The results of the election certainly left the mortgage market … well exactly where it was before the election, but with the added bonus that everyone feels we were in a period of stability.
So much so that with renewed confidence that interest rates will remain low for some time, more and more borrowers don’t want to lock into inflexible long-term deals. Lenders are responding with new competitive variable-rate products, which are proving more and more popular.
TSB are currently leading the way, offering 2 year tracker rates as low as 1.09% (tracking at 0.59% above the 0.5% base rate).
The bank who recently sold to Spain’s Sabadell Bank have also expanded their buy to let range and are currently offering five year fixed rates at an incredible 3.49% for borrowers with a40% deposit!
I think it is safe to say that whatever your politics, the returning government has certainly brought with them confidence in the mortgage market. Long may the rate war continue!
10 days ago
The chancellor will deliver her second budget this autumn. Due to slow economic growth and high inflation, the government need to manage a £40 billion shortfall in public finances. There have already been reports about changes to taxes including income tax and capital gains tax.
13 days ago
The chancellor has advised that landlords could have another tax to pay this autumn as the Treasury decide whether to extend national insurance contributions to rental income.
According to a report in the Guardian, senior ministers have asked Treasury officials to look into a “proportional” property tax to see how it would work as an alternative to the existing stamp duty land tax on owner-occupied homes.
More than a quarter of UK adults in long-term relationships (26%) have reported that despite living together, they keep their finances separate from one another.
There has been a rise in both rent and mortgage costs over the last three years, with renters seeing a greater increase in their monthly payments than those with a mortgaged property.
6 Aug 2025
The new Delayed Start Mortgage launched by Skipton Building Society allows first time buyers to postpone the first three mortgage payments. This product has been designed to help soften the blow of moving in costs for first time buyers.
4 Aug 2025
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.