Buying a house is hard enough at the best of times, let alone during a pandemic.
In this interview, we shed some light on the current home buying process, as well as provide you with an in-depth look and update on the current UK housing market.
Phil Spencer is joined by Paul Archer, Senior Manager for Mortgage Pricing at Nationwide. The two discuss a range of topics, including high LTV mortgages and how lending has changed.
👉 VIDEO TIMESTAMPS ⏳
0:00 Video Introduction
4:50 How lenders innovated to support the market
5:29 How has the assessment criteria changed and why?
7:25 Nationwide’s position on affordability review
8:45 How terms of lending have changed
10:52 Tightening of criteria forced people to look at what’s in their best interest
12:35 Discussion on the 95% LTV mortgage
15:30 Benefits of low-interest rates – competition is fierce
17:07 The lending conundrum
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