Anna Harvey - My Simple Mortgage

04/11/2021

The Bank of England today announced that they WON'T be increasing their interest rates. They are going to stay at record lows - just 0.1%.

But what does this mean for you?

Well, had interest rates risen today, the reality is that three quarters (75%) of all people who have a mortgage are on a fixed rate wouldn't have seen any change. This is because the rate they're paying is fixed until a certain date in the future.

Likewise, if you have a variable rate, or a "tracker" (a rate that literally tracks the Bank of England's base rate) then had it gone up, you would see an immediate change in your monthly payment.

As is stands today, no-one's mortgage payments will change. However this probably won't stay like this for long. It's expected that the Bank of England will increase their rate soon, and this will affect those on tracker and variable rates, and could mean that those on fixed rates will face higher payments when their fixed rate deal eventually comes to an end.

Speak to one of our experts today to see how this could affect you

0345 094 1567
www.mysimplemortgage.co.uk

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Powered by the unique tech expertise of Legal & General, our new affordability calculator means it's never been easier to find the right mortgage deal.

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How to increase the amount you can borrow It won’t surprise you to know that perhaps the most common question me and the team are asked is “how much can I borrow?” Which makes sense. After all, it’s hard to go house hunting if you don’t know how much you can spend. We’re doing lots of ex...

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Can things get any better?

We think so!

Read director James' blog on being "better"

https://www.mysimplemortgage.co.uk/2021/04/13/better-than-yesterday/

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Mortgage guarantee scheme – 5% deposits for home buyers. Mortgage guarantee scheme – 5% deposits for home buyers. During the Spring Budget, Chancellor Rishi Sunak stated that the Government is introducing a mortgage guarantee scheme to help first time buyers and existing homeowners. For many, it...

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Have you heard about the new Government Mortgage Guarantee? Could this help you get into the house of your dreams?

Speak to our expert mortgage advisers TODAY to find out how we can help

0345 094 1567
[email protected]

03/03/2021

March 2021 Budget Budget 2021 UK Government Announcement As your mortgage adviser, we thought it may be of interest to see the latest announcements made as part of the UK Government Budget 2021, announced today by Chancellor Rishi Sunak. New Mortgage Guarantee scheme A new mortgage guarantee scheme....