Rising property prices mean homeowners who sold in 2023 made an average profit of £74,000. Gains could help you move up the property ladder, but they could also be useful even if you don’t move and might lead to lower mortgage repayments. Read on to find out if you could benefit from rising property prices. Just 1 in 10 homes …
Homeowners with fixed-rate mortgage deals that end in 2024 could face much higher repayments due to rising interest rates. If your mortgage deal expires this year, being proactive could help you manage your outgoings. High inflation over the last couple of years has led to the Bank of England (BoE) increasing interest rates. In November 2021, the BoE base interest …
If you’re searching for a new mortgage, you could have more options than you expect. While it may present an opportunity to secure a competitive deal, it might also be overwhelming. Read on to find out how you could effectively narrow down your choices. According to Moneyfacts, the number of mortgage deals on offer increased for the sixth consecutive month …
With interest rates at their highest level since the 2008 financial crisis, finding a mortgage deal that’s right for you could save you thousands of pounds over the long term. Following the 2008 financial crisis, the BoE slashed its base interest rate, and it remained below 1% for more than a decade. During the Covid-19 pandemic, it cut the rate …
After more than a decade of historically low interest rates, the Bank of England (BoE) has repeatedly raised the base rate since late 2021 in a bid to control inflation. This has squeezed the budgets of many homeowners who have seen their mortgage repayments increase when their current deal has come to an end. While the BoE held the base …
Data suggests that buy-to-let investors could get greater returns on their investment by purchasing property in the north. As soaring interest rates mean landlords are paying far more in mortgage payments, finding properties with a great rental yield could ease the pressure, but so could securing a mortgage that suits your needs. According to a MoneyWeek report, the north of …
If your current mortgage deal is coming to an end, you might be unsure whether choosing a fixed-rate mortgage is right for you. Read on to discover the advantages and drawbacks you may want to weigh up. The Bank of England has increased interest rates to tackle rising inflation Over the last two years, the Bank of England’s (BoE) base …
As a UK property owner, you may find yourself faced with the age-old dilemma of choosing between mortgage overpayments or diverting excess funds into savings. Making the right decision for your financial situation can significantly impact your long-term financial health and security, and understanding the associated benefits and drawbacks of each route is crucial. TPD Wealth Management, a Stockport-based financial …
When your current mortgage deal comes to an end, your lender will usually offer you a new interest rate to encourage you to remain with them. This is often called a “product transfer”. While choosing this option does have some advantages, you could be missing out on a more competitive deal that may save you money. Read on to discover …
Research suggests almost a third of households are already worried about meeting their mortgage repayments. Now, the Bank of England (BoE) has warned that millions of households could see a significant jump in their repayments by the end of 2026. Read on to understand if your finances could be affected and what your options are. According to a BBC report, …
