What is the Base Rate and How Does it Affect My Mortgage Rate?
The Bank of England’s Base Rate has been in the spotlight in recent years – dropping to an all-time low of 0.1% in 2020 before rising to a 16-year high of 5.25% in 2023. Many homeowners have felt the effects of this volatility through their mortgage rates. But what exactly is the Base Rate and […]
What Does Loan-to-Value (LTV) Mean and How Does it Affect My Mortgage Rate?
Loan-to-value, often abbreviated to LTV, is a crucial element of a mortgage deal that can determine what interest rate you’re offered. There are two factors that decide your LTV, one being the size of your deposit and the other being the price of your property. Learning how to work out your LTV and how it […]
What are the Benefits of a Green Mortgage and Should I Get One
Green mortgages are being offered by an increasing number of lenders in the UK as the population becomes more environmentally conscious. But are they always a better deal? Green mortgages are known for their financial incentives – usually either a discounted interest rate or a cashback offer. But whether they are the right option for […]
What is a Fixed-rate Mortgage and Should I Get One?
Fixed-rate mortgages are the most common mortgage product in the UK. But whether you should get one or not and how long you should fix for depends on your specific situation. The first step is understanding how fixed-rate mortgages work. Aside from the many benefits of these mortgages, there are some downsides to bear in […]
What is a Standard Variable Rate (SVR) Mortgage?
If you’ve found yourself on a Standard Variable Rate mortgage, you could be paying more interest than you need to. The good news is that it’s not too late to act – you may be able to switch to a lower rate and reduce your monthly repayments. That being said, there are rare situations where […]
Mortgage Payment Holidays Explained – How Will My Mortgage and Credit Be Affected?
If you think you may not be able to afford your mortgage repayments due to short-term financial difficulties, you may be allowed to skip a certain number of repayments. This is known as a mortgage payment holiday and it must only be done with permission from your lender. Although this may seem like an easy […]
What Are the Advantages & Disadvantages of Paying off My Mortgage?
Many people work towards paying off their mortgage early for good reason. Not only can you reduce the overall cost of your mortgage but you can also benefit from owning your home outright sooner. But what’s the best strategy for paying off your mortgage? And is it always the right thing to aim for or […]
Can a Guarantor Help Me Get a Mortgage and How Does it Work?
Guarantor mortgages in the UK can be a lifeline for those struggling to get on the property ladder. By sharing the risk with a guarantor, you may be eligible for a mortgage that would otherwise be out of reach. But is a guarantor mortgage the right choice for you? And what exactly does it entail? […]
Family Springboard Mortgage Explained – How to Get a Mortgage With Help From Your Family
If you can afford mortgage repayments but you don’t have a deposit, a Family Springboard Mortgage may be the key to unlocking the door to your dream home. By sharing some of the risk involved with a close family member or friend, known as your helper, you may become eligible for a mortgage that would […]
Should I Port My Mortgage?
If you’re thinking of moving house, you may be wondering if you can take your current mortgage with you – this is called ‘porting’ your mortgage, and in most cases, it is an option. However, whether it’s the right option for you depends on your specific situation. Porting a mortgage isn’t always straightforward and it […]
