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The return of the 95% mortgage – what's available and how much they cost


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As part of his pledge to turn “generation rent into generation buy”, chancellor Rishi Sunak announced a 95% mortgage guarantee in the March budget, due to launch in April. The scheme, designed to encourage lenders to start offering 95% mortgages again after almost every single one was withdrawn due to the pandemic, will see the government partially compensate lenders if homeowners fail to pay their mortgage.
According to Which?, the number of 95% mortgages available to buyers fell from 391 at the start of 2020 to just three by the end as lenders sought to protect themselves as the pandemic saw many people’s incomes fall. ....

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Coronavirus: Hong Kong finance chief says vaccination push city's top priority; more than 10 new cases expected

Coronavirus: Hong Kong finance chief says vaccination push city's top priority; more than 10 new cases expected
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The Best Residential Mortgage Rates 05.02.21


 
Both Lloyds Bank and Santander had the lowest rate in the two year fixed remortgage charts this week. Lloyds Bank offers 1.09% (3.2% APRC) fixed until 31 May 2023, which then reverts to 3.59%. This deal is available to those looking for a 60% loan-to-value and a minimum loan of £250,000. It charges £1,499 in product fees and comes with the incentives of free valuations, no legal fees and £200 cashback. Santander offers 1.09% (3.0% APRC) fixed until 2 May 2023 and then reverts to 3.35%. This deal is available at a 60% LTV and a minimum loan of £350,000 must be borrowed. It charges £1,499 in product fees and comes with the incentive of free valuations to a maximum of £1,190 for those in England, Wales and Northern Ireland, or £95 towards valuation fees for those in Scotland, as well as £250 cashback on completion or free legal fees. ....

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