Over the last week, several lenders have responded favourably to reducing swap rates and have reduced their fixed rate mortgage products for both 2 & 5 years. The reductions, although small, are a step in the right direction and welcome news for vendors and customers alike. As you can see from the rates provided Virgin Money have become very competitive with their Broker Exclusive products across all Loan to Values. Virgin will lend up to 90% on a New Build House and 80% on a New Build Apartment, they will accept up to 5% in incentives (LTV<90%) and are good with contractor income.
Spotlight On: Mortgage Affordability
When referring to ‘mortgage affordability’, many people immediately think of monthly mortgage payments. However, in the mortgage world, this term can also refer to the