Over 70% miss out on £3.4bn remortgage savings pot

According to a new report from MoneySuperMarket, less than 30% of Brits have looked into remortgaging – despite an average saving of £439 a year. available. Following the FCA’s recent report calling for ‘mortgage prisoners’ to be set free, the new data reveals that over 70% of homeowners have not considered remortgaging their property – despite significant savings available for over a quarter of Brits. With the average amount saved by remortgaging sitting at £439, this equates to £3.4bn nationwide. The research found…

Taylor Wimpey announce new business strategy

Taylor Wimpey has unveiled a new strategy for the business which it says responds to customer needs, focusing on improved products and places, a simplification of the buying process and affordable access to the homes they build. At the same time the strategy will see growth through greater landbank efficiency as the firm “works its assets harder”. The firm is also setting new financial and operational goals for the next five years, including maintaining operating profit margins at around 21% to 22% and…

Landbay announce new partnership with Legal & General Mortgage Club

Specialist buy-to-let mortgage lender, Landbay, has announced a new partnership with Legal and General Mortgage Club, aiming to provide mortgage brokers and their landlord clients access to its specialist lending products. Landbay will join Legal and General Mortgage Club’s lender panel and offer their members products for portfolio landlords, HMOs, MUFBs, first time landlords, limited companies and new build properties at competitive interest rates. The partnership will also give Legal and General Mortgage Club members access to Landbay’s online intermediary portal, which includes features…

Remortgaging levels dip in March

The latest data and analysis from UK Finance has shown that remortgaging levels softened slightly after a busy start to the year. However, the data also revealed that first-time-buyers continued to play their part in the housing market as a small increase in lending to this group occured when compared to a year earlier. Figures released by Bank of England show that gross mortgage lending in the first quarter of 2018 was £61.1bn, up 3.4% from £59bn in Q1 2017. UK Finance…

Majority of millennials considering a joint mortgage

The latest research from M&S Bank has found that due to the difficulties involved with getting on the property ladder, buying with multiple friends or siblings is becoming an increasingly popular option for young, aspiring homeowners. According to the research, 60% of those aged 18-35 said they would consider taking out a mortgage as a group to make home ownership a reality (compared to 26%of people aged over 36). The M&S Bank study, which surveyed 5,000 people across the UK, found that a…