Mortgage
Mortgage Pressures Linked To Increasing Mental Health Issues
In light of the US subprime mortgage market crash of 2008/9, UK base rates fell to historic lows before beginning a relatively steep upturn and (hopefully) peaking at 5.25%. Consequently, the last 15 years have seen rates that do not reflect historical averages. To put this into perspective, between 1971 and 2023, UK base rates […]
Posted in Mortgage
Baby Boomer Generation: The Pros and Cons of Equity Release
While potentially struggling to cover general living expenses, many of the so-called baby boomers may have paid off their mortgage and find themselves sitting on a relatively valuable asset, their home. Consequently, there has been growing interest in equity release, but there are several pros and cons to consider before taking action. Two types […]
Posted in Financial Planning, Mortgage
What Are The Main Factors Which Will Impact House Prices In 2024?
The fact there is no real consensus on forecast house price movements in 2024 reflects the uncertain outlook for the UK. The Office for Budget Responsibility (OBR) believes UK house prices will fall by 4.7% in 2024. Interestingly, Savill’s is forecasting a fall of 3% across the UK and 4% in London, broadly in line […]
Posted in Financial Planning, Investments, Mortgage
How Long Should You Fix Your Mortgage Rate?
The UK has one of the more developed mortgage markets, providing a wide range of options, whether acquiring your first home or looking to refinance an existing mortgage. When it comes to the duration of your mortgage, it often comes down to one factor, the level of certainty you require and the amount of risk […]
Posted in Mortgage
Is Now The Right Time To Remortgage?
In reality, the only certainty with regards to interest rates and mortgage rates are the rates today, everything else is just conjecture. Looking back at December 2021, when interest rates began to rise from a historic low of 0.1%, who could have forecast such a meteoric rise? The decision not to increase rates in September […]
Posted in Mortgage
How Can The Mortgage Charter Help You?
It is easy to forget that UK base rates were 0.1% between March 2020 and December 2021, allowing many people to refinance their mortgages at historic low rates. Fast forward to August 2023, and the base rate now stands at 5.25%, with mortgage rates having jumped dramatically since December 2021. In conjunction with the cost […]
Posted in Mortgage
Private Landlords are Turning More Positive on the Rental Market
Even though UK base rates continue to rise, with many suggesting a short-term peak of 5.5%, private landlords are turning more positive on the rental market. While the cost of buy-to-let finance is increasing, in line with the general mortgage market, other issues are impacting demand for rental property. Amid a challenging property market, seeing […]
Posted in Mortgage
5 Options when Renewing your Mortgage
Research by UK Finance shows about 800,000 fixed-rate mortgages are due for expiry before the end of 2023 and a further 1.6 million by the end of 2024. Many homeowners will face an increase in comparable fixed-rate terms as UK base rates have risen from just 0.1% in November 2021 to the current rate of […]
Posted in Mortgage
Ways to Release Equity in Retirement
There is fear and concern in equal measures, with many people struggling to make ends meet as inflation pushes the cost of living higher. This is most acute amongst those facing retirement and limited income, even though many have a home without a mortgage. Forced to consider alternatives, more people are now looking to release […]
Posted in Mortgage
A Mortgage Dilemma for First-Time Buyers
There is uncertainty regarding interest rate and inflation which has led to a range of different forecasts for the UK housing market in the short to medium-term. This has placed first-time buyers in a challenging situation, looking to benefit from falling house prices but uncertain about the type of mortgage to consider. While important to […]
Posted in Mortgage