Tag: Remortgage
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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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House Prices and Mortgages – What a Recession Means for You
In recent news, the UK has officially plunged into a recession, as confirmed by the latest figures from the Office for National Statistics (ONS). With the economy contracting by 0.3% in the last quarter of 2023, concerns are rising about how this economic downturn will impact house prices and mortgage rates. Understanding the Recession First…
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Mortgage Rates On The Rise
Major banks and lenders like Halifax, NatWest, Virgin Money, and TSB have announced hikes in their fixed-rate mortgage deals. This move reflects the broader market’s response to increasing swap rates—the interest rates at which banks lend to each other—amid expectations that interest rates will remain elevated for an extended period. Understanding The Shift The Bank…
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Dutch-Style Mortgages Make Their Way to UK Shores
A Dutch lender named April is introducing an innovative mortgage product that promises to make homeownership more accessible and affordable for Britons. This Dutch-style mortgage model, a first of its kind in the UK, is designed to reduce the interest rate as the homeowner pays down their loan, offering a significant financial relief over the…
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Molo Finance Cutting Stress Rates for BTL
Molo Finance has announced significant cuts in its stress rates for buy-to-let mortgages. This adjustment, according to the company, is tailored to align with the evolving market conditions, aiming to bolster the private rental sector. Molo Finance has rolled out reductions in the stress rates of its two-year fixed and tracker mortgage products. Mark Michaelides,…
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Newcastle Reduces Mortgage Rates for Self-Employed
Newcastle Intermediaries has announced a significant reduction in mortgage rates specifically designed for the self-employed. Franco Di Pietro, the head of intermediary mortgages at Newcastle Building Society, highlighted the initiative’s core aim, “We want to provide brokers’ newly self-employed clients with as wide a range of competitive options as possible in order to secure a…
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Buy To Let Mortgages Roundup – 6th February
The NRLA published a roundup of latest news and products from the BTL mortgage market. Here’s our summary – A Wave of Cuts The Mortgage Works Leads the Charge The Mortgage Works has made headlines not once, but twice in a single week, announcing rate cuts up to 0.15 percent for new customers. With rates…
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Mortgage Rates Rise But First-Time Buyers Catch a Break
Two of the UK’s banking giants, HSBC and Halifax, have announced increases in their mortgage rates, bucking the trend of anticipation for a cut in interest rates by the Bank of England later this year. This news comes as a blow to homeowners looking to switch deals or borrow more, with HSBC revealing hikes in…