Page 3 - Standard Variable Rate News Today

The number of mortgage products on offer have more than doubled in the space of a year as the market slowly starts to stabilise, a new report by Moneyfacts reveals. According to its latest UK Mortgage Trends Treasury Report, there are now 5,338 options for borrowers – the highest amount since February 2022. The

Drama in the mortgage markets has dominated the financial headlines over the past 18 months as rising interest rates and constant changes to home loans by major lenders have left borrowers adrift.

Almost four out of five (79%) over-55s with fixed rate mortgages are concerned about being able to afford repayments once their current deal comes to an end, new research reveals. Key Later Life Finance's nationwide study of over-55s who have mortgages found 20% of respondents say they are ‘extremely concerned’ about

Mortgage holders across the UK are desperate to know when interest rates will go down as those remortgaging could face a monthly payment rise of £288 on average, new data shows.

People renewing their mortgage over the next 12 months could be £3,456 worse off on average each year.

Savings interest rates are on the rise thanks to Coventry Building Society thanks to recent moves by the Bank of England.

The Bank of England’s Monetary Policy Committee (MPC) voted to make its 14th consecutive base rate increase today. The latest 0.25 percentage point rise means interest rates now stand at 5.25%, a new 15-year high. The hike follows a month in which UK inflation saw a larger than expected drop to 7.9%.

As inflation remains above seven percent, experts have predicted the base rate could increase 0.25 percentage points on Thursday.

Even moving to interest-only deals will cost more than mortgage repayment agreements in December 2021

EXCLUSIVE: Britons are being urged to be proactive to secure their next mortgage deal as analysts predict interest rates to continue to rise.