Tag: Remortgage
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How UK Homeowners Are Weathering Rising Mortgage Rates
The financial situation for UK homeowners has transformed significantly. The era of ultra-low interest rates, a comfortable norm for over a decade, has given way to a new reality of climbing mortgage rates. This shift has sparked concerns and challenges for the nine million mortgaged households and nearly two million landlords across the country. But…
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Coventry for Intermediaries Boosts Landlord Borrowing Power
Coventry for intermediaries has revamped its affordability criteria for buy-to-let mortgage applications, promising easier access to funding. This change means landlords can now borrow more against their rental properties than ever before, thanks to a generous reduction in the reference rates. Previously, a basic rate taxpayer earning £900 in rental income and eyeing a five-year…
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Interest Rates Hold Steady – Impact on Your Mortgage and Future Predictions
The Bank of England has made the call to keep the base interest rate locked at 5.25%. This marks the fifth consecutive time the rate has remained unchanged, following a series of hikes that saw rates climb for 14 straight times since December 2021. But what does this mean for you and your mortgage? Let’s…
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Mortgage Rates Dip – Hope for Homeowners as Inflation Drops
The shadow of high mortgage rates may be starting to lift, bringing a glimmer of hope to prospective homeowners across the UK. The recent fall in inflation has sparked a wave of optimism, suggesting that the cost of borrowing could decrease sooner and more significantly than previously anticipated. In an encouraging development for those looking…
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Buy to Let by Foundation Introduces Attractive Two-Year Fixed Rate Offer
Buy to Let by Foundation has rolled out a special, limited edition mortgage product designed specifically for those looking to invest in the rental market. This new two-year fixed rate buy-to-let (BTL) mortgage aims to enhance the company’s existing selection of landlord-friendly financing options. Key Details of the Offer The newly launched F1 limited edition…
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TSB Hikes Mortgage Rates
TSB has announced that from today, the 20th of March, they’re dialing up the heat on their mortgage rates. This change isn’t just a minor tweak; it’s a significant hike of up to 0.25 percentage points affecting both new and existing customers eyeing fixed-rate deals. If you’re in the market for a new home, looking…
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Halifax Set to Hike Remortgage Rates This Friday
Halifax, one of the UK’s leading mortgage lenders, has announced a significant update that will impact numerous homeowners and prospective buyers across the country. Starting from this Friday, 15 March, Halifax will be increasing its remortgage rates, specifically targeting its two-year fixed rates. This decision follows closely on the heels of their recent adjustments to…
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Coventry Building Society Cuts Rates
Against the recent trend of climbing mortgage rates, Coventry Building Society has announced a series of cuts across its mortgage range. While many lenders have been hiking up their rates, Coventry Building Society is taking a different route. The society has declared a reduction in rates for various fixed-rate mortgages, specifically targeting two-, three-, and…
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Mortgage Mysteries – Why Your Rates May Rise Despite Bank Cuts
You’re eyeing up that all-important date in July – the time to remortgage. But there’s a cloud of confusion hanging over: why do mortgage rates keep climbing when whispers in the financial alleys hint at the Bank of England’s base rate taking a dip? Aren’t these two financial factors supposed to waltz together in harmony?…
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Mortgage Rate Hike Alert
Santander, Halifax, NatWest, the Co-operative Bank, and Principality Building Society have all declared they’ll be hiking their mortgage rates this week. This comes as a bit of a shock, especially since Santander has been known for offering some of the most competitive rates on the market. For instance, Santander’s cheapest two-year fix rate will jump…