Category: Mortgages
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This Week’s Best UK Mortgage Deals
This week, we’ve observed a slight easing in mortgage rates, which offers a little relief to homebuyers grappling with high costs. The average rate for a two-year fixed mortgage has dipped to 5.69% from 5.85%, while the five-year fixed rates have also reduced slightly to 5.24% from last week’s 5.39%, according to data from Uswitch.…
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Mortgage Rates Hit New Highs
In April, the UK witnessed the most substantial monthly jump in mortgage rates since March 2024. According to the latest data from the Moneyfacts UK Mortgage Trends Treasury Report, the average rate for a two-year fixed mortgage climbed from 5.80% at the end of March to 5.91% by the start of May. Similarly, the five-year…
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Homeownership Dreams Extend into Later Life
More individuals in their 50s and 60s are aspiring to own their first homes. Legal & General Mortgage Services reports a notable 13% increase in prospective homeowners aged 56 to 65 in the first quarter of 2024, compared to the same timeframe in the previous year. This increase is part of a broader trend observed…
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MPowered Mortgages Reduces Rates
MPowered Mortgages has announced cuts to its fixed mortgage rates. The company has reduced rates across its 2-year and 5-year fixed rate ranges For those considering locking in their mortgage rate, MPowered now offers more attractive terms. Starting from a lowered rate of 4.37%—a drop from the previous 4.59%—the 5-year fixed rate range is looking…
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Kensington Cuts Mortgage Rates
Kensington Mortgages has announced cuts to their interest rates, affecting both residential and buy-to-let mortgage products. These reductions, as high as 0.40%, are set to make property financing more accessible and affordable. Kensington Mortgages has made a considerable adjustment to its residential mortgage offerings, decreasing rates by up to 0.33% (33 basis points) across its…
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Rising Mortgage Rates Challenge UK Homebuyers
Securing an affordable mortgage has become increasingly challenging for UK homebuyers. The average rates for fixed mortgage deals have seen a fluctuation, with two-year deals averaging 5.85%, slightly down from 5.89%, and five-year deals climbing to 5.39% from 5.34% last week, according to Uswitch data. This change comes amid a tense climate in the mortgage…
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No Change in Interest Rates – What It Means for Mortgages
The Bank of England has made a decision to maintain the base interest rate at 5.25% for the sixth consecutive time, starting initially in September 2023. This decision comes after a period of aggressive rate increases, with 14 consecutive hikes since December 2021. In the latest vote, seven members of the Monetary Policy Committee (MPC)…
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UK Mortgage Growth Set to Increase as Inflation Declines
The UK housing market has faced its fair share of challenges in recent years, with high inflation and soaring mortgage rates putting a damper on many people’s dreams of buying a home. However, the latest forecast from the EY ITEM Club, a respected economic forecasting group, brings a glimmer of hope. They predict a significant…
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Atom Bank Reduces Commercial Mortgage Rates
Atom Bank has recently announced a reduction in the interest rates on its commercial mortgages. This move is a boon for businesses looking for competitive financing options, particularly as we approach the end date for applications under a key recovery scheme. In a strategic move to boost its commercial lending attractiveness, Atom Bank has reduced…
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MPowered Mortgages Lowers Loan Rates
MPowered Mortgages has announced a reduction in their fixed rate mortgage offers, making home financing a bit more accessible in these challenging economic times. This move includes cuts of up to 0.65% across various mortgage products, which could mean considerable savings for borrowers. MPowered Mortgages’ latest adjustments span both three-year and two-year fixed rate plans,…