Cookies on the PFS website

By using and browsing the PFS website, you consent to cookies being used in accordance with our policy. If you do not consent, you are always free to disable cookies if your browser permits, although doing so may interfere with your use of some of our sites or services. Find out more »

Personal Finance Society
Recently added to my basket
Sorry but there was an error adding this to your basket. Please try adding it again

Mortgage market review - April 2016

Mortgage market update for April 2016

Macro news and drivers 

House price growth in england surges ahead
The latest government figures show that while house price growth continues to soar in England, the rate in the rest of the UK has slowed dramatically.           

Borrowing up by a third as buyers rush to beat stamp duty deadline
Mortgage borrowing has shot up by 33% in the year to February as investors look to buy a property before the buy-to-let stamp duty changes come into effect in April, new industry figures show.   

Landlords believe the future of buy-to-let is strong
Over half the UK's buy-to-let landlords (52%) expect the stamp duty and buy-to-let mortgage tax relief change to have no real impact on them, new research shows.

House prices in the south now double those in the North
The average house price in the UK is more than £200,000 for the first time, but properties in the North are now less than half those in the South, new figures show.

Regulation and legislation

Buyers still at risk of being caught out by stamp duty changes
Ahead of the new stamp duty 3% surcharge coming into effect on Friday 1 April, Sean Randall, head of stamp taxes at KPMG UK, has some last minute warnings for buyers who might be caught out.           

Bank of England cracks down on buy-to-let market
The Bank of England has unveiled new plans to clamp down on buy-to-let mortgage lending over concerns that the market could overheat. It proposes that when assessing whether borrows can afford to pay, lenders should take account of likely future interest rate increases over a minimum period of five years.          

PRA boss warns housing crash would hit retirement savings
PRA chief executive and incoming FCA boss Andrew Bailey has warned savers investing in property to fund their retirement could be at risk if house prices slump. (Free log-in required)

Product developments and innovation

Lloyds Banking Group launches mortgage video advice service
The service from the banks enables customers to speak with a mortgage advisor 'face to face' from the comfort of their own home via video link on a laptop, desktop, or tablet computer.           

TSB remortgage deals for small deposit homeowners
TSB has launched a new range of remortgage products available to homeowners with small deposits, while cutting rates across homemover mortgages.           

Virgin Money updates residential and buy-to-let ranges
Virgin Money has reduced rates on selected products across its core residential and buy-to-let mortgage ranges.           

Paragon steps up buy-to-let offers with new product range
Buy-to-let specialist lender Paragon Mortgages has launched its first ever range of 'stepped' loans alongside its revamped product range for individual landlords and limited companies.          

Investec merges mortgage proposition for HNWs
Investec Private Banking is consolidating its Professional and £Million Plus+ mortgages into the new Investec Private Banking Mortgage, launched with a range of three and five-year fixed rates.           

Consumer trends

Homeowners hit by higher mortgage payments when introductory period ends
A third of homeowners have been hit with higher mortgage repayments when they moved onto their lender's standard variable rate, new figures show.           

Fears future generations will never have a permanent home
As house prices continue to soar, a new study has revealed that three-quarters of people in Britain fear it will be impossible for future generations to have a home of their own.     

Experts corner

Bring advice into the 21st century
Consumers have come to expect quick and efficient service so brokers who ignore technology don't stand a chance.

Related articles

Not already a member?

Members get access to a range of benefits, including quality CPD and discounts on CII exams.


Please sign in to comment on this article