First-Time Buyer Schemes Need Careful Modelling
The proposed Your First Home scheme could significantly widen the new-build options available to single first-time buyers in England, according to Rightmove analysis. Meanwhile, Cambridge Building Society has launched a 98% LTV First Step mortgage for first-time buyers. These developments may help clients with smaller deposits, at a time when many renters still expect homeownership […]
Affordability Improves, Monthly Payments Bite
Lloyds analysis indicates that the UK house-price-to-earnings ratio has fallen to 7.3 times average annual earnings, from 7.6, reaching its lowest level in 11 years as wage growth has outpaced house-price inflation. Yet this relative improvement sits alongside higher mortgage pricing, weaker approvals and reports that property sales have slowed as borrowing costs rise. Advisers […]
AI, Open Finance and Mortgage Fraud
Artificial intelligence, open finance, smart data and fraud are set to dominate the mortgage technology agenda, reflecting a market in which quicker data flows can improve advice but can also create new financial-crime and operational risks. The FCA’s latest findings on money mules reinforce the need for firms to identify suspicious activity early, before funds […]
Mortgage Pricing Volatility Demands Faster Advice
Mortgage pricing remains unsettled. NatWest, TSB, Santander, Clydesdale, Barclays, Nationwide and Virgin Money have all featured in recent repricing activity, with some lenders raising rates while others selectively cut products. Moneyfacts reported average two- and five-year fixed rates close to 6%, while higher gilt yields and swap-rate uncertainty continue to influence funding costs. For advisers, […]