Category: Mortgages
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New 99% Mortgage Scheme Planned by Government
Chancellor Jeremy Hunt is sketching out a plan to make the dream of home ownership a reality for more Britons, the FT reports. With a new 99% mortgage scheme on the drawing board, the Conservative party is sending a strong message: they stand firmly with those yearning to own their first home. A Bold Step…
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Mortgage Market Squeeze – HSBC Stands Alone with Sub-4% Deals
HSBC has become the solitary source for borrowers seeking rates under 4%, following Santander’s recent adjustments to its loan pricing. This development underscores a tightening market, where affordable borrowing options are becoming increasingly scarce, highlighting the need for potential homeowners and those looking to remortgage to act swiftly. Santander’s Rate Hike Santander has adjusted its…
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The Latest on UK Mortgage Rates, February 20th 2024
Recent trends have shown a halt in the previous downward trajectory of mortgage rates. Some lenders have nudged their fixed-rate deals upwards. The average rate for a two-year fixed mortgage has crept up to 5.59% from 5.55%, while the five-year fixed deal saw a slight increase to 5.11% from 5.09%, as reported by Uswitch. This…
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Mortgage Costs on the Rise Amid Economic Shake-Up
Mortgage costs are on an upward trajectory as banks brace for a period of prolonged high interest rates, leaving millions of homeowners facing steeper bills. This development comes at a time when economic uncertainty looms large, casting a shadow over the financial market and complicating the path forward for those looking to secure or renew…
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NatWest Mortgage Rates on the Rise
NatWest has announced a significant update to its mortgage rates, affecting new and existing customers alike. Starting from today, 16th February, those looking to secure a new mortgage or remortgage their property with NatWest will find themselves facing higher interest rates. If you’re in the market for a new mortgage, brace yourself for an increase…
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Mortgage Rate Hike from Virgin
Virgin has announced increases in its mortgage rates, adding up to 0.39% to both residential and buy-to-let mortgages. Alongside this, they have rolled out new mortgage options that blend the best of both worlds for borrowers looking for stability and flexibility. In a bid to offer more adaptable financial products, Virgin introduced the Fix and…
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Mortgages – How the Latest Inflation Figures Impact You
Homeowners and prospective investors have been on a rollercoaster ride, thanks to recent shifts in mortgage rates by some of the UK’s largest lenders. The market has seen a mix of ups and downs, with announcements that could impact your pocket directly, especially if you’re in the market for a new home or trying to…
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Mortgage Rate Drop – Biggest Decline in Two Years Offers Hope to Homebuyers
The UK mortgage market has experienced its most significant monthly drop in average two-year fixed mortgage rates since December 2022. This decline could signal a golden opportunity for borrowers to secure more affordable financing options amidst a volatile economic landscape. According to recent data from Moneyfacts, a leading financial information provider, the average two-year fixed…
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Bluestone Reducing Mortgage Rates
Bluestone Mortgages has announced significant cuts to its mortgage rates, offering a lifeline to first-time buyers and individuals facing credit challenges. They have rolled out rate reductions across a variety of their mortgage products. These cuts span both two and five-year fixed rate mortgages, as well as the Deposit Unlock scheme, which is specifically designed…
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Mortgage Squeeze – First-Time Buyers and Landlords Face Rising Costs in 2024
A new report from Octane Capital sheds light on the financial pressures looming for first-time buyers and landlords alike. With mortgage repayments set to climb significantly in 2024, the dream of homeownership and investment in property could get pricier. For those looking to step onto the property ladder for the first time, the forecast is…