Welcome to our September Edition
Welcome to this edition of the Town & Country New Build Newsletter. This monthly update will have some highlights of the latest products available, details of current schemes, as well as the latest industry news.
Vida Homeloans has launched a range of Help to Buy specialist mortgage products for purchase and remortgaging, including an option specifically designed for help-to-buy staircasing.
Their specialist lending criteria applies, including a minimum income of £15,000, up to four incomes accepted, impaired credit history, complex incomes and competitive new build criteria, including fasttracked initial offer lasting six months which is extendable by another six, and a dedicated new build processing team.
Help to buy purchase key features:
Help to Buy remortgage key features:
Virgin’s shared ownership products are now available up to 95% of the share purchased on houses and flats, including new build.
This means a minimum of just 5% deposit is required from the customers own funds, ultimately helping more first-time buyers get on the property ladder.
They’ve also extended the availability of their shared ownership range to wales.
Skipton now accept gifted deposits from a wider range of family/relatives under the Family Law act definition, 1996.
This includes: father, mother, stepfather, stepmother, son, daughter, stepson, stepdaughter, grandmother, grandfather, grandson, granddaughter, brother, sister, uncle, aunt, niece, nephew or first cousin of the person or of the person’s spouse, former spouse, civil partner or former civil partner.
They’ve also made some changes to their process, meaning that if they’re made aware of a gifted deposit that they weren’t already aware of after the offer has been issued; their completions team can now issue a Letter of Variance rather than asking the underwriter to produce a new offer.
The number of homes bought through the Help to Buy Equity Loan scheme in England rose by 9 per cent to 52,404 in the year to April, the latest government figures show. 83 per cent of these
purchases were made by first-time buyers.
The total number of first-time buyers using the scheme was 11 per cent higher than the previous year at 43,248.
The amount borrowed through the scheme has risen by nearly 13 per cent from £660m in Q1 2018 to £743m in the first quarter of this year..
|Halifax||From 1.72% // 2 & 5 year fixed // Fee free options // Max loan £500,000|
|Aldermore||From 3.78% // 2, 3 & 5 year fixed // £999 product fee|
|Nationwide||From 1.64% // 2 & 5 year fixed and trackers // Fee free option|
|Natwest||From 1.59% // 2 & 5 year fixed // Fee free options|
|Santander||From 1.44% // 2 & 5 year fixed // £250 cashback|
|Virgin Money||From 1.75% // 2, 3 & 5 year fixed // Cashback options|
|Barclays||From 1.55% // 2 & 5 year fixed //Fee free options|