Praefectus Property Finance

Hello All,

An interesting piece from Julius Baer.

your.juliusbaer.com

Nationwide Building Society has reduced the interest rate on its green additional borrowing products to 0%.

The new 0% green additional borrowing products, which will be available from Thursday 1st June, will enable up to 5,000 households with a Nationwide mortgage to borrow £5,000-£15,000 up to a maximum of 90% LTV across the two or five-year product term.

Nationwide hopes that by removing interest on its green additional borrowing products, it can incentivise members to make green home improvements. For example, if a member borrowed the maximum £15,000 over a five-year term, the monthly payment on the existing green additional borrowing product at a rate of 3.89% would be £275.50. For those taking out the new version, the payment would reduce by £25.50 per month to £250, meaning the member would save £1,530 over the full term of the deal.

The new green additional borrowing home loan will be made available via brokers.

All of the loan must be used to fund non-structural, energy-efficient home improvements, such as solar panels, air source heat pump, window upgrades, boiler upgrades, cavity wall insulation, loft insulation or an electric car charging point. Members can use any local or national contractor or supplier for the work.

Well done Gents !!! On Apple Friday Feeling playlist.

When you need a solicitor:

Find a property solicitor.
Not a solicitor that does a bit of property

When you need an accountant:

Find a property accountant.
Not an accountant that does a bit of property.

It makes transactions so much easier and understandable.

I have these people in my world.

Have a good day peeps.

Kind regards

Paul

The Bank of England (BoE) could hike interest rates to 3% or 4% by the end of this year, some have predicted.

Speaking on BBC Radio 4, former MPC member Andrew Sentance says the "BoE is falling behind and it might need to hike rates between 3% and 4% by the end of the year".

Mortgage Interest rate. Have you assessed yours.

This is for information purposes only and does not constitute advice.
YOUR PROPERTY IS AT RISK IF YOU ARE UNABLE TO MAINTAIN PAYMENTS ON ANY MORTGAGE OR LOAN SECURED AGAINST IT.