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A healthy credit score has its benefits, so make sure you manage your debt correctly.
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A healthy credit score has its benefits, so make sure you manage your debt correctly.
Discover the best travel insurance policy for your next trip.
Find current accounts offering in-credit interest rates up to 5.00% AER.
Explore the best cards with a 0% introductory period.
Could the value of your state pension rise by more than inflation?
Will your loved one's gift be tax affected?
Looking for inflation beating returns? Investing in shares could be an option.
This represents 4% of the total number of mortgages on the market as lenders factor in higher interest rates.
More than 200 mortgages have been withdrawn since Friday, equating to just over 4% of the lending options on offer.
This follows the recent trend, when 373 mortgages were withdrawn from the market in the week to 30 May.
Much of this is due to the release of unexpectedly high inflation figures for April, with many analysts expecting this to force the Bank of England to increase its base rate further.
“This volatility is down to the concerns surrounding future interest rate hikes, and lenders are reassessing their propositions,” Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said at the time.
Since Friday, Santander and Furness BS are just two providers to remove some of their fixed rates while the Co-operative Bank withdrew its entire mortgage range.
Other lenders, however, have returned to the market at higher rates. Halifax, the UK’s largest mortgage lender, increased some of its fixed rate offerings by 0.30 percentage points today while Leeds BS increased some of its mortgage offering by 0.40 percentage points on Friday.
In an environment of mortgage volatility, it is imperative to get the best deal possible. Make use of our charts to find the lowest rates on the market.
Graph: Mortgage rates are on the rise since the latest inflation figures were announced on 24 May. Chart created with flourish.studio
Since 24 May, when the inflation figures for April were released, the average two year fixed deal has increased by 0.38 percentage points to 5.72%.
This increase roughly translates to an additional £45 per month onto a mortgage of £200,000 over 25 years.
The average five year fixed rate has seen a similar increase too and now charges £47 more a month than it would have done on 24 May.
To personalise your mortgage rates, use the calculator below.
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The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year fixed ISA from Charter Savings Bank and a new discounted variable rate mortgage from Leek Building Society.
The number of net mortgage approvals rose in April, reaching its highest level since September 2022. However, the market remains difficult for borrowers.
The number of net mortgage approvals rose in April, reaching its highest level since September 2022.
Each week the Moneyfactscompare.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
House prices fall month-on-month as major lenders increase rates.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year fixed ISA from Charter Savings Bank and a new discounted variable rate mortgage from Leek Building Society.
The number of net mortgage approvals rose in April, reaching its highest level since September 2022. However, the market remains difficult for borrowers.
The number of net mortgage approvals rose in April, reaching its highest level since September 2022.
Each week the Moneyfactscompare.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
House prices fall month-on-month as major lenders increase rates.
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I accept. Read our Cookie PolicyMoneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.