View more on these topics

Market Harborough makes it easy for family to help FTBs

Currently most lenders require a relative acting as a guarantor for a young person&#39s mortgage to guarantee the full amount of the mortgage.

By contrast, Market Harborough will ask guarantors to cover only a portion of the mortgage.

As a practical example, Mr Smith earns £20,000 and wants to buy a house at £110,000 and has a deposit of £30,000. He needs to borrow £80,000. The society would normally lend Mr Smith £65,000 (3.25 x his income), which means he is £15,000 short of the loan amount he requires. Before the new scheme was introduced the society would ask the guarantor to guarantee the whole loan of £80,000. Now Market Harborough asks the guarantor to guarantee only the difference of £15,000.

These new arrangements apply to any of the competitive mortgage offers available from Market Harborough.

Market Harborough chief executive Philip Dearing says: “This change will help buyers realise their aspirations of owning a property and will no longer mean rented accommodation being the only option available to them &#45 we are also making it easier for relatives to lend a helping hand to younger people struggling to get into the property market.”


Ipswich launches fixed rate deals

The range comprises three-year and 10-year fixed rate mortgages, plus a fees-free three-year fixed remortgage. The 10-year fixed is offered at a rate of 5.89% until December 31, 2014. The three-year fixed is at 5.9% until December 31, 2007. And the fee-free three-year remortgage is at 6.10% until December 31, 2007. Paul Winter, sales and […]

10 million below poverty line paying more for services

Exactly a year since the NCC lifted the lid on a hidden Britain where millions struggle to afford essential household utilities, the independent consumer policy expert is launching an initiative to tackle the injustice that leaves the worst off getting the worst deal. The NCC&#39s dossier of the double disadvantage inflicted by poverty will be […]

Government seeks views on warrant enforcement success rate

A consultation paper, Civil warrant performance indicator – information for customers, asks for comments on the proposals and for information that would be useful to customers of the county courts that enforce judgments. The paper suggests a method for evaluating how effectively warrants are executed by the county courts. Warrants are documents issued by courts […]

Santander woos IFAs in race to buy Abbey

The wooing of IFAs came as a result of rumours that Santander would increase the number of mortgages sold through branches to 50%, at the expense of intermediaries. Santander has countered that it has no intention of reducing Abbey&#39s dependence on IFAs and that Abbey would remain a UK-based bank. All things going to plan, […]

Burnett: what needs to happen for value to start performing again?

Value stocks have significantly underperformed growth stocks in Europe in the past decade. However, Rob Burnett, manager of the Neptune European Opportunities Fund, believes we are now approaching an inflection point. Watch the video below to find out more. In the video, Rob discusses: How low inflation and loose monetary policy since the global financial […]


News and expert analysis straight to your inbox

Sign up