Shaw Financial Services's Media Coverage
Santander is increasing all fixed-rate mortgages for new customers tomorrow and experts say other lenders will follow. Read this and more in the Money blog, your place for consumer news and the latest...
Don’t stick with the same company just because it is easier — switch and you could save, says George Nixon
Bank of England Base Rate Cut - when will it happen?
Rising mortgage arrears, personal and business failures have sounded alarm bells among brokers, banks and building societies.
The changes will come into effect from tomorrow (21st March 2024).
A number of brokers have expressed frustration on Newspage recently about the state of mortgage underwriting, specifically around lenders suddenly asking for huge amounts of evidence for even the most...
A spokesperson said: “Dr. Mann will continue to hold the post until 31 August 2027.”
For both new and existing residential customer products, selected 2- and 5-year 65% and 75% loan-to-value (LTV) fixed rates will be increased by up to 0.13%.
Across its remortgage products including large loans, Affordable Housing – Shared Equity/ Shared Ownership and equivalent green home products, the lender will be introducing rate increases up to 0.17%...
Brokers say the speed at which rates are being pulled is a ‘joke’ and some customers are missing out on the best deals
In light of labour market data, Newspage asked experts when the Bank of England should cut the base rate — and if a cut may now come sooner.
The value of outstanding mortgage balances in arrears is over 50 percent higher than it was a year ago.
A series of mortgage rate increases among the biggest lenders, including NatWest, Santander, and Halifax, have been announced.
April 2024 Budget key points and how self-employed workers respond to the latest tax cuts and whether they can see a brighter economy ahead
HSBC has announced increases across the whole of its fixed rate range of mortgages, joining Barclays and Natwest.
Some homeowners may be tempted to move to a tracker over expectations that the Bank of England will cut its base rate at some point this year - but is this the right move for you?
Santander has announced it will be increasing interest rates across multiple mortgage products from tomorrow.
This marks a 14% increase from January 2023, and is the highest level seen since the data series started in January 2019.
Borrowers can expect a rate increase of up to 0.10% and 0.20% on selected 2- and 5-year deals.
Brokers hail ‘welcome news’ on inflation but warn developments in US could delay interest rate fall
Brokers hail ‘welcome news’ on inflation figures – but remain cautious about impact on interest rates
Average mortgage rates fell again for the sixth month in a row – but it comes as a major lender made a move to increase its prices.
For new borrowers, the society will be increasing fixed rates at 65% to 85% loan-to-value (LTV) throughout its residential range, along with 5-year fixes at 90% to 95% LTV with fee.
Normal service in the mortgage market has resumed with Nationwide increasing a number of its rates, brokers have said.
Ahead of tomorrow’s CPI data, Newspage asked brokers what could happen to SWAP and mortgage rates if inflation ticks up, and what could happen to rates if inflation surprises to the downside.
Newspage asked brokers for their reaction to this change, especially in light of Santander’s reductions announced earlier today.
April Mortgages, a new Dutch-style mortgage lender has stepped onto the scene, offering fixed mortgages where the rates will automatically reduce as borrowers repay them.
The number of homeowners and buy-to-let landlords in mortgage arrears has jumped in the past year - though the amount of homes being repossessed remains low, according to UK Finance.
The LibDems are calling for a government-backed Mortgage Protection Fund. We asked mortgage experts if this was a viable idea.
First-time buyers keen to escape rising rents may find that a cheeky offer made to a buy-to-let owner may be more than welcome, says George Nixon
The building society, which is the UK’s largest building society and one of the biggest mortgage lenders in Britain, has raised interest rates for homeowners by up to 0.3 per cent.
Its two-year remortgage rate will now start from 4.45 percent with a £1,499 fee, and the five-year equivalent deal will start from 3.94 percent.
Building trust in clients is crucial in overcoming any financial advice wariness, brokers say, but it’s important to spot the timewasters
An additional range of products with better rates and higher fees has also been introduced by the lender.
The lender is set increase selected residential fixed rates for both purchase and remortgage clients – as well as withdrawing all of its first-time buyer fixed rates with £500 cashback.
Global uncertainties have prompted some experts to suggest that higher interest rates may be around for a while yet
The bank is increasing every one of its fixed-rate deals for home-buyers and people who are remortgaging.
Brokers have questioned how the government expects households to cope with increased mortgage costs if minsters themselves are struggling.
The UK’s largest building society has moved to confirm it is introducing a new range of fixed and tracker rate products today (January 23).
HSBC has become the latest lender to cut mortgage prices on Monday ahead of a big week for UK households’ finances amid the Bank of England interest rate decision.
The PM had hoped a better economic outlook and falling rates would provide a boost for autumn election, saying ‘2024 is going to be a better year’
'The January mortgage fire sale is firmly underway' as major lenders Barclays and Santander announce rate reductions, according to EHF Mortgages managing director, Justin Moy.
The mortgage market may see “sub 3 per cent rates” by the end of the year, according to some brokers.
The impact of the Red Sea crisis on energy costs may send prices back up causing a potential headache for the Bank of England.
Lewis Shaw, owner of Shaw Financial Services, said there is every possibility the Red Sea crisis could see the price of such goods increase.
Sir Howard Davies later said he ‘did not intend to underplay the serious challenges’ facing people when buying a home.
Bold interior trends, falling borrowing costs and new opportunities for first-time buyers will bring colour and life back into the property market in 2024.
Lenders set to undercut one another after record number of homes went on market on Boxing Day
Effective from 8:30pm on Sunday, 7 January, the lender is set to increase its 2- and 5-year 60% loan-to-value (LTV) products by up to 0.37%.
Lib Dem Treasury spokesperson Sarah Olney MP said: “This is laughable. What planet is he living on?”
An early election and more support on affordability are among brokers’ Christmas wishes, from a hopefully obliging Santa.
Weak demand for homes for sale could strengthen in the New Year as mortgages become cheaper for buyers.
EXCLUSIVE: A recession rests on a coin toss, with confidence of a 15-year low, a leading business author says.
Higher mortgage rates and punitive property levys wipe out potential profits
Lending giant Halifax will be reducing a five-year fix for borrowers with a 40 per cent deposit by 0.20 percentage points, to 4.53 per cent.
Two more major lenders have cut mortgage rates, prompting hopes that deals could seen come close to 3%.
Mortgage rates could “drop below 4 per cent by the end of the year”, Magni Finance director, Ashley Thomas, has argued following recent rate reductions.
Following the news, one broker said some rates, based on the current direction of travel, could even start with a three before the year is out in December.
First Direct is making mortgage rate cuts of up to 0.40 percentage points and Halifax is cutting rates by up to 0.46 percentage points.
Hot on the heels of HSBC, Halifax has announced it is reducing its mortgage rates again on Wednesday 15th November. Following the news, one broker said some rates, based on the current direction of travel,...
Rates will be reduced by up to 46bps across the lender’s homebuyer ranges
Mortgage rates have been dropping over the last few months with major UK lenders now offering more mortgage products under 5%
First Direct is making mortgage rate cuts of up to 0.40 percentage points and Halifax is cutting rates by up to 0.46 percentage points.
UK Finance has just published its mortgage arrears & possessions update for Q2 2023, showing, among other things, that there were…
Mortgage brokers have hailed Nationwide’s decision as a “watershed moment”, anticipating a revitalisation of the property market and instilling hope among borrowers.
The cheapest two-year mortgage rates have fallen below 5 per cent for the first time since the middle of June as hopes grow that the worst of the mortgage crisi
Nationwide has become the first lender in months to bring a sub-5 per cent two-year fixed rate mortgage to market in what brokers have called a “watershed moment.”
Nationwide’s two-year fixed rate deal offered at 4.99% as lenders jostle for customers
Mortgage brokers have hailed a ‘watershed moment’ as Nationwide became the first lender in months to release a sub-5% home loan deal on a two and five-year fix.
Homeowners can lock into a two-year mortgage rate below 5% for the first time in five months as lenders continue to slash the cost of borrowing.
Describe your firm in a few sentences Shaw Financial Services is an independent mortgage brokerage based in Mansfield, Nottinghamshire. The majority of our business is from first-time buyers who need help...
Brokers said the reason for the low volume of remortgages is the sharp rise in product transfers, as many people have no choice but to stay with their existing lender, lenders placing more emphasis on...
With many prospective buyers gambling on further house price falls, will fortune favour the patient — or the bold?
Following its rebrand last week, brokers have shared their views on the new Nationwide logo and strapline.
“The mortgage price war is over”, Mather and Murray Financial independent financial adviser, Samuel Mather-Holgate, has argued as investors mark down their bank rate expectations.
Halifax has launched a sub-6% deal at 95% LTV as part of the changes.
One broke described the rates as “a lifeline for first-time buyers”.
Brokers told Newspage that this was a “lifeline for first-time buyers.”
Protection experts have warned that an increasing number of people are ignoring or even cancelling protection policies due to rising mortgage payments.
According to Newspage, advisers have seen a growing majority of people ignoring or even cancelling Life, Critical Illness (CI), and Income Protection (IP) because it’s a “luxury” they can’t afford.
Net mortgage approvals for house purchases fell to 45,400 in August, the lowest level for six months, the latest figures have shown.
Brokers said this looks to be the cheapest 2-year fixed they have seen for months.
The Bank of England’s decision to pause its interest hikes led to a further wave of rate cuts from lenders
The average five-year fixed-rate homeowner mortgage has fallen back below the 6pc mark, according to figures from financial information website Moneyfacts.
Brokers slam NatWest for offering a sub-5.0% mortgage rate directly to consumers, bypassing brokers.
NatWest has come under fire for the move with brokes branded it “short-sighted”.
Falling borrowing costs and improved sentiment could see more buyers enter the fray soon, increasing competition for first-time buyers.
Brokers have criticised NatWest for offering a sub-5 per cent mortgage rate direct to consumers which has not been made available to brokers.
Mortgage experts are expecting significant falls in the cost of borrowing this week as lenders drop their rates.
Two-year swap rates falling below 5 per cent is the “best news we have heard in months”, The Mortgage Expert’s Darryl Dhoffer, has argued.
The Bank of England on Thursday joined the U.S. Federal Reserve in pausing interest rate increases after a surprising fall in U.K. inflation eased concerns about the pace of price rises.
Brokers have welcomed the news across the board.
Brokers are confident a mortgage rate war is “well and truly underway” as high street lenders cut their rates.
NatWest and TSB slash home loan rates on two-year and five-year fixed deals
The reductions will take effect from tomorrow, Friday,22 September, and will see selected residential products reduced by up to 0.25%.
The rates change from tomorrow - September 21 - and mean reductions of up to 20 per cent on selected two and five-year switcher deals
The value of gross mortgage advances completed in Q2 totalled £52.4bn, which was the lowest figure since the second quarter of 2020 when the country had entered lockdown and the property market was effectively...
Brokers have warned couples to be careful of who they fall in love with following the story of a pair who were refused a mortgage after one had poor credit.
Increased mortgage arrears come despite government pressure on lenders to ensure customers are aware of the support available
‘Terrifying’ hike in mortgage arrears - and ‘it’s about to get an awful lot worse’ - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting....
The value of outstanding home loans with arrears climbed by 13% to £16.9bn in the second quarter of this year, Bank of England figures show.
The value of mortgage balances in arrears has jumped to the highest level in seven years as rising interest rates pile pressure on household finances.Figures re
Jump in borrowers unable to make payments with landlords particularly hit and ‘worse to come’
Bank of England survey shows 28.8% increase compared with last year, reflecting sharp rise in borrowing costs
The property market has observed a rising trend of gazundering, particularly in specific regions, as house prices see a decline. This practice, wherein
Andrew Bailey, the Governor of the Bank of England, said that the UK is transitioning from a phase of necessary rate increases to nearing the peak of the cycle.
With house prices dropping at the fastest rate since 2009, here is a look at what is behind the latest market trends and what could be on the…
Rates are being reduced for new businesses, including purchase and remortgage rates, as well first time buyers.
With house prices falling and buyers holding all the cards gazundering has once again become rampant in some parts of the country.
For new business, rates on purchase mortgages will be cut by up to 0.18% and 0.10% on selected 2-year and 5-year deals.
UK house prices are falling at fastest pace since 2009 on annual basis, reports Halifax, down in every region
With house prices dropping at the fastest rate since 2009, here is a look at what is behind the latest market trends and what could be on the horizon.
Speaking with Newspage, property and mortgage professionals have noted a steep rise in gazundering as of late.
Borrowers grappling with high mortgage rates will be pleased to know that some major lenders have made further cuts, with others set to follow suit.
The so-called big-four banks could follow Natwest and HSBC in announcing a fresh round of mortgage rate cuts.
Major lenders expected to slash mortgage rates this week - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting. A forum for discussion and...
Decision will ease some pressure on UK homebuyers and people seeking remortgage deals
NatWest has announced a series of rate cuts across its residential and buy-to-let mortgage ranges. Available from 5th September, residential purchase products will reduce by up to 35bps and tracker rates...
The UK’s top lenders have now been cutting mortgage rates for six weeks
The lender has informed brokers that it will be introducing rate reductions of up to 0.19% and 0.35% on selected 2- and 5-year purchase deals.
Down valuations are “increasing as lender caution takes hold”, Self Employed Mortgage Hub founder, Graham Cox, has warned.
Earlier today, the high street bank announced a series of rate cuts across its residential and buy-to-let mortgage ranges
HSBC is making changes to its residential first time buyer and home mover offerings, as well as decreating rates for existing residential customer switches.
Successfully appealing these valuation decisions is often extremely difficult, particularly given the current climate.
Landlords can secure close to double-digit returns as buy-to-let yields are climbing in some parts of the country, new data reveals.
This warning has been issued to anyone with New Business, Switcher, Additional Borrowing and Existing Customers Moving Home accounts.
The “institutionalisation” of the buy-to-let market and the private rented sector has “slightly Orwellian undertones”, one broker has claimed.
The Bank has already raised its base rate 14 times in a row. The Monetary Policy Committee (MPC) has steadily raised rates from 0.1 percent in December 2021 to 5.25 percent and is expected to vote for...
This includes rates across the New Business, Switcher, Additional Borrowing and Existing Customers Moving Home range.
The reductions include rates across its new business, switcher, additional borrowing and existing customers moving home product ranges.
As the financial and regulatory walls close in on amateur landlords, institutional investors are increasingly moving in.
“Marathon mortgages” are becoming more popular as rising interest rates make it harder for some prospective buyers to afford a 20- or 25-year deal
The high street banking giant says cuts are coming across its Residential and Buy to Let new lending and Reward ranges.
The lender will be reducing its 2-year fixed 60% loan-to-value (LTV) product from 6.13% to 5.98%.
Santander increasing its interest cover ratio calculations is a “disaster for the buy-to-let sector” and could lead to a “housing crisis in the making”, one broker has claimed.
Artificial intelligence has the potential to revolutionise mortgage advice, brokers have suggested, but that will come through supporting advisers rather than replacing them.
Recent data from the purchasing managers’ index gave a “dire” outlook for the economy, but could “spell good news” for mortgage holders, Shaw Financial Services founder, Lewis Shaw, has claimed.
Intermediaries have welcomed the fact that business levels in August have been low, suggesting it offers a chance to recover from the “rollercoaster” of recent months ahead of the market kicking back into...
People renewing their mortgage over the next 12 months could be £3,456 worse off on average each year.
Higher-than-expected wage growth data has increased the likelihood of another Bank of England interest rate rise, according to economists
UK house prices rose on average by 1.7% but signs of recovery might be short lived
The rise in the average monthly mortgage payment for people renewing their mortgages over the next year will make them around £288 worse off a month, equal to around £3,456 a year.
While core inflation remains sticky at 6.9 percent, analysts predict the Bank of England could raise the Base Rate as high as six percent.
House prices increased by 1.7 per cent in the 12 months to June down from a revised 1.8 per cent, but experts warn they’ll probably come down
Higher-than-expected wage growth data has increased the likelihood of another Bank of England interest rate rise, according to economists
Accord has reduced 95% LTV rates by up to 0.80%.
Barclays has announced a series of reductions to its mortgage rates, including a 0.3 percentage point fall for product transfers, following similar announcements by other large lenders.
Pay grew at the fastest rate since records began during the second quarter, new figures show.
The buyer has since lodged a complaint with the estate agency.
A mortgage adviser has accused estate agent Connells of “blatant conditional selling” after reneging on his client’s accepted offer.
Independent mortgage brokers are calling for proper penalties for those involved in conditional selling and want the Financial Conduct Authority to take action.
Bleak outlook for landlords as many fall behind on repayments
HSBC and TSB have also reduced selected fixed rate mortgage products in recent weeks.
From tomorrow, NatWest is reducing its fixed rates by up to 0.65 percentage points on both two and five-year terms.
Halifax is the UK’s biggest mortgage lender
Big lenders become latest to reduce borrowing costs, joining four other UK home loan providers this week
Around 81,900 homeowner mortgages are in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of the year.
Rising interest rates see many homeowners fall behind on their payments
Around 81,900 homeowner mortgages are in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of the year.
UK Finance expects arrears to continue to rise given the ongoing cost of living challenges.
Predictions of ‘price war’ good news for first-time buyers and hard-pressed mortgage holders
The move aligns with other lenders’ decisions (namely HSBC and TSB) to decrease selected rates, despite the latest hike in the base rate to 5.25% last week.
Experts have given their insight into how sellers can get the best price for their property
Average UK house prices fell by 0.3% in July but the residential market remains resilient with first-time buyer activity holding up, according to the latest Halifax House Price Index. The monthly decline...
The average house price in the UK fell by 2.4 per cent year-on-year coming to £285,044 in July, according to the latest figures.
Average UK house prices fell by 0.3 percentage points over July, the fourth consecutive monthly decline, Halifax’s House Price Index has revealed.
House prices in July were 2.4 percent lower than the same month a year earlier, the Halifax property index reveals.
Experts on its expected impact on mortgage rates
The Bank of England is expected to raise the Base Rate by a further 0.25 percent today, but brokers say this has already been “baked in” to fixed mortgage rates.
Bank of England is expected to hike interest rates from 5% to 5.25%, a 15-year high - but experts say the focus on rate rises for mortgage borrowers has ignored impact on others
Brokers discuss the idea of ‘Dutch-style’ mortgages – one thinks its “bonkers”
Brokers discussed the pros and cons of taking a mortgage to the age of 75.
The US central bank has raised interest rates to the highest level in 22 years - even though inflation in that country is down to 3.0 per cent from a high of 9.0 per cent last year.
Brokers have claimed that 40-year mortgages are a “bonkers” idea that will leave customers “more vulnerable” to interest rate changes.
Underlying earnings at Centrica’s gas and electricity supply arm leapt 889 percent to £969million in the six months to June 30 from £98million a year earlier.
Interest rates WILL go up next week … and maybe after that
The Federal Reserve raised interest rates to a range of 5.25% to 5.5% yesterday.
Borrowers in Britain are still having to pay extremely high rates for new mortgages compared to one year ago, even though inflation is now falling at a greater rate than expected.
Borrowers in Britain are still having to pay extremely high rates for new mortgages compared to one year ago, even though inflation is now falling at a greater rate than expected.
As rates soar, seeking the right mortgage advice is more important than ever
EXCLUSIVE: Another interest rate rise from the Bank of England will spark a housing market meltdown, a finance expert has said.
Interest rates WILL go up next week … and maybe after that
Mortgage borrowers are potentially missing out on better deals by choosing a product transfer without advice, brokers have said.
The Secretary of State for Levelling Up, Housing and Communities, Michael Gove, has announced plans to relax planning rules in England in an attempt to build mo
There is hope of some ‘breathing space’ for mortgages after the latest inflation data showed the rate of price growth is slowing.
Small drops in average rates for two- and five-year fixed mortgages follow easing of inflation rate in June
Mortgage interest rates could have already “peaked” following an unexpected drop in inflation in June.
Many financial services experts still predict a 0.25% base rate rise at next month’s meeting.
In an announcement released this morning, the Office for National Statistics (ONS) confirmed that UK inflation fell to 7.9% for the month of June.
Mortgage and Property experts share their reaction to the June UK inflation data showing rate has fallen to 7.9%.
Borrowers continue to be hammered by rising interest rates as the market now bets on the Bank of England hiking its base rate by a fourteenth time from its current 15-year high of 5%.
EXCLUSIVE: Borrowers in Britain and the US are suffering as mortgage rates climb and house prices fall.
Average two-year fixed interest rate has been edging closer to 7pc
It is “too early to tell” whether swap rates are on the way down Large Mortgage Loans founder and CEO, Paul Welch has stated.
How affordability is assessed and what mortgage brokers actually do are among the most common misconceptions among borrowers, according to intermediaries.
Mortgage advisers raised concerns that there
Brokers and intermediaries responded to the news with what they would be say if they were to attend.
House prices registered a slight dip for the third consecutive month in June, reflecting a cooling housing market in response to increasing interest rates.
The annual drop of 2.6% in June is the largest year-on-year decrease since June 2011, Halifax said.
HOMEOWNERS face more mortgage misery as interest rates soared over 6% for the first time this year. The average interest rate on a five-year fixed rate mortgage ticked up from 5.97% to 6.01% overni…
Brokers noted that rates are still available below 6% but predict rates to rise further.
The average interest rate paid on a five-year fixed rate mortgage has risen above 6 per cent today as brokers warn that rates still have not hit their peak.
This news comes following weeks of volatility in the mortgage market due to rising interest rates and high levels of inflation.
The media, the government and the Bank of England have all come under fire by mortgage brokers for their role in contributing to the ongoing difficulties in the mortgage market.
Major British lenders on Thursday announced another increase in mortgage rates offered via brokers, pushing many products above the 6% mark in painful news for many homeowners and potential buyers.
Consumer prices rose by 8.7% in the year to May, unchanged from the previous month, data from the National Office for Statistics shows, prompting fears of a higher base rate rise tomorrow. Rising prices...
The Bank of England may be forced to plunge Britain into recession to regain its grip on inflation, economists have warned.
The rate of inflation has remained at 8.7% despite a slight decrease expected by economists which would have gone some way to calm the price rise fears of thousands.
Government borrowing costs have climbed as economists warned that the Bank of England may be forced to plunge Britain into recession to regain its grip on inflation.
Following the Land Registry April House Price Index published this morning, property experts have been sharing their reaction to the news and also what the im
The average UK house price was £286,000 in April 2023, which is £9,000 higher than 12 months earlier, the Office for National Statistics said.
As interest rates rise and product withdrawals cause increased stress for mortgage advisers, brokers have expressed frustration over the lack of support from existing industry bodies.
Many in the financial services industry are bracing themselves for the fallout from another interest rate hike.
Mortgage brokers have said borrowers should remain calm and look beyond average rate figures as Moneyfacts revealed the average two-year fixed rate was now 6.01 per cent.
The average rate on a 2-year fixed mortgage in the UK has risen to over 6%, reaching 6.01%, an increase from 5.98% on Friday and 5.26% at the start of May.
Experts have warned it might get worse before it gets better
FAMILIES face a £200 surge in monthly mortgage payments when their fixed rate expires this year. A staggering 1.6 million UK families will have to remortgage in the next 12 months, according to the…
Brokers expect a rise in adverse credit customers
Lenders have been urged to focus their efforts on building relationships with brokers, ensuring that intermediaries do not spend interminable periods on hold, if they want to offer better support.
Brokers expect a rise in adverse credit customers
The buy-to-let sector is suffering a slow and painful death, according to brokers, with first-time buyers the chief beneficiaries.
UK house price growth eased to 5.5% in the year to February, meaning the average home cost £287,506, Land Registry data shows. This is a 1% fall on the 12 months to January and a 3.5% slide on the year...
Market conditions are leading many to explore non-standard mortgage options
Barclays’ acquisition of Kensington Mortgages could reinforce its existing proposition and signal the start of high street lenders diversifying into new markets.
After Nationwide announced that it is making rate increases across selected fixed term (two and five year) and tracker New Business and switcher products, from
Following Robert Gardner of Nationwide outlining the challenges faced by first-time buyers this morning in the lender’s February HPI, Newspage asked brokers wh
Advisers were not impressed, with some saying the headline “could absolutely be construed as advice”.
A headline in yesterday’s Sunday Times Money section read ‘Stick with your lender — you will get a better mortgage deal’. Whilst their article does s
Rate switch cancellations will become more and more common over the coming weeks as mortgage rate pricing continues to decline, which could lead to an increase in lender workload, brokers have said.
Mortgages rates have gone below 4% for the first time in months - but lenders are being stricter about who can borrow. Here is what those seeking a home loan need to know.
HSBC and Virgin Money are offering five-year fixed rates below four per cent.
Virgin Money has relaunched 95% loan-to-value products, and now offers a range of five-year fixes at under 4%. The bank debuts a 95% LTV five-year fixed-
Virgin, from today, has gone sub-4% on 5-year fixes, at 3.95%. Importantly, it is also offering a 3.99% 5-year fix for purchases. Free PR platform, Newspage, so
Virgin Money has relaunched 95% loan-to-value products, and now offers a range of five-year fixes at under 4%. The bank debuts a 95% LTV five-year fixed-rate fee-saver at 5.09%. And a 95% LTV 10-year fixed-rate...
A year ago there were 661 equity release mortgages, with an average rate of 4.1 per cent, now there are just 179 with an average rate of 6.74 per cent
With fixed rate mortgage rates edging down, PR platform, Newspage, asked brokers when they may drop below 4%. Some believe it’s imminent, others believe it could be some time yet.
The mortgage market is in turmoil due to a series of political and economic events
The mortgage market was at the sharp edge of the political and economic turmoil in the UK during September and October, with mortgage deals withdrawn at an unprecedented rate and the cost of fixed-rate...
High property prices, a cost-of-living crisis and now rapidly rising interest rates have resulted in far more homebuyers opting for 30-year-plus mortgage terms. It is not hard to see why these longer-term...
‘Dispensing money advice in public is not like doing a cookery show, or teaching a dance move. You really need to know who you are talking to’
Mortgage industry reacts to comments regarding lenders’ SVRs
PCP contract costs are rising – and drivers are looking to get rid
The increase in equity release pricing has raised concerns amongst brokers about rolling-up debt hitting the property value faster
Following the resignation of Liz Truss as Prime Minister, East Midlands business leaders are reacting.
“Get that fella off the TV and let’s see his CeMap papers. Since when has sound financial advice been given on speculation” said one broker.
Fred Harrison (pictured) says based on his 18-year property cycle theory, which he has mapped out using hundreds of years’ worth of data, UK prices won’t fall until 2026.
Even though the mini-budget has been torn up, other factors mean your mortgage rate probably hasn’t decreased.
Mortgage lenders have started to pull their best deals.
Bluestone Mortgages made the decision last week to pull all its pre offer rates after telling brokers the scale of rises in swap rates had made its pipeline sub economic
Advisers and their clients will have to scramble to rejig their strategies following chancellor Jeremy Hunt’s destruction of the economic plans laid out by his predecessor, the industry has warned.
Following the impact of today’s political announcement on borrowers and savers, a selection of IFA and Brokers have commented. Samuel Mather-Holgate of Sw
Reaction from across the East Midlands as the Chancellor sets out his economic vision
Kwasi Kwarteng has today (14th October) confirmed he was asked to step aside as Chancellor of the Exchequer by prime minister Liz Truss.
Prime minister Liz Truss has sacked Kwasi Kwarteng as chancellor. Speculation about Kwarteng’s future as chancellor started last night when he ended his trip to the US a day early to fly back to the UK....
Mortgage brokers have complained that staff working from home is negatively impacting the service level provided by lenders
Rates on 5% deposit mortgages are more than 6%, which will impact what first-time buyers can afford - but house prices are set to get cheaper which could boost their deposits.
UK economic woes are so bad right now that advisers feel they are either on the Titanic or in some terrible 1980s sitcom where they are trapped in a nightmare
With the chaos triggered by the mini-Budget, and mortgage rates continuing to rise, Riz Malik of R3 Mortgages called for the Chancellor to quit live on Sky News yesterday.
After Riz Malik of R3 Mortgages called for Chancellor Kwasi Kwarteng to quit live on Sky News earlier today other brokers give their opinion.
Some mortgage experts think that arrears and repossessions will rise, although lenders will always support borrowers where they can
With rates rising sharply, energy bills soaring and many borrowers leveraged to the hilt, Newspage asked brokers whether we will see a rise in the number of forced sales and repossessions in 2023 — and,...
Brokers on how extreme market conditions may be next year
As part of World Mental Health Day, we spoke to a number of industry experts about stress, their own mental health and ‘broker burnout’.
While longer mortgages make the loan more affordable in the short-term, borrowers ultimately pay interest for longer
You may be better off with a variable rate mortgage — if you can stand the uncertainty. Average two-year and five-year fixed rates both hit 6 per cent this week
Tougher rules for long fixed rates will add to the pain
Buy-to-let mortgages are now so expensive that only landlords with at least 50 per cent equity have any chance of being able to afford deals, according to brokers.
If the Bank Rate hits 4.5pc as expected, bills will jump by 50pc
Interest rates have risen dramatically as lenders pull a record number of deals
Following the government’s U-turn on the abolition of the additional rate of income tax, financial services professionals give their view on its impact.
When asked about strong lender communication, brokers highlighted one building society, as well as a handful of big high street names..
With all the question marks surrounding the economy, rates set to rise further (potentially sharply) and some predicting a property market crash, one broker h
A audience member on BBC’s Question Time sparked horror by revealing her mortgage offer had risen from 4.5% to 10.4% - but how typical is that?
Even if markets respond well to the UK government’s decision to reverse plans to cut the top 45p income tax rate, R3 Mortgages director Riz Malik fears that “mortgage lenders may take some time to reflect...
Following the news this morning that the Government have U-turned on a plan to abolish the 45p rate of income tax for top earners, Newspage asked brokers for their responses:
The Chancellor has made a dramatic statement to the media this morning announcing a pretty big U turn in Government policy. He has revealed that the reduction
More than 900 mortgage products were pulled by lenders last night as volatile markets continue to react to the government’s mini-Budget, according to Moneyfacts. The data group says a record 935 home loans...
House prices could drop by over 20% in the next three years unless the Government gets a grip on the economic issues facing the UK, brokers have warned. Before the latest economic setbacks, inflation...
Mortgage lenders have pulled 935 products since yesterday as many struggle to re price interest rates amidst short term market uncertainty
Banks continue to pull mortgage deals over fears the Bank of England will raise interest rates, with warnings repayments could rise by £800 and first time buyers face shelling out £1,100 a month on homes.
Brokers are encouraging customers who have not submitted mortgage applications to act quickly and have all their documents ready to go as lenders withdraw new business fixed rates and reprice amidst economic...
Latest in our cost of living blog as mortgage lenders withdraw their products; the pound rallies slightly after historic lows on Monday; the Bank of England appears likely to raise interest rates 0.75-1%,...
If UK high street banks are pulling new mortgage products, is now the right time to look for a self-employed mortgage?
A wave of major lenders have pulled mortgage deals from sale as the markets are rocked by the volatile pound and expectations the Bank of England may step in.
Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance...
Sterling fell by more than 4 per cent in early Asia trade on Monday morning before it regained some ground to about $1.05
The Bank of England has raised the Base Rate six times since December, to help stem soaring inflation.
In response to concerns about the impact of Chancellor Kwarteng’s latest plans for tax cuts, in Asian trading overnight, Sterling hit a record low his morning
“People don’t need help to move home. They need help to keep and heat the one they have.”
An independent mortgage broker from Mansfield has warned a move by the Bank of England could see people paying more for their borrowing.
Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “This is more of the same from the Bank of England with another 0.5% rate rise. The plan is death by a thousand cuts, or in this case, rises....
New interest base rate announced amid ongoing cost of living crisis
Rapid rate rises risk adding hundreds of pounds to monthly bills
The government has said that it wants to encourage mortgage lenders and others to include a borrowers’ rent track record in lending decisions to allow more first-time buyers onto the property ladder.
Real radicalism would mean reforming planning and the whole property tax system
Government warned measure would create housing bubble that does little to benefit first-time buyers
Santander, NatWest and HSBC are among the lenders who have increased mortgage rates this week ahead of the MPC’s interest rate announcement on Thursday.
Mortgage brokers have called for the government to announce measures which will keep inflation under control, increase housing production and provide greater support to landlords in this week’s ‘fiscal...
Chancellor Kwasi Kwarteng will announce plans to cut stamp duty in the mini-budget this Friday, according to several press reports.
The Prime Minister, Liz Truss, could cut Stamp Duty as part of her mini-Budget, or fiscal event, later this week, the Times reports. Truss and her Chancellor, Kwasi Kwarteng, have been working on the...
The government is set to cut stamp duty in its mini-budget later this week, according to reports.
Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “The Bank of England are damned if they do and damned if they don’t. If they fail to contain inflation, politicians will argue that they’re...
This week, many expect the Bank of England to raise rates by 0.75% in an effort to combat inflation. In response, ten brokers were asked what it would mean for
A mortgage transaction is always unpredictable. How do professionals cope with ‘broker guilt’ when deals break down?
Mortgage brokers are reporting ‘an enormous uptick in enquires’ from tenants who are being given first refusal to buy their rented home. The brokers point to increasing numbers of amateur landlords who...
Following Liz Truss’s energy price cap announcement last week, some brokers have suggested that property market activity may start to tick up again now that people know what’s happening with their utility...
The reduction in the number of mortgage products available at the moment may be motivated by a desire to reduce application levels so that they can cope with backlogs and improve service levels, brokers...
Now’s the time to take advantage of Help to Buy if you want to get on the property ladder.
It's now or never if you want to take advantage of the government's equity loan scheme
The UK economy grew 0.2% in July following a 0.6% fall in June, but the “disappointingly small rebound” suggests we’ve already entered recession.
Brokers have urged anyone seeking to make use of the Help to Buy scheme to “get their skates on, pronto”, ahead of the forthcoming deadlines. They have al
Will the energy bill freeze save the property market from a crash?
Mortgage brokers around the UK have reported a big rise in tenants being given first refusal to…
A range of mortgage brokers are reporting an increase in enquiries from private tenants who have been given first refusal to buy the homes they are renting.
The average UK house now costs a record £294,260 according to Halifax’s latest house price index.
The average UK house now costs a record £294,260 according to Halifax’s latest house price index.
If you were to accuse Lewis Shaw of blowing his own trumpet he would not just agree with you but also provide a rousing rendition of Elgar s Trumpet Voluntary
If you are in the market to buy a newbuild property, you don’t have to be rushed into signing anything. Mortgage brokers offer tips to avoid dodgy developer tactics.
Brokers have reported “an enormous uptick in enquires from tenants who have been given first refusal to buy the property they’re renting”. They say increas
“These unethical developers should be named and shamed”
Brokers report they have seen a growing number of tenants say they have been given first refusal to buy the property they are renting over the last two months. It is believed this is due to a combination...
So now we know. Liz Truss will be the new UK Prime Minister. Whilst the leadership election felt like it had been going on forever, in reality it was only on 7
A number of brokers have expressed concern about new build property developers putting pressure on prospective buyers.
Brokers have expressed their concern about new build property developers increasingly putting pressure on prospective buyers to exchange contracts within a 28-
Members of the advice industry have mixed views on the government s call for evidence on its review of the emerging trends in remote and hybrid working
Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “August has been off the charts for new applications, whether it’s people moving home, first-time buyers or people wanting to remortgage;...
Buyers are being delayed by inefficiency, incompetency, gazumping and gazundering
Following the Nationwide August House Price Index published this morning industry experts have reacted. Ross Boyd, founder of the always-on mortgage comparison
Property professionals and commentators have begun pondering an official definition of a house price crash.
Brokers have suggested that the enormous increases to energy bills, along with the other cost of living pressures, are already affecting how lenders approach affordability.
The Business Secretary’s plan to keep gas and electric prices down now would mean lumbering the next generation with the massive cost
Some people could be forced to sell up and downsize, according to mortgage experts
This latest energy price cap increase will undoubtedly impact the economy, not just in households and businesses where it will be most apparent but in reduced consumer spending, unemployment rising and...
The new cap announced by Ofgem today will come into effect for around 24million households in England, Scotland and Wales on default energy tariffs on October 1.
News is ‘another dagger in the heart’ for small business owners
Confirmation from Ofgem that the energy cap will be raised from £1,971 to £3,549 a year from October has been met with dismay by many in the mortgage industry. Outside of immediate concerns for staying...
It is no longer a “no brainer” to go for a fixed rate mortgage, with the price gap between variable and fixed deals becoming “more marked” than has been the case in years.
Inflation and rising interest rates are creating a conundrum for some mortgage advisers over whether a short or longer-term loan fix is better for borrowers.
Brokers have argued that it is no longer a “no brainer” for clients to go for a fixed rate mortgage, with the price gap between variable and fixed deals becoming “more marked” than has been the case in...
Following the UK House Price Index (June 2022), property experts have reacted. Ryan Joyce, director of Nottingham-based independent mortgage broker, Key Mortg
BRITAIN is facing the prospect of “anarchy in the streets” and people “starving in their own homes”, small UK businesses and charities have warned on the day inflation moved into double figures.
As more than 100 000 people pledge to not pay their energy bills in protest over soaring prices the financial sector has expressed concerns over the impact the campaign will have on the protestors financial...
Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “Anyone taking out a new mortgage needs to establish what future costs might look like to avoid getting themselves into financial hardship. “If...
AN ENERGY bill warning has been issued to Britons who may be thinking about refusing to pay their bills - as they could find themselves moved onto prepayment meters.
Shelter has jumped on the most recent government repossessions data which reveals that bailiff warrants rose by…
As the impact of the cost of living crisis takes its toll, the ONS has today reported that UK GDP fell by 0.1% over the second quarter of 2022. Although it was
The UK economy contracted less than was expected last quarter but its foundations are weakening with financial distress growing as a constraint within the small business sector and lynchpin of the labour...
The total number of customers in arrears with their mortgages totalled 74,540 at the end of June, according to the latest data from UK Finance. The data found that the number of homeowner mortgages in...
Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “Understandably, consumers want to take a stand against energy suppliers when they appear to be boasting of record profits and bumper payouts...
At least four lenders have temporarily stopped processing new mortgage applications citing intense backlogs as service levels are stretched further by a rapidly changing interest rate environment
Rocketing interest rates could double this year’s projections for repossessions to 24,000 by 2024 according to an economic consultancy’s analysis of latest Bank of England figures
Ahead of the Bank of England’s rate decision this week, a selection of IFAs, brokers and estate agents outline whether they think rates should be increased and why.
A RECORD number of struggling pensioners are taking cash out their homes to cover surging bills.
The Bank of England has no choice but to raise interest rates at its meeting this week but that alone will not combat inflation experts have said
The governor of the Bank of England, Andrew Bailey, and the rest of the monetary policy committee will hike interest rates 50 basis points this Thursday.
Ahead of the Bank of England’s rate decision this week, Newspage asked a selection of IFAs, brokers and estate agents whether they think rates should be increased and why.
Ahead of the Bank of England’s rate decision this week, a selection of IFAs, brokers and estate agents gave their view on whether they think rates should be
Cheap loan deals are expiring just as the Bank of England pushes up its interest rate
Rising inflation and interest rates has led borrowers to cancel or opt out of mortgage-related protection cover, according to a poll.
Only 23 of 333 local authorities have submitted entries.
Following this morning’s inflation data, IFAs, brokers, and money coaches have reacted to its impact on savers and borrowers. Nick Lincoln, director at Watfo
Inflation in the UK reached 9.4% in June, setting a fresh 40-year record high, according to the Office for National Statistics (ONS). The latest figure is driven by a 42.3% rise in the price of motor fuels...
“Neither the Bank of England, nor the politicians running this country, have a clue what to do”
Self-employed borrowers are treated as higher risk by mortgage lenders but there is little justification, according to mortgage brokers.
Over a million households will have to remortgage to higher interest rates this year
Mortgage lenders have continued to hike their rates in the past week tipping fixed interest rates into 4 per cent territory
This morning the latest monthly ONS economy stats were released, highlighting a Gross domestic product (GDP) growth of 0.5% in May 2022, after a decline of 0.2%
Educating clients about how the homebuying process works is as important as locating the right rate, brokers have argued, though there were also calls for schools to do more.
Advice for a chancellor with his work cut out.
Homeowners looking to borrow extra money are opting for second charge loans over a full remortgage as interest rates rise, brokers say.
House prices increased by 1.8% in June marking the twelfth consecutive monthly rise, according to the Halifax House Price Index. The annual growth rate of 13% is the highest seen since late 2004. The...
Agent Simon Shinerock and a clutch of mortgage brokers say Covid put existing conveyancing cracks under greater pressure, rather than causing.
Following reports of record times in property conveyancing, Newspage asked 12 property and mortgage industry experts for their views on the current conveyancing system. Though some supported conveyancers,...
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The UK government is considering plans for cross-generation mortgages to tackle the housing crisis but the idea was not welcomed by all in the mortgage sector with one describing the idea as “ludicrous”....
Following reports of record times in property conveyancing, we asked 12 property and mortgage industry experts for their views on the current conveyancing syste
Property and mortgage experts have branded the current conveyancing system as shambolic after it emerged that time to completion had hit record levels. The average time for a property purchase from accepted...
The UK government is considering plans for cross-generation mortgages, according to a Sky News article. The new plans would see homeowners take out 50-year mortgage terms to be passed on to their children...
BRITAIN’S housing market has been paralysed by a ‘broken’ system that is leading to record delays for both buyers and sellers.
Long-term 50-year mortgages that can be passed on by parents to their children appear to be the latest idea from the government to address housing market issues.
THE Government’s confirmation it is looking at encouraging lenders to give “intergenerational” mortgages of 50 years or more has grabbed the headlines in recent days.
Net mortgage borrowing rose from £4.2bn to £7.4bn on a monthly basis in May, shows new data from the Bank of England (BoE). This, says the BoE, puts the bo
Following today’s Bank of England Money & Credit report (May) issued this morning, mortgage brokers comment on the data and reveal that they’re still fi
Experts react on the mortgage market’s resilience
Net mortgage borrowing rose from £4.2bn to £7.4bn on a monthly basis in May, shows new data from the Bank of England (BoE). This, says the BoE, puts the borrowing figure above the pre-pandemic average...
Mortgage brokers are more likely to burnout through becoming overworked precisely because of the nature of the job, brokers have suggested.
Brokers also give their views on the growing number of people taking out longer term fixes as a result of increasing rates
Mortgage Strategy’s survey of industry leaders demanding planning reform leads our round-up of today’s stories.
As more and more people lock into longer term fixes, Newspage asked a selection of mortgage brokers if the age of rock-bottom interest rates is finally over.
Rising interest rates has driven demand for mortgage products, but brokers say remortgage applications are taking longer than ever.
Which regions and local areas have the highest and lowest monthly rents?
Planning applications continued to fall in the first quarter of this year, despite repeated government pledges to build more homes and tackle the UK’s housing crisis. Figures from the Department for Levelling...
THOUSANDS of homeowners are about to see their monthly mortgage repayments go up after the Bank of England hiked interest rates. The Bank last week increased the base rate of interest for the fifth…
Lewis Shaw, founder of Mansfield-based Shaw Financial Services: “The planning system is broken. We need to build more good quality affordable homes. We should prevent developers from land-banking and...
Halifax is the latest lender to announce a hike in mortgage rates with the increase kicking in from this week June 24
The number of borrowers paying Early Repayment Charges (ERC) has soared following fears of rising interest rates.
Inflation in the UK climbed to 9.1% in May, according to the Office for National Statistics (ONS). The latest figure is the highest consumer prices index (CPI) 12-month inflation rate in the National Statistic...
Following today’s news from the ONS that inflation has hit 9.1%, small businesses from around the UK have given comment. Ollie Hayes, a former professional ru
The government s Help to Buy scheme has loaned 22bn to homebuyers so far but some brokers are concerned borrowers will not be able to pay off their loans against a backdrop of rising rates and a living...
It s another day and therefore it is another blundering policy announcement by Boris Johnson and the Conservative party
End of rules designed to stop banks offering risky loans could ‘exacerbate’ high house prices, critic warns
The Bank of England s decision to withdraw its affordability test recommendation following an industry wide consultation has been labelled irresponsible by brokers
If the Bank Rate increases to 3pc, homes will be as unaffordable as they were three decades ago
Earlier today the Bank of England (BoE) announced a base rate increase of 25 basis points to 1.25%, in a move described as a “missed an open goal”. The increase marks the fifth base rate rise since December...
Find out what happened in the vital move, just moments ago…
Ahead of the Bank of England’s interest rate decision tomorrow, we asked brokers, wealth managers and financial planners for their views on whether Bank Rate s
Brokers have reported seeing increased numbers of clients with missed or late payments on their credit records, and have warned that too often they have little to no idea of the impact such black marks...
Inflation is running at a 40-year high, you’ve no doubt seen how it affects your everyday purchases, but how does inflation affect mortgage rates?
Today, Prime Minister Boris Johnson announced the extension of the right-to-buy scheme. Following on from this speech, a selection of finance experts and mortga
Following the Halifax May House Price Index published this morning, which revealed that house prices increased by 1.0% in May, nine mortgage brokers and estate
New Government plans aim to help housing association tenants and benefit claimants get on the property ladder - but how will it work in practice?
Thatcher’s ‘right to buy’ at discounted rates will be extended to 2.5million housing association tenants in a shake-up first proposed seven years ago.
Experts warn it is a dangerous time to open up mortgage lending to higher risk borrowers
Just Mortgages is offering face to face and remote training sessions for those wanting to become mortgage and protection advisers
Prime minister Boris Johnson has today confirmed plans which will allow homebuyers on lower wages to use housing benefit - currently amounting to £30 million per year - towards their mortgage.
UK Prime Minister Boris Johnson is set to announce new measures that will support more people to get onto the property ladder, which is expected to include proposals for housing benefit being able to be...
Convincing clients of the merits of protection policies is often down to tapping into their emotions, rather than highlighting the high percentage of claims paid out, brokers have suggested.
Brokers have suggested that borrower frustrations with remortgages are often down to their own misconceptions around what’s involved, as well as issues with slow legal firms.
Annual UK house price growth slowed modestly in May to 11.2%, down from 12.1% in April, according to the latest figures from Nationwide. However, prices were still up 0.9% month-on-month after taking...
With household budgets more stretched than ever, we look at what this means for people looking to re-mortgage and what support is available
The well-known personal finance guru Martin Lewis warned last week that mortgages are a “ticking time bomb” for homeowners, as he said Brits should lock
With house prices booming there are signs the cost of living could be taking the heat out of intense selling activity, but the UK’s housing market is too big to fail
As interest rates continue to rise thousands of borrowers will be looking to fix their mortgage, but is this a good idea?
Mortgage brokers have been quick to react to comments made by ITV finance expert Martin Lewis that borrowers faced a mortgage ‘ticking time bomb’. Lewis issued the warning last night on a one off special...
Brokers have argued that interest-only mortgages serve an important role in the market and should not disappear, even though some acknowledged they could be akin to ‘cocaine’ in terms of an addictive way...
Brokers have reported a surge in porting requests from clients as mortgage rates rise but say the process can be more hassle than it’s worth.
As the cost of living rises by 9% we look how it stands to affect mortgages, savings, pensions and investments
The UK appears to be experiencing stagflation, GDP is falling while inflation is predicted to rise to around 10 per cent by the end of the year - i assesses what it will mean for you
The Help to Buy (HTB) scheme was used to fund 8,913 house purchases in the final quarter of 2021, government figures show – a 41% drop annually. Overall, since April 2013, HTB has been used to complete...
The number of property sales completed through the Help to Buy scheme totalled 8,913 in Q4 2021, a 41 per cent decline on the same period in 2019.
After surviving Covid, mortgage brokers are now looking down the barrel at rising rates and raging inflation – there’s never a dull moment in this industry.
Brokers have been inundated with enquiries from panicking borrowers trying to lock in to the best deals after the Bank of England (BoE) raised interest rates.
Second charge mortgages are likely to become more popular among borrowers looking to raise additional funding as rising interest rates stand to make remortgages and further advances less attractive.
Remortgaging will become unaffordable leading to forced sales and falls in house prices
Brokers have said that they are seeing an increasing number of adverts for products and rates that are no longer on the market, often on social media sites like Facebook and Instagram.
The Halifax April HPI published this morning reveals a tenth consecutive monthly rise, with house prices up 1.1% in April. But what do mortgage brokers and est
Average house prices rose 10.8% on an annual basis in April to hit a record £286,079, says the latest Halifax house price index. This rise is down from 11.1% posted in March, but is still the tenth consecutive...
With inflation running at 7 per cent the Bank of England is under pressure to raise rates in order to slow down the UK economy
Intermediaries have suggested that apparent increases in the number of properties being ‘down valued’ may be driven by the ongoing shortage of property combined with buyers desperate to conclude a deal.
SOARING energy bills are threatening businesses across the UK with some fearing it could be “the straw that breaks their backs”.
A CASHLESS SOCIETY warning has been issued as the number of ATMs on the high street plummets.
The Halifax has published new rate rises due to come into effect on 3 May, that are in some cases more than double what they were a year ago. A two-year fixed-rate remortgage at 60% loan-to-value, with...
Monthly property price increase in April was 0.3pc
More than half of UK homeowners would consider opting for a specialist lender in their mortgage search, even if they had not come across the provider before.
Advisers should emphasise to their clients that closing their protection policies in order to boost their finances currently is a ‘false economy’, brokers have argued.
NatWest Intermediary Solutions has increased the maximum term and age at which borrowers may apply for a residential mortgage. The lender is now offering 40-year terms and a maximum age of 75 years old....
There has been a surge of activity in the mortgage market in recent weeks, with hundreds of deals being pulled and lenders hiking rates on many more products. This is causing serious problems for brokers...
Recession set to “knock the socks off” the last one
Brokers warned that mortgage lending criteria will continue to be under the spotlight in the coming months as the cost of living crisis intensifies.
Lenders have put out an increasing number of green residential and buy-to-let products in recent months due to increased awareness from COP26, as well as regulation around required EPC requirements.
Earlier this week, West One Loans launched its green second charge mortgage for landlords with properties with an Energy Performance Certificate (EPC) rating between A and C in what it said was an industry...
Mortgage brokers are reporting an increase in commercial mortgage enquiries as investors eye commercial property as a secure investment against rising inflation.
Lenders are looking at business owners - who may typically pay themselves in dividends - and how recent dividend tax hikes will affect their ability to pay their mortgage.
Santander has announced updates to its residential affordability rates which come into effect on 6 April, including a 1.25 percentage point increase to the national insurance and dividend income tax rate...
The increased demand, yield potential and regulatory flexibility of holiday let has inspired buy-to-let landlords to convert long-term rental properties to short-term accommodation.
Britain s housing market is broken and the property bull market could soon turn into a bear mortgage advisers have warned
Following on from this morning’s planning applications data for England published by the Department for Levelling Up, Housing & Communities, mortgage exper
Average house prices in the UK rose 0.4 per cent to £273,762 between December to January, with annual growth jumping by 9.6 per cent.
There are a host of factors behind the increase in property transactions collapsing of late, including ill-prepared buyers and greedy vendors, brokers have said.
RISHI SUNAK will make his Spring Statement today, providing an update on how the Government will help Brits weather the cost of living crisis. What should the Chancellor be doing to help you?
Brokers and lenders are supportive of the government’s Homes for Ukraine scheme but further details around how it will impact mortgage affordability, the criteria for buy-to-let landlords and owner occupiers...
Tomorrow (17 March) the Bank of England (BoE) is expected to raise rates again in a bid to curb inflation that continues to climb. This will be the second rate rise in two months since the central bank’s...
The number of dwellings where building work commenced on site across England was 41,600 in October to December, which is lower than the previous quarter and lower than a year ago.
Despite repeated government promises to increase housing supply, the number of new homes being started or completed continued to fall in the last quarter of 2021, according to the latest figures from the...
Brokers are seeing more landlords seek to fix their buy-to-let mortgages on longer terms as further rate rises loom.
Average price hits £278,123 as property market continues to defy economic conditions
There’s surreal and there’s the UK property market, which takes surreal to a whole new level. Imagine Dali, on angel dust.The Halifax house price index for
Several leading mortgage brokers have broken ranks to call out agents who employ conditional selling techniques, naming several brands.
“There is a filthy cancer in the estate agency world, which needs to be addressed,” claims mortgage broker, with agents at Connells accused of bad practice.
In-house advice can cost up to £700 in some cases, but mortgage advisers suggest buyers are scared to turn it down in case it affects their purchase.
UK mortgage brokers have warned that estate agents are increasingly forcing buyers to pay for in house services before putting forward their offers
Up to 26% of the British adult population are ‘very worried’ about changes to the cost of living over the next six months, according to a recent poll by YouGov, and nearly half, or 48%, are ‘fairly worried.’...
LV has committed to keeping its payment breaks in place after hundreds of clients took up the offer the majority of whom were self employed
Advisers have floated the idea of a broker union to protect themselves against rising levels of mortgage fraud which some fear could add to a perceived imbalance of power between them and the lenders they...
Lender is now offering ‘Helping Hand’ scheme on a 95% loan-to-value basis, but experts warn that monthly payments will be higher and negative equity is a risk.
Increasing living costs, a chronic housing shortage and rising inflation have been highlighted as the main challenges for mortgage brokers in 2022. House prices are at record highs and mortgage affordability...
An advice firm attempting to break into the business protection space shut up shop after just six months signalling the gruelling path such businesses face when starting from scratch
What will the implications be for borrowers and savers following today’s Bank of England interest rate decision to hike base rate to 0.5% in response to risi
An interest rate increase is imminent. But how hard will it hit us?
Nationwide said it was the strongest start to the year for 17 years but outlook ‘uncertain’
The Bank of England is expected to raise interest rates again this week to contain 30-year high inflation.
Former Brexit secretary and ex-minister David Davis has called for the planned National Insurance rise to be scrapped as the cost of living crisis takes hold.
Following the ONS report published this morning which shows that, in December 2021, less than half of people (46%) thought they would be able to save money i
The number of residential property transactions completed in December totalled 113,470 when non-seasonally adjusted, lower than the level of transactions in 2020 but similar to levels seen before the pandemic.
HOUSE prices boomed to unprecedented levels in 2021, with sellers enjoying one of the most lucrative markets in decades. But when should prospective buyers strike this year?
SOARING energy bills and cost of living crisis are threatening the self-employed, with small businesses owners sharing their fears for the future.
UK house price growth was down 2 1 percentage points in October pointing to a property market finally coming back to reality according to brokers
The Consumer Prices Index (CPI) rose by 5.1% in the 12 months to November 2021, up from 4.2% in October, according to the Office for National Statistics.
Forecasts produced by the Office for Budget Responsibility alongside the Budget suggested homeowners will have to prepare for the biggest hike in interest payments since the financial crisis.
“To bring inflation under control we don’t need rates to rise, we need freedom of movement back,” one expert said.
Inflation has leapt to a 10-year high as supply chain issues and fuel prices have sent the cost of living soaring in recent months.
The affordability check is set to be scrapped at the start of next year
The Consumer Prices Index (CPI) rose by 5.1% in the 12 months to November 2021, up from 4.2% in October, according to the Office for National Statistics.
Ideas from the Bank of England to relax tough mortgage borrowing rules would make it easier for first-time buyers to get approved for a loan, but might also mean the cost of property goes up
Likely rise in mortgage interest rate in the medium term fails to worry property industry as market continues to motor.
INFLATION in the UK continues to rise “beyond the Bank of England’s target”, hitting 5.1 percent last month according to the latest Office for National Statistics (ONS) data.
The Bank of England is poised to relax mortgage lending rules introduced in the wake of the financial crisis, but economists warn it risks sparking a housing bubble.
The reversion rate test was introduced post-financial crisis to avoid another housing bubble, but some say it is too stringent for today’s low-interest environment.
There has been a significant fall in the number of affordable homes being built over the past year, according to the latest data from Homes England. In the six months from 1 April to 30 September, there...
Boris Johnson was just hammered during Prime Minister’s Questions (PMQs) for holding a Christmas party in Number 10 last year days before Christmas, when London had tier 3 restrictions. The Labour leader…
But homeowners could end up spending more over the long-term, experts warn
Some of the UK’s biggest banks and businesses have outlined plans to enter the potentially lucrative private rentals sector as corporate landlords.
Earlier this week, the September data for house price rises was released by HM Land Registry. It revealed that: - on average, house prices have incre
HOUSE prices have risen sharply thanks to the coronavirus pandemic - but as the UK moves forward from the crisis, will the property market crash?
Jeremy Clarkson’s huge new six-bedroom mansion on his Diddly Squat Farm estate which was built on the site of a Cotswolds farmhouse he blew up for The Grand Tour is now nearing completion.
A growing number of borrowers are inquiring how they can use cryptocurrency gains to secure a mortgage deposit but with lenders unconvinced brokers are facing a series of headaches on the issue
Mortgage advice firms have seen their Financial Services Compensation Scheme costs cut this year but concerns remain about the future
Brokers are avoiding using lenders’ technology systems because they are unreliable and inconsistent.
House prices have increased by almost £31,000 — more than the average UK salary — since the beginning of the pandemic, according to Nationwide Building Society.
Mortgage payments could increase by hundreds of pounds a month if the Bank of England’s base rate was to rise, as the OBR forecasts.
Mortgages are already getting more expensive just one day after Rishi Sunak’s big-spending Budget was unveiled prompting interest rate fears. Inflation is expected to reach 4.4 per cent next year stoked...
Mortgages are already getting more expensive just one day after Rishi Sunak’s big-spending Budget was unveiled prompting interest rate fears.
Today’s Autumn budget offered little news for the mortgage industry amid much talk of ‘levelling up’ the economy. Plans to build on brownfield sites and remove unsafe cladding had previously been mooted,...
Money Mail today reveals, installing a heat pump can in fact reduce your home’s energy efficiency score. This is because, as experts warn, the ratings system is archaic and no longer fit for purpose.
The Prime Minister has announced a 4-week halt at Step 3 of the government’s roadmap, with the country’s current restrictions remaining.
Monthly GDP growth slowed in July 2021, rising by 0.1% compared with 1% in June, revealed the latest ONS data.
Building society offers its lowest ever deal of 0.87 per cent after Barclays, HSBC and Co-op’s Platform cut their rates
UK GDP figures are out and after encouraging signs in recent quarters post-Covid, the country has hit a bit of a hurdle. What do the experts say?
Platform, the broker-only brand of The Co-operative Bank has introduced a 0.79% residential mortgage, and has cut rates by up to 32 basis points on other selected home loans. Highlights include: A two-year...
Lewis Shaw, founder of Shaw Financial Services: “This is yet another sign that lenders are going toe-to-toe in a bid to entice top quality, low-risk customers onto their books.”
BRITONS have been urged to keep an eye on their tax codes as the Government introduces a new Health and Social Care levy. As the state launches mass changes, there could be plenty of room for errors and...
Experts and advisers have warned borrowers of the risks that come with lenders luring them into mortgages at rates as low as 0 79 per cent
House prices resurged in August climbing 2 8 percentage points following a 4 percentage points decrease in July but some brokers have warned a nasty Winter could still be in store for the housing market
A war between mortgage lenders to attract new customers is forcing lending rates and property prices as more and more banks come onto the market with deals below 1 percent. High Street loyal Nationwide...
London Scotland and Northern Ireland have seen the largest upticks in interest for professional financial advice since the beginning of the pandemic a nationwide survey has found
The government will announce its first budget since pandemic restrictions lifted. We ask SMEs what they want from the spending review.
Lewis Shaw of Shaw Financial Services laments the damage current transport crisis is inflicting on the economy.
Most homeowners fix their mortgage for two or five years - but deals are available with rates fixed for 10,15 or even 40, but can be expensive to exit.
The government is considering linking mortgages to green home improvements and could impose targets for lenders if insufficient progress is made.
From tomorrow, Halifax will be changing some of the loan to income limits applied to its affordability calculations.
Business leaders comment on new ONS figures on the lorry driver shortage, saying the UK is in a state of logistical disarray.
Mortgage brokers are not prioritising the energy performance of properties in their advice to clients with some dubbing the topic virtually unspoken of and unconsidered in the mortgage buying process
Morgan Smith is a smart first-time buyer who like many has opted to fix his mortgage rate for five years. “With Covid around and not knowing what the economy w
Many households are feeling the financial impact of the pandemic but renters are struggling more than homeowners
HOUSE PRICES face a “winter of discontent” as rising inflation drives up mortgage costs after years of near-zero interest rates. This could finally slow property price growth or even send it to into reverse,...
City A.M. asked a selection of City insiders, analysts and small business owners to answer one simple question: Should the Bank of England raise interest rates this year or not, and why?
Greater dialogue with advisers would mean that broker technology actually delivers what is needed, brokers have argued.
Industry chiefs warned that the burden of higher wages will hit consumers as the government dug its heels in despite rising alarm that supply chain chaos could continue for months.
INTEREST RATES are not set to increase, after the Bank of England refused to be budged on their record-low base rate today. The news follows a year and a half of an almost rock bottom base rate as a direct...
Tax grab ‘kick in the teeth’ for young people and makes it harder to get on the housing ladder
There are now 86 mortgage deals touting rock bottom interest rates. But don’t bank on getting one. And don’t relax if you do
Small business owners pointed out that they would be ‘effectively hit in the pocket twice with contributions both as an employer and employee’ following Boris Johnson’s announcement today.
This week’s Instagram outage has caused outrage in the small business community. But some saw the irony of being so reliant on social media.
Intermediaries have blamed time-stretched developers and a lack of quality control for the new build “horror stories” they are hearing from their clients.
Net mortgage borrowing fell 1 4bn in July marking just the second fall in over a decade but it is nevertheless being dubbed a sign of things to come
House prices in Mansfield are on the up new figures show – but have dropped in Ashfield.
Mortgage rates have continued their downward slide, with multiple deals now available with less than 0.90 per cent interest - but borrowers should watch out for hefty fees.
The super-cheap home loan is being sold by Halifax, which brought it out despite already having the lowest rate the country has ever seen. But the deal isn’t right for everyone
Halifax has launched a two-year fixed rate at 0.83%.
The mortgage rate war is intensifying with lender Halifax today launching the cheapest ever two-year fixed rate of just 0.83 per cent.
Halifax launched a two-year fixed-rate transaction at a price of 0.83% in the latest salvo in price competition between mortgage lenders. The announcement of ultra-low interest rates available to anyone...
Halifax has fired the latest salvo in the price war between mortgage lenders with the launch of a two-year fixed-rate deal priced at 0.83%. The announcement of the ultra-low rate, which is available via...
Coreco’s managing director, Andrew Montlake, has joined Newspage as a non-executive director.
From July 1, the holiday continues, but at a lower threshold of £250,000 until September 30.
Halifax has launched the latest volley in the price war between mortgage lenders with the introduction of a two-year fixed rate contract at a price of 0.83%.
Halifax has fired the most recent salvo within the worth conflict between mortgage lenders with the launch of a
Residential property picture in UK during the busy relocation period, as employees and families are on the move, ready for the start of the new academic year. Latest following Nationwide July House Price...
State pension “shock”, low mortgage rates and British dividends - here’s our weekly heads-up of articles in the weekend newspapers that may have caught your clients’ attention...
It is the second week in a row that Halifax has lowered its mortgage rates
Low rate mortgages have seen another product join their ranks as Halifax introduced the UK s lowest two year fixed rate at 0 83 per cent for large deposit holders
The new deal from Halifax, which will be available to buyers with a 40 per cent deposit from Monday, is the lowest two-year deal ever seen.
Lender to offer ultra-low rate on two-year fixed deal on loans worth up to 60% of home value
A wave of ‘down-valuations’ is forcing deals to collapse
THE BANK OF ENGLAND (BOE) has today predicted huge growth in UK GDP but its interest rates decision has disappointed many who hoped for a hike in rates in the face of looming inflation.
Halifax for Intermediaries has made a series of cuts to its fixed rate residential products, including one change that sees the lender offering its lowest ever two-year fix. At 60% LTV, the lender has...
The price of the average UK property fell in June for the first time this year, as the end of the most generous stamp duty holiday loomed.
HSBC and TSB have launched the UK s lowest fixed rate mortgage rates at 0 94 per cent for large deposit holders
HSBC UK has launched a fixed-rate mortgage at 0.94 per cent, its lowest fixed-rate mortgage ever, but the product will only be available to those with a 40 per cent deposit.
The pace of growth may have fallen back slightly, but house prices are still £20,000 higher than a year ago
The bank of gran and grandad has been generously handing out house deposits over the past year
Mansfield mortgage broker Lewis Shaw says a significant percentage of his clients believe, incorrectly, that the Stamp Duty holiday will end on 30th June. He said: “That’s categorically not the case. On...
A Mansfield-based mortgage advice business has been named as the Best Independent Mortgage and Protection Advisory Firm in the East Midlands at the 2021 UK Enterprise Awards.
UK house price growth slowed in April breaking its eight month long upwards trend following the government s stamp duty break implemented in July
A glut of savings and historically low interest rates have driven a housing market boom, but experts warn the bubble must burst eventually
The soaraway housing market rekindles memories of 2008 when a lending spree triggered the worst financial crisis for decades
What are the options available to older homeowners who need to extend their mortgage term beyond retirement?
Mortgage repossession claims “dropped to unprecedentedly low levels”, according to the Ministry of Justice data in the first three months of the year, but as lockdown restrictions ease brokers fear sharp...
What are the options for those desperate to get on the ladder following a year of lockdown and its impact on income
Lenders have reported that the availability of secured credit to households increased in the three months to the end of February, according to the latest Bank of England (BoE) Credit Conditions Survey. Industry...
A Mansfield business has pledged to support Portland College with the help of its customers. Independent mortgage brokerage Shaw Financial Services has set up a scheme to back the college, a further education...