There was talk it was going to happen, and last week we finally saw something we never dreamed would actually take place. The Bank of England has slashed the base rate from the historic low of 0.5% (reached in March 2009) to just 0.25%. This reaches a new low that many will never have seen … Continue reading “Will Interest Rate Cut Lead to Cheaper Mortgage Payments?”

Whichever way you voted in the referendum on whether to stay or leave the European Union, you are probably aware of the current situation. There is ongoing uncertainty surrounding the task of thrashing out a deal with the EU. One minute we seem to be close to a deal, the next… everything seems far more … Continue reading “Will Mortgages Be Affected by Brexit: Information about Leaving the EU”

2014 was the year we saw the Mortgage Market Review regulation (MMR) come into force in the UK. It led to vast changes in the way mortgage applicants were considered for a loan. Now the market is on the verge of another major change. This is due to the European Mortgage Credit Directive, otherwise referred … Continue reading “Will New EU Rules Hit UK Mortgage Lending?”

Woolwich has launched a new product to assist first time buyers in getting onto the property ladder and has announced changes to its product criteria with effect 18th June 2012 The new First Time Buyer Mortgage Product The lender has launched a new product call Helpful Start which is aimed at first time buyers who … Continue reading “Woolwich launches an innovative new product aimed at First Time Buyers”

The ongoing trend towards greater competition in the buy-to-let mortgage market stepped up a notch today, when the Yorkshire Building Society said that it will be loosening its lending criteria for such deals offered to borrowers in England and Wales. It was last August that the building society first started offering buy-to-let mortgages, via its … Continue reading “Yorkshire Softens Buy-To-Let Mortgage Criteria”

As we have previously reported there are new mortgage rules coming into force in the near future that look set to provide further hurdles for those looking to get mortgages. This week mortgage brokers have highlighted the further challenges faced by those who work on zero hour contracts making home ownership even more difficult to … Continue reading “Zero Hour Contracts Present another Hurdle for Home Buyers”