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Latest news from the mortgage market

17.05.2016
Latest news from the mortgage market

Halifax to lend up to age 80

Mortgage lender Halifax is increasing its maximum age limit for mortgages from 75 to 80 years of age.

This comes after a Halifax survey revealed that one in three 20 to 45 year olds expect to work beyond their retirement age.

Read more here.

Barclays launches 100% first time buyer mortgage

Barclays is revamping its Family Springboard mortgage and now offering 100% mortgages for first-time buyers.

Previously this deal allowed for a 5% deposit, if 10% of the house purchase price was put into a savings account linked to the mortgage by a ‘helper’ (such as parents).

The revamped deal now only requires the helper’s 10% contribution. It will be returned to them after three years with added interest – providing the mortgage repayments have been kept up to date. The cash in this savings account will receive an interest rate of 2%.

Read more here.

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