Mortgage rates rise but still remain low

Since the start of 2022 interest rates have risen by 0.5%, however for those looking to purchase a home many mortgage rates remain attractive.

It is estimated over 1 in 4 households are on mortgage deals affected by changing interest rates (UK Finance), but the average 2 year variable rate published by the Bank of England is actually lower than a year ago.

At 3.99% the revert-to-rate is 0.37% higher year-on-year. For those with a 25% deposit the current 10-year fixed rate is just 0.33% above the 2-year fixed rate.

Back in 2008 when the base rate was last 0.75% and in 2014 when affordability tests were introduced, rates were far higher. The next meeting of the Banks Monetary Policy Committee is on Thursday 5th May. Source: Dataloft, Bank of England, For general information only. Specialist advice on investments must always be sought.

Get in touch with us

First Name

Last Name

Mobile Phone

Your Email Address

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)

Confirm

Avoid the pitfalls of overpricing your home when trying to sell

Overpricing your home can have detrimental consequences which can be very difficult to rectify. In this article we explore the reasons that overpricing properties happens and how to ensure that you avoid it so that you have a successful sale.

CLICK HERE >

The Truth About Kerb Appeal And How It Could Maximise Your Property Sale

Most homeowners would like to sell their homes for as much money as possible, and the best way to do that is by attracting potential buyers to come for a viewing. Could the key to a successful sale be before a viewer has even stepped inside??

CLICK HERE >

Should you negotiate with the agent over their fees when selling your home

Should you haggle with the agent over their fees? Is it true that if they can't negotiate well with you, they won't be any good when you get an offer? Or does it start the relationship off on the back foot?

CLICK HERE >

Jumpstart Your Property Investment Journey Without Paying Out For A Course

You may have seen property gurus filling up your social media feeds with tales of how they bought a number of properties without using any of their own savings, and now they have retired at the age of 32 with a portfolio worth £10m. And of course, for the princely sum of £997, you can learn how to do this too.

CLICK HERE >