It has been officially announced by the mayor of London, Sadiq Khan, that his office is developing a blueprint for rent controls in the capital, citing Berlin and New York City as major cities where rent controls are successful. Khan says: “The arguments for rent control are overwhelming, and Londoners overwhelmingly want it to happen. […]
With rates starting at just 2.45% with £1,000 cashback bonus on completion, no product fee and a free standard property valuation, Santander Mortgages has launched three residential mortgages. These new deals all have a minimum loan size of £75,000. There’s a 2.45% rate at 85% LTV, 2.65% at 90% LTV and 3.60% at 95%. “With […]
If they don’t act as deals come to an end, borrowers who fixed mortgages two years ago could see rates more than double. That means that borrowers with a £200,000 mortgage over 25 years on a repayment-only basis could see repayments increasing by £279 a month – or £3,352.08 a year on average. This is […]
July 2018 was the strongest in homeowner remortgages in a decade. However, figures from the Bank of England released yesterday, however, show that remortgaging as a proportion of new lending fell by 2.0 per cent on a quarterly basis. With regard to first-time buyer activity, annual growth was up by 1 per cent, with 31,400 […]
Historical interest rates Historical antecedents Interest rates were very stable in the UK during the 18th century, staying put at between 4 and 5 per cent. Moving into the 19th century, there was more volatility, with interest rates shifting between 4 and 10 per cent. The first half of the 20th century was a similar […]
According to the latest data by Experian, there has been a sharp increase in the number of consumers looking at tracker rate mortgages.. Experian’s credit search barometer shows almost half (46.8 per cent) of mortgage searches in MAY were for details of tracker rates and deals, according to their credit search barometer. This is significant […]
According to data from Moneyfacts, mortgage costs have hardly moved in the month since the Bank of England raised its base rate, and interest costs are almost exactly where they were 12 months ago, For the first time in more than a decade, in November from Mark Carney and his colleagues at the Bank hiked […]
According to analysis from Habito. if you remortgage today to a fixed rate product before December their monthly mortgage payment could effectively make Christmas day free for borrowers on a Standard Variable Rate (SVR), they have estimated that Christmas costs an average of £812 per family, and the average customer who carries out a remortgage […]
The first base rate increase in 10 years. The Bank of England announced that it would be increasing the base rate to 0.5%, after a vote of 7-2 in favour of a rate rise. This decision follows much speculation amongst market commentators of a rate rise, after Mark Carney commented, in October, that the majority […]
Income-supported buy-to-let mortgages and remortgages will be launched next week. This lets customers with excess income bridge the gap between the rent they need and the rent they would earn. The new product will be designed to let brokers help customers who would otherwise struggle with prime lenders’ lending policies for buy to let mortgages […]
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