Is It Worth Remortgaging Early? A Simple Guide for UK Homeowners
Refined Word doc is ready. Now here is the same treatment applied to your remortgaging content: Slug URL: is-it-worth-remortgaging-early-uk-guide Primary Keyword: remortgaging early UK Secondary Keywords: is it worth remortgaging early, early repayment charges UK, remortgage before deal ends, release equity remortgage, fixed rate remortgage UK, buy to let remortgage early, remortgage savings calculator UK, […]
‘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 […]
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 […]
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, […]
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 […]
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 […]
UK interest rate rise: what it means for you
How the new base rate of 4.25% might affect mortgages, house prices and credit cards Business live – latest updates Analysis: Is this the end of interest rate rises? Bank of England raises interest rates to 4.25% The Bank of England has yet again raised interest rates, this time by 0.25 percentage points, taking the […]
UK government made £2.4bn from ‘mortgage prisoner’ loan sales, says Martin Lewis
Tens of thousands of borrowers had their loans sold on to providers at which they were unable to switch The UK government made a £2.4bn “profit” when it pushed tens of thousands of mortgage borrowers “into poverty” after selling their loans on to new lenders, the campaigner Martin Lewis has claimed. The MoneySavingExpert founder was […]
How rising interest rates sent the UK housing market into reverse
An end to ultra-low rates mean borrowers can only afford smaller mortgages BoE boss says interest rates may have peaked UK house prices fall at fastest annual rate since 2012 Since the turn of the year the news on the economy has been less bad than expected. Growth has been a bit stronger, spending in […]
UK mortgage market contracts for fifth month after Liz Truss mini-budget
Approvals at lowest since 2009 – bar during Covid lockdown – as demand for new homes continues to fall Britain’s mortgage market has contracted for a fifth month in a row, official figures show, as the jump in interest rates that followed Liz Truss’s September 2022 mini-budget continued to trigger a collapse in demand for […]
UK mortgage deals: how to navigate the rollercoaster rates ride
Amid a debate about what is happening to the housing market, what are your options? We are in the grip of a mortgage price war, according to some experts – but it probably won’t feel like that if you are staring down the barrel of much higher monthly payments. It is certainly fair to say […]
‘I’m really worried’: homeowners and would-be buyers on UK interest rates
As the base rate reaches 4%, we hear from people concerned about rising mortgage costs Chris Felix-Hill, 47, and his wife, Adeline, from Steeple, Essex, are struggling to keep alive their dream of one day becoming homeowners, after “demoralising” house price rises during the pandemic and yet another interest rate rise from the Bank of […]
Will the interest rate rise trigger a stampede for tracker mortgages?
Hints by Bank of England that rates may have peaked leaves those remortgaging in a quandary What does the Bank of England interest rate rise mean for you? The rush towards tracker mortgages that began even before Thursday’s interest rate rise could well become a stampede after the Bank of England signalled that rates may […]
Bank of England raises UK interest rates to 4%
Hike of 0.5 percentage points lifts rates to 14-year high, but BoE says shorter and shallower recession now more likely Interest rates rise again but Bank of England hints at a brighter future The Bank of England raised interest rates for a tenth consecutive time on Thursday from 3.5% to 4%, but said inflation may […]
UK demand for mortgages slumps as interest rates deter buyers
Bank of England figures also reveal many households are dipping into savings, rather than using credit cards Demand for mortgages has collapsed to its lowest level since the depths of the 2020 lockdown as potential homebuyers are deterred by rising interest rates, the latest official figures show. The Bank of England said the number of […]
UK’s LendInvest Acquires Funding from Lloyds Bank to Launch into Homeowner Mortgages
LendInvest (LSE: LINV), which claims to be the UK’s leading asset manager for property finance, announces increased funding from Lloyds Bank now totaling £300 million “to support its entry into the UK’s £1.2 trillion homeowner mortgage market.” LendInvest’s home owner mortgage product, “which beta launched… Read More
UK Mortgage Payments Hit Highest Level Since 2008
Mortgage costs relative to income in the United Kingdom have risen to their highest level in years. The latest data published by mortgage lender Nationwide Building Society Friday (Jan. 13) revealed that in the final quarter of 2022, first-time buyers were spending on average 39% of their take-home pay on mortgage repayments, the highest level […]
Tell us: are you struggling with the process of buying a house in the UK?
We would like to hear from people trying to buy yet struggling to afford rising rents in the meantime, or those experiencing issues with getting mortgages approved As UK mortgage approvals have fallen to their lowest level since 2021, and as mortgage rates continue to rise, we would like to hear from people who are […]
Mortgage payers face squeeze in 2023 after UK interest rate rises
Wealthy people who own home outright will avoid higher costs and benefit from better return on savings Homeowners with mortgages will be among the biggest losers from the cost of living crisis in 2023 due to interest rate rises, while the wealthiest UK households will benefit from better returns on savings and investments, according to […]
UK homeowners: are you considering downsizing for cheaper mortgage repayments?
We’d like to hear from homeowners in the UK who are thinking of downsizing to a cheaper property in order to reduce monthly mortgage payments As disposable incomes in the UK are forecast to slump by 3.8% in 2023, and more than five million families could see their annual mortgage payments rise by an average […]
High-rise mortgage costs see surge in rents across the UK
House prices may be falling as interest rates climb, but there’s no respite for tenants as property shortages bite It’s a tale of two markets: while private rents have soared to record highs in the UK, making life precarious for tenants, the for-sale sector has slowed sharply and property values have started to fall, with […]
What is happening to the UK homebuying and rental markets?
House prices for buyers have started to fall, while housing rents have reached record highs For Joe, a youth worker in his 20s, soaring rents have made living and working in London precarious. “Our rent costs 50% of our combined wage before bills,” says Joe, who shares with his partner, a receptionist. They pay £1,450 […]