Page 11 - Standard Variable Rate News Today

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.

The average British homeowner has been on the mortgage ladder for 13 years - but 49 per cent have never switched their deal, according to Barclays.

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.

The founder of Gloucestershire-based The Mortgage Brain has shared an insight into what homeowners need to know if they are looking to remortgage.

Country: Australia Source: Roy Morgan Single Source (Australia), average interviews per 3 month period April 2007 – May 2021, n=2,674. Base: Australians 14+ with owner occupied home loan. New research from Roy Morgan shows an estimated 677,000 mortgage holders (17.3%) were at risk of ‘mortgage stress’ in the three months to May 2021. This period encompassed the end of the JobKeeper wage subsidy (end of March 2021), lo...

UK borrowers impacted by pandemic face rising mortgage payments, L&G warns UK borrowers who have suffered a drop in income during the pandemic could soon be paying thousands of pounds more in monthly mortgage repayments, according to the latest research.  The survey by Legal & General Mortgage Club found that one in three borrowers are considering staying on their current lender’s Standard Variable Rate (SVR) once their existing mortgage product expires. According to the ana...

Trending “It’s vital they avoid falling onto a reversion rate and paying more when there are other options available. “COVID-19 may have dampened the confidence of a large number of borrowers wanting to lock into a new rate, yet the cost of not exploring their refinance options could be significant. “Even for those borrowers who have seen a reduction in income, there may well be products available that would save them money in the long term when compared to their lender’s SVR.” Some...

UK Parliament Lords votes on changes to Financial Services Bill 15 April 2021 2021 The House of Lords continued report stage, a further chance to closely scrutinise a bill and make changes, of the Financial Services Bill on Wednesday 14 April. Members discussed limiting retention of personal data to five years, regulation of bailiffs and bailiff firms and the contribution of financial services companies to climate change targets. Sharia-compliant financial s...

MARTIN LEWIS has urged the Government to take additional action to help rescue mortgage prisoners from existing arrangements.

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