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Nationwide
Building Society announces New Mortgage Deals and John Boyle of HomeLet insurance
says New Buy-To-let deal is good news for Landlords
Released
10th and 11th May 2010 New
Buy-To-let deal is good news for Landlords HERE Nationwide
announces New Mortgage Deals HERE New
Buy-To-let deal is good news for Landlords The
Managing Director of HomeLet
John Boyle is welcoming the announcement by one of the UK's biggest buy-to-let
lenders that it has relaxed the criteria on its new mortgage deals %20smll.JPG)
(Left: John Boyle)
The
Mortgage Works, the specialist lending division of Nationwide Building Society,
will now lend up to 80% of a property's value, compared with a previous loan-to-value
cap of 75%. Many
have blamed the restrictive lending conditions on buy-to-let mortgages for the
UK housing shortage. In April ARLA reported that almost two-thirds of its letting
agent members had seen demand outstrip supply across the country. According
to their research, conducted among UK letting agents and landlords during Q1 2010,
nearly two-thirds (59%) of ARLA members reported more tenants than properties
available. This is a 50% rise on the previous quarter. HomeLet's
MD John Boyle said: "Lenders are starting to relax their lending restrictions,
which is encouraging for landlords who have seen the number of deals available
fall dramatically since 2007, and hopefully more will follow suit. "The
buy-to-let sector has been the white knight of the housing industry, providing
a high percentage of good quality homes for people who have been unable to get
a foot on the property ladder. "To
avoid a severe housing shortage the government and banks need to give greater
support to landlords, many of whom have been prohibited from investing due too
much red tape or a lack of finance. There have been gradual improvements but more
lenders now need to follow suit." Notes
about this news release: -
HomeLet
pays out an average £3m in Rent Guarantee claims every year.
-
HomeLet
is proud to announce it is a main sponsor of the upcoming Letting Agency of the
Year Awards in association with The Sunday Times.
HomeLet
is a trading name of Barbon Insurance Group Limited which is authorised and regulated
by the Financial Services Authority. Registered in England number 3135797. Registered
office address: 4-9 Highview, High Street, Bordon, Hampshire GU35 0AX. Source
HomeLet Back
to top Nationwide
announces New Mortgage Deals Society
reduces 56 selected fixed and tracker products across mortgage range With
effect from Tuesday 11 May 2010, Nationwide will reduce selected rates on fixed
and tracker rate products across its mortgage range. The reductions range between
0.05% and 0.60%, with the average cut being 0.30%. The Society has also extended
the maximum LTV to 85% on remortgage tracker deals. The
mortgage product range available from Nationwide will include the following: For
those remortgaging Two-year
fixed rate reduced by 0.30% available from 3.58% (up to 70% LTV) - New
customers can borrow up to 85% LTV
- £99
booking fee (payable upfront and non-refundable)
- £896
product fee.
Three-year
fixed rate reduced by 0.21% available from 4.28% (up to 70% LTV) - New
customers can borrow up to 85% LTV
- £99
booking fee (payable upfront and non-refundable)
- £896
product fee.
Five-year
fixed rate reduced by 0.14% available from 5.14% (up to 70% LTV) - New
customers can borrow up to 85% LTV
- £99
booking fee (payable upfront and non-refundable)
- £896
product fee.
For
those buying a home: Three-year
tracker reduced by 0.51% available at 4.48% (75-85% LTV) - New
customers can borrow up to 85% LTV
-
Existing borrowers who are moving home can borrow up to 95% LTV
-
£99 booking fee (payable
upfront and non-refundable)
- £896
product fee.
- £500
discount on product fee for first time buyers.
Two-year
fixed rate reduced by 0.11% available from 3.38% (up to 70% LTV) - New
customers can borrow up to 85% LTV
- Existing borrowers who are moving
home can borrow up to 95% LTV
- £99 booking fee (payable upfront and non-refundable)
-
£896 product fee.
Three-year fixed rate reduced by 0.41% available
from 3.98% (up to 70% LTV)
- New
customers can borrow up to 85% LTV
-
Existing borrowers who are moving home can borrow up to 95% LTV
-
£99 booking fee (payable
upfront and non-refundable)
- £896
product fee
- £500
discount on product fee for first time buyers.
Andy
McQueen, divisional director for mortgages and general insurance at Nationwide,
said: "We have further improved our mortgage range by reducing our interest rates
on selected deals by up to 0.60%. So whether you're buying a house, remortgaging,
looking to switch deals or after additional borrowing, you may benefit from this
latest drop in interest rates. Some of our largest reductions are on our remortgage,
Switch & Fix and further borrowing deals, in particular the two-year fixed rate
products. "Furthermore,
our remortgage tracker mortgages are now available up to 85% LTV. This enables
us to continue to support those customers remortgaging with less equity." Further
information Here Source
Nationwide Back
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Looking
for Landlord or Tenant Rental Insurance? Click on logo 
See
also
HomeLet
(Group) Press Information: HomeLet
Insurance launch new forum for letting agents - June 2010 HomeLet
and Martin & Co offer new cover for Landlords - June 2010
There
are a record breaking number of renewals for Martin & Co - June 2010
Do
landlords really need specialist insurance? - June 2010 Rent
Guarantee claim a landlord's experience - June 2010 HomeLet
Insurance update - June 2010 The
Letting Agent of the Year Awards - June 2010 Grant
Shapps appointed as new Housing Minister - May 2010
Nationwide
Building Society announces New Mortgage Deals and John Boyle of HomeLet insurance
says New Buy-To-let deal is good news for Landlords - May 2010 Pinkerton
Murray Strikes Gold - May 2010
Students to get Extra Protection from Crime via HomeLet
Insurance - May 2010
Rising
Rents Pose Potential Risk for Landlords in the UK - April 2010 HomeLet
insurance run for charirty - March 2010 HomeLet
Launches £500 Prize Draw for Landlords - March 2010 Rental
Increases could see a reversal of Fortune says HomeLet Managing Director - March
2010 HomeLet
offers More Benefits for Premier Customers - March 2010 Agents
Positive about the Future of Lettings - February 2010 Cold
Snap Could Prove Costly for Landlords says HomeLet Insurance - January 2010 HomeLet
Launch New Range of Landlord's Insurance - December 2009 HomeLet
Insurance offers service guarantee to Letsense Agents - December 2009
HomeLet
to launch innovative new insurance policy product - December 2009 Demand
for HomeLet insurance doubles - October 2009 HomeLet
releases a new Tenant's contents insurance product available via jml insurance
- HomeLet rental insurance have cut the cost of tenants insurance from the 19th
June 09 with a new policy that is available via jml insurance - June 2009 Barbon
Insurance has acquired Zennor Ltd - April 2009 Tenants
should Insure against recession related crime - February 2009 New
Managing Director for Letsure- Barbon Insurance Group has announced the appointment
of Ian Fraser as Managing Director - January 2009
New
Chief Executive for Barbon Insurance - September 2008 Barbon
Insurance Reveals Latest Financial Results - September 2008 EIS
Completes Rebranding Exercise to Become Barbon Insurance Limited -August 2008 jml
Insurance are very pleased that HomeLet and Letsure are now under the Barbon Insurance
Group umbrella - August 2008 Martin
& Co announces three year deal with HomeLet - July 2008 HomeLet
staff gain promotions - June 2008 New
Customer relations manager for EIS Insurance Solutions - June 2008 EIS
sale completed - New and stable long term ownership - April 2008
EIS
separates from Erinaceous Group - New and stable ownership - April 2008 Erinaceous
placed in administration - April 2008 jml
Insurance will now be introducing Homelet Landlord & Tenant insurance instead
of Letsure - March 2008 Erinaceous
puts insurance division up for sale - January - February 2008 Brian
Turney has left Lumley Letsure - June 2007 Erinaceous
Group Plc Opens Property Management Office in Dublin, Ireland - May 2007 HomeLet
IPEX -Landlords set for buy-to-let revolution as new scheme launched - March 2007 HomeLet
Rental insurance launch Portfolio Insurance from 10th July 2006 in the UK Letsure
has a new Glasgow offices December 2005 HomeLet
launches new low cost option landlord’s protection - July 2003
Also:
HomeLet Landlord & Tenant Insurance Sponsors Negotiator Award The 2008 awards
from The Negotiator Magazine took place at the London Hilton on the 11th November Back
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