Whatever your politics, headlines warning of the “Unchartered Territory” and predictions on the vote around the “Withdrawal Agreement” mean we are heading into uncertain times.

In 2018, Mortgage Required’s clients opted for a 5-year fixed rate 28% of the time. The highest since number since we opened in 2001.

Brexit is not the only reason clients are deciding to fix their rates for longer, with 5-year rates as low as 2.09% for borrowers with plenty of equity in their properties, and at 2.29% for borrowers with a 10% deposit there has never been a better time to hedge your bets and fix for longer.

Depending on who’s research you read, between 25 and 30% of borrows are currently on their lenders “Standard Variable Rate” (SVR). This means they are paying a rate set by their lender who can put it up (or down) whenever they fancy. On average lender’s SVRs are around 2.5% higher than the fixed rates they are offering and this means borrowers could be paying up to £4,000 per year more than if they switched to a new deal.

So, whether it’s a “deal or no deal” now is the time to get fixing!

For more information on fixing your mortgage, please call the team on 01628 507477.

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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.

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. 

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.

Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.

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.