When is a tracker or variable mortgage a good idea?
With the average two-year fixed mortgage rate now more than 6.5%, some borrowers are being tempted to choose a variable option which they can exit if fixes go lower.
Source: thisismoney.co.uk
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Average 5-year fixed rate breaches 6% - "we could realistically see some fixed rates reach 7%"
"As long as SWAP rates, the rates which banks pay to borrow money, remain high, then fixed rates for mortgages will continue to rise. If core inflation
Source: ifamagazine.com
House prices fall 3.5% in a year says Nationwide
The lender has said the typical person remortgaging from a two-year fix this year could face a £385 monthly payment hike.
Source: dailymail.co.uk
Nationwide June House Price Index: "Ongoing lack of supply may explain the relative stability of prices in June" - reaction
Michael Bailey, director at Preston-based Michael Bailey Estate Agent: "As the Nationwide suggests, a lot depends on the resilience of the jobs
Source: ifamagazine.com
Paradigm adds Gen H to lender panel – Mortgage Strategy
Paradigm has added fintech lender Generation Home to its lender panel. Paradigm member firms will have access to Gen H’s range of residential mortgage products, which aim to support borrowers who are potentially struggling to meet current high-street lender affordability criteria. Gen H offers mortgages to first-time
Source: mortgagestrategy.co.uk