The UK government is close to selling a £5bn Bradford & Bingley mortgage book to a major bond fund manager, it has been reported. Bradford & Bingley’s loan book was nationalised in 2008 at the height of the financial crisis. UK Asset Resolution (UKAR), the government body set up to manage nationalised banking assets, could agree to sell a £5bn tranche of loans as early as Wednesday. Read more: Another £5.5bn worth of taxpayer-owned loans is closer to being sold Sky News reports that bond fund manager Pacific Investment Management Co (Pimco) is set to sign an agreement to buy the loan book this week. According to the report hedge funds Och-Ziff, Cerberus Capital Management and M&G Prudential had also been shortlisted to buy the portfolio. Read more: Government sells B&B loans to Prudential and Blackstone for £11.8bn Last year the government sold £11.8bn of Bradford & Bingley loans to insurance giant Prudential and US private equity fund … [Read more...] about Fund manager Pimco close to £5bn deal for Bradford & Bingley mortgage book
Spectator Money 24 April 2018 6:04 PM 24 April 2018 6:04 PM Share Twitter Facebook LinkedIn Email Whatsapp Buy-to-let property is still a popular investment choice for those who can afford it. Here are the best 5-year fixed rate mortgages on the market at the moment. See also Best Buysbuy-to-letMoneyBlogmortgage What to read next Best Buys: Two year fixed-rate buy-to-let mortgages Spectator Money Best Buys: Buy-to-let two year fixed rate mortgages Spectator Money Best Buys: Two year fixed-rate mortgages Spectator Money Best Buys: Two-year fixed rate mortgages Spectator Money Best Buys: Two-year fixed rate mortgages Spectator Money Best Buys: Buy-to-let 5 year fixed rate mortgages Spectator Money … [Read more...] about Best Buys: 5 year fixed-rate buy-to-let mortgages
The equity release market is flourishing but for older borrowers who wish to take out a new mortgage or remortgage, options have traditionally be limited. Recent figures from the Equity Release Council suggested that lending reached £870 million between January and March 2018, more than double the £394 million recorded during the same time period in 2016. Reader Service: If you are over 55 and considering equity release make use of the Telegraph's free equity release calculator But the mortgage market hasn't been as generous to the over-55s. There's less flexibility due to age limits and the older you are, the shorter the term will be, which could push up costs. Lenders will offer mortgages... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per … [Read more...] about What are the mortgage options for over-55s and retired people?
Saving up for your first home can take a long time. And it’s getting even harder with house prices high, less stock on the market and mortgages tougher than ever to secure. But those saving up to get on the housing ladder might want to take a leaf out of one couple’s book. At just 21, Nathan Doe and Tyla Stanworth, from Newport, purchased their £220,000 detached three bed home together last June – without dipping into the so-called ‘bank of mum and dad’, reports Wales Online. The couple are aiming to be completely mortgage-free by the time they are 40 and hope to retire by 55. Nathan said they had to plan and make a number of sacrifices to save the deposit for their new-build home on the Mon Bank estate in the Welsh city. “We were living with my dad for a year, that was our base, but obviously had to pay him rent. “We really don’t drink and don’t go out partying.” Tyla and Nathan have been working full-time since they … [Read more...] about Young couple hope to be mortgage free by 40
Fianna Fáil wants to know why AIB's split mortgages are classed as performing loans but Permanent TSB's are not. With 4,300 mortgage holders facing the prospect of their loans being sold off to so-called vulture funds, the party's spokesperson on finance is calling on the Government to find a solution. Deputy Michael McGrath said he wanted to know why Permanent TSB mortgage holders who are fully honouring the terms of the split mortgage agreement they have entered into with the bank are now looking at their loans being lined up for sale.Hewas responding to a report in today’s The Sunday Times that European banking regulators are set to reaffirm their view that Permanent TSB’s split mortgages should be classed as non-performing loans – increasing pressure on the bank to sell them on.Deputy McGrath commented: “We know that some 4,300 Permanent TSB mortgage holders are fully honouring the terms of the split mortgage agreement they have entered into with the … [Read more...] about FF’s McGrath asks why PTSB’s split-mortgage loans face sell-off, while AIB’s do not