Millions of mortgage holders have either been hit with a huge rise in repayments this year, or will shortly see costs soar. Yet some five-year fixed rate deals for new borrowers are at an all-time low. So is it time to consider a new home loan?
House prices have recorded their biggest year-on-year decline in almost three years amid the toughening economy, Nationwide Building Society reveals today.
Competition to attract mortgage customers has stepped up, as HSBC today launches a five-year fixed-rate deal with a record low rate amid a time of rising rates and economic uncertainty.
A wide-ranging shake-up of the mortgage market was unveiled by the financial services regulator today, aiming to prevent a return of irresponsible lending and stop borrowers taking out unaffordable deals.