Month: July 2017

Mortgage Applications are Up in June

Figures for last month showed that mortgage lending had increased by 9% on the previous month of May. Although the amount of lending isn’t quite as buoyant as it has been, the increase in lending in June is 3% higher than that of June 2016.   It is suspected that many consumers have tightened up on spending since the increase in inflation and therefore confidence in the economic outlook is thought to be weakened.   As the housing market and the economy are closely linked, the amount of applications received by mortgage lenders can often dip and so the UK ... Read more

Mortgage Fees at 4 Year High

Although mortgage rates are some of the lowest on record, mortgage fees are a different story. Mortgage fees for those looking to remortgage have hit a four-year high with many homeowners paying in excess of £1000 in fees. The same month of July last year saw the average fixed rate mortgage at £986.   Too often, people are all too focused on the interest rate rather than looking at the bigger picture. Key Facts Information is provided with all mortgage offers and should be studied carefully, asking a Mortgage Broker or Adviser to fully explain the costs and to draw ... Read more