News & Insight

Our expert views and commentary on what’s happening in the world of mortgages and sometimes beyond, along with our regular summary of what the papers say.

Why you might be turned down for a mortgage (and what you can do about it)

Most mortgage applications go without a hitch, but there are times when applications are refused, leaving buyers or homeowners wondering which way to turn. The good news is that once you know the reasons why a mortgage might be declined you can work on boosting your chances of being accepted. ...

Interest-only mortgages stage comeback

There are nearly 200 interest-only mortgages for borrowers to pick from, according to recent research, nearly double the number available in 2013. ...

Parliamentary group set up to help mortgage prisoners

MPs have set up an all-party parliamentary group (APPG) to explore ways to help mortgage prisoners who are stuck paying high interest rates because they’re unable to switch to better deals. ...

Are you ready for higher interest rates?

Despite the fact that interest rates were kept on hold at 0.75% this month, the Bank of England has warned that rate increases could be “more frequent” if the economy picks up. ...

5 reasons to remortgage

Not sure whether to remortgage? Here are five reasons why it could be a good idea for you to find a new mortgage deal: ...

What the papers said about 40-year terms and Buy-to-Let rates

The financial press took a look at the pros and cons of longer mortgage terms this weekend, following research produced by Santander that suggested almost half of buyers would consider taking a mortgage over a period of 40 years. ...

Interest-only borrowers urged to take action

More than a quarter of a million homeowners will reach the end of their interest-only mortgages in the next five years but could struggle to remortgage, according to new research. ...

Nationwide launches later life mortgage options

The building society said that it had launched its later life mortgage range in response to growing demand for borrowing into retirement, brought about by demographic and social changes....

What the papers said about the right time to switch

The Times reported this weekend that around £22.3 billion worth of mortgage deals will come to an end in April, meaning that potentially thousands of homeowners could be about to move onto more expensive Standard Variable Rates (SVR). ...

House price growth remains sluggish in March

UK house prices edged higher in March, according to Nationwide, rising by a modest 0.2% during the month as ongoing Brexit uncertainty continues to take its toll. ...

City watchdog proposes help for mortgage prisoners

Thousands of “mortgage prisoners” who are trapped paying high mortgage rates may soon be able to move to better deals under proposals announced by the Financial Conduct Authority (FCA). ...

Interest rates kept on hold amidst Brexit uncertainty

The Bank of England voted unanimously to leave the base rate unchanged at 0.75% in March, with political and economic uncertainty making it impossible to know which way rates will move next. ...

Are you ready for April council tax increases?

Council tax bills are on their way up again from April, but if you’re worried about rising household bills, remortgaging could help reduce your outgoings. ...

Planning for home improvements

Thinking about a new kitchen or adding an extension to your property in 2019? If so, you can’t start planning soon enough. ...

Regulator announces plans to help mortgage prisoners

Around 140,000 homeowners who are stuck paying high interest rate mortgages could soon find it easier to move to cheaper deals, under plans announced by the Financial Conduct Authority (FCA). ...

What are your mortgage resolutions?

Your mortgage is likely to be your biggest monthly outgoing, so it’s a great place to start if you’re looking to cut costs. Here’s our rundown of some of the mortgage resolutions you might want to consider making. ...

What will the Budget mean for the property market?

The Chancellor Philip Hammond will unveil his Autumn Budget on October 29th, with many speculating that he could announce a range of measures affecting the property market. ...

Is your self-employed paperwork up to date?

The number of self-employed people in the UK continues to grow, but getting a mortgage if you work for yourself isn’t always straightforward. ...

Get set for Gas Safety Week

This year’s Gas Safety Week, which runs from September 17-23, aims to raise awareness of the dangers of poorly maintained gas appliances, which can cause fires, explosions, gas leaks and carbon monoxide poisoning. ...

Borrowers fix for longer

Longer term 5 and 10-year fixed rate mortgages are becoming increasingly popular, as borrowers seek to protect themselves from further interest rate rises. ...

Mortgage lending up in July

Gross mortgage lending reached £24.6bn in July, according to latest figures from trade body UK Finance, its highest level since March 2016. ...

SVR Watch - August 2018

The Bank of England has increased base rate by 0.25% to 0.75%. Here’s our rundown of how lenders are reacting to the rise, so you can see whether yours has increased its Standard Variable Rate. ...

House prices pick up in July

House prices picked up last month, according to Nationwide’s latest house price index, with annual growth up from 2% in June to 2.5% in July. ...

What the papers said about rising rates

As expected, the weekend’s financial news focused primarily on last week’s decision by the Bank of England to increase the base rate for only the second time in a decade. ...

Bank of England raises interest rates

The Bank of England has raised the base rate to 0.75%, meaning higher monthly mortgage costs for millions of homeowners on variable rate deals. ...

Securing a fixed rate to protect against rising interest rates

Fixed mortgage rates remain at historic lows, with five-year rates available below 2% in May 2018. You don’t have to fix your rate for five years though to benefit from a low rate. Deals usually range from two years up to 10 years or longer, so you can pick a term to suit your needs. ...

Difference between SVRs and fixed rates grows

The gap between the best fixed rate mortgage deals and lenders’ standard variable rates has widened substantially over the past nine years, according to the Financial Conduct Authority (FCA). ...

Options improve for 95% remortgage deals

Homeowners with only a limited amount of equity now have a greater choice of remortgage options, with lenders including Virgin Money, Tesco and Atom Bank improving their offerings at this end of the market. ...

Remortgages up by a third in April

More than 40,000 homeowners remortgaged in April, according to latest figures from trade body UK Finance, up 36% compared to the same month last year. ...

Brexit could delay rate rises

Interest rates could be kept on hold for longer in the event of a “disorderly” Brexit, according to the Governor of the Bank of England....

Greater mortgage choice for buy to let landlords

Two lenders, Sainsbury’s Bank and The Mortgage Lender, have entered the buy to let market this for the first time, widening the range of mortgage options available to landlords. ...

What the papers said about borrowers young and old

Both ends of the lending spectrum were covered in this weekend’s financial press, and in particular the criteria that is enabling different generations to either get onto the property ladder, or stay on it. ...

What would a rate rise mean for you?

Expectations of a base rate rise in May were dampened following comments from the Bank of England governor Mark Carney, but it’s still vital for homeowners to consider the impact of higher rates. ...

What the papers said about preparing for change

With suggestions of an interest rate rise, possibly as soon as next month, the financial press reported this weekend on the levels of increased activity in the mortgage market. ...

What the papers say about mortgage rates

'Join the race to remortgage' was the main theme of this weekend's papers, with the Times keen to point out that 25 lenders have increased their rates in the past 2 weeks, driving 2 year fixed rates to their highest level since September 2016. ...

House price growth slows

House prices are growing at their slowest rate for five years, according to Halifax’s latest monthly House Price Index. ...

Make sure you use your paper £10 notes before 1st March!

There are just a few days to go before around 211 million paper £10 notes featuring Charles Darwin cease to become legal tender. That’s enough cash to pay off more than 14,000 mortgages of £150,000 each! ...

Interest-only borrowers warned to take action

Homeowners with interest-only mortgages who could face a shortfall in their repayment plans should take action or contact their lender as soon as possible to discuss their options. ...

What the papers said about rate changes and the Bank of Mum and Dad

The financial press reported this weekend on the increasing popularity of ‘Joint Borrower Sole Proprietor’ (JBSP) mortgages, which allow the income of family members – usually parents – to be taken into account, while the property title is held only in the child’s name. ...

M&S introduces first mortgage range

M&S Bank has launched its first mortgage range, which includes fixed and tracker deals for those moving home or remortgaging, as well as for first-time buyers. ...

What are your mortgage resolutions?

Many people put sorting out their finances at the top of their list of New Year financial resolutions, and reviewing your mortgage can be a great place to start. ...

What the papers said about ISA’s and remortgaging

The Guardian and Times both reported this weekend on newly released Government figures, which show that a million Help to Buy ISA accounts have been opened since December 2015. These accounts, they suggest, have helped struggling First-Time Buyers save £1.8bn. ...

First-time buyers continue to buoy mortgage market

First-time buyers and those remortaging continue to drive lending activity, according to the Council of Mortgage Lenders (CML), whilst the number of home movers and buy to let borrowers is falling. The number of buy to let purchases is nearly half what it was a year ago, the CML said, averaging around 6,000 purchases a month over the last 12 months. Buy to let figures have fallen dramatically following the introduction of the second home stamp...

Interest rates held at 0.25%

The Bank of England left the base rate unchanged at 0.25% in it’s May meeting, but warned that rising living costs and falling wages will mean “challenging” times for many households this year. ...

Leasehold Vs Freehold

Understanding the difference between leasehold and freehold is vital when buying a home. Find out more with L&C Mortgages....

What is let to buy?

Let to buy can be an option for those who want to purchase a new home whilst keeping hold of their current property and letting it out. As someone looking to buy a new property, it can allow you to release some equity from your current home and put it down as a deposit on your new one.It’s a popular choice for couples who move in together later in life, perhaps once they both already have their own properties. In this case, you’d both move into o...

Tips to add value to your home

If you’re looking to bump up the value of your property, perhaps with a view to selling it, then the good news is that lots of improvements can be made without breaking the bank. Here are our top tips on how to add value to your home....

How to help your mortgage affordability

When you apply for a mortgage, lenders will look to your bank statements to help them decide how much you can afford to borrow. Follow these simple steps to boost your mortgage affordability...

4 tips for mortgage money saving

A mortgage is one of the most expensive commitments many of us will ever take out, but even some of the savviest households fail to consider cutting the costs of their mortgage. ...

What the papers say – 6th – 7th June 2015

The Times, Independent and Sunday Times reported this weekend on the latest launch of headline grabbing rates, following the release by a high street lender of a 2 year tracker below 1%. Experts agreed that it was sure to attract attention, but before applying borrowers must consider other factors including set up fees and minimum payable rates (collars).The Independent on Sunday looked at the issues can arise when purchasing an ex-local authorit...

Can late payments affect a mortgage application?

Whilst some lenders are more lenient than others, late payments will always affect your mortgage application to some degree.If you miss a payment on any form of credit, it stays on your credit file for six years regardless of how quickly you have caught up. The likelihood is that this will have a negative impact on your credit rating, especially during the first few years.Still, it all depends on you and your individual circumstances as to how di...

Can you get a mortgage on a temporary work contract?

The good news is that being on a temporary work contract won’t necessarily stop you getting a mortgage, providing you have at least 12 months’ history in that current line of work and have not had any breaks in employment. What’s the issue with ‘temp’ contracts and mortgages? Most lenders don’t like short term contracts because they suggest the applicant’s income isn’t guaranteed for any significant period of time.If you’re on a temporary contr...

Adding partners or spouses onto an existing mortgage

If you and your partner have been living together, there may come a point where you want to put your partners name onto the mortgage alongside yours.If your partner is helping to pay off the mortgage or contributing to the bills, and especially where children are involved, it can be a sensible move to get them added to the property deeds and the mortgage. However, it’s not just a case of changing the names on the mortgage with your lender....

Do payday loans affect getting a mortgage?

Payday loans won’t directly affect your mortgage or remortgage application, but if you’ve taken one out in the last six years, then lenders may become warier of you and this could lead towards your mortgage application being rejected.Here’s how it works… The effect of a payday loan on your credit rating Evidence of your payday loan will stay on your credit file for six years, which is one reason why the Financial Conduct Authority (FCA) has cal...

Divorce and Mortgages

If you are going through a divorce one of the most important steps is sorting out the finances. It is often the case that one of the main parts of the settlement is who will get to keep the house.So how is that decision reached? What happens with the remaining mortgage payments? And once it has been determined by all parties involved and that reconciliation is irretrievable, what happens to the mortgage? Who is liable for the mortgage? If you ...

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