Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
Embarking on the journey to apply for a mortgage as a first time buyer is undoubtedly an exciting but often anxious time. Navigating today’s complex mortgage market has become increasingly complex. An independent mortgage broker becomes your indispensable ally. Beyond being a mere intermediary, a mortgage broker is your guide through the intricacies of today's dynamic mortgage market, offering essential specialist mortgage advice.
The Bank of England has finally decided to hit the pause button on the base rate, holding it steady at 5.25%. After fourteen consecutive rate hikes since December 2021, they've decided to give us a breather. But what does this mean for homeowners?
Imagine talking with your mortgage broker on a Monday morning, and learning of a mortgage product, with an agreeable rate for you. But come Friday that rate has increased to the point whereby monthly mortgage repayment figures have gone up by £400! Well, we have indeed had incidents whereby this has happened. And it’s happening to varying degrees weekly. So we are URGING mortgage-seekers across the UK to be ‘mortgage document ready’.
The UK mortgage landscape has experienced a significant shift, with rising mortgage rates becoming a growing concern for homeowners. However, amidst these uncertainties, the UK Mortgage Charter has emerged as a beacon of hope, offering practical ways to help UK homeowners during remortgaging and providing peace of mind in these challenging times.
As a specialist mortgage broker in London, we understand the importance of being prepared when your fixed rate mortgage term is coming to an end. It is crucial to make informed decisions that can potentially save you money and secure the best possible mortgage deal for your specific needs. Here, we outline five essential steps you should take when your fixed rate mortgage term is ending.
