The battle between buy-to-let mortgage lenders has intensified, with Leeds Building Society offering a mortgage rate that undercuts even the cheapest residential deals. Mortgages for landlords are typically more expensive than residential loans, as banks believe there is a greater risk when properties are rented out compared to occupied by the owner. But as Telegraph Money reported earlier this month, the slowdown in the buy-to-let market has forced lenders to take drastic action to drum up new business. Several lenders have cut rates and eased lending rules in an attempt to lure in landlords. Leeds Building Society has become the latest to cut rates by launching its 1.14pc two-year variable-rate mortgage for landlords. This loan is subject to a £2,499 fee and borrowers must have a 40pc deposit. This low rate means it undercuts every residential mortgage currently available. The lowest homeowner rate comes from Yorkshire Building Society at 1.17pc, subject to a £1,495 … [Read more...] about Cheapest buy-to-let mortgage undercuts lowest residential rate ‘for the first time’
Bank rates refinance
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Martin Crutsinger Associated Press August 01, 2018 WASHINGTON — The Federal Reserve on Wednesday left its benchmark interest rate unchanged while signaling further gradual rate hikes in the months ahead as long as the economy stays healthy.The Fed’s widely expected decision kept the central bank’s key short-term rate at 1.75 percent to 2 percent — the level hit in June when the Fed boosted the rate for a second time this year.The Fed projected in June four rate hikes this year, up from three in 2017. Private economists expect the next hike to occur at the September meeting with a fourth rate hike expected in December. Advertisement The Fed’s statement was upbeat on the economy, pointing to a strengthening labor market, economic activity growing at ‘‘a strong rate,’’ and inflation that’s reached the … [Read more...] about Fed keeps rates level; Sept. hikes are seen
For millions of Americans hoping to buy or refinance a home, it’s a crucial make-or-break question: Will the lender say yes to our mortgage application, turn it down or charge us a higher interest rate than we need? Surprisingly, large numbers of loan applications don’t make it. About 1 of every 9 loan applications (10.8 percent) to purchase a home — and more than 1 in 4 applications (26.4 percent) for a refinancing — were denied in 2017, according to a new analysis of lender data nationwide conducted by the federal Bureau of Consumer Financial Protection. But these numbers look dramatically different when you dig down and check out the race and ethnicity of borrowers: ●Black applicants were rejected at more than double the rate of non-Hispanic white applicants on all types of loans, including conventional mortgages originated for bank portfolios or for investors Fannie Mae and Freddie Mac, and government loans (Federal Housing Administration, … [Read more...] about Large numbers of loan applications get denied. But for blacks, Hispanics and Asians, the rejection rate is even higher.
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByJack Ewing May 20, 2018 FRANKFURT — Ever since he was a 38-year-old Goldman Sachs executive helping to auction off bankrupt East German factories, Paul Achleitner has been known as a relentless modernizer shaking up Germany’s sleepy corporate world. Now Mr. Achleitner is being cast in a new role: the man responsible for the sorry state of one of Germany’s most important industries. Mr. Achleitner has been the chairman of Deutsche Bank’s supervisory board since 2012, overseeing the company’s top management and signing off on major business decisions. As the bank stumbles from one crisis to the next, investors blame him for the missteps that have brought the company to one of the most perilous moments in its nearly 150-year history. It is the latest blow to the reputation of a man who had … [Read more...] about Deutsche Bank’s Problems Threaten a Star Banker
Police in Vietnam arrested two oil officials on Thursday for allegedly accepting illegal deposit interest payments from the scandal-hit OceanBank. Nguyen Hoai Giang, 50, chairman of Binh Son Refining and Petrochemical Co. (BSR), and the company's chief accountant Pham Xuan Quang, 38, are facing charges of abuse of power to appropriate property, according to the Ministry of Public Security. Nguyen Hoai Giang (L) and Pham Xuan Quang (R) were arrested by police on Thursday for accepting illegal deposit interest payments from OceanBank. Photo by VnExpress BSR is a subsidiary of the state-owned oil giant PetroVietnam and the operator of Vietnam's first oil refinery Dung Quat. Their arrests are part of the second phase of the investigation into banking violations at OceanBank. Last month, the investigation also netted BSR's deputy general director, Vu Manh Tung, 44. In addition to the refining subsidiary, Vietsovpetro (VSP), a joint venture between PetroVietnam and Russia's … [Read more...] about Vietnam arrests oil refinery officials as investigation into banking graft case widens