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Hopefully last year’s gross lending levels will be maintained in 2011 while rising swaps are pushing up fixed rates including NatWest’s and Scottish Widows has increased the LTV for professional mortgages


HERO OF THE WEEK is Kensington, which has launched an 85% LTV buy-to-let product as well as reducing the rental calculation from 125% to 120%. It is great news to see criteria and product innovation from a specialist lender.

VILLAINS OF THE WEEK are those politicians now calling for banks to lend more to first-time buyers as they are the same ones who were accusing the banks of being irresponsible when they were lending at high LTVs during the crisis.


Halifax pulls in opposite direction by reducing fixed rates

Halifax Intermediaries bucked the trend last week and cut the rates on its two-year fixes by up to 0.70%. Its two-year home buyer fixed rate mortgage available up to 60% LTV has been reduced by 0.70% to 3.19% and its two-year homebuyer fixed rate up to 75% LTV has been trimmed by 0.50% to 3.59%. […]

Caption comp 7 feb 2011


“Sick of all the scandal at Sky TV, Rupert Murdoch was taking no chances with Andy Gray’s replacement.” MARTIN SEEWOONARAIN


UK unemployment rises again

The total number of unemployed people increased by 44,000 in the last three months of 2010 to reach 2.49 million, a jobless rate of 7.9%, figures from the Office of National Statistics show.


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