Mortgage

The UK housing market is gearing up for a bustling autumn season, fueled by the Bank of England's recent interest rate cut, the first since the onset of the Covid-19 pandemic. According to an analysis published by property website Zoopla on…

Buy-to-let mortgage values have shrunk, for the first three decades. This is due to the high borrowing costs and lending regulations that are forcing landlords out of the market. UK Finance data showed that the number of outstanding…

The Bank of England warned that millions of UK mortgage holders will soon see their borrowing costs increase. Rightmove reported that the central bank stated more than 3mn home owners still pay interest rates below 3 percent, while…

Barclays has reduced several of its most important mortgage rates as brokers expect increased competition from high street banks to offer lower prices in anticipation of an anticipated interest rate reduction this summer. The high street…

One of Britain's largest housebuilders warned that the Bank of England "penalizes the young" when it artificially raises the rates for mortgages of 95pc. Rob Perrins is the chief executive officer of Berkeley Group. He said that it was…

The traditional UK mortgage term is 25 years. However, with the escalating house prices, and now dramatically higher borrowing costs, many people are "going long" on home loans. Steve Webb, former minister of pensions, revealed on Monday…

Official figures show that UK mortgage approvals reached their highest level in 18 months in the month of March. This suggests that the property market continues to recover, despite recent increases in quoted rates. The Bank of England…

In response to the "uncertainty" in the market, at least five major lenders raised their rates on fixed mortgages on Tuesday. This increased pressure on those who are looking to buy a home or remortgage. Barclays, HSBC (part of Yorkshire…

The International Monetary Fund has warned that risky lending by shadow banks could trigger a new crisis. The Washington-based organization said that the "opaque private credit" of $2.1 trillion, which has boomed over recent years amid…

The banks have raised the alarm about a "rapid increase" in people borrowing mortgages for more than 35 years. Nearly one-fourth of first-time homebuyers are now borrowing to retirement. New figures from UK Finance reveal that 23 percent…

Jeremy Hunt has cancelled plans for a scheme which would have allowed first-time home buyers to enter the housing market with a 1pc down payment, only days after it was revealed that the Treasury had considered the move. Treasury…

Skipton Building Society said that a pioneering mortgage product, which does not require borrowers to make a deposit, attracted applications totalling £62 million during its first nine-month period. Stuart Haire, 49 years old, a former…

New Dutch-style lenders are releasing fixed-rate mortgages with rates that automatically decrease as the borrowers pay them back. April Mortgages was authorised by Financial Conduct Authority (FCA) in October and plans to offer new loans…

Mortgages requiring a 1pc down payment can increase risks for banks, and distort financial incentives for homeowners. The government is looking into plans to introduce a mortgage of 99 percent for first-time home buyers. Jeremy Hunt…

Persimmon exceeded expectations for new home construction last year. Falling mortgage rates helped boost property sales by the end of the calendar year. However, the company warned that the housing market will be "highly insecure" in 2024.…

Barclays, Santander and HSBC have all announced reductions in their mortgage rates. This is a further step towards lower UK home loan rates following the HSBC and Halifax rate cuts last week. Santander announced a deal with rates below…

Mortgage costs will rise by £19bn as millions of fixed-rate mortgages expire. Borrowers are also forced to renegotiate home loans following the most severe round of interest rate hikes in decades. Goldman Sachs economists say that…

HSBC is the latest major UK lender to cut mortgage rates across the board. Leading names have announced reductions up to 1 percentage point. Banks announced new mortgage deals on Wednesday, including a five-year fixed rate of 3.94% for…