MoneySavingExpert News

Mortgages

Mortgage rates: what you can and should do (if anything) amid the market turmoil

At the start of the week, several major lenders pulled their deals from the market completely. Since then, many others have either withdrawn their fixed-rate offers or replaced them at hugely increased rates. As the market turbulence continues, here's what you can do.

4 October 2022

Rates on 10-year mortgage fixes are cheap right now – should I be locking in for longer?

Homeowners have increasing reason to consider longer term mortgages over shorter deals, as the cost of borrowing grows.

4 October 2022

Bank of England increases base rate to 2.25% – what the rise means for your mortgage and savings

The Bank of England has increased the base rate to 2.25% from 1.75%. This rate is used by the central bank to charge other banks and lenders when they borrow money – and influences what borrowers pay and savers earn.

27 September 2022

Mortgage lenders lengthen product transfer periods to allow homeowners to lock in new deals earlier – here's what you need to know

Several major lenders have increased how far in advance existing borrowers can lock in a new mortgage deal as interest rates rise. It comes as many homeowners look to start the process of lining up a new mortgage earlier than usual, hoping to get a cheaper deal and stay ahead of future rate hikes after the base rate hit 2.25% in September.

27 September 2022

Bank of England increases base rate to 1.75% – what the rise means for your mortgage and savings

The Bank of England has increased the base rate to 1.75% from 1.25% - the biggest single rise in 27 years. This rate is used by the central bank to charge other banks and lenders when they borrow money – and influences what borrowers pay and savers earn.

9 August 2022

Mortgage holder alert as new figures reveal 370,000 are overpaying – can you save £1,000s/yr? Here's how to check

Hundreds of thousands of homeowners are overpaying on their mortgage because they're languishing on their lender's standard variable rate, new data from the financial regulator has revealed. Yet savings of £1,000s a year may be available if homeowners remortgage to more competitive deals – something they may want to consider sooner rather than later with further interest rate rises expected.

3 August 2022

Help to Buy equity loan scheme to close to applicants in three months – here's what you need to know

Almost 10 years since its original launch, the Government's equity loan scheme will close for good in March 2023, but anyone who wants to take part needs to apply by 31 October 2022.

29 July 2022

Watch: Martin Lewis issues stark warning to Tory leadership candidates to act over 'financial time bomb' in video open letter

MSE founder Martin Lewis warns Conservative Party leadership hopefuls that they must act as quickly as possible to prevent a "national financial cataclysm".

19 July 2022

Thinking about fixing your mortgage for 10 years or longer? Here are the pros and cons

Fixing for a decade can be done for as little as 3.33% right now and is becoming more appealing as the Bank of England base rate continues to rise. But there are pros and cons to doing so - here's what to watch out for.

8 July 2022

Ground rent ban on new leases takes effect – what you need to know

Homebuyers who purchase a new leasehold property will no longer have to pay ground rent from today, as long-awaited legislation kicks in. The move could result in savings of £100s a year for homeowners – though new and existing leaseholders still need to beware the dangers of a short lease, as we explain below.

30 June 2022