Category: Mortgages
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Slash Years Off Your Mortgage and Save Thousands with This Simple Trick
Worried about rising interest rates eating away at your hard-earned cash? Inews reports the story of savvy homeowner, Cedric Felder, who is fighting back and on track to save £42,000 in interest payments while shaving five years off his mortgage term. His secret? Overpaying! Cedric, a 38-year-old father of two from Hemel Hempstead, bought his…
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Melton Building Society Offers Hope to First-Time Buyers with New Low-Deposit Mortgages
Melton Building Society has announced two new mortgages specifically designed to help people buy their first homes. The mortgages, which allow buyers to borrow up to 80% of the property’s value, offer competitive interest rates and come with no application fees and a free basic valuation. This could be a lifeline for aspiring homeowners struggling…
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Mortgage Rates Keep Climbing – Is Now the Time to Fix?
House-hunters and homeowners looking to remortgage face higher costs this week as fixed rate mortgages continue to edge upwards. According to financial experts Moneyfacts, the average two-year fixed rate mortgage has gone up by 0.02%, three-year fixes increased by 0.04%, and five-year fixes rose by 0.01% in the last week alone. These increases are driven…
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TSB Hikes Mortgage Rates – What it Means for Your Wallet
Homeowners and landlords are feeling the pinch as TSB increases mortgage rates across the board! Bad news for anyone looking to borrow money or with an existing TSB mortgage – interest rates are going up. The bank has increased rates on a range of its mortgages, meaning higher monthly payments for many. Here’s the breakdown…
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Coventry Building Society Cuts Mortgage Rates (Again!)
Good news for homebuyers and those looking to remortgage – Coventry Building Society has announced another round of cuts to their fixed-rate mortgages. Just weeks after their last price cut, Coventry Building Society is reducing rates on a range of two, three and five-year fixed-rate mortgages by up to 0.30%. This applies to both new…
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Mortgage Nightmares – How to Beat the Rate Rise and Save Thousands
Homeowners are facing a mortgage nightmare with soaring interest rates set to add hundreds of pounds to monthly bills. Around 1.6 million fixed-rate deals are due to end this year, meaning many borrowers will be forced to remortgage onto much pricier deals. If your fixed rate is ending soon, you could be in for a…
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Two-Year Fix vs. Five-Year Fix – The Mortgage Showdown!
Homeowners and buyers are facing a tough decision: should they lock in a mortgage rate for two years or five? Last year, most people went for two-year fixes, betting on rates dropping quickly. But now, with rates expected to stay higher for longer, five-year fixes are looking more tempting. What’s Going On With Mortgage Rates?…
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Clydesdale Bank Hikes Mortgage Rates for First-Time Buyers
Good news for some homeowners, but bad news for those with small deposits, as Clydesdale Bank tweaks mortgage rates. Clydesdale Bank, part of the Virgin Money group, has announced changes to its mortgage rates, with some borrowers facing higher costs while others could secure a cheaper deal. From tomorrow, June 14th, buyers with smaller deposits…
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Interest-Only Mortgages – Lower Monthly Payments but Could You Be Left Short?
Thinking about an interest-only mortgage to get your foot on the property ladder or remortgage? They can seem cheaper initially but come with big risks! What is an interest-only mortgage? Unlike a traditional repayment mortgage, where you gradually chip away at the amount you borrowed, an interest-only mortgage ONLY covers the interest charged on the…
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Mortgage Rates Rise Again – What are the Best Offers This Week?
Homebuyers are finding it harder than ever to secure a good mortgage deal. Rates have climbed again this week, making it even more difficult for buyers to get on the property ladder. The average two-year fixed rate mortgage now stands at 5.99%, up from 4.89% last week. Five-year fixed deals are also up, sitting at…