News
Mortgage rates have surged since Brexit vote, says L&C
17+ hour, 58+ min ago (513+ words) Research from L&C Mortgages shows that the average two-year fixed remortgage rate offered by the top 10 UK lenders has increased from 1. 52% on 24 June 2016 to 4. 61% today. Over the same period, the average five-year fixed remortgage rate has risen from 2. 20% to…...
Bank holds rates at 3. 75%
5+ day, 16+ hour ago (1732+ words) The latest inflation data showed CPI remained at 2. 8% in May, unchanged from April and below both market and Bank of England forecasts. While inflation remains elevated, easing food prices and lower energy costs helped offset increases in transport and fuel…...
Cost-of-living squeeze deepens income protection affordability gap
1+ week, 5+ day ago (394+ words) Brokers say income protection is the area of greatest customer need, but affordability remains the biggest barrier to take-up. A survey of brokers at the inaugural LSL Protection Forum in May found that 86% of respondents saw income protection as the…...
IMLA guide explains why fixed mortgage rates can rise before Bank Rate moves
1+ week, 5+ day ago (432+ words) The Intermediary Mortgage Lenders Association said the publications are designed to help advisers, and others in the mortgage market, explain why fixed mortgage rates do not necessarily move in line with the Bank of England's Bank Rate. IMLA said many…...
Nationwide cuts switcher mortgage rates for existing borrowers
2+ week, 1+ day ago (185+ words) The new rates, which apply across two-year, five-year and 10-year fixed-rate products, will take effect from Wednesday 10 June. The switcher range is available to existing Nationwide mortgage customers coming to the end of their current deal, with rates starting from…...
Lenders expecting stability despite global uncertainty
2+ week, 3+ day ago (241+ words) This reinforces the importance of brokers educating clients on the factors that drive rate changes. External events can create sudden shifts in funding costs, making it increasingly important for borrowers to secure suitable products promptly when opportunities arise. In the…...
The 1. 8 million problem nobody's talking about
3+ week, 12+ hour ago (729+ words) UK Finance confirmed it. And before you think "great, more business" " stop. Because the question isn't whether the opportunity exists. It's whether your firm is actually built to take it. Most aren't. And here's the problem. The last decade of…...
Foundation raises maximum residential lending age to 80
3+ week, 21+ hour ago (407+ words) The intermediary-only specialist lender said the change was intended to give brokers more options for clients working later in life, those with altered retirement plans, or borrowers needing greater flexibility around mortgage terms and repayment. The update is accompanied by…...
Lenders urged to do more as purchase market slows
3+ week, 3+ day ago (372+ words) In terms of the overall market, it's been quite stable and positive. The outlook on geopolitical and economic events has been relatively static, but that doesn't mean there's no longer a fear factor surrounding them. We absolutely still need to…...
Property transactions remain resilient despite market volatility
3+ week, 6+ day ago (692+ words) HMRC's latest property transaction statistics showed seasonally adjusted residential transactions fell by 3% month-on-month in April, declining from 103, 910 in March to 101, 030. Compared with April 2025, residential transactions were 53% higher. HMRC said the sharp annual increase reflected unusually weak activity in April last…...