Tag: TSB
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Mortgages Getting More Expensive – TSB & Skipton Hike Rates
It’s bad news for anyone thinking about getting a mortgage, with two major lenders, TSB and Skipton, raising their rates. This means you’ll be paying more to borrow money to buy a home. TSB has announced it’s increasing the rates on some of its most popular mortgages, making it more expensive for first-time buyers and…
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Mortgage Rates Mostly Unchanged This Week
As reported by Uswitch, the average rate for a two-year fixed mortgage stands still at 5.89%, while the rate for a five-year deal has slightly decreased from 5.39% to 5.35%. These figures come in the wake of the Bank of England’s decision to maintain the UK interest rate at a 16-year peak of 5.25%. This…
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Mortgage Rates Rise as Homebuyers Hustle
As the UK housing market continues to wobble, this week saw a climb in mortgage rates that has both first-time buyers and those looking to remortgage feeling the squeeze. With an unexpected election on the horizon and fewer rate cuts anticipated from the Bank of England (BoE), climbing the property ladder is becoming increasingly tricky.…
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Possible Interest Rate Cut Coming in August, Economists Anticipate
Economists are gearing up for a potential interest rate reduction by the Bank of England, predicting it more likely to happen in August rather than the upcoming June meeting. Under the scrutiny of the Bank’s Monetary Policy Committee, led by Governor Andrew Bailey, there’s a growing anticipation. Currently, the base rate stands at a 16-year…
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Mortgage Relief – UK Banks Slash Fixed-Rate Costs
Three prominent UK banks have announced reductions in the cost of fixed-rate mortgages. This shift marks a reversal from recent trends where mortgage rates were on the rise, bringing a sigh of relief to many. Barclays Bank, HSBC, and TSB are the three financial giants leading this welcome change. Starting this Friday, these banks are…
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Mortgage Latest – Santander Repeats Rate Rise
Santander has announced a significant increase in its mortgage rates, marking its second adjustment this week alone. This follows a trend set by other major banks as the cost of borrowing for homes escalates rapidly. Starting tomorrow, Santander will increase the interest rates on several of its fixed-rate mortgage deals. This adjustment could see rates…
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Prime London Property Prices Slide in Q1, But Brighter Days May Be Ahead
In the first quarter of 2024, London’s high-end property market took a bit of a tumble. Prices in Prime Central London have fallen, marking a 3.9% decrease as investors and homeowners alike hold their breath for a potential rebound. However, experts are suggesting that this drop might just be a short detour on the road…
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Home Buyers Rally – UK Mortgage Approvals Hit 18-Month Peak
March marked a significant turning point for the UK housing market as mortgage approvals surged to their highest level in 18 months. This recent data from the Bank of England highlights a resilient property market that continues to recover robustly, despite escalating mortgage rates and economic uncertainties. In a detailed announcement on Tuesday, the Bank…
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Mortgage Rate Hikes, What Homeowners and Landlords Need to Know
Major mortgage lenders have increased their rates, affecting both homeowners and buy-to-let landlords. This change has removed some of the most affordable two-year fixed rates from the market. Last week, TSB announced rate increases on their two-year, three-year, and five-year fixed-rate mortgage deals by up to 35 basis points. This change will affect a wide…
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Halifax Joins Wave of Increases Hitting the UK Mortgage Market
Halifax, Britain’s largest mortgage provider, has announced an increase in borrowing costs that will impact new borrowers and existing customers alike. Starting from Friday, 26 April, the changes are part of a growing pattern where financial institutions are raising rates in response to shifting market conditions. Halifax, along with its specialist lending arm BM Solutions,…