Mortgage bulletin for week commencing Monday 31 March
A number of lenders are offering special deals to entice buyers to borrow from them. Among them, Lloyds Bank is now offering to refund two months' worth of interest on mortgage borrowing for qualifying home movers, up to a value of £1,000.
Marc Page, mortgages director at Lloyds Bank, says: "Offering a refund on the first two months' worth of interest on mortgage borrowing is a great way to help home movers settle into their new home during this expensive time. Most people want to focus on the task of turning their new house into a home as quickly as possible, and a potential refund of up to £1,000 will help them do that."
The cashback offer will be available on all home mover mortgages from Lloyds Bank, up to and including those mortgages at 95% loan-to-value (LTV), including Help to Buy products.
Halifax is offering to pay stamp duty for some first-time buyers purchasing homes between £125,001 and £250,000 before 6 May 2014 or £250 cashback to those purchasing homes at £125,000 or less. The offer is not open to buy-to-let, shared equity, shared ownership, Help to Buy (Equity Support), or NewBuy Scheme products.
Furness Building Society if offering a two-year discounted tracker at 2.95% and a two-year fixed-rate deal at 2.75%. Both products are available for loans up to 80% LTV, with a free legals and valuation package for remortgagers and £499 completion fee.
Yorkshire Building Society has an 85% LTV two-year fixed-rate mortgage at 3.54% for first-time buyers with no product fee, free standard valuation and £1,000 cash back on completion. Hinkley and Rubgy Building Society has a 2.15% two-year discounted tracker mortgage at 2.15%, and a two-year fixed rate at 2.29% both at 80% LTV. The products carry arrangement fees of £295 and completion fees of £695.
Monmouthshire Building Society is offering a two-year discounted tracker at 80% LTV, currently at 2.23% with a product fee of £995 or, for remortgagers only, 2.75% with no product fee. Both products are available on loans up to £500,000. Accord Mortgages has a range of two-year fixed-rate products at 80% LTV. The lowest rate of 2.19% carries product fees of £1,845, 2.39% with a product fee of £845 or 2.49% with a product fee of £345.
There are a number of lenders offering two-year fixed-rate mortgages at 80% LTV with no product fees. Until 30 June 2014, Santander for Intermediaries is offering a rate of 3.14% on its two-year fixed-rate Remortgage Solution 80% LTV product with no fee or as a Homebuyer Solution product at the same interest rate if completed by 29 August 2014.
As part of its core range available to all intermediaries, NatWest Intermediary Solutions has a two-year fixed rate of 3.45%, with no product fees at 80% LTV, while Barclays is offering 3.49% and no fees on its two-year fixed-rate 80% LTV deal.
Halifax is offering loans up to £1m on a two-year fixed rate at 80% LTV at a rate of 3.39% two-year fixed rate with no product fees, and a similar deal from HSBC is currently 2.79% for the fixed period, again with no booking fee.
Click here to find out more about how Whathouse.com can help you find the right mortgage.