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.

Base rate held in split decision

The Bank of England’s Monetary Policy Committee voted to keep interest rates at 0.75% again in November, although two of the nine members voted in favour of a cut. ...

Help for ‘mortgage prisoners’

Thousands of homeowners who’ve previously been barred from moving to cheaper mortgage deals could now be able to switch, thanks to new rules. ...

Is your self-employed paperwork up to date?

There are nearly 5m self-employed workers in the UK but getting a mortgage if you work for yourself can be tricky if you don’t have the right paperwork in place. ...

Sainsbury’s stops mortgage sales

Sainsbury’s Bank has become the latest lender to exit the mortgage market, just six months after Tesco announced that it was pulling out of mortgages. ...

Base rate left on hold in run up to Brexit

The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to leave the base rate unchanged this month, at its last meeting before the UK is due to leave the European Union....

Demand for long-term fixed rate mortgages grows

Homebuyers and owners wanting the security of a long-term fixed rate mortgage now have a much wider range of options to choose from following the launch of several new 15-year deals. ...

Homeowners could save thousands by overpaying

Over half of homeowners never overpay on their mortgage, even though doing so could potentially save them thousands in interest and reduce their mortgage term. ...

Tesco Bank mortgage customers to move to Halifax

Lloyds Bank has agreed a deal to buy Tesco Bank’s mortgage book, in a takeover which will see more than 23,000 residential mortgage customers moved over to Lloyds’ Halifax division. ...

Uncertainty causes mortgage market slowdown

First-time buyer and homemover mortgage numbers dropped slightly in June, with many people putting their plans on hold due to current political and economic uncertainty. ...

Interest rates unchanged in August

The Bank of England’s Monetary Policy Committee (MPC) voted unanimously to keep the base rate at 0.75% in August amid ongoing Brexit uncertainty. ...

Plan your remortgage now to cut costs

More than £26 billion worth of mortgage deals will come to an end in October, according to research by Yorkshire Building Society, the largest monthly amount of mortgages maturing this year. ...

Are you improving rather than moving?

May saw a sharp increase in the number of people remortgaging and borrowing extra funds, suggesting that many are choosing to improve their homes rather than move. ...

Can you get a mortgage if you work for yourself?

Despite recent reports that self-employed people often believe they’d struggle to get a mortgage, being your own boss won’t necessarily make it harder to get on the property ladder. ...

Longer term mortgages on the rise

More than 28,000 mortgages running for 35 years or more were approved in 2017, according to data from the Financial Conduct Authority, with a growing number of lenders now offering terms of up to 40 years. ...

What the papers said about home improvements and school fees

Recent UK Finance figures revealed a significant increase in the number of people ‘staying put’ and remortgaging to release money from their property, many of whom are using the funds to carry out home improvements including extensions. ...

Base rate kept on hold in June

The Bank of England’s Monetary Policy Committee voted to keep interest rates on hold at 0.75% earlier this month, with ongoing Brexit uncertainty continuing to hamper economic growth. ...

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 for 2019?

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. ...

New Help to Buy mortgages launched

Growing numbers of lenders are launching Help to Buy mortgages, increasing the options available to buyers of new build properties. ...

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 for 2018?

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. ...

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