Despite the increase in the Base Rate to 5% by the Bank of England in June, speculation remains as to when the next rate rise will come and where rates will peak. With the expectation that UK inflation will remain stubbornly high for longer, some experts are forecasting rates to reach as high as 7%…
Whether you have a single buy to let (BTL) or are a portfolio landlord, if you are considering a new purchase or refinancing an existing BTL mortgage, then each lenders’ Interest Coverage Ratio (ICR) requirements/policies will be crucial to your success. In the current times of high interest rates, lenders have set challenging ICRs and…
In March the Equity Release Council issued their 2022 Later Life Lending report. The report highlights that in the UK, property wealth has reached £6.7trillion and £5.2trillion after mortgage debt. A significant portion of this wealth is in the hands of the over 55s. For some, the equity in their home could far exceed the…
During the December festive holidays, many families would have gathered and spent valuable time with parents and grandparents. Often, it’s an opportunity for the older generation to reach out to children/grandchildren to offer financial support at this critical stage in their lives, when they are looking to take that first step onto the property ladder….
In October, we experienced a significant level of uncertainty in the mortgage market resulting in lenders withdrawing a number of residential mortgage products. In the immediate aftermath of the ‘mini-budget’, 5-year fixed mortgages hit rates above 6%, creating anxiety for existing borrowers who were considering refinancing options. Since then, the combination of Rishi Sunak and…
The announcement by the Chancellor, in the March budget, of a mortgage guarantee scheme was the catalyst lenders needed to start focusing again on the low deposit lending market. Some of the biggest banks in the UK have signed up to the scheme and will from April offer 95% loan-to-value (LTV) mortgages. A number of…