News & Insights - Fixed rate

Yorkshire Building Society has launched a range of new two and five-year fixed rate mortgage deals aimed only at first-time buyers with a Help to Buy ISA.

Saving for a deposit is often the biggest challenge first-time buyers face but increasing numbers of lenders are introducing new mortgage deals which only require a 5% deposit.

The Sunday Telegraph reported this weekend on the narrowing gap between 2 and 10 year fixed rates, as lenders compete to attract borrowers looking for longer term peace of mind.

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.

The Times reported this weekend that the supply of high Loan-to-Value (LTV) mortgages could be under threat, after the Bank of England’s Financial Policy Committee (FPC) suggested plans to crack down on the riskier end of the market.

The Bank’s Monetary Policy Committee (MPC), which decides whether rates should move, voted by seven to two to keep the base rate at 0.50%.

Interest rates were kept on hold in February, but the Bank of England warned that rates could rise “somewhat earlier and by a somewhat greater extent” than previously forecast.

Property prices in many regions of the UK proved resilient in 2017, despite ongoing Brexit uncertainty and slow economic growth, but where do experts think they will go this year?

The Guardian was keen to highlight that home insurance providers are still taking advantage of loyal customers by charging them more than new customers.

Much of the focus since the base rate rise last week has been on what impact the increase has on homeowners. However, the rate rise also has implications for landlords, many of whom have already had to adapt to several other changes this year.

With rates edging up over the last few weeks, the Times looked this weekend at what borrowers can do to secure a competitive deal while they are still available.

As expected, this weekend’s financial news focused largely on the first increase in the Bank of England base rate for more than 10 years.

The Bank of England has raised the base rate for the first time in more than a decade, meaning higher mortgage costs for millions of homeowners on variable rate deals.

Several lenders have increased their fixed rates over the last couple of weeks, so anyone hoping to secure one of the best deals should act fast while they are still available.

This weekend's financial press urged readers to grap a cheap fixed rate deal before they're gone. At least 10 lenders have already raised mortgage rates this month.

There was one main talking point in this weekend’s financial press – the rumble of an approaching base rate rise.

Predictions for an imminent rise in interest rates continued this weekend, with the Times and Sunday Times warning homeowners sitting on their lender’s Standard Variable Rate not to hold off any longer.

Interest rates were held at 0.25% again this month, but the Governor of the Bank of England warned that rates could increase “over the coming months.”

Mortgage lending reached £22.1 billion in June, up 9% on the previous month, but the challenging economic situation could dampen activity going forward.

Rising living costs combined with falling earnings are placing mounting pressure on household budgets, making it more important than ever to look at ways to reduce monthly outgoings.

Over 1.4m people are struggling to pay their mortgages, but there are plenty of steps borrowers can take to help make their monthly payments more manageable.

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.

There was only one mortgage story on the lips of the financial press this weekend, and that was the 5-year fixed rate ‘mortgage war’.

Following the recent release of a new sub-1% fixed rate, the weekend’s financial press heralded a new mortgage price war, with the Daily Mail urging borrowers to act now and take advantage while they still can.

As we enter the peak buying season, the Sunday Express looked at traditional and online estate agents,