Halifax Mortgage Rates Increase, Exceeding 7%, as Market Awaits Inflation Data Halifax has recently raised its mortgage rates by up to 0.6 percentage points. This change affects several fixed products, with some now exceeding 7%. Lenders continue to adjust rates based on the expectation of further rate increases. These changes impact home buyer loans, including …
According to Halifax, house prices are experiencing a slight downturn but are rising in certain areas. However, experts warn that this decline could be long-lasting and have a detrimental effect on borrowers and homeowners. Rather than a sudden shock, the damage to the market will be gradual and spread out over many years. Estate agents …
Recently, the Bank of England has gone back on its promises of gradual and limited interest rate increases, instead opting for sudden and harsh hikes. This has had a significant impact on homeowners, especially those in their 20s, 30s, and 40s, who are now facing increased monthly mortgage payments. This generation, which includes myself and …
Mortgage defaults have seen a significant rise of 30% in the span of three months, according to the Bank of England. Furthermore, lenders anticipate that more borrowers will struggle to make their payments due to the surging rates. In contrast, there has been a notable increase in the demand for credit cards as households grapple …
During the height of the pandemic in 2020, my husband and I took the opportunity to purchase our first home. The value of our house was £350,000, and we decided on a 5-year fixed rate mortgage at 1.99 percent, with a repayment term of 20 years. Currently, we still have £240,261.70 remaining to pay, with …
Mortgage rates are nearing the levels observed following the infamous mini-Budget led by Liz Truss last year. According to analysts MoneyfactsCompare, the average two-year fixed rate deal has reached 6.63%, just shy of the 6.65% peak recorded on October 20. This is the highest figure since November 2008, during the global financial crisis. Banks and …
One of Britain’s wealthiest aristocrats is selling his sprawling 9,500-acre estate, which includes a caravan site and a pub, for a staggering £35 million. Lord Max Percy, the youngest son of the Duke and Duchess of Northumberland, has decided to put Rothbury Estate on the market. The estate, which has been in the Percy family …
According to Knight Frank’s latest Global House Price Index, the UK’s position in global rankings for house price growth has dropped significantly from 26th to 47th place over the past year. Property prices in the UK have experienced a year-on-year decline of 3.1% and a decrease of 5.6% in the last six months. The UK …
In April, I took advantage of a variable discounted mortgage product with the expectation that interest rates would continue to decrease and I could secure a better deal. However, the current trend shows that rates are rising, leaving me in a bit of a bind. Currently, I have an 11-year mortgage with a balance of …
As my five-year mortgage term comes to an end, I am faced with the challenge of navigating a complex and expensive home loan market. One major change I have noticed is that five-year mortgages now tend to be cheaper than two-year deals. This goes against my previous experience, where shorter-term mortgages typically had lower rates. …