Industry reacts to new housing secretary Gove mortgagestrategy.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagestrategy.co.uk Daily Mail and Mail on Sunday newspapers.
Pure Retirement is introducing personalised interest rates based on each equity release borrowers’ postcode, property type, age and loan amount. The lender is bringing in the new pricing model for its Classic lifetime mortgage range. Its Heritage and Sovereign product ranges will continue to offer rates based on age
News analysis: ‘Breathing space’ rules for debtors come into force
Up to 700,000 people should benefit from the changes, which allow a 60-day grace period, as figures show mental health has suffered during the pandemic
By Leah Milner 12
th May 2021 2:42 pm
Landlords, mortgage lenders and other creditors will need to comply with new rules that came into force this month requiring them to offer ‘breathing space’ to tenants or borrowers with debt problems.
The government estimates that up to 700,000 people will benefit from the changes, which allow them a 60-day grace period to put a payment plan in place without interest and fees piling up, letters chasing them for payment or enforcement action being taken. Those who are suffering from acute mental-health issues will have the duration of their crisis treatment plus 30 days.
Feature: Catering for post-pandemic life
Coronavirus has undoubtedly changed the world but how will it change the UK mortgage market? Emma Lunn talks to the experts
By Emma Lunn
Excluding the dark days and high death rate of January, 2021 has so far been a cause for optimism. The coronavirus vaccination programme is going well and the end of lockdown restrictions is in sight.
But how will the mortgage market react to a radically altered world? Are we likely to see a spate of niche products tailored to the new ways we live and work?
The Intermediary Mortgage Lenders Association’s recent report – The New Normal – identified the 31 March stamp duty holiday deadline as the single biggest barrier to the market’s recovery in 2021.
Has it ever been harder to get on the property ladder? thisismoney.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisismoney.co.uk Daily Mail and Mail on Sunday newspapers.