Mortgage news, offers and statistics
- There were 32,000 buy-to-let mortgages worth £3.5bn advanced in Q2 this year, the highest number and value since 2008. This represents an increase of 16% by volume and 21% by value on the previous quarter.
- The number of properties repossessed by first charge mortgage lenders in the first half of 2011 was 7% lower than in the first half of 2010, according to the Council of Mortgage lenders. There were 9000 repossessions in the second quarter of this year, compared to 9100 in the first quarter. The number of mortgages with low levels of arrears between 1.5% and 2.5% of the outstanding balance, edged up from 77,800 to 78,500.
- A second charge finance company is offering to lend to up to 85% of the property's value to self-employed borrowers. There is no credit scoring and they will accept an accounts certificate as proof of income.
- Almost of a quarter of landlords are feeling more optimistic about the prospects for their property portfolios, rental income and yields, according to the Paragon Private Rented Trends Report.
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