25 October 2017 | Admin | 0 Comments
Here is a summary of the key changes and announcements in the mortgage market for this week.
- M&S (yes, really, Marks and Spencer!) have announced plans to launch a mortgage range through brokers from early next year. After the success of M&S Money, the retail chain is looking to further enhance the finance side of the business. This would follow on from recent launches by Tesco and Sainsburys into the mortgage market. It will be interesting to see what products M&S will be offering to borrowers in 2018.
- Newcastle Building Society is making a concerted effort to help first time buyers by reducing the rates. As most FTBs have a lower deposit level, Newcastle has looked at the 95% LTV range and dropped rates to 3.39% with fees of £999. This rate also comes with free mortgage valuation and £200 cashback.
- Another lender to cut rates at the higher LTV bracket is Coventry Building Society. CBS have cut rates for 5yr fixes at 90% LTV and this is now 2.69%. This could be good for a borrower looking for longer term security, even with a low deposit.
If you would like a mortgage quote or further information call us on 0333 444 1007 and we will refer you to one of our trusted partners.