Tag Archives: Nationwide Building Society

Buy to let lenders warn of cash grab for missed payments Buy to Let News, Latest Articles

Padlock in front of coins

"Setting off could create problems for investors"

Landlords should separate their savings and current accounts from banks where they hold buy to let mortgages, loans or credit cards after threats to snatch cash without permission from a lender.

Nationwide, the UK’s biggest building society, has written to mortgage customers threatening to implement ‘setting off’ powers that lets lenders take cash from a borrower’s savings or current accounts to pay loans installments if payments are missed. Continue reading Buy to let lenders warn of cash grab for missed payments


Two jailed for fraud of £50million Latest Articles, Property Investment News

Gavel on silk backgroundA £50million mortgage fraud said to be ‘off the scale in terms of the sentencing guidelines for fraud cases’ by a judge has resulted in a combined 20 years in prison for a property investor and a chartered surveyor.

Saghir Ahmed Afzal and Ian McGarry were charged in 2009 along with six others and plead guilty to six counts. Continue reading Two jailed for fraud of £50million


Buy to let mortgage rates cut by TMW Buy to Let News, Latest Articles, Mortgage News, Property Market News

Calculator on pad The Mortgage Works (TMW) has cut interest rates across some buy to let mortgages and launched a new fixed rate deal.

Rates are down by 0.5% on mortgages for first landlords, let to buy borrowers and those offering free valuations and legal fees.

The new fixed rate is 4.99% at 50% loan-to-value over five years with a 3.5% arrangement fee. Continue reading Buy to let mortgage rates cut by TMW


Buy to let landlords offered choice of 463 mortgage deals Latest Articles

Businessman handshake in the cityLenders are encouraging buy to let landlords to invest in more property by increasing the number of mortgages and dropping interest rates.

Independent financial information firm Moneyfacts monitors the market and has disclosed borrowers can choose from around 463 buy to let deals – 55% up on the 299 mortgages offered 12 months ago.

Continue reading Buy to let landlords offered choice of 463 mortgage deals


House price surveys confuse the market again Latest Articles, Property Sales & Sourcing

Road sign of collapsing houseThe topsy-turvy world of UK house price surveys seems to have produced another set of nonsense results as the monthly merry go round of conflicting reports continues to confuse home owners and buyers.

In 24 hours, three surveys that track house price rise and falls have reported three entirely different sets of results on the very same subject.

Continue reading House price surveys confuse the market again


TMW hots up buy to let mortgage war with new deals Latest Articles

A range of new buy to let mortgages is available from leading lender The Mortgage Works from April 13.

The Mortgage Works (TMW) – the specialist buy to let lending arm of the Nationwide Building Society – is among the UK’s largest lenders to residential property investors. Continue reading TMW hots up buy to let mortgage war with new deals


Buy to let mortgage deals hot up for landlords Latest Articles

New lenders are eyeing buy-to-let as others are shaping up their deals to give landlords a wider choice of rates and products.

Yorkshire Building Society has indicated a move in to the market before July on the back of the merger with Chelsea Building Society, which had a large property investment lending book. Continue reading Buy to let mortgage deals hot up for landlords


British Bankers Association says bank mortgage lending has sunk to a 9 year low Latest Articles

High street banks lent less on mortgages last month than at any time since February 2001, according to the British Bankers’ Association (BBA).

In total, the high streets banks agreed loans of £7.6 billion – just over 16% down on the same month last year. Continue reading British Bankers Association says bank mortgage lending has sunk to a 9 year low


The history of No Money Down and Instant Remortgages since 1992 Favourite Articles, Latest Articles, Property Investment Strategies

Mark AlexanderIt was 1992, we were at the tail of the property crash of the late 80’s and early 90’s. I was still cutting my teeth in the market of providing commercial finance broking facilities to property investors. The phrase buy to let would not be invented for another four years and the internet was in its infancy. Property prices had fallen by 30% and interest rates had soared to 15%.

Continue reading The history of No Money Down and Instant Remortgages since 1992


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