The government has announced a 7 per cent cap on social housing rents next year as part of Chancellor Jeremy Hunt’s Autumn Manifesto, as well as reducing the time Universal Credit claimants have to wait for a loan to help cover mortgage interest payments. Under current rules the government regulates the amount of increase in … Read more
The Bank of England raises interest rates and this drives up mortgage rates, and our calculator lets you see what that might cost you. You can see how much more you’ll pay on your mortgage if the lender changes the rate you’re paying (or how much you’ll save if rates drop). The calculator allows you … Read more
A new study by Aviva finds that a cost-of-living crisis has forced more than a million optimistic first-time buyers under the age of 45 to put their plans on hold. One in five of those surveyed said the cost of living crisis and inflation make buying a home unaffordable. The survey, which focused on those … Read more
The average five-year fixed mortgage rate fell below 6% for the first time in nearly two months as lenders slashed their rates from an October peak. The five-year average fixed interest rate is now 5.95%, down from 6.32% on November 1. The two-year steady average is 6.13%, down from 6.47% at the start of the … Read more
Virgin Money Withdraws 5% Deposit and Help Buy Mortgages Temporarily Due to ‘Market Conditions’ Amid Expectations of Lower Home Prices The lender removes 5% of the deposited mortgages, which are commonly used by first time buyers Home prices are expected to decline leaving them vulnerable to weak equity Some brokers say mortgages can be reduced … Read more
Mortgage ‘time bomb’ warning as homeowners face biggest spike ever – with typical monthly interest payments doubling to £474 – an extra £2,851 per annum Expect the shock to rise after analyzing the numbers released by the Treasury Watch The Liberal Democrats found that a family with a £236,000 mortgage would pay an extra £2,581 … Read more