The five new products under the FMO label have been specifically designed for the non-conforming credit market with four products ranging from ‘extra-light adverse’ to ‘heavy adverse’ and also an adverse buy-to-let product with procuration fees up to 1.3 per cent.
NI market going strong
The Northern Ireland (NI) housing market continues to go from strength to strength and is likely to fair better than the rest of the UK throughout 2005, according to the latest figures from e.surv chartered surveyors.
Steve Hinds, e.surv senior surveyor, commented: “Despite setbacks in the peace process, house prices in the city of Belfast have increased by more than 11 per cent [since last year]. While in Craigavon, Armagh and Fermanagh, South Tyrone they increased by 15 per cent and 20 per cent respectively.”
Coventry updates portfolio
Coventry Building Society has updated its mortgage portfolio. Its residential mortgages now include a 5.15 per cent fix until September 2008; a new buy-to-let product at 5.45 per cent fixed until 30 September 2008 with free valuation available up to 65 per cent LTV; and a buy-to-let fix at 5.75 per cent available up to 80 per cent LTV.
