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You could lock into a fixed mortgage rate now, but there’s always the chance that you could have got a better rate if you opt for a variable rate. While explaining what factors are considered when pricing these mortgages, we’ve also outlined how these prices could trend in the future.
Borrowers are benefiting from an increase in mortgage options, according to the latest Moneyfacts UK Mortgage Trends Treasury Report. The encouraging rise in products comes around six months on from the unprecedented uncertainty surrounding interest rates following the fiscal announcement.
New research from Roy Morgan shows an estimated 1.35 million mortgage holders (27.1%) were ‘At Risk’ of ‘mortgage stress’ in the three months to March 2023. This period encompassed one interest rate increases of 0.25% taking official interest rates to 3.6% in early March.
The total number of residential mortgage products is on the rise - above 5,000 for the first time since May 2022. This is according to the latest UK Mortgage Trends Treasury Report from Moneyfacts. Product choice is up month-on-month to 5,146 options, breaching 5,000 for the first time since May 2022 (5,087) and the
If you're looking to buy your first home, chances are finding out how to get a mortgageis pretty high on your to-do list. As a mortgage is a big financial commitment, it's... | April 19, 2023