The industry has been called on to come together to ensure Help to Buy purchasers meet the extended deadline for the government scheme. The Help to Buy legal completion deadline has been extended by two months to 31 May, following housebuilding delays due to the pandemic. Homes England, which administers Help to Buy,
Comment: This year’s mortgage market is already taking shape
By Kevin Roberts 5
th February 2021 12:13 pm
A mere month into 2021 and data is already giving us two different views about what might lie ahead for the UK mortgage sector.
Imla has painted a positive outlook, suggesting gross lending could climb to £283bn this year. UK Finance, though, has taken a more cautious view and expects lending to reach just £215bn in 2021.
Our view sits in the middle – we expect the mortgage market will experience modest growth in 2021, reaching circa £255bn. Yet there could still be some bumps in the road.
TML launches ‘real-life’ residential range
By Gary Adams 26
The Mortgage Lender has brought a new ‘real-life’ residential range to the market.
It says that the purchase and remortgage products are aimed at the self-employed, contract workers, retired people, those with complex incomes, borrowers with credit blips and employed borrowers. Rates start at 3.27 per cent.
Self-employed income is assessed on salary and share of profit before tax for the most recent year while 50 per cent of regular overtime and bonus is used to assess employed income, adds TML.
The products are available at up to 85 per cent and rates depend on which ‘real-life band’ each borrower falls into, depending on their circumstance.