Open Financial Services Ltd

Open Financial Services Ltd Mortgages, Protection, Insurance, Wills Financial Advice

01/06/2026

๐Ÿ  Thinking about buying your first home but not sure you can afford it? You might be closer than you realise!

๐Ÿ” New research shows that half of first-time buyers don't know their borrowing power has actually improved over the past year โ€” and some could access up to ยฃ40,000 more than they could 12 months ago.

๐Ÿ˜ฎ On top of that, 73% of renters don't even know that 5% deposit mortgages exist. That means many people are putting off buying a home based on information that's simply out of date.

โณ The average first-time buyer spends over 6 years saving for a deposit โ€” but the market has changed!

๐Ÿ’ก If your monthly mortgage repayment could be similar to what you're already paying in rent, would you consider making the move?

๐Ÿ‘‹ At Open Financial Services Ltd. (https://openfs.co.uk/), we help you cut through the confusion and find out what's actually available to you โ€” no jargon, no pressure.

๐Ÿ—“๏ธ It might be worth having a conversation sooner than you think! Drop us a message ๐Ÿ’ฌ
๐Ÿ“Ž Source: https://www.mortgagestrategy.co.uk/news/half-of-ftbs-unaware-they-could-borrow-up-to-40k-more-mab/

๐†๐จ๐จ๐ ๐ง๐ž๐ฐ๐ฌ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ ๐ก๐š๐ฏ๐ž ๐š ๐ฆ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐จ๐ซ ๐ฒ๐จ๐ฎ'๐ซ๐ž ๐ญ๐ก๐ข๐ง๐ค๐ข๐ง๐  ๐š๐›๐จ๐ฎ๐ญ ๐›๐ฎ๐ฒ๐ข๐ง๐ ! ๐ŸกBanks like Santander, Halifax and Barclays have just ...
27/05/2026

๐†๐จ๐จ๐ ๐ง๐ž๐ฐ๐ฌ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ ๐ก๐š๐ฏ๐ž ๐š ๐ฆ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐จ๐ซ ๐ฒ๐จ๐ฎ'๐ซ๐ž ๐ญ๐ก๐ข๐ง๐ค๐ข๐ง๐  ๐š๐›๐จ๐ฎ๐ญ ๐›๐ฎ๐ฒ๐ข๐ง๐ ! ๐Ÿก

Banks like Santander, Halifax and Barclays have just ๐œ๐ฎ๐ญ ๐ญ๐ก๐ž๐ข๐ซ ๐ซ๐š๐ญ๐ž๐ฌ ๐š๐ ๐š๐ข๐ง. That means cheaper monthly repayments could be on the table right now. ๐Ÿ“‰๐Ÿ’ฐ

But here's what the experts are saying: ๐๐จ๐ง'๐ญ ๐ฐ๐š๐ข๐ญ ๐š๐ซ๐จ๐ฎ๐ง๐ expecting rates to keep falling dramatically. โš ๏ธ The market is still shaky and inflation hasn't gone away, global tensions are still in the picture, and some lenders are actually raising certain rates at the same time others are cutting. It's a mixed picture out there. ๐ŸŒ๐Ÿ“Š

The average 2-year fixed rate is currently around 5.73% - down from a peak of nearly 5.89% earlier this year, but still well above where we started 2026. Most brokers believe rates may nudge a little lower, but nobody's expecting a dramatic drop anytime soon. ๐Ÿคท

So what should you do? โœ… Experts say: don't try to perfectly time the market. Instead, look at securing a good deal now - many lenders let you lock in a rate up to 6 months before your current deal ends, and you can often switch to a better one later if things improve. ๐Ÿ”’โณ

At ๐Ž๐ฉ๐ž๐ง ๐…๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ ๐‹๐ญ๐. ๐Ÿ‘‰ we help you cut through the noise and find what actually works for your situation - no jargon, no pressure. ๐Ÿค

๐Ÿ“Œ Source: inews.co.uk

๐Ÿ”ดBig news for anyone living in council housing in the UK! ๐Ÿ The government has just announced major changes to the Right ...
26/05/2026

๐Ÿ”ดBig news for anyone living in council housing in the UK! ๐Ÿ 

The government has just announced major changes to the Right to Buy scheme โ€” the programme that lets council tenants purchase the home they live in, at a discounted price.

Here's what's changing, in plain English:

โณ You'll need to wait longer โ€” instead of 3 years, you'll now have to live in your council home for 10 years before you can apply to buy it.

๐Ÿ’ฐ The discount gets smaller โ€” you'll start with just a 5% discount on the home's value, going up by 1% each year, with a maximum of 15%. That's a big drop from the generous discounts available before.

๐Ÿ—๏ธ New social homes are protected โ€” any newly built social housing won't be available to buy under Right to Buy for 35 years after it's built.

These changes aim to slow down the loss of social housing stock, which has been a growing concern for years.
Thinking about what this means for your finances or housing plans? Our friends at Open Financial Services Ltd. (openfs.co.uk) can help you understand your options and plan your next steps.

๐Ÿ“Ž Source: https://www.property118.com/government-sets-out-reforms-to-right-to-buy/

๐Ÿ”ดBuying your first home can feel overwhelming โ€” but it doesn't have to be. I'm here to guide you through every step, fro...
20/05/2026

๐Ÿ”ดBuying your first home can feel overwhelming โ€” but it doesn't have to be.
I'm here to guide you through every step, from finding the right mortgage to getting the keys in your hand.

With just a ยฃ5,000 deposit and Halifax's Low Deposit scheme, we can make it happen โ€” sooner than you think. All income types welcome, including self-employed and non-UK nationals.

Ready to take the first step? Let's talk. โ˜Ž๏ธ ๐Ÿ‘‡
www.openfs.co.uk

Your house can be repossessed if you fail to keep up with your mortgage payments.

๐Ÿ”ดIf saving for a house deposit feels impossible - you're not alone. ๐ŸกLloyds Banking Group has just announced a mortgage ...
12/05/2026

๐Ÿ”ดIf saving for a house deposit feels impossible - you're not alone. ๐Ÿก

Lloyds Banking Group has just announced a mortgage where first-time buyers only need ยฃ5,000 as a deposit. That's it. No need to save up ยฃ15,000 or more like with a standard mortgage.

From 18 May 2026, the deal is available through Lloyds, Halifax and Bank of Scotland on homes worth up to ยฃ300,000. The interest rate is fixed at 5.89% for 5 years - meaning your monthly payment won't change and there's no arrangement fee.

Both employed and self-employed people can apply, as long as at least one person on the application is buying their first home.

Experts are calling this a significant moment. Industry commentators point out that high rents already make it hard to save even a 5% deposit, and not everyone has family who can help. Products like this could genuinely speed up the journey to home ownership for many people.

A word of caution though - the mortgage won't suit everyone. The ยฃ300,000 property cap means it may not work in London or the South East, and a smaller deposit does mean slightly more risk if house prices drop.

At Open Financial Services Ltd. (https://openfs.co.uk/) we help you make sense of options like this โ€” in plain English, no jargon. Reach out if you'd like to know whether this could work for you.

๐Ÿ“Ž Source: Mortgage Finance Gazette, 12 May 2026 โ€” https://www.mortgagefinancegazette.com/lending-news/lloyds-banking-group-launches-5k-deposit-ftb-mortgage-12-05-2026/

๐Ÿ”ดThe Bank of England just decided to keep interest rates at 3.75%, and that's the third time in a row with no change. Bu...
09/05/2026

๐Ÿ”ดThe Bank of England just decided to keep interest rates at 3.75%, and that's the third time in a row with no change. But here's the catch: the Bank itself is warning that higher inflation is now unavoidable.

Why? The conflict in the Middle East is pushing energy prices up sharply. What does that mean for your everyday life? Typical energy bills are expected to rise 16% to around ยฃ1,900 by summer, and food prices could go up by 7% by the end of the year, hitting your weekly shop and your heating costs at the same time.

The Bank's governor, Andrew Bailey, called it "a deliberately, active hold" - meaning they're watching carefully. In the worst-case scenario, inflation could peak at 6% by early 2027. For now, your mortgage rate stays put. But a rate hike may be on the horizon.

Unsure how all of this affects your finances? Open Financial Services Ltd. (https://openfs.co.uk/) is here to help you navigate uncertain times with clear, straightforward advice.

๐Ÿ“ฐ Source: The Guardian โ€” theguardian.com/business/2026/apr/30/bank-of-england-leaves-interest-rates-on-hold

๐Ÿ”ดThe Bank of England has decided to keep interest rates at 3.75% - the lowest level in three years. But don't be fooled ...
06/05/2026

๐Ÿ”ดThe Bank of England has decided to keep interest rates at 3.75% - the lowest level in three years. But don't be fooled into thinking nothing's changing. Here's what it actually means for your pocket:

๐Ÿ  Mortgage? If you're on a tracker deal, your payments stay the same for now. But nearly 2 million homeowners need to renew their deals in 2026, and thanks to the war in Iran pushing up market expectations, many lenders have already made their rates more expensive. Shop around before you sign anything.

๐Ÿ’ฐ Savings? You can still earn over 4% on easy-access accounts, which is actually beating inflation (currently at 3.3%). But rates aren't guaranteed to stay there. If you want certainty, consider locking money in for a fixed term. Also, don't forget your cash ISA allowance of ยฃ20,000 (it drops to ยฃ12,000 from next April!).

โšก Bills? Energy costs are heading up this summer when the next price cap kicks in a direct result of rising oil and gas prices caused by the conflict in Iran.

๐Ÿ’ฌ Not sure what move to make next? Open Financial Services Ltd (openfs.co.uk) can help you review your mortgage, savings or financial plan, in plain English, no jargon.

๐Ÿ“Ž Source: The Independent, 30 April 2026 - https://www.independent.co.uk/money/interest-rates-uk-mortgage-savings-bills-inflation-b2968053.html

๐Ÿ”ดIf you have a mortgage or you're thinking about getting one- here's something worth knowing.Santander has just become t...
04/05/2026

๐Ÿ”ดIf you have a mortgage or you're thinking about getting one- here's something worth knowing.

Santander has just become the first major UK lender to cut mortgage rates since the war in the Middle East pushed them up sharply in March. Rates had climbed above 5%, largely because rising oil prices (past $100 a barrel!) spooked financial markets and made borrowing more expensive almost overnight.

Now, with a ceasefire announcement bringing some calm, Santander is cutting rates by up to 0.3% on selected deals - and experts say other banks are likely to follow.

Is this the moment to act? Possibly. Specialists are advising borrowers to lock in a deal now, while rates are moving down - with the option to renegotiate later if they fall further.

At Open Financial Services Ltd. (openfs.co.uk), we help everyday people make sense of exactly these kinds of changes โ€” so you never have to figure it out alone.

๐Ÿ“Œ Source: The Times / The Independent via Yahoo Finance

Great energy today at The Buy To Let Event in Bolton, expertly organised by Mortgage Solutions!Itโ€™s always valuable to c...
30/04/2026

Great energy today at The Buy To Let Event in Bolton, expertly organised by Mortgage Solutions!

Itโ€™s always valuable to connect with fellow professionals Sylwia Mortgage & Protection Adviser Blazej Wegrzyn Ewelina Dziuba, landlords, and investors who are navigating the ever-evolving buy-to-let landscape. From insightful discussions on market trends to practical strategies for portfolio growth, events like this remind us how important it is to stay informed and adaptable.

At Open Financial Services Ltd , weโ€™re committed to helping our clients make confident, well-structured investment decisionsโ€”especially in a market that continues to shift.

If youโ€™re considering expanding your property portfolio or stepping into buy-to-let for the first time, feel free to reach out. Weโ€™re here to support you every step of the way.

30/04/2026

The Bank of Englandโ€™s Monetary Policy Committee (MPC) has voted to hold the base rate at 3.75%.

Address

Accrington

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 5pm

Telephone

+441254351708

Website

Alerts

Be the first to know and let us send you an email when Open Financial Services Ltd posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Open Financial Services Ltd:

Shortcuts

Share

Category