It has been another busy week in the mortgage industry, with a number of important stories making headlines. Here are Mortgage Strategy’s top 10 stories of the week from 01 May to 05 May.
1. Mortgage approvals hit record high in April: According to the Bank of England, mortgage approvals rose to a record high of 93,000 in April, up from 86,000 in March. This is the highest level since records began in 1993 and is a sign of the continued strength of the UK housing market.
2. Nationwide launches new mortgage products: Nationwide Building Society has launched two new mortgage products designed to help first-time buyers and those looking to remortgage. The products include a two-year fixed rate mortgage at 1.99% and a five-year fixed rate mortgage at 2.59%.
3. FCA publishes new guidance on affordability: The Financial Conduct Authority (FCA) has published new guidance on affordability for mortgage lenders. The guidance sets out the requirements for lenders when assessing a borrower’s ability to repay a loan.
4. Coventry Building Society launches new range of mortgages: Coventry Building Society has launched a new range of mortgages aimed at first-time buyers and those looking to remortgage. The range includes two-year fixed rate mortgages at 1.99% and five-year fixed rate mortgages at 2.59%.
5. HSBC launches new range of mortgages: HSBC has launched a new range of mortgages designed to help first-time buyers and those looking to remortgage. The range includes two-year fixed rate mortgages at 1.99% and five-year fixed rate mortgages at 2.59%.
6. Halifax launches new mortgage products: Halifax has launched two new mortgage products designed to help first-time buyers and those looking to remortgage. The products include a two-year fixed rate mortgage at 1.99% and a five-year fixed rate mortgage at 2.59%.
7. Lloyds Bank launches new range of mortgages: Lloyds Bank has launched a new range of mortgages designed to help first-time buyers and those looking to remortgage. The range includes two-year fixed rate mortgages at 1.99% and five-year fixed rate mortgages at 2.59%.
8. RBS launches new range of mortgages: Royal Bank of Scotland has launched a new range of mortgages designed to help first-time buyers and those looking to remortgage. The range includes two-year fixed rate mortgages at 1.99% and five-year fixed rate mortgages at 2.59%.
9. Barclays launches new range of mortgages: Barclays has launched a new range of mortgages designed to help first-time buyers and those looking to remortgage. The range includes two-year fixed rate mortgages at 1.99% and five-year fixed rate mortgages at 2.59%.
10. Santander launches new range of mortgages: Santander has launched a new range of mortgages designed to help first-time buyers and those looking to remortgage. The range includes two-year fixed rate mortgages at 1.99% and five-year fixed rate mortgages at 2.59%.
It has been another busy week in the mortgage industry, with lenders launching new products and the FCA publishing new guidance on affordability. These stories demonstrate the continued strength of the UK housing market and the importance of staying up-to-date with the latest news and developments in the industry.