Latest News & Views
Two thirds (66%) of potential first-time buyers feel guilty about receiving help from family to complete their purchase.
The first-time buyers report by Yorkshire Building Society, which Accord Mortgages is a part of, shows 66% aged 18-40 would feel remorseful about leaning on financial support from the Bank of Mum and Dad.
Relying on family members is becoming the norm according to the report, with 59% of prospective homeowners expecting to receive financial support to buy a property, and a third (31%) expecting to receive financial help with their deposit.
Borrowers are taking advantage of competitive mortgage deals ahead of the biggest maturity period in five years, data from CACI has shown.
In September and October more than £35bn worth of mortgages are due to mature, 70% of which came from intermediary business.
Many borrowers could see a significant reduction in their monthly repayments thanks to a favourable shift in house prices and interest rates.
Skipton Building Society has cut interest-only rates at 60% and 70% loan-to-value.
To 60% LTV the lender’s 2-year fix stands at 1.69% after a reduction of 0.10% and its 5-year fix costs 2.15% after being cut by 0.09%. Both products come with no completion fee.
To 70% LTV 2-year fixes cost 1.79% with no fee and 1.43% with a £1,495 fee.