News

The Bank of England has warned that mortgage payments for half of homeowners will rise over the next three years, putting 4.4 million households under financial pressure. Among these, about 420,000 households could face increases of £500 or more per month. This trend stems from rising interest rates as the Bank works to combat inflation. While some borrowers have been shielded by fixing their rates before the increases began in late 2021, others may soon feel the pinch as they remortgage or move to variable rates. With 2025 approaching, now is the time to plan for these changes and protect your financial stability.

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As we approach 2025, the latest interest bank rate cut to 4.75% (November), the lowest level in over a year, gives homeowners and buyers a moment to review their mortgage options. While this is a positive sign, 4.75% is still high compared to the low rates of the past, so it’s essential to weigh your mortgage choices carefully as you plan ahead.

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As we approach the end of 2024, many homeowners are facing the need to remortgage. If your mortgage deal is coming to an end soon, it’s essential to start planning now. Acting early can provide you with a wider range of options and prevent the stress of last-minute decisions.

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During the state opening of parliament on July 17th, The Labour government outlined its plans to reform the Mental Health Act, focusing on improving mental health provision. In alignment with these government efforts, insurance providers have enhanced policies which include benefits that cater to people, young and old. So how can they support you?

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In today’s competitive housing market, saving for a mortgage deposit can feel like a daunting task for many aspiring homeowners. However, with careful planning and disciplined saving habits, achieving this financial milestone is within reach.

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As the mortgage market continues to evolve, staying informed is key to securing the best deal when purchasing a home. Several factors influence the mortgage landscape, and being aware of these can enable you to make informed decisions.

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As inflation remains high, it’s the perfect time to take a closer look at how it could impact you. Whether you are behind on payments, looking to stretch your finances or coming to the end of your mortgage term, there are options available to help you.

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As your fixed rate mortgage term approaches its end, it’s essential to carefully consider your next steps. This critical moment presents an excellent opportunity to reassess your financial situation and evaluate your circumstances.

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The Mortgage Charter is a new set of rules that helps people when they’re trying to get a mortgage to buy a house, it’s like a guide that mortgage lenders have to follow. So what’s the purpose of the Mortgage Charter and how does it impact you?

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In July, both two and five-year fixed-rate deals dropped by 0.02% for the first time since May. Although the forecast for further changes is uncertain, the initial drop in rates is promising and could lead to a more favourable environment for prospective buyers if rates continue to fall in 2023.

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