Month: April 2018

Interest Rate Rise in May?

The country has been enjoying the effects of low cost borrowing on a mortgage for some years now. However, all good things have to come to an end and mortgage costs as we now see borrowing hitting a 2-year high.   With lenders expecting a Bank of England Base Rate rise next month, the rates on offer are at their highest for two years. The average mortgage rate has seen a 0.25% increase since last month which is a key indicator that banks and mortgage lenders are expecting an announcement from the Monetary Policy Committee.   In November last year, ... Read more

How Parents Can Help Their Kids Get on Property Ladder

For all those parents looking for a way to assist their children in getting on the property ladder but don’t want to part with a cash lump sum, the Post Office may have the answer.   The Post Office have introduced a mortgage that will allow First Time Buyers to be able to secure a loan up to the value of 10% against their parents’ property. The loan will then be required to be paid over 5 years.   The 90 percent loan to value (LTV) mortgage, known as a ‘Family Link’ mortgage will be available with the 10 percent ... Read more

Interest Rate Rise Tipped for May

With inflation remaining at 3% in January, and a slight dip in February, economists are predicting a further rise in interest rates in May this year.   Although they don’t believe it will be a large jump, a 0.25% increase on a mortgage can still make a significant difference when it comes to meeting your monthly repayments.   According to a recent Reuters Poll, it is thought that 32 out of 578 economists have tipped an interest rate rise in May. This comes alongside comments made by Gertjan Vlieghe, who is a member of the Monetary Policy Committee, those responsible ... Read more