What's new in the mortgage market for 2013
A roundup of the latest new products and rates launched since the start of the year
Alex Johnson has been part of The Independent's online team since 2007. He has been writing about microarchitecture on his internationally-acclaimed Shedworking blog since 2006 and is the author of Shedworking: The Alternative Workplace Revolution. His latest book is Bookshelf, published by Thames & Hudson.
Thursday 10 January 2013
Yorkshire Building Society
The Yorkshire is reducing interest rates by up to
0.35per cent on a wide range of its products, including fixed rate,
tracker and offset mortgages at 75 per cent, 85 per cent and 90 per
cent LTV (loan to value).
Best buy fixed rate mortgages at 75 per cent LTV include a two
year fixed rate at 2.49 per cent, a three year at 2.69 per cent and
a five year at 2.99 per cent.
Borrowers with a smaller deposit can benefit from a best buy two
year fixed rate mortgage at 3.79 per cent up to 90 per cent LTV.
All these products have a £995 fee but the Yorkshire also offers
lower fee alternatives with incentives such as cashback or free
valuations and legal service for borrowers trying to reduce their
From 14 January Barclays will introduce a mortgage to help boost the first time buyer market, giving new buyers access to affordable mortgages with a five per cent deposit. It provides first time buyers with a three year fixed rate available with a five per cent deposit at 4.69 per cent, while their family opens a savings account linked to the mortgage into which they put 10 per cent of the purchase price. When the three year fixed rate ends the savings are returned to the family.
There will also be a three year fixed rate deal for those with a 30 per cent deposit, which sees the largest cut of 1 per cent to 2.89 per cent. The two and five year fixed rates Barclays will be offering are priced at 2.39 per cent and 3.39 per cent, for those with a 40 and 30 per cent deposit respectively.
Leeds Building Society
Leeds Building Society has changed its current 2 Year fixed rate mortgage deals into a range of New Year sale products. The completion fee of £800 has been removed and a free standard valuation up to £335 added. In addition, the Society is offering free legal services for standard re-mortgages.
The Society's 2 Year Fixed Rate products are available at current rates of 2.54 per cent up to 75 per cent loan to value (LTV), at 2.94 per cent up to 80 per cent LTV and at 3.54 per cent up to 85 per cent LTV. All tiers of the product allow 10 per cent capital repayments each year without penalty, have no higher lending charge and a booking fee of £199.
Cambridge Building Society
Key changes include:
* Reduced rates across the range
* A range of ‘fee free' re-mortgage deals - no application fee and no standard legal/valuation fees
* Product completion fees can now be added to the loan above the LTV tier
Among nine new products there are two fixed rate two year products and three two year trackers available for purchase and remortgage cases. The new range also includes four remortgage only products - two trackers and two fixed rates - which are available with a £300 contribution to legal fees. All new products come with a free valuation.
Coventry Building Society
Coventry Building Society has a range of 2 and 5 year fixed rates, available from 65 per cent LTV to 85 per cent LTV. The new range allows overpayments of 10 per cent on all new products and includes a legal and valuation package for remortgages.
* A new 2 year fixed rate mortgage at 90 per cent LTV launched at 4.99 per cent with £995 fee for first time buyers
* Reductions of 0.15 per cent on 2 year tracker mortgages for homemovers and remortgage customers, with rates now starting at 2.64 per cent
* New 5 year fixed rates with £995 fees available up to 90 per cent LTV for homemovers and 85 per cent LTV remortgage customers with rates starting at 3.34 per cent and 3.39 per cent with a £995 fee
* A new 90 per cent LTV option for homemovers and first time buyers in the form of a 5 year fixed rate year product at 5.69 per cent ( with £995 fee for homemovers and no fee for first time buyers)
In addition, Halifax is offering first time buyers £1,000 cashback and no product fees on selected 2, 5 and 7 year 75 per cent to 90 per cent LTV fixed rate products.
Norwich & Peterborough Building Society
New fixed rate mortgage deals from N&P include a five year fix at 3.19 per cent at 75 per cent LTV. For borrowers wanting to fix for a shorter term, N&P has a three year fixed rate mortgage at 2.84%, also at 75% LTV.
This six-bedroom home is set amongst three acres of grounds. Currently a large family home, Clift Hill has potential to make a B&B, subject to change of use permissions.
A former period coach house, Glebe Farm Stable is now a three-bedroom cottage with a double car barn, office, kennels and an outbuilding that's currently used as a gym.
Set sail for this four-bedroom farmhouse in Cowes. With five acres of land and an indoor pool, this home oozes character. There is even potential to let a one-bedroom annexe.
Surrounded by woodland, this five-bedroom manor house has plenty of outdoor storage space in the form of three converted loose boxes, two smaller outhouses and a woodstore.
This four-bedroom detached home comes with a double carport, useful workshop, garden and two walkways that offer views of the adjacent countryside.
With space for an equestrian business, a greenhouse for growing your own veg, a wine store and a gym; this five-bedroom home has all the ingredients for a country retreat.
This four-bedroom home has exposed brick chimneys and a vaulted ceiling in a breakfast room that's ideal for summer entertaining - the doors open to the patio and garden.
The decked roof terrace of this two-bedroom flat is perfect for summer drinks while large windows and ample storage space make for a light and spacious interior.
Surrounded by approximately 15 acres of grounds, this six-bedroom grade II-listed home has been extensively refurbished yet retains many period features.
This four-bedroom home comes with a two-bedroom cottage and commercial office, with planning to extend, in a stunning courtyard setting.
In a pretty Norfolk village, this four-bedroom family home is surrounded by landscaped gardens, with even a self-contained annex for guests.
A few miles from the seaside at Perranporth, this four-bedroom farmhouse sits amongst nine acres of idyllic grounds - including a lake and two barns used as holiday lets.
This five-bedroom home is arranged over three floors of a converted Victorian hospital, offering spectacular views of the Pentland Hills - only three miles from the city centre.
This four-bedroom detached home comes with grounds that span to approximately 2.5 acres, as well as two large patio areas and a double garage.
This four-bedroom cottage is a Grade II-listed town house, well-located for the thriving market town of Nailsworth.
A four-bedroom apartment on the ground floor of a stunning period property in North Yorkshire, with two kitchens and a large south-west facing garden.
This high-spec two-bedroom home is part of a smart collection of new flats at Beaufort Park and has a large decked balcony that's perfect for summer drinks.
Capitalise on the fabulous views of Trevone Bay by taking two homes and creating one spacious boutique B&B. Just a cliff-top walk from Padstow.
Overlooking a golf course, this six-bedroom Edwardian detached home spans four storeys and retains many period features including the original, operational servants' bells...
On the edge of the city, this six-bedroom home comes with an outdoor swimming pool and a large garage block that has annexe potential.
In a Grade II-listed manor just outside of Bath, this three-bedroom home is arranged on two floors with a skylight in a vaulted roof line.
Open the living room's bi-fold wooden doors to reveal a retro-style kitchen, and a conservatory leading to a paved garden at this three-bedroom home.
A Grade II-listed, four-bedroom home, in a charming Somerset village, with a two-storey studio that could be converted into a holiday cottage
A modern four-bedroom Victorian home, within walking distance to the high street
A luxury apartment in the Gothic mansion of Wyfold Court in Kingwood, offers six bedrooms spread over three floors and a turret
This school conversion, near Stockwell Tube, oozes New York loft style. The one-bedroom flat features double height ceilings and exposed brick work
This six-bedroom Georgian home is on three floors with open fireplaces, a two-oven Aga, an annexe, and cottage gardens with outbuildings and a car barn
High Crest House covers an impressive 9384sq ft, with almost three acres of grounds including a tennis court and summer house enclosed by electric gates
A six-bedroom farmhouse with separate accommodation in converted stables. Situated in the village of Church Aston, within walking distance to the market town
A two-bedroom flat with under-heated walnut floors and bespoke built-in storage. The Tube and Clapham Common are a short stroll away
A refurbished seven-bedroom townhouse with staff quarters, cinema room, superb gym, steam room and plunge pool
A minimnalist four-bedroom home designed to the highest spec, featuring glass walls and a kitchen space lit by a glass roof
Hibernate during winter and make your living during the summer at this busy guesthouse with panoramic sea views, in the village of Lynton
A four-bedroom penthouse next to the Tate with direct views of St Paul's from two floors of luxurious living space
A four-bedroom detached home surrounded by spacious gardens and woodland, close to New Pudsey
An 18th-century, three-bedroom home near Langstone Harbour built from ships beams with vaulted ceilings and wood burning stoves
A five-bedroom semi-detached home with a mix of period and modern features in a popular and convenient location
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
A boutique mews house, set around a central courtyard, with three bedrooms and a private roof terrace
A four-bedroom farm-conversion with three bathrooms and two reception rooms
A two-bedroom detached house with ensuite bathrooms and a sun-drenched decked terrace, £750,000
A modern and spacious two-bedroom, penthouse flat with two bathrooms in a prestigious development
A beautifully renovated five-bedroom terrace with three reception rooms and a courtyard garden, £700,000
A four-bedroom period house which has been extended to provide almost 2,500sq ft of living space, £675,000
A pretty three-bedroom Georgian home with a 22ft drawing room and a master suite with a balcony, £525,000
A substanstial family home with five bedrooms and landscaped gardens in the much sought-after Branksome Park area
A well-presented three-bedroom house with front and rear gardens, close to White City station, £475,000
A handsome five-bedroom house in a sought-after location close to the city centre
A five-bedroom country home with valley views, equestrian stables and 27 acres of land, £725,000
A six-bedroom farm house with separate, detached cottages and 371 acres of land
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