Category: Mortgages
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Another Rate Rise Predicted, but it May be the Last?
Interest rates set by central banks like the BoE play a significant role in determining the cost of borrowing for businesses, governments, and ordinary people. Recently, the BoE has been on a spree, adjusting the rates frequently. The Bank of England is preparing, yet again, to make an upward adjustment to the interest rates. If…
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More Mortgage Lenders Slash Rates
The UK mortgage market is experiencing a significant shake-up as high street lenders announce further reductions in mortgage rates. High street lenders have recently unveiled substantial reductions in UK mortgage rates. This news follows comments made by Bank of England Governor Andrew Bailey, who hinted that the UK might not see further rate hikes. Here’s…
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Surge in UK Mortgage Arrears
The UK property market is experiencing a significant shift, with the value of residential mortgages in arrears reaching a seven-year high in the second quarter of 2023. At the same time, mortgage loans have witnessed their most substantial drop in history, according to official data published by the Bank of England. In this article, we…
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Virgin, TSB, Yorkshire BS Slash Mortgage Rates
More lenders are reducing their borrowing costs. This trend comes in the wake of comments made by Bank of England Governor, Andrew Bailey, who suggested that interest rates may have peaked. Let’s take a closer look at the latest mortgage news. Virgin Money – A Good Deal for Homebuyers Virgin Money has made significant cuts…
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Mortgage Rate Cuts Expected This Week
Potential property investors in the UK may soon benefit from reduced mortgage borrowing rates. Many of the country’s major lenders, including Lloyds Banking Group, Barclays, Nationwide, and Santander, are expected to announce rate cuts this week. The move comes as the property market faces a challenging environment, with subdued home buying activity. The recent rate…
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London Has Most Postcodes with “Riskiest Mortgages”
London continues to dominate the property market, with a recent analysis revealing that 19 out of the 20 postcodes with the riskiest mortgages in the UK are located in the capital. The analysis conducted by Mazars highlights the concentration of highly leveraged loans in London, particularly in South West London where five postcodes top the…
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More People Looking for Interest-Only Mortgages
The UK property market has experienced some interesting developments in recent months that potential investors should be aware of. In this article, we will delve into the reasons behind the rise in searches for interest-only mortgages, the growing interest in non-traditional construction properties and energy-efficient homes, and changes in mortgage criteria for borrowers with visas.…
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House Purchase and Remortgage Activity Weak in Q2
The latest data from UK Finance reveals that mortgage borrowing activity in the UK remained subdued in the second quarter of this year, despite an improvement in consumer confidence. Both house purchase activity and external remortgage activity experienced a decline, primarily driven by affordability challenges. This article aims to provide potential property investors with an…
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Nationwide and Santander Cut Mortgage Rates
Nationwide Building Society and Santander have announced mortgage rate cuts, with other lenders potentially set to follow suit. Nationwide is cutting rates by up to 0.4% on its fixed mortgage products for new customers moving home, first-time buyers and remortgaging customers. Santander, which has already reduced rates by up to 0.29% in the past week,…
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More Lenders Announce Mortgage Rate Cuts
All six of the UK’s largest mortgage lenders have now cut their mortgage rates, anticipating that the inflation figures released today will show improvements.