Tracker Mortgages – Time to Get Out? Economists and financial experts analysing the mortgage market recommend that now might be the best time to switch from a variable-rate mortgage. This advice comes after approximately 77,900 homeowners opted for variable-rate mortgages in 2023, the highest number since 2017. Currently, the lowest available tracker mortgage rate is […]
Has The Bank Of England Waited Too Long To Cut Rates? Read More »
Base Rate Held At 5.25% At the first Bank of England’s (BoE) Monetary Policy Committee (MPC) meeting in 2024, they unsurprisingly voted 6-3 to maintain the current Base Rate at 5.25% for a fourth consecutive month, backed by the objective to bring inflation down to meet their 2% target. The decision to hold the UK
Base Rate Held At 5.25% While Lenders Increase Rates Read More »
Mortgage Rates Under Pressure The swift rise of swap rates to over 4% marks a critical juncture for the mortgage industry. This increase elevates the cost of borrowing for lenders, directly impacting their profit margins. Fueled by intense competition, the recent trend of reducing mortgage rates faces a sustainability crisis. Lenders can only maintain these
Swap Rates Break Through 4% As Lender Competition Slows Read More »
Mortgage Rates Fall As we step into 2024, the mortgage lending sector is witnessing an intense battle for market share. This competition is unfolding against a backdrop of global financial pessimism, heavily influenced by current UK and world events. The uncertainty surrounding these events is shaping monetary policies, adding layers of complexity to an already
Lenders Fight For Market Share As Swap Rates Increase Read More »
The UK’s largest mortgage lender, Halifax, has slashed rates to remain competitive as major lenders compete to undercut each other. This is excellent news for homeowners and mortgage borrowers for several reasons: Lower Monthly Payments Refinancing Opportunities Increased Buying Power Stimulating the Housing Market Help Ease Financial Stress Attract First-Time Buyers Market Competition Driving Down
January 2024 Kicks Off With A Bang As Lenders Slash Rates Early Read More »
Inflation Falls Below 4% The Office for National Statistics (ONS) announced today that Consumer Prices Index (CPI) annual inflation fell from 4.6% in October to 3.9% in November and is now at its lowest for over two years. Inflation below 4% is great news to end a turbulent year and should continue to ease the
Inflation Falls Below 4% And Swap Rates Continue To Fall Read More »
Base Rate Held At 5.25% The Bank of England (BoE) Monetary Policy Committee voted again today to hold the Base Rate at 5.25% for the third consecutive month amidst concerns that stubborn inflation remaining more than double the BoE’s 2% target is starting to affect the wider economy with fears of a protracted slump or
Bank of England Holds Base Rate At 5.25% While Swap Rates Fall Below 4% Read More »
Nationwide Building Society has reduced selected rates across their range again today, the eleventh reduction in four months, as they try to remain competitive amidst stiff competition from several other lenders jockeying for market share into the first quarter of 2024. The tables below show further Swap Rate reductions in the last three weeks since
Competition Mounts For Market Share In 2024 – Further Mortgage Rate Cuts Read More »
Inflation Forecast In today’s Autumn Statement (for Growth), Chancellor Jeremy Hunt said the Government was on track to reducing debt, cutting taxes, and controlling inflation. With inflation down from 11.1% when he and Prime Minister Rishi Sunak took office to 4.6%, he went on to say the Office for Budget Responsibility (OBR) has forecast inflation
Autumn Statement – Chancellor Forecasts Sub 2% Inflation In 2025 Read More »
Chancellors Autumn Statement Following last week’s figures for inflation and stabilisation of the Swap Rates, some lenders have started to offer further rate reductions ahead of Chancellor Jeremy Hunt’s Autumn Statement tomorrow. This pivotal Autumn Budget will lay out the government’s policy, budget changes, and economic outlook, providing forecasts often used by business planners for
Swap Rates Stabilise As Lenders Offer Further Rate Reductions Read More »
