TSB lowers resi, BTL, PT and additional borrowing rates

High street lender TSB will reduce selected residential, buy-to-let (BTL), product transfer (PT) and additional borrowing ranges by up to 0.2%. The mortgage rate changes will come into effect on 28 October. Within its residential purchase range, its three-year fixed rates up to 85% loan to value (LTV) with a £995 fee will go down by 0.05%, while deals…

Development Bank Residential Property Fund a ‘Major Step Forward’ for Developers

The Development Bank of Wales has expanded its support to the property sector with the launch of the Wales Residential Property Fund, offering loans of up to £10 million and covering up to 100% of build costs. The fund is designed to support residential and mixed-use schemes, help unlock stalled projects and encourage innovation in housing delivery. In 2024/25, the…

A Brief History of Bad Housing-Finance Policy

Patrick Brenner cogently argues “The Case Against 30-Year Mortgages” (op-ed, Oct. 9), but a fuller history is in order. The Federal Housing Administration began offering such mortgages for new construction in 1948 and for existing homes in 1954, not the 1930s. Its mission: “The possession of a home, free and clear of all debt at the earliest possible date, should…

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Higher mortgage rates push applications lower after holiday week

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