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Latest figures from LMS show that the number of people remortgaging their property have reached an eight year high.Read more →
According to latest figures from LMS, 83% of people looking to remortgage now consult a mortgage broker. This is up from 70% in 2017*.Read more →
Despite some predicting a rise this month, the Bank of England has announced that interest rates have frozen at 0.5%*. Many homeowners may be wondering what this means for mortgage rates and whether now would be a prudent time to fix their rate. Adam Nanson from Your Mortgage Expert comments below:
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According to the NAEA Propertymark, over the past five years, British homeowners have spent £41bn on home improvements.
The research from NAEA Propertymark also found that 1 in 10 homeowners carried out improvements because the cost of moving was too high. And, a quarter thought that home improvements would be a good investment and increase the value of their property*.Read more →
According to LMS, many home owners have moved to fix their mortgage rate ahead of an interest rate raise that is anticipated to happen in May. Fixed rate deals are proving popular as home owners look to protect their monthly repayments by locking into a new deal.Read more →
Latest research by consumer data company, CACI shows that there are a large number of deals coming to the end of their fixed term this Autumn. And this means that, over the next couple of months, they are predicting a “remortgage frenzy”. This was reported on the Your Mortgage website.Read more →
According to Citizens Advice, being loyal to your mortgage provider could cost you over £400 a year. The charity found that, those who didn’t switch mortgage provider and stayed on their current lender’s standard variable rate faced an average loyalty penalty of £439 a year*.
Their research also found that, First Time Buyers, who typically have more debt and more time left on their mortgage, paid an extra £1,359 a year when their fixed deals expired.Read more →
Latest data from Moneyfacts shows that two-year mortgage rates have hit record lows. Driven by the increasing competition amongst lenders, the data shows that the average two-year fixed rate has fallen from 2.55% to 2.26% during the last year*.Read more →
Latest research by the Moneyfacts UK Mortgage Trends Treasury Report* shows that borrowers could save £2,000 a year by remortgaging to a new deal rather than reverting to the Standard Variable Rate. Their figures show that the average cost of a two year fixed rate mortgage currently stands at 2.3% compared to the average Standard Variable Rate of 4.59%.Read more →
According to latest figures by L&C Mortgages, many homeowners could be paying too much on their mortgage because they are not on the most suitable deal for them. In fact, their research shows that, by switching a mortgage deal, people could save over £2,500 a year.
The research found that four million homeowners were on the standard variable rate which can be a more expensive rate to be on. This was reported on the What Mortgage Website during March*.Read more →
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