If you are dithering, now is the time to act! It’s time for a quick decision, today is the day!
It looks like mortgage rates are on the increase. Scottish Widows, Halifax and NatWest have all announced they are withdrawing rates this week and new products will have higher rates.
If you are already on a fixed rate, give yourself a pat on the back, if you are in the process of applying for a fixed rate – you’ve done well, if you are sitting on your lender’s standard variable rate…. you need to do something. TODAY!
It was back in March 2009 that the Bank of England’s Monitory Policy Committee (MPC) voted to decrease the base rate to the all-time low of 0.5%. Following the Brexit vote in the summer of 2016, the MPC reduced the rate further to 0.25% , in order to stabilise the economy
I’m not sure if it’s the predicted inflation, Theresa May’s Tory Conference Speech or the progress with Brexit negotiations, but lenders are starting to edge their interest rates up a couple of blips. It could of course just be that they have had enough of not really making any money out of borrowers who are paying a meagre 1.2% interest.
Despite economic forecasters predicting rate increases every other month for the last 6 years, nothing has happened with the bank of England base rate. Last month, 2 out of 9 members of the MPC voted for an increase. The latest talk is of an increase by the end of the year. Who know when it’s coming, but we seem to have seen the start.
Today is the day.
Recent posts
Getting on the property ladder is a big milestone in life, and is not something to take lightly. There are several things to take into consideration such as saving up for a deposit, finding your dream home, and finding the best mortgage product to suit you. Here we look at UK first time buyer statistics.
Can I get a mortgage without a deposit?
13 days ago
If you are struggling to get over the hurdle of saving enough deposit due to being in a rental property, but wish to purchase your own home, you may be able to with a 100% mortgage. You will need to meet certain requirements and be financially stable.
Reasons to Remortgage your Home
19 Mar 2024
If you are looking at remortgaging your property but you are unsure whether it’s the right decision, we have listed five reasons why it might be for you.
Debt Awareness Week | Consolidating Debts
12 Mar 2024
As the cost-of-living crisis continues, many people across the UK are struggling financially, many of whom are finding it hard to get debt-free.
According to research by StepChange, there are five common reasons people don’t seek help and advice with debt concerns.
Friyay Rate Reviews
6 Feb 2024
Every Friday our experts search the market for the latest rates from every lender saving our clients some serious £'s!
Looking to Extend?
2 Feb 2024
Are you looking to extend your property? There are many benefits to adding an extension to your existing home, here are a few.
Why should you consider Equity Release?
30 Jan 2024
Put simply, Equity Release is where you can release equity (money) tied up in your home for any purpose you like. In this short article, we share some reasons why you may want to consider Equity Release.
How to cut your food shopping bill
17 Jan 2024
The team at Mortgage Required may not be able to lower the prices in your local supermarket, but we have come up with a list of tips to help you lower your food shopping bill.
More information
Trusted by
