Mortgage costs reach two-year high as lenders predict rise in UK base rate

The average homeowner with a typical loan of £175,000 is now paying £44 per month more than this time last year The average two-year fixed mortgage rate has now hit 2.5%, the highest level since July 2016. Rates on the most popular mortgage deals have reached their highest levels in two years as providers increase [...]

Mortgage market getting better for first time buyers in the UK

There has been a significant rise in the number of first time buyer mortgage applications via intermediaries being approved in the UK as access to home lending improved for this sector. The latest mortgage market tracer from the Intermediary Mortgage Lenders Association (IMLA) shows that 74% of first time buyers’ mortgage applications resulted in a [...]

‘We can pay but no one would lend us enough’: Locked out of a mortgage? Here’s how to make sure the computer says YES!

Mortgages may currently be cheap, but it will not be long before rates start climbing. While this spells bad news for many homeowners, it represents a double whammy for those borrowers who do not meet standard lending criteria. Not only will they find it hard to get a mortgage, but they will probably pay more [...]

Up to 1.7million people with interest-only mortgages could lose their homes if they do not find a way to clear debts

It is a concern for those who took out interest-only mortgages in the lending boom They now have no way of paying back the debts they owe when their home loan ends As many as 1.7 million homeowners with interest-only mortgages have been advised they risk losing their homes if they do not find a [...]

How homeowners can put £4,000 back in their wallet this year

Switching your mortgage could save you a large amount of money With many people resolving to manage their money better in 2018, it is no surprise that January is the most popular month of the year for switching a mortgage. For the two million homeowners currently on a standard variable rate (SVR), opting for the [...]

Buying a home is cheaper than renting for most

According to a recent study by Zoopla, it is cheaper to buy a property than to rent, unless you live in the capital. The study of 50 cities in the UK revealed that in 49 of them it was cheaper to buy than rent a home, saving an average of £1,600 per annum. However, London [...]

New mortgage lending in UK hits highest level since 2008

Boom driven by customers remortgaging homes to lock-in cheap deals as proportion lent to first-time buyers drops British households are taking on the highest levels of new mortgage debt since the beginning of 2008, spurred by low interest rates from the Bank of England, even as the ratio of first-time buyers dwindles. Banks lent new [...]

How to stay on top of mortgage debt as balances reach all-time high

British homeowners now have the greatest level of mortgage debt per household on record, due to continued house price growth and longer mortgage terms. The average outstanding mortgage stood at an eye-watering £121,678 in August, according to the October Money Statistics, produced by The Money Charity. This is the first time the average balance has [...]

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