What Happens at the End of a Fixed Mortgage Deal?
What Happens at the End of a Fixed Mortgage Deal? If you’re coming to the end of your fixed mortgage deal, it’s important to know what your options are and what to expect next. A fixed mortgage offers peace of mind with set payments for an agreed period usually 2, 3, 5, or 10 years […]
What Documents Do I Need for a UK Mortgage Application? A Simple Guide
Applying for a mortgage can feel overwhelming, especially when it comes to gathering the right paperwork. Whether you are buying your first home, moving property, remortgaging, or investing in a buy-to-let property, lenders need to check your identity, income, affordability, deposit, and financial position before making a decision. This guide explains the key documents you […]
How Long Does a Mortgage Application Take?
Applying for a mortgage is a major step when buying a home or investing in property in the UK. One of the most common questions buyers ask is: how long does a mortgage application take? Whether you are buying your first home, moving house, remortgaging, or applying for a buy-to-let mortgage, understanding the mortgage application […]
What Credit Score Do I Need for a Mortgage in the UK?
Whether you’re buying your first home, investing in a buy-to-let property, or remortgaging, understanding your credit score is an important part of the mortgage process. If you’re in the UK and wondering, “what credit score do I need for a mortgage?” this guide will help you understand how credit ratings affect your chances and what […]
Can I Get a Mortgage with a Small Deposit?
Buying a home is one of the biggest financial decisions you’ll make. For many people in the UK, saving for a deposit can feel like a major hurdle. You might be asking yourself: “Can I get a mortgage with a small deposit?” The good news is that, in many cases, yes it may be possible […]
Fixed vs Tracker Mortgages: Understanding the Key Differences for UK Buyers
Choosing the wrong mortgage type can make monthly payments harder to manage. When you’re looking to buy a home or invest in property in the UK, one of the biggest decisions you’ll make is choosing the right mortgage type. Two popular options are fixed-rate mortgages and tracker mortgages. But what exactly do these terms mean, […]
First-Time Buyer Mortgage Process Explained Simply
Buying your first home is an exciting milestone, but the mortgage process can seem complicated and overwhelming. At BSL Financials, we’re here to help first-time buyers understand each step clearly, so they can make confident choices without the jargon or stress. This guide explains the first-time buyer mortgage process in the UK, the types of […]
What is an Agreement in Principle? A Simple Guide to UK Mortgages
What is an Agreement in Principle? Buying a home is one of the most significant financial decisions you’ll make. If you’re planning to take out a mortgage in the UK whether it’s for your first home, a new buy-to-let property, a fixed-rate deal, or a variable mortgage the term Agreement in Principle will come up […]
How Much Deposit Do I Need for My First Mortgage in the UK?
How Much Deposit Do I Need for My First Mortgage? Buying your first home is an exciting step, but one of the first questions you’ll probably ask is, how much deposit do I need for my first mortgage? Understanding the deposit size helps you plan your finances better and boosts your chances of mortgage approval. […]
‘This is just ruinous’: the Britons unable to afford their homes
Millions are finding themselves priced out of renting and buying amid high inflation and mortgage rates Out of reach? The tool that shows where you can afford to buy or rent in Great Britain The cost of living crisis, spiralling mortgage rates and soaring rents have exacerbated property shortages in Britain to the extent that […]
Economic growth to pick up but risks to recovery ‘elevated’, say UK forecasts
Households and firms can expect more financial pain despite Britain dodging technical recession, says KPMG Britain will be left with deep scars from the pandemic despite narrowly escaping a second recession within three years and growing signs of an economic pick up, according to new forecasts. A new report by the accountancy firm KPMG has […]
Mortgage turbulence continues as HSBC pulls deals and Nationwide raises rates – business live
HSBC temporarily removes mortgage products for new customers, as borrowers face higher rates HSBC temporarily withdraws mortgage deals for new borrowers The UK’s cost of living crisis has driven down sales on the high streets, which turned negative for the first time in more than two years Total like-for-like retail sales, combining in-store and online, […]
Homes for sale near festivals – in pictures
From a restored old coach works in London to an 18th-century paper mill in the Lake District Continue reading…
‘It would really help us’: renters in the UK who want a 100% mortgage
No-deposit loan presents possible route out of rental trap to those deemed eligible When Skipton, one of Britain’s biggest building societies, launched the UK’s first 100% mortgage exclusively for renters last month, reactions varied wildly. While some commentators regard the first-of-its-kind home loan as a “revolutionary” way to get people out of the rental trap […]
UK house prices experience annual fall for first time in decade, data shows
Price of average home in May was 1% lower than in same month last year, according to Halifax figures UK house prices have experienced their first annual fall in more than a decade, according to Halifax, in a sign that the impact of soaring interest rates on household budgets has brought a halt to the […]
Housebuilders cut back on construction as UK mortgage rate rises spook buyers
Work on residential building sites slips in May to weakest level since 2009 UK banks pull hundreds more mortgage deals as fixed rates rise Britain’s housebuilders are cutting back on the construction of new homes amid signs that potential buyers are being spooked by the prospect of increases in mortgage rates over the coming months. […]
UK banks pull hundreds more home loan deals as fixed mortgage rates rise
Mortgage market turmoil prompts record numbers of people to take out loans of more than 35 years Hundreds more home loan deals have been pulled by banks and building societies since the end of last week while rates on new fixed mortgage deals are continuing to ratchet upwards, the latest data reveals. The continuing turmoil […]
Mortgages: UK lenders continue to raise rates and pull deals
Record 19% of all loans taken out by first-time buyers in March were for 35 years or longer Business live – latest updates Mortgage market misery has stepped up for homebuyers as lenders continue to increase borrowing rates and pull deals, prompting record numbers to take out loans of more than 35 years in an […]
We can’t get a mortgage to help us buy a listed property. Should we find another way?
The seller failed to get conversion warranty but bought retrospective one, while broker suggested secured loan to us Q My husband and I have recently sold our first home in the south-east and now have £300,000 in our bank account. We would like to buy a beautiful property farther north for the agreed price of […]
Biggest drop in UK annual house prices since 2009, with market ‘facing strengthening headwinds’ – business live
Nationwide reports that UK annual house price growth fell to -3.4% in May, from -2.7% in April, but hopes for a ‘soft landing’ Chris Druce, senior research analyst at estate agent Knight Frank, says further interest rate increases will act as a ‘brake’ on the housing market: “With fewer transactions at the start of the […]
Agreed house sales in UK at highest point this year, says Zoopla
But property website warns that rebound in activity could be hit by rising mortgage rates More prospective house sellers are returning to the UK’s property market, pushing agreed home sales to their highest point of the year in May, according to Zoopla, although it warned that the rebound in activity could be knocked by rising […]
Stylish new-build UK homes for sale – in pictures
From an airy modern studio in Edinburgh to a Georgian-influenced village in Dorset Continue reading…
UK homeowners and first-time buyers warned to brace for 5%-plus mortgage rates
Lenders forced to raise fixed-term deals after latest inflation figure pushed swap rates upwards Households looking for a new mortgage deal have been warned to expect 5%-plus fixed-rate deals in the coming weeks, after Wednesday’s inflation figures sent the money markets back into turmoil. Nick Mendes, the mortgage technical manager at the broker John Charcol, […]
Inflation calculator: find out how much UK household price rises affect you
This online tool will help you discover what is contributing to your household’s cost of living increases Inflation has been soaring in the UK, with people being hit by higher prices for everyday essentials. The latest inflation rate for the 12 months to April 2023 means that goods and services cost more than 8.7% more […]
UK inflation drops but food price rises remain close to 45-year high – business live
Rolling, live coverage of business, economics and financial markets as analysts expect drop in consumer price index inflation Rachel Reeves, Labour’s shadow chancellor, is focusing on food prices (as did her Conservative counterpart). But it is the core inflation number that is catching the eye of many analysts. Continue reading…
Private renters ‘almost twice as likely to struggle with debt as UK general population’
Charity says stronger protections are needed or people will be left vulnerable to ‘hair-trigger evictions’ Private renters are almost twice as likely to be struggling with problem levels of debt as the general population, with a sharp rise in the numbers in serious financial difficulty since January, research shows. The figures come against a backdrop […]
A broker told me I don’t earn enough for a London mortgage. Is that true?
I have lived at the family home all my life, I earn £26,000 a year and have about £60,000 for a deposit Q I’m almost 26 and have lived at home my whole life, just outside the M25. I am a tailor, I didn’t go to university – so have no student debt – and […]
UK households with communal heating facing 350% rise in energy costs
Surge in energy costs filtering through to low-income households on shared heat networks Lambeth council tenants ‘in precarious position’ after 350% service charge rise Residents in council homes and private flats with communal heating systems are experiencing a “nightmare” rise in their energy bills, with households scrambling to fund increases of up to 350%. An […]
Lambeth council tenants ‘in precarious position’ after 350% service charge rise
Price hikes of up to £300 a month for communal heating and hot water driven by rapid increase in energy costs UK households with communal heating facing 350% rise in energy costs Peter Shapcott is sitting in his council flat in Brixton, south London. As he examines the bills that have come out of his […]
British supermarkets report shortages of peppers as Morrisons rations sales
Retailer limits purchases to two a customer after cold snap in Europe hits supplies British supermarkets are running short of peppers after a cold snap in Europe, leading some to limit the number customers can purchase. In a repeat of the shortages of salad crops in February and March, another bout of unseasonably cold weather […]
Landlord mortgage costs rising faster than rent rises, research shows
Landlords’ mortgage costs have been faster than rent rises over the past two years, new research has highlighted. Estate agency Barrows and Forrester says its analysis of average landlord borrowing costs show a BTL investor with a variable rate repayment mortgage is now paying a 20% more a month than in 2021, or £1,113 compared […]
BREAKING: £17.9 billion landlord bill for EPC upgrades revealed
Private landlords face a combined bill of £17.9 billion to upgrade their properties to a minimum EPC band C by 2025, with landlords in the capital facing the largest bill at £3.2 billion. Knight Frank’s figures highlight the looming crunch within the private rented sector presented by the EPC upgrade requirements, funding details of which […]
How to Evaluate a Potential Real Estate Investment Opportunity
Evaluating a potential real estate investment opportunity can be stressful. There are many factors to consider, including market conditions and property prices. However, it’s also important to consider whether your plan for improvements will be successful in increasing the value of the property over time. In this blog post, we will explore strategies for evaluating […]
Little progress made on energy efficiency in UK homes, report finds
National Infrastructure Commission accuses ministers of ‘prevarication’ over installation of heat pumps Ministers have made negligible progress in improving the energy efficiency of the UK’s homes even as Russia’s invasion of Ukraine has underscored the need to cut the reliance on gas for home heating, according to the National Infrastructure Commission (NIC). The independent infrastructure […]
Jeremy Hunt has left the UK to rot in poverty. So we must take matters into our own hands | Gordon Brown
With hygiene banks now joining food banks and clothes banks, I’m calling on retailers to take drastic action and help their poorest customers Poverty will last until doomsday if this Conservative government is all that confronts it. The so-called “budget for growth”, more accurately titled the “budget for growth in poverty”, has done nothing for […]
Bank of England boss urges firms to hold back price rises or risk higher rates
Andrew Bailey says interest rates will have to rise again unless inflation falls Wetherspoon’s boss: hospitality holding off price rises could be ‘catastrophic’ The Bank of England governor, Andrew Bailey, has called on businesses to hold back price rises, telling them that interest rates will need to rise again unless inflation falls. Bailey, who was […]
Bank of England chief warns of further interest rate hikes if firms raise prices – business live
Andrew Bailey appeals to businesses to avoid price rises because higher inflation ‘hurts least well-off in society’ Stock markets are in the red again, with the FTSE 100 index down 67 points, or 0.9%, at 7,431. Germany’s Dax has lost 133 points, or 0.9%, to 15,076 while France’s CAC fell 65 points, or 0.9% to […]
Studio flats for sale – in pictures
From a historic art deco ‘bachelor’s pied-á-terre’ in the heart of Chelsea, to one of Manchester’s coolest geometric glass creations Continue reading…
UK households ‘spent 12% more on essentials in February than year earlier’
Almost four in 10 people have to use credit cards to cover such costs, says Nationwide Inflation and rising bills mean UK households are spending 12% more on essentials than they were a year ago, with almost four in 10 people having to use credit cards to cover these costs, new data shows. Two days […]
Food banks supported 800,000 UK children in 2021-22, data shows
One-fifth of UK population was in relative poverty after first year of pandemic, when support measures scrapped Families including 800,000 children were forced to turn to food banks to feed themselves as poverty levels started to rise again after the first year of the pandemic, the first official figures on UK food bank use show. […]