Tag: Santander
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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…
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UK Mortgage Rates on the Rise – Best Options This Week
Securing an affordable mortgage has become a bit more challenging for UK house hunters. As mortgage providers hike their rates, the dream deals of below 4% have all but disappeared, making it crucial for prospective homeowners to stay informed about the latest shifts in the mortgage landscape. The End of Sub-4% Mortgage Deals Mortgage rates,…
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Wave Goodbye to Bargain Mortgages? Rates on the Rise as Cheap Deals Disappear
The era of sub-4% mortgage rates seems to be drawing to a close. This shift comes as mortgage providers hike up their rates on new fixed deals, bringing an end to the more affordable borrowing costs that many had been enjoying. Here’s a round up of the latest mortgage market trends, what’s driving these changes,…
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Reuters Poll Says House Prices Will Flatline This Year
British house prices, which have seen a tumultuous time, are expected to stabilise this year, offering a silver lining for prospective homeowners. This stabilisation is a step up from previous forecasts and is attributed to a combination of supply constraints and anticipated cuts in interest rates. The property market in the UK has shown signs…
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Coventry Building Society Joins Rate Hike Bandwagon
Coventry Building Society has announced an imminent increase in its mortgage rates. This decision places additional pressure on aspiring homeowners, particularly at a time when many are already grappling with the rising costs of living. Starting from tomorrow, Coventry Building Society will elevate rates for all new residential and buy-to-let products aimed at new borrowers.…
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Santander’s 5% Deposit Scheme for First-Time Buyers
Santander has announced a new offering: 95% mortgages on new-build homes. Until now, the hurdle of gathering a substantial deposit has been a significant barrier for many. Traditionally, Santander required a 15% deposit for new-build houses and an even steeper 20% for flats. However, starting from Tuesday, this will change dramatically. Both houses and flats…
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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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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…