Mortgage News

The very best mortgage rates largely remain unchanged this week for those wanting to remortgage or move home. The mortgage market continues to be difficult for first-time buyers, with many mortgages at 90% loan-to-value (LTV) only available in specific regions or with a guarantor. A mortgage broker can help buyers and those wanting to remortgage to find the best mortgage deals.

Below we have highlighted the lowest rates available in the remortgage and moving home charts, as well as some of the best deals in the guarantor mortgage chart. Borrowers should be aware the lowest rates may not offer the best deal overall and should also consider factors such as product fees and incentives when choosing a mortgage.

Last month, decades-long planning regulations were changed so that those looking to convert a commercial property into a residential one now no longer need planning permission. This change, combined with the fact that many commercial landlords are struggling to find business tenants and the continuing residential housing crisis, means that buying a commercial property and converting it into a residential one could be a good investment opportunity.

Although the housing market remains strong at the moment, mortgage lenders are tightening their lending criteria, making it harder for some buyers to secure a mortgage. First-time buyers are finding it particularly difficult in the current climate to secure mortgages and may want to consider a guarantor mortgage as a way of getting onto the property ladder. Those struggling to get a mortgage should consider speaking to a mortgage broker who will be able to provide the best deals available for their circumstances.

Below we have highlighted the lowest rates available in the remortgage and moving home charts, as well as some of the best deals in the guarantor mortgage chart. Borrowers should be aware the lowest rates may not offer the best deal overall and should also consider factors such as product fees and incentives when choosing a mortgage.

The 1990s saw a boom in interest-only mortgages, but many homeowners will now be coming to the end of their mortgage term still with the full or a large amount of the capital needing to be paid off. This can be a stressful time for homeowners, who risk losing their home if they are unable to repay the mortgage when the term ends and as a result, some have looked towards equity release as a way of repaying their mortgage.

While equity release can be a good way of releasing money built up in a home’s equity, it does have a long-term financial impact and, as such, speaking to an independent financial adviser is essential before committing to equity release. For those who have an interest-only mortgage and are thinking about using equity release to pay off the outstanding mortgage, we’ve looked at whether this is possible and the alternatives available.