Tag: Remortgage
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Coventry Cuts Residential and BTL Rates
Coventry Building Society has decided to reduce rates across several areas in its mortgage portfolio. From this Friday, expect to see the following changes: Market Insights: What The Experts Are Saying Reacting to the Rate Changes Industry professionals have been quick to weigh in on these changes: The Bottom Line If you took advantage of…
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TSB Increases Mortgage Rates
TSB, one of the UK’s prominent banking institutions, has recently made a strategic adjustment to its mortgage rates. Specifically: Market Comparisons Given the rate adjustments by TSB, where does the market stand now? Why the Sudden Change? In recent months, the general trend across lenders has been decreasing mortgage rates. This makes TSB’s decision somewhat…
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Buy-To-Let Still Giving 8% Returns in Some Areas
With rising interest rates, sterner regulations, and a tax squeeze, many prospective landlords are questioning the viability of their investment dreams. Yet, research from digital mortgage lender Molo Finance suggests that by picking the right locations, investors can still reap yields nearing an impressive 8% in England and Wales. Understanding Property Yields Before diving deeper,…
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More Mortgage Lenders Slash Rates in Ongoing Price War
The UK’s property market is witnessing an intense competition among mortgage lenders, with major players like Santander and Skipton making significant cuts to their mortgage rates. This move, seen by many as a reflection of the ongoing price war in the mortgage industry, is great news for prospective buyers and investors. It indicates more affordable…
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Where Are Interest Rates Heading?
Experts believe the Bank of England is likely to reduce the base rate to approximately 3% by the end of 2025, a significant drop from the current 5.25%. Although this indicates a downward trend, it doesn’t translate to an immediate or drastic reduction. Since December 2021, there has been a consistent rise in the base…
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TSB is Latest Lender to Slash Rates in Ongoing Price War
Starting from 20 October, TSB, recognised as the UK’s 10th largest mortgage lender, is set to initiate a strategic reduction in its selected two and three-year fixed rates. New borrowers stand to benefit from cuts of up to 0.5 percentage points, a move that underscores the intensity of the ongoing competition among lenders. Specifically, TSB’s…
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Will Mortgage Rates Fall in 2024?
After a tumultuous period of soaring mortgage rates, the UK finds itself at a financial crossroads. With the Bank of England’s recent decision to maintain interest rates, many are left wondering what the future holds for homeowners and potential buyers. Will the tide turn in favor of borrowers, or is this merely the calm before…
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Virgin Money Shakes Up the Mortgage Market with New Five-Year Offer!
In a dynamic move that’s sure to ripple through the UK’s mortgage market, Virgin Money has made significant cuts to its fixed mortgage rates, propelling itself into the leading position with a competitive five-year fixed rate for home purchases. Starting tomorrow, 18 October, new customers can avail themselves of a five-year fixed rate at an…
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The Rise of Second Charge Mortgages
In recent years, the UK’s financial landscape has experienced significant shifts, with more property owners seeking innovative ways to leverage their assets amidst economic uncertainty. One notable trend is the increasing reliance on second charge mortgages, especially when traditional remortgaging options don’t align with borrowers’ needs or financial strategies. Understanding Second Charge Mortgages Traditionally, homeowners…
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A Rocky Climate for Landlords
Recent market conditions have proven challenging for landlords. Factors such as climbing interest rates, unstable swap markets, and strained affordability assessments are hindering the acquisition of new properties and the remortgaging of existing ones. Compounding these financial pressures is the reduced assortment of available mortgage deals. The Department for Levelling Up, Housing & Communities (DLUHC),…