Rents around London’s nicest parks
The latest research from London rental website Rentonomy suggests that Springfield Park (E5) is the best and most affordable local park in London. Director of Research David Butler said: “Of all the best local parks, Clapton’s Springfield Park is in the most affordable area of London. Rents in Clapton are 20 per cent below the London average, so if you’re desperate for a slice of park life on a limited budget, living near Springfield Park might be for you. In fact all these ‘budget parks’ are within areas where rents are on average 44 per cent less than around London’s most famous park, Hyde Park.”
The research used a list of the capital’s best local parks based on a list compiled by TimeOut and included:
• Battersea Park (Battersea, SW11)
• Brockwell Park (Herne Hill, SE24)
• Clissold Park (Stoke Newington, N16)
• Finsbury Park (Finsbury Park, N4)
• Gladstone Park (Cricklewood, NW2)
• Ravenscourt Park (Hammersmith, W6)
• Springfield Park (Clapton, E5)
• Victoria Park (Hackney, E9)
Repossessions 17% lower in first three months of 2013 than in 2012
The rate of repossession from January to March this year stayed at 0.07% for the fourth consecutive three month period, according to the Council of Mortgage Lenders. This is the equivalent of fewer than 1 in 1,400 mortgaged properties being taken into possession by lenders. The CML’s last forecast for 2013 estimated that there would be a total of 35,000 repossessions in 2013, with 160,000 mortgages in arrears of 2.5% or more at the end of the year and believes these figures are still accurate. CML director general Paul Smee said: “Mortgage arrears and repossessions have stabilised at levels lower than many anticipated when the economic downturn started. Low interest rates, continuing employment, lender forbearance and tactical public policy support have combined to ensure that repossession really is a last resort. Anyone who is worried about their mortgage can be assured that, as long as they take steps early to address them, most problems can be contained. Lenders very much want to enable people to stay in their homes wherever they have sustainable prospects of getting their mortgage back on track.”
New zero fee mortgage range from Santander
Santander Mortgages today launches a new range of 2, 3 and 5 year fixed and tracker products with no up-front booking or arrangement fees, but keeping the free valuation and £250 cashback offers. The range includes products at 85-90% LTV.
first direct cuts rates across mortgage range
first direct has reduced rates on over 85% of its mortgage range. Borrowers with a 10-35% deposit or equity will be able to take advantage of the new rates which include both repayment and offset products. It has also introduced two new mortgage products: a 2.49% 5 year fixed rate, £1,999 fee at 65% LTV; and a 3.99% life tracker, £999 fee at 90% LTV.
Coventry Building Society cuts rates
The cuts are across its range of residential, offset and buy to let options including:
* 2.25%, reduced from 2.35%, 2 Year Fixed Rate until 30.06.15 65% LTV £199 booking fee with £800 arrangement fee and ERCs of 3% of balance until 30.06.15
* 2.35%, reduced from 2.65%, Flexx for Term, 65% LTV £199 booking fee with £800 arrangement fee with no ERCs.
* 2.85%, reduced from 3.09% Offset, Flexx for Term, 75% LTV £199 booking fee with £300 arrangement fee with no ERCs.
* 3.29%, reduced from 3.99% BTL, Flexx for Term, 65% LTV £250 booking fee with £1749 arrangement fee with no ERCs.
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