General

It was predicted a few months ago that interest rates will increase to 1.5% next year. In August, money markets were betting that the rates would actually hit 2.75% in 2023, but after the mini-budget last week, the expected peak is now 6%.

Whilst a 6% interest rate is historically quite low, it was only 0.1% less than a year ago. The level of increase may cause a shock to those who are on, or moving onto, variable rate mortgages.

For example, if you have borrowed £250,000 at 2% interest and rates move to 6%, your payments could increase by over £800 PER MONTH.

There has been a notable increase in the number of homeowners signing up to a property alert scheme to protect against fraudulent property transactions, and yet less than 4% of property owners in the UK have an account, fresh figures show.

Stewart is an Independent Mortgage Broker with over twenty years of experience in the industry and has advised out clients for a couple of years now. He’s kindly shared a few thoughts regarding the current state of the buy-to-let mortgage market and potential opportunities for our clients new and old

In this video, I go through some of the things that you should have in place before you start looking for your next home. From paperwork to credit reports, these tips will put you in a great position!