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09/11/2019

Fix your mortgage for longer - lenders cut five-year fixed-rates to historic lows 🔄

While the average five-year fix currently sits at 2.60 per cent, those with bigger deposits have access to several five-year fixes below 1.50 per cent for the first time in years.

07/11/2019

Base rate maintained as speculation for cut grows 🔄

The minority of two suggests a move in base rate may be on the horizon, as the decision to keep the rate at 0.75 per cent was unanimous in September. In its last meeting which was held before the UK was expected to leave the EU, the Monetary Policy Committee (MPC) said it expected rates to be kep....

28/10/2019

FCA confirms new affordability rules for mortgage prisoners 🔄

The FCA has confirmed the implementation of a modified affordability assessment for mortgage prisoners, the consultation for which was published in March this year, with immediate effect. Lenders will be able to execute a modified, more proportional, affordability assessment provided the customer me...

06/10/2019

Interest rates could fall in ‘smooth’ Brexit 🔄

The Bank of England is set to adopt a more dovish stance on interest rates even if, as expected, the UK avoids a no-deal departure from the EU on October 31. Officials are working on the Bank’s...

19/09/2019

Bank rate stays at 0.75% 🔄

The Bank of England’s monetary policy committee has voted unanimously to keep the base rate at 0.75 per cent. The rate has now been at this level for a year, having been raised form 0.50 per cent on 2 August 2019. The bank’s minutes show that 12-month CPI inflation fell in August, from 2.1 per ....

16/09/2019

Five-year fixed rate mortgages double in five years 🔄

The number of five-year fixed rate mortgages products today stands at 1,542, which is almost twice as many as five years ago when there were 796 available.

10/09/2019

Mortgage SVRs remain a ‘major factor’ but many borrowers are not interested 🔄

The intensely deal-driven character of today's mortgage market has shut out conversation about reversion rates, but brokers believe they should still be playing a part in the advice process.

03/09/2019

Tesco borrowers saved from being mortgage prisoners by sale to Lloyds 🔄

The sale follows months of speculation that its customers could be moved to an inactive lender, potentially trapping borrowers on deals they cannot switch away from.

02/09/2019

What will happen to a post-Brexit Bank Rate? 🔄

With all eyes on the ongoing political situation, there are likely to be some key scenarios played out over the coming months, not least how Brexit might impact on the Bank of England’s Monetary Policy Committee’s (MPC) decisions around Bank Base Rate (BBR). During August, the Committee unanimou...

27/08/2019

Competition returns as average fixed rates continue to fall 🔄

The average five-year fixed mortgage rate has fallen from 2.84 per cent to 2.79 per cent in August, while the average two-year fixed has dropped from 2.48 per cent to 2.46 per cent.

18/08/2019

Most borrowers fail to qualify for comparison site mortgage deals 🔄

Fewer than four in 100 people looking for a mortgage are actually eligible for the deals found by comparison websites, research for The Sunday Times shows. Analysis of searches made by 11,000...

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