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fixed rate


Molo Finance enters the residential mortgage market after securing a financing agreement with pension insurer Rothesay. The digital mortgage platform has been offering buy-to-let (BTL) products since 2018, with the new deal allowing the company to enter the residential market. Molo does this with its “FlexLife Mortgage” range, with fixed interest rates available over terms …

The Buckinghamshire Building Society has launched a new five-year fixed rate remortgage contract. The product offers borrowers the opportunity to consolidate debt, raise capital for home renovations, or simply remortgage their existing home loan. The product charges a rate of 2.05% until May 31, 2027, with a product fee of £495. It is available up …

Mortgage rates have risen rapidly since bottoming out in October last year, according to analysis by L&C. The study shows that the average of the 2-year fixed rate products of the 10 major lenders has climbed by 1% since October and the 5-year rates by 0.92%. The same two-year mortgage would cost more than £800 …

According to Legal & General Mortgage Club (L&G MC), advisor searches for lenders willing to accept borrowers in default increased 157% in January, as did options suitable for arrears and missed mortgage payments, which respectively increased 77% and 90%. The findings come as the UK’s cost of living crisis continues to bite. Searches for customers …

BuildLoan and Nottingham Building Society (BS) have launched three ‘cost-based’ mortgage products for people building their own homes. The products offer up to £600,000 and 80% of a client’s construction costs, with interest payments taking effect once construction has started. The first product has an initial rate of 3.8% for two years and a completion …

Over 50-year-old mortgage lender LiveMore Capital has secured a £275m funding line with NatWest Markets. The funding will facilitate the growth of LiveMore’s portfolio and the origination of loans for interest-only mortgage products. The lender says it is now able to reinvent end-of-life mortgages and “mobilize the entire financial services industry towards fairer and more …

The Suffolk Building Society has launched new two and five year 95% LTV patches. The products, aimed primarily at the first-time buyer market, will also include independent candidates and those looking to buy a new home. The rate on the two-year contract is 3.25%, fixed until April 30, 2024. After this period, the rate reverts …

Shutterstock/Photobank.Kiev.UA Many buy-to-let (BTL) professionals are optimistic about the market outlook after a strong 2021. Mortgage strategy cited good mortgage availability, easing criteria and low rates as reasons for their optimistic outlook. This positivity is despite tougher tax conditions for homeowners and the threat of additional costs to improve the energy efficiency of homes, which, …

Santander says its mortgage customers have overpaid £335million on their mortgages so far this year, or more than £47.5million a week. The bank points out that these overpayments, which are 50% higher than overpayments made at the same time last year, can have “a significant impact” on the interest that owners pay throughout the term. …

Atom Bank has launched several exclusive two-year fixed rate quasi-premium product offers for Sesame Network advisors. The app-only lender indicates that the products are available in different LTV ranges, such as a 75% LTV option with a rate of 2.89% or a 70% LTV product with a rate of 2 .74%. He adds that customers …

Paragon Bank has doubled the period that buy-to-let customers can lock in a mortgage rate from three months to six months. It says it will offer brokers a 0.30% proxy fee for each product change they present to the lender. The company sells a range of two- and five-year fixed rate products aimed at those …

More than half – 52% – of mortgages in 2021 were on a five-year solution, LMS’ annual mortgage report shows. Meanwhile, 37% of mortgages taken out were of the two-year type and only 2% at a 10-year fixed rate. Overall, mortgage activity increased in 2021, “with a steady increase in instruction and completion volumes following …

Halifax Intermediaries will make price changes to select products for first-time buyers and movers, including affordable housing – share shares and condominiums, on Monday, February 14. The broker-only subsidiary says the move will cut rates by up to 34 basis points on certain fixed-rate products from 85-90% to two-year fixed and five-year fixed-rate offerings from …

Jon Cooper, Head of Mortgage Distribution, Aldermore Owners are experts at dealing with change. They’ve had a lot of practice over the past 10 years. But the next hurdle is high. Minimum energy efficiency standards are set to tighten considerably in just three years if the government’s proposals come to fruition. And properties that aren’t …

Knowledge Bank has added West One Loans buy-to-let criteria to its search platform. West One revamped its buy-to-let loan credentials last month and they have now been included in Knowledge The Bank’s platform, which includes more than 135,000 individual criteria covering more than 270 lenders. West One’s BTL Managing Director, Andrew Ferguson, said: “As a …

Virgin Money has launched three new fixed-rate offers and reduced the price of one of its longer-term mortgages. The three new products are all available at up to 75% LTV, charge a fee of £995, come with £1,000 cashback and consist of: A seven-year fix at 1.89% A 10-year fix at 1.89% A 15-year fix …

HSBC has reintroduced a sub-1% mortgage rate as part of a product renewal. The big bank says the move will make it cheaper to access or move up the property ladder, or mortgage with the lender when a current fixed-rate loan comes to an end. It says sub-1% new mortgages, with a fee of £999, …

Platform has made a number of cuts to its high-ratio mortgage products. The middle arm of The Co-operative Bank has also reintroduced two-, three- and five-year fixes in the 60%-75% LTV range, which charge a fee of £999, and five-year fixes in the same range free of charge. Rate cuts occur up to 25 basis …

There has been a long road to recovery since the 2008 financial crisis and its impact on homeowners has been the driving force behind most of the regulatory developments that have taken place in the UK since. After the crisis, the regulator introduced a new lending framework through the Mortgage Market Review and, while established …

Landbay said it has reduced some rates on its rental mortgage lineup and added new homes to its green loan portfolio. The rental loan platform reduced rates from 0.14% to 0.29%, with its lowest rate now set at 2.65% for a two-year fixed rate at 65% of the loan-to-value ratio, against 2.85%. Product discount highlights …

House prices in England and Wales will recover from a December drop in the first two months of next year, according to Reallymoving analysis. The firm says that after a monthly drop of 1.1% in December, house prices are expected to rise 2.5% in January 2022 and 0.2% the following month. This equates to an …

The platform increases its SVR (standard variable rate) following the increase in the base rate of the Bank of England from 0.10% to 0.25%. The bank’s SVR will drop from 4.34% to 4.49% effective today, Monday, December 20. For existing customers, the change to 4.49% SVR will not come into effect until February 1, 2022. …

An average homeowner on a Standard Variable Rate (SVR) could save more than £ 5,000 in payments by switching to a new two-year fix, Experian’s analysis shows. The calculation assumes a mortgage of £ 150,000 over 20 years on an SVR of 4.49%, with a monthly repayment of just under £ 950. With a new …

Hanley Economic Building Society launched two residential fixed rate mortgages. The first is a fixed rate mortgage of just 1.75% over two years and 80% LTV, which comes with a free standard appraisal and free legal fees. The second is a five-year 95% LTV fixed rate offer with an aggregate rate of 3.45%, which is …

MPowered Mortgages has launched an Eco EPC range, which offers a 10 basis point discount on rates for all properties with an energy rating of A, B or C. The digital platform indicates that the discount on its new green range is available on the range’s two, five and seven year fixed rate products (excluding …

Kensington Mortgages is launching its first long-term fixed rate mortgages tomorrow, allowing borrowers to freeze their monthly payments between 11 and 40 years. Flexi Fixed for Term offers are priced differently depending on the term chosen and the amount borrowed, but are available up to 95% LTV for new purchases or up to 85% LTV …

The Bank of England (BoE) holding the base rate at 0.10% today sparked a frenzy of commentary from market watchers – indeed, it came as a surprise. The majority of commentators so far agree that the decision is a good thing for the mortgage industry. “Despite growing pressures to tackle rising inflation, it’s encouraging to …

The platform hikes rates up to 44 basis points on some products on Wednesday as part of a major price review. The lender also reduces the rates on a number of transactions. In the new line of business of the lender, it makes the following changes: To integrate Two, three and five year fixed rate …

As of this writing, I have recently attended several industry events. Many people in the mortgage industry seem eager to reconnect with the potential risks that still exist, including me! It looks like rental investors (BTLs) are feeling the same, with two busy days at the Consumer Real Estate Investor Fair a few weeks ago. …

You might be able to go back, but I would be surprised if you remember exactly what you were doing on March 21, 2016. This date, however, was momentous for the entire mortgage market – and in particular for advisers, as it saw the introduction of the Mortgage Credit Directive (MCD) into UK financial services …

Santander for Intermediaries will launch two remortgage deals tomorrow (September 9) and make discounts of up to 20 basis points on selected residential products in its new lines of mortgages for new business and product transfer. While the Dudley Building Society claims to have “opened” its line of self-employed mortgages with one year of accounts. …

If you were to become self-employed, you would hire a qualified accountant. If you wanted to write a will, you would hire a qualified lawyer. If you were not well, you would obviously seek advice from a qualified doctor. Using this logic, then, it makes sense that when it comes to your biggest asset – …

HSBC cut rates on its entire range of mortgages to 0.20%, leading to an offer of less than 1%. The discount applies to over 20 mortgage products on all LTVs, including the bank’s 95% LTV mortgage guarantee program rates. Following the update, the two-year 60% LTV fix, with a fee of £ 999, now comes …

Habito returned to 80% loan-to-value, across its buy-to-lease range for two- and five-year fixed rate products. The online mortgage company has also cut rates for its existing fixed products to 75% LTV over 5 years. Habito’s 80% LTV, two-year fixed rates start at 3.89% and five-year fixed rates start at 4.15%. Its five-year 75% LTV …

HSBC UK is reducing rates on all LTVs in its range of mortgages, up to 0.30%. The lender made the move because it recorded its busiest month in terms of mortgage lending in March and onboarded more than 100 brokerage firms in the past eight weeks, for a total of 400 partner brokerage firms. Highlights …

Habito has launched a fixed rate mortgage with a term of up to 40 years. Available from 60 percent LTV to 90 percent LTV, Habito One begins with a 10-year option and increases from five years to 40 years. Habito said it plans to introduce a 95% LTV option “later this year”. At 60 percent …

“Old Fashioned” Mortgage Offers: Why Bother? We live in the internet age and yet it is common to receive a mortgage offer in the mail. Why do you get such offers, and are they good? The answers may surprise. Check your new rate (November 26, 2021) The mortgage offer and targeted marketing “You have no …