One mortgage provider predicts that house prices might climb dramatically next year since declining interest rates will increase buyers' borrowing capacity. Based on latest data from the Office for National Statistics, MPowered Mortgages projects a significant...
NatWest Increases Rates, Surpassing a Key Benchmark
The news arrives as average rates for two- and five-year mortgages begin to rise. For the first time in three months, the average rates for the two most popular loan terms have gone up. The average rate for a two-year mortgage increased from 5.36% to 5.37% since last...
Mortgage Update: Changes at Halifax and Lloyds – A Warning from Money Saving Expert
Several major banks have recently updated their mortgage policies. Martin Lewis’s Money Saving Expert team has highlighted a crucial change for Halifax and Lloyds borrowers. These banks now allow customers to lock in a new mortgage rate only four months before their...
Mortgage Rate Cuts Signal a New Era for Borrowers
This week, major lenders like NatWest, HSBC, and Barclays have lowered their mortgage rates, with Coventry Building Society and Halifax joining in with similar reductions. Halifax also announced increased borrowing limits for first-time buyers. These rate cuts are...
Remortgage Activity Jumps 20% in July – LMS Reports
In July, the number of completed remortgages surged by 20% compared to June, with nearly half of borrowers opting for a five-year fixed rate, according to the latest LMS Monthly Remortgage Snapshot. The report showed that the five-year fixed rate emerged as the top...
Mortgage Market ‘Robust’ Ahead of Bank of England Interest-Rate Decision
Financial markets have factored in a 60% probability of a mortgage interest rate cut on Thursday, with industry leaders optimistic that lower borrowing costs could stimulate home sales. According to the Bank of England, the UK saw a “broadly stable” number of mortgage...
Mortgage Price War Continues as TSB, Santander, and Other Lenders Slash Rates
Experts think cuts could accelerate if inflation statistics this week are lower than projected. Multiple mortgage lenders, including Santander and TSB, are dropping rates again as price cuts continue. Starting today, Santander is lowering fixed rates by up to 0.14...
Mortgage of a First-Time Buyer Reaches £1,000 Per Month as House Prices and Rates Rise
The average monthly payment has increased by 61% since 2019, prompting borrowers to choose for smaller properties or longer loan periods. Since the last general election, the monthly mortgage cost for first-time buyers has increased by more than 60%, now over £1,000...