Mortgage Strategy’s Top 10 Stories: 29 May to 2 June 2017

Mortgage Strategy's Top 10 Stories: 29 May to 2 June 2017

Mortgage Strategy, the leading source of news and analysis for the mortgage industry, recently released its top 10 stories for the week of 29 May to 2 June 2017. The list is a comprehensive overview of the most important developments in the mortgage market, and provides a valuable insight into the current trends and issues affecting the sector.

At the top of the list was the news that the Bank of England had decided to keep interest rates on hold at 0.25%. This decision was widely expected, as inflation remains low and economic growth has been sluggish. The Bank of England also announced that it would be keeping its quantitative easing programme in place, which will help to keep borrowing costs low for consumers.

The second story on the list was the announcement that UK lenders had approved a record number of mortgages in April 2017. This was the highest number of approvals since 2008, and suggests that the UK housing market is continuing to recover from the financial crisis. This is good news for borrowers, as it means that lenders are more willing to offer competitive mortgage rates.

The third story was about the UK government’s Help to Buy scheme, which has been extended until 2021. This scheme offers financial assistance to first-time buyers who are struggling to get onto the property ladder. It is hoped that this will help to stimulate the housing market and make it easier for people to buy their first home.

The fourth story was about the increasing popularity of fixed-rate mortgages. These mortgages offer borrowers the security of knowing that their monthly payments will remain the same for a set period of time, regardless of any changes in interest rates. This makes them an attractive option for those who want to protect themselves against rising interest rates in the future.

The fifth story was about the new rules which have been introduced by the Financial Conduct Authority (FCA) to protect mortgage borrowers from irresponsible lending practices. The new rules require lenders to carry out more thorough affordability checks before approving a loan, and also limit the amount of money that can be borrowed. These measures are designed to ensure that borrowers are not taking on more debt than they can afford to repay.

The sixth story was about the launch of a new online tool which allows borrowers to compare different mortgage products and find the best deal for their needs. This tool is free to use and provides an easy way for borrowers to find the most suitable mortgage product for their circumstances.

The seventh story was about the introduction of a new tax relief scheme for landlords. This scheme will allow landlords to offset some of their mortgage interest payments against their taxable income, which could help to reduce their tax bill.

The eighth story was about how lenders are increasingly using technology to make it easier for borrowers to apply for a mortgage. Many lenders now offer online applications, which allow borrowers to apply for a loan without having to visit a branch in person. This makes it much more convenient for borrowers who are short on time or unable to travel.

The ninth story was about how lenders are now offering longer-term mortgages, with terms of up to 40 years. These mortgages can help borrowers to spread their repayments over a longer period of time, making them more affordable in the short-term. However, it is important to remember that these mortgages will cost more in total due to the additional interest payments over a longer period of time.

Finally, the tenth story was about how lenders are now offering mortgages with no early repayment charges. This means that borrowers can make overpayments or pay off their loan early without incurring any additional costs. This could be beneficial for those who are looking to pay off their loan quickly or reduce their monthly payments.

Overall, Mortgage Strategy’s top 10 stories for 29 May to 2 June 2017 provide a comprehensive overview of the key developments in the mortgage market. The list highlights some of the major changes which have taken place over the past few weeks, and provides valuable insight into how these changes could affect borrowers in the future.

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