22 Jul 2025
Mortgage Reforms to Boost Competition and Make Remortgaging Easier
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
The new changes will mean borrowers will be able to reduce their mortgage term more easily, in turn lowering their overall costs and prevent repayments going into retirement.
Reducing the mortgage term by overpaying not only lowers the length of time you are repaying, it also reduces the interest overall. Example:
£200k mortgage over 30 years at 4.75%
£200 extra paid per month
Shave 8 years, 7 months off the term, and save £56,810 in interest.
Remortgaging is also going to be made simpler for homeowners looking to switch to a different lender, ensuring they are getting the best rate available to them.
We encourage borrowers to get advice from an independent mortgage adviser who can assist them in finding the best option for their circumstances.
Recent posts
Autumn Budget 2025 Predictions: Mortgage Market
16 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.
Landlords could face a new tax this autumn
19 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.
Delayed Start Mortgages
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.
Green Mortgages | Rewards and Benefits
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.
More information
Trusted by
