Mortgage News

July has seen the lifetime mortgage market continue to offer highly competitive rates, with some of the most competitive rates lower when compared with those available in June. This is good news for homeowners looking to release equity in their home, however, those considering equity release should keep in mind that it has a long term impact on finances and they should speak to an independent financial adviser to ensure it is the best option for their circumstances.

The plans highlighted below are not endorsed by Moneyfacts.co.uk but have been chosen as they offer competitive rates for the scenario that we have selected. It should be noted that other plans are available that offer similar competitive rates but may offer incentives, such as cashback, that suit the borrower’s needs better – as such borrowers should speak to an equity release broker who will be able to select the best plans for individual requirements.

Nationwide Building Society made headlines this week offering the first sub-1% five year fixed mortgage deal on record. This 0.99% deal is available in both our remortgage and moving home charts, although borrowers should be aware that a minimum loan is required. Nationwide Building Society also launched new three year fixed deals in the remortgage and moving home charts, again resulting in it offering the lowest three year rates in these charts with a sub-1% deal.

Although this round up has highlighted the lowest rates in the mortgage charts, borrowers should remember that the lowest rate may not be the best deal and instead they should consider the total cost of the deal, taking into account products fees, as well as flexible features available. Those unsure of which deal is right for them should consider speaking to a mortgage broker who will be able to provide advice on the best deal for their individual circumstances.

Last year saw a boom in pet ownership, but for many people having a four-legged friend can make finding rental accommodation a challenge which could prove a lucrative investment opportunity for landlords.

Allowing pets in rental homes has become a growing issue and government statistics estimate that just 7% of private landlords advertise pet friendly properties. Although earlier this year the Government aimed to tackle this issue with its Model Tenancy Agreement that makes it easier for tenants with well-behaved pets to find rented accommodation, the growing number of pet ownership means that many tenants with pets still struggle to find suitable accommodation.

As a result of this, those considering a buy-to-let (BTL) investment may find that that their investment is more successful if they allow tenants to have pets in the property.

It has become common for aspiring homeowners to turn to the bank of mum and dad to realise their dream of owning their first home, but for some, grandparents can also have the assets to help them get onto the property ladder.

In fact, grandparents may have more resources at their disposal than parents that can be used to help the younger generation to buy their first home. Here we’ve looked at some of the most common options available to grandparents wanting to help their grandchildren onto the property ladder.