{"id":770,"date":"2022-11-23T12:36:00","date_gmt":"2022-11-23T12:36:00","guid":{"rendered":"https:\/\/www.kinnison.finance\/?p=770"},"modified":"2022-11-24T00:42:53","modified_gmt":"2022-11-24T00:42:53","slug":"remortgage-rates-fall","status":"publish","type":"post","link":"https:\/\/www.kinnison.finance\/remortgage-rates-fall\/","title":{"rendered":"Residential remortgage rates fall"},"content":{"rendered":"\n

In October, we experienced a significant level of uncertainty in the mortgage market resulting in lenders withdrawing a number of residential mortgage products.<\/strong><\/p>\n\n\n\n

In the immediate aftermath of the \u2018mini-budget\u2019, 5-year fixed mortgages hit rates above 6%, creating anxiety for existing borrowers who were considering refinancing options.  <\/p>\n\n\n\n

Since then, the combination of Rishi Sunak and Jeremy Hunt has brought some stability to the market and we are now beginning to see rates drop.<\/p>\n\n\n\n\n\n\n\n


Residential remortgage rates<\/h2>\n\n\n\n

2-year fixed\/tracker<\/h3>\n\n\n\n

Detailed below are the monthly payments (capital and interest) based on a 25-year mortgage of \u00a3250,000 with an initial 2-year fixed or tracker term. Max LTV 75% – property value \u00a3335,000<\/p>\n\n\n\n

Product
max LTV
 \u2264 75%<\/td>		Initial
Rate<\/td>		Follow on
SVR<\/td>		Initial
monthly
payments<\/td>		Remaining
monthly
payments<\/td>		Lender
arrangement fee<\/td>		Total
amount
payable*<\/td>		APRC<\/td><\/tr>
2-year fixed<\/td>5.35%<\/td>6.49%<\/td>\u00a31,518.93
(27 payments)<\/td>		\u00a31,681.12 
(273 payments)<\/td>		\u00a3995<\/td>\u00a3499,986.87<\/td>6.50%<\/td><\/tr>
2-year tracker
(0.75% + BBR)<\/td>		3.75%<\/td>6.49%<\/td>\u00a31,290.49
(24 payments)<\/td>		\u00a31,665.16
(276 payments)<\/td>		\u00a3999<\/td>\u00a3490,796.20<\/td>6.20%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

*Includes product or application fee, completion fee, mortgage discharge fee and cashback (if applicable)
BBR – Bank of England Base Rate<\/p>\n\n\n\n

<\/p>\n\n\n\n


5-year fixed\/tracker<\/h3>\n\n\n\n

Detailed below are the monthly payments (capital and interest) based on a 25-year mortgage of \u00a3250,000 with an initial 5-year fixed or tracker term. Max LTV 75% – property value \u00a3335,000<\/p>\n\n\n\n

Product
max LTV
 \u2264 75%<\/td>		Initial
Rate<\/td>		Follow on
SVR<\/td>		Initial
monthly
payments<\/td>		Remaining
monthly
payments<\/td>		Lender
arrangement
fee<\/td>		Total
amount
payable*<\/td>		APRC<\/td><\/tr>
5-year fixed<\/td>5.28%<\/td>5.59%<\/td>\u00a31,508.53
(61 payments)<\/td>		\u00a31,547.39
(239 payments)<\/td>		\u00a3995<\/td>\u00a3462,314.54<\/td>5.70%<\/td><\/tr>
5-year tracker
(1% + BBR)<\/td>		4.00%<\/td>6.49%<\/td>\u00a31,324.87
(60 payments)<\/td>		\u00a31,628.77
(240 payments)<\/td>		\u00a3999<\/td>\u00a3470,638.00<\/td>5.60%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

*Includes product or application fee, completion fee, mortgage discharge fee and cashback (if applicable)
BBR – Bank of England Base Rate<\/p>\n\n\n\n

Your home or property may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it<\/strong>.<\/p>\n\n\n\n

In these times of uncertainty we recommend that you\/your clients review current residential mortgage arrangements.  Other products, repayment options and mortgage terms are available.
<\/p>\n\n\n\n

\n\n\n\n


Get in touch<\/h2>\n\n\n\n

If you wish to discuss your\/your client\u2019s personal circumstances with a member of our team, please call us at +44 (0)20 3871 2823 or email at info@kinnison.finance<\/a><\/p>\n\n\n\n

For mortgages above \u00a31m, the initial mortgage rate and LTVs may vary. Please contact the team for more details.<\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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 \u2018mini-budget\u2019, 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…<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":777,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,20,28],"tags":[26,27,25,24],"_links":{"self":[{"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/posts\/770"}],"collection":[{"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/comments?post=770"}],"version-history":[{"count":8,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/posts\/770\/revisions"}],"predecessor-version":[{"id":779,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/posts\/770\/revisions\/779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/media\/777"}],"wp:attachment":[{"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/media?parent=770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/categories?post=770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kinnison.finance\/wp-json\/wp\/v2\/tags?post=770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}