• Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe
  • Do Not Sell My Personal Information
Thursday, June 1, 2023
The Finest Reads
No Result
View All Result
  • Home
  • News
  • Education
  • Finance
  • Lifestyle
  • Nutrition
  • Sports
  • Home
  • News
  • Education
  • Finance
  • Lifestyle
  • Nutrition
  • Sports
No Result
View All Result
The Finest Reads
No Result
View All Result
Home Uncategorized

What’s Next For UK Mortgage Rates?

admin by admin
January 11, 2022
in Uncategorized
0

The Bank of England’s increased interest rates from 0.1% to 0.25% on 16 December.

Lenders including Nationwide and Santander have already announced they will mirror the increase by putting up the cost of bank rate-linked mortgage deals and their standard variable rate (SVR) of lending by 0.15%, with effect from 1 February 2022.

Nationwide’s base mortgage rate (BMR) and standard mortgage rate (SMR) deals will increase by 0.15% to 2.25% and 3.74% respectively, while Santander’s follow-on rate, which applies at the end of its base rate tracker deals, will increase to 3.5%. Its standard variable rate will rise to 4.49%.

Other lenders are expected to follow suit.

Many new fixed rate deals had already factored in the interest rate hike, although further hikes are likely to be in store. Yesterday, Nationwide edged up the cost of some two, three and five-year fixed rate deals across a range of deposit levels.

Why has Base Rate increased?

The Bank of England’s Monetary Policy Committee (MPC) has been under pressure to cool the economy and reduce soaring inflation.

Official figures show the Consumer Prices Index (CPI) surged by 5.1% in the 12 months to November 2021, marking its highest level for a decade. Inflation is also now well over double the Bank of England’s 2% target, set by the government.

The Bank of England had previously warned that inflation could ‘comfortably exceed 5%’, but this was not expected until April 2022 when regulator Ofgem is likely to put up the energy price cap, resulting in more expensive energy bills for millions of UK households.

What are today’s mortgage rates?

But, with so much to keep track of and mortgage rates changing often on a daily basis, how can you keep up-to-date? A simple way is by using our mortgage tables, powered by Trussle – a trusted mortgage broker and our mortgage partner.

To find out what deals are available at today’s rates for the kind of mortgage you’re after, you’ll need to enter your personal criteria into the table below. Here’s what to do:

  • Select whether the mortgage is to fund a house purchase or if it’s a remortgage for an existing property
  • Enter the property value and the mortgage amount you require. This will automatically generate a percentage which is known as your ‘loan to value’. The lower your loan to value, the cheaper the mortgage rates available
  • Tick the relevant box if it’s a buy-to-let or interest-only mortgage (you’ll need a repayment strategy in place for these deals), or if you’re looking for a mortgage to fund a shared ownership property
  • Finally, filter your search by the type of mortgage you want, for example a two- or five-year fix or tracker. The filter is set to a complete mortgage term of 25 years but you can change this if required….ReadMore….
admin

admin

Related Posts

Uncategorized

Hertford and Northampton counties aim to eliminate early childhood suspensions

Uncategorized

How Writing ‘Letters to Strangers’ Helps Students Who Need Mental Health Support

Uncategorized

EdExplainer | The state of licensed child care in Haywood and Buncombe counties

Uncategorized

What does it take to end a life sentence? For these formerly incarcerated actors, it’s theater

Uncategorized

Putting the Heat on Campus Leaders About the Cold

Uncategorized

Key Leadership Skills for Our Rapidly Changing World

Load More
Next Post

By Categories

  • Education
  • Finance
  • Lifestyle
  • News
  • Nutrition
  • Sports
  • Uncategorized
Email : jamesbobby@thefinestreads.com
Address : 364 E Main St Middletown, DE 19709 (box 857)

Subscribe Us ==>

By clicking submit, I authorize: (1) The Finest Reads to use and share my information in accordance with its Terms of Service and Privacy Policy, and (2) The Finest Reads or third-party companies, including The Finest Read’s business partners, to contact me by email with offers for goods and services at the email address provided. Please note that the information you have provided to us may be supplemented with additional information obtained from other sources.
  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe
  • Do Not Sell My Personal Information

© 2023 The Finest Reads | All rights reserved.

No Result
View All Result
  • Home
  • News
  • Education
  • Finance
  • Lifestyle
  • Nutrition
  • Sports

© 2023 The Finest Reads | All rights reserved.