The Bank of England (BoE) has today raised interest rates by a further 0.5% taking the Base Rate from 3% to 3.5% in their ninth consecutive increase in the last 12 months with the rate now at it’s highest level since October 2008 in an attempt to control inflation that fell from 11.1% to 10.7% […]
BoE Increase Base Rate By 0.5% To 3.5% Read More »
A continued reduction in Swap Rates has led to lenders making further rate reductions with the comeback of Tracker mortgage products currently seen to be the best value for money.
Further Mortgage Rate Reductions As Swap Rates Continue To Fall Read More »
What Are Swap Rates ? Swap Rates are the interest rate mortgage lenders pay financial institutions to acquire funding for a set period time i.e. 2, 5 and 10 year terms which are used to set the price for mortgage rates offered. Why have swap rates become more volatile ? Volatility and uncertainty drove up swap rates
Swap Rates Falling – Lenders Reducing Mortgage Rates Read More »
Bank of England (BOE) have today increased their interest rate by 0.75% taking the Base Rate to 3.00% in an attempt to control rising inflation with factors including the ongoing cost-of-living crisis, Putin’s war in Ukraine, Liz Truss’ catastrophic ‘mini-Budget’ and later resignation have all contributed to the rise. Lenders are withdrawing products to re-price
BOE Increases Rates By 0.75% Read More »
Fixed rate mortgages have hit the highest level seen since the 2008 financial crisis with 2-year fixed rate average standing at 6.53% and 5-year fixed rates coming in at 6.36% (data from Moneyfacts). Yesterday the new Chancellor Jeremy Hunt ripped up former Chancellor Kwasi Kwarteng’s mini-Budget after which the cost of borrowing dropped and the
Fixed Mortgage Rates Hit Highest Level Since 2008 Financial Crisis Read More »
In a meeting with some of the UK’s biggest mortgage lenders today Chancellor Kwasi Kwarteng pledged to work closely with the financial sector to provide the best value on mortgage rates as they continue to rise following his ‘fiscal event’. Over the past 24 hours the average 2 & 5 year fixed rate mortgages breached
Chancellor Pledges To Work Closely With Financial Sector On Mortgage Rates Read More »
Yesterday was an day like no other with the vast majority of mortgage lenders withdrawing products because of the increasing cost of money on the money markets (swap rates) following the Chancellors mini-budget last week in which he cut taxes and stamp duty. The negative effects of the mini budge are being met with a
Lenders Withdraw Products & Further Interest Rate Rises Predicted Read More »
The Bank Of England (BOE) have today increased the Base Rate by 0.5% to 2.25%
BOE Increase Rates By 0.5% Read More »
