The old Help to Buy equity loan scheme expired last month, replaced by a similar government scheme that launched at the start of April. This new and enhanced version of H2B is restricted to first-time buyers and includes regional property price caps to ensure ‘it helps those who need it most’.
Borrower demand has been reshaped by the ongoing pandemic according to a new survey from Masthaven, suggesting that less stringent lending criteria and life under lockdown has seen a rise in the popularity of more spacious homes.
Negativity abounds in certain areas of the lettings market as the tenant fee ban comes into force in a few days time, but lenders in the Buy to Let mortgage arena either haven’t heard about the ban or they don’t think it will affect their customers.
The bank, which has been opening new branches as established rivals cut back, revealed that hundreds of millions of pounds of commercial property loans and loans to commercial buy-to-let operators had been wrongly classified in risk terms, and should have been among its “risk-weighted assets” (RWAs).
Leveraged loans are ringing alarm bells for regulators who fear a repeat of 2008’s mortgage disaster
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