Santander reduce mortgage affordability rates by up to 0.75%
Great news for borrowers or remortgages today as Santander has become the first of the large UK lenders to reduce their affordability rates. Rates across all residential mortgages with Santander are reduced by up to 0.75%, their lowest rate since 2022. What does this mean for customers? This news means that borrowers as of today […]
A closer look at the stamp duty changes coming into effect April 2025
As we mentioned in our previous post the stamp duty break introduced in 2022 is coming to an end this April. We have received a number of queries asking who this will affect and how we can help so below is some more in depth information about the changes that are coming: The changes will […]
2025 – January News
Happy New Year! After a cold spell both with our weather here in the UK and the economic uncertainty we are here to share the financial news from this month so far on our journal. Let’s start with the well followed mortgage rates which continue to fall week on week despite the economic uncertainty. There […]
The ‘New Normal’ of mortgage rates
The head of the UK’s largest home loan company, Lloyds Banking Group has been discussing the future of the mortgage market in the UK. The banking group who own a number of giants in the mortgage lending field such as Halifax and Birmingham Midshires has stated that rates of 3.5% and 4.5% will become the […]
What to do if you are struggling with your mortgage payments?
Things are beginning to show signs of positive change for home owners and buyers with the cost of new mortgages coming down and starting to show signs of mild recovery. However, we aren’t out of the woods just yet as the cost of living crisis and higher interest rates are still putting a strain on […]
UK house prices seeing a shock rise in May
May has brought a surprise rise in house prices to the UK market of 0.4% according to Nationwide in a shock boost for sellers and lenders alike. This rise is caused by a combination of lower inflation and wage growth. The rise of 0.4% reverses the effects of a drop of 0.4% in April. The […]
General Election called for by Rishi Sunak
Wednesdays inflation figures have triggered Prime Minister Rishi Sunak to call a snap general election for July, in a surprising move for some. The UK inflation rate is at it’s lowest level for almost 3 years meaning it is back to more normal levels, something not unexpected but it does seem to have happened slightly […]
Average 5 year fixed mortgage rates are rising again
The average rate on five fixed mortgages has surpassed 5% for the first time in months. The rate now matches that of January and is higher than at the same time last year when the rate was 4.56%. This means that the average monthly mortgage payment for first time buyers in the UK is 85% […]
£5000 deposit scheme launched to help first time buyers
The mortgage was launched by Accord which is owned by Yorkshire Building Society is aimed at helping first-time buyers who can afford the monthly repayments but are struggling to get a deposit together and is vaild on houses upto £500,000. The £5000 deposit mortgage has a 5 year fixed rate of 5.99% which is slightly […]
How does the bank of England interest rate freeze help you?
On February 1st the bank of England made a decision to freeze interest rates at 5.25% for the fourth time in a row. This has been seen as a positive by many however some in the industry are calling for a cut in the rate to help ease the effects of inflation on real families […]