Are Interest Only Mortgages Making a Comeback?

interest only mortgages

Many homeowners feel trapped on relatively expensive mortgages, the combination of the ongoing lack of availability of mortgages and stagnant house prices.  Lenders left the interest only market in droves following indications from regulators that increased regulation was likely. According to Moneyfacts the number of lenders offering interest only mortgages reduced to just 12, which …

Read more

Maximum Loan to Value For Interest Only Mortgages Start to Tumble

The Nationwide Building Society is among a growing number of lenders slashing its interest-only maximum loan to value for residential lending.  In March the mainstream lender reduced its maximum LTV for interest only loans from 75% to 50%. Martyn Dyson, head of mortgages at Nationwide, says: “A number of major lenders have recently restricted their …

Read more

Property Developers Report Increased Profits

Property developer, Bovis Homes Group have shared some good news in their preliminary results for the year ending 31st December 2011. They report an operating profit of £36m for 2011, an increase of 69% on the previous year. The background makes quite positive reading too. There were 2045 completed home sales, an increase of 8%. …

Read more