Reports at the weekend warned that banks and building societies are making it harder for customers to arrange interest-only mortgages – with high street bank Santander insisting on at least a 50 per cent deposit before such a mortgage can be agreed.
The Skipton Building Society announced today that it has cut the costs for customers seeking to take advantage of its buy-to-let mortgages.
Banking giant Barclays increased the volume of mortgages that it approved last year by 6 per cent, according to figures released this week.
Spanish banking giant Santander became the first major high street bank operating in the UK to demand a 50 per cent deposit from homeowners looking for an interest-only mortgage
The Bank of England (BoE) revealed this week that there was a sharp increase in the number of mortgage approvals last December, bringing levels to a two-year high.
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