland.com/rss092 en Consumers using low mortgage rates to overpay on their mortgages could be profiting instead by investing excess cash in savings Borrowers on ultra-low tracker mortgages are being urged to stop overpaying and instead take advantage of some of the top savings deals. Tracker deals have tumbled with Bank rate, which has ... http://www.bayfinance.co.uk/mortgage-news/when-it-doesnt-pay-to-overpay-on-your-mortgage/ Yields in the private rented sector have continued to strengthen as buy-to-let landlords experience growing levels of tenant demand, research from Paragon Mortgages has revealed. Paragon’s Trends research, a panel-based survey of experienced landlords, showed that average yields rose to 6.4% in the second quarter of 2009, up from 6.2% ... http://www.bayfinance.co.uk/mortgage-news/rental-yields-continue-to-strengthen/ Price expectations rose for the first time since May 2007, supported by low levels of stocks on surveyors' books and increasing buyer enquiries, according to the Royal Institution of Chartered Surveyors (RICS). Evidence that activity in the housing market is picking up, albeit from very low levels, has increased surveyor ... http://www.bayfinance.co.uk/mortgage-news/house-price-expectations-on-the-rise/ The Council of Mortgage Lenders (CML) has welcomed the Government's moves to support and strengthen the quality of the private rented sector. In particular, the CML believes it is important to recognise that the legal position of tenants whose landlords default on their mortgage will vary, depending on whether their ... http://www.bayfinance.co.uk/mortgage-news/trade-body-backs-rental-sector/ First-time buyers and home movers are benefiting from the lowest debt servicing costs since 2004, according to the Council of Mortgage Lenders (CML). This is despite borrowers needing large deposits to be able to enter the market and overall lending remaining constrained. House purchase lending accounted for 35% of all mortgage lending ... http://www.bayfinance.co.uk/mortgage-news/mortgage-affordability-hits-five-year-high/ The Coventry has reduced the rate on its 5 year residential mortgage by 0.2 per cent to 4.49 per cent. The offer is highly competitive and includes a free valuation up to £640 and a free legal package for those wishing to remortgage. In addition, the Coventry is launching a 3 year ... http://www.bayfinance.co.uk/news/coventry-cuts-rate-on-5-year-fixed-mortgage/ Home buyers may have the size of their mortgage limited to a multiple of their income under possible reforms outlined by the Financial Services Authority yesterday. Prime Minister Gordon Brown has advocated a maximum loan-to-value level of 90% but Lord Turner, FSA chairman, said: 'A key choice in product regulation would ... http://www.bayfinance.co.uk/mortgage-news/fsa-proposes-income-based-limits-on-mortgages/ Potential first-time buyers (FTBs) who are considering purchasing a home should wait until the deals being offered by mortgage lenders have improved. This is according to Paul Holmes, chief executive officer of property advice website Firstrung, who suggested that such people should delay securing home loans until banks and building societies ... http://www.bayfinance.co.uk/mortgage-news/first-time-buyers-mortgage-deals/ House hunters have made a significant return to the market but home sellers are in short supply, according to the latest Royal Institution of Charterer Surveyors report. It said that new enquiries from potential home buyers increased for the sixth consecutive month in April, taking the number of surveyors reporting rising ... http://www.bayfinance.co.uk/general-news/agents-report-surge-in-buyer-interest-rics/ Homeowners in the UK have been encouraged to consider securing fixed-rate mortgages in order to take advantage of the current low interest rates. According to Alliance & Leicester Mortgages, there are deals available at the moment for as low as 2.99 per cent. Despite this, the bank found that 81 per cent ... http://www.bayfinance.co.uk/mortgage-news/homeowners-encouraged-to-consider-fixed-rate-mortgages/