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 […]
Buy-To-Let rates lowest since September 2022
It’s good news for landlords or customers looking to dip their feet into the buy-to-let world this year. The fixed rate for buy to lets has fallen to it’s lowest since September 2022 on average! What does this mean for future buy-to-let mortgages? Well, it offers consumers more choice of product, availability is currently up […]
January update – a positive start to 2024
January has proved itself to be a rather positive beginning to 2024 here at The Mortgage Desk. After a very challenging 2023 for home owners and potential buyers this month has given somewhat of a relief to the industry on a whole. Mortgage rates dropping below 5% and a pent-up demand has boosted UK house […]
Mortgage Rate News – December 2023
Below is an update on the mortgage rates for both new and existing borrowers from some of our lenders. Get in touch with us today if you think any of these changes could benefit you and your family. NATWEST Natwest has announced they are cutting their rates for existing customers, both in the residential and […]