All Posts in "Coronavirus News" Category

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FCA enhances support for mortgage borrowers

The FCA has set out new proposals to enhance support for mortgage borrowers affected by Covid-19. The regulator sets out new proposals due to increasing restrictions announced in recent weeks. The FCA is planning to extend the availability of payment deferrals to support borrowers experiencing payment difficulties. This will mean that those who: have not…

Generation Buy: Boris announces 5% mortgage deposits plan

Boris Johnson has announced a 5% mortgage deposits plan for first-time buyers to transform “generation rent” into “generation buy”. Speaking at the Conservative Party Conference, he promised that the plan would create 2 million more owner-occupiers in the UK. The pledge was one of a series of ambitious promises in the prime minister’s speech to…

UK Mortgage Approvals: Number rose to highest figure

UK mortgage approvals have risen to new highs according to data released from the Bank of England on Tuesday,1st September. The number of mortgage purchase approvals “continued increasing sharply in August”, rising to the highest figure seen since October 2007, according to the latest figures from Bank of England. UK mortgage approvals for purchases rose…

Mortgage prisoners and financial challenges

The Coronavirus pandemic has had an unprecedented impact on the British economy. Many mortgage prisoners are finding themselves facing huge financial challenges in these difficult times. The Covid 19 crisis has also essentially created more mortgage prisoners. Clients whose borrowing is at a high LTV, particularly 90%+, have been unable to remortgage due to products…

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