Mortgage News

Homeowners looking to remortgage can now get a fixed rate deal offering a rate lower than 1%. As well as this, across all the mortgage charts rates continue to be highly competitive, with all the lowest rates currently available in the charts highlighted below.

When looking for a new mortgage deal, borrowers should keep in mind that the lowest rate may not be the best deal for them. Instead, borrowers should consider all aspects of the deal, including product fees and incentives, to ensure that they choose the right deal for their individual financial situation and requirements. Borrowers who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.

When considering a buy-to-let (BTL) investment, one of the main factors that will impact the decision is the expected rental yield. For some landlords, a good way of increasing the potential rent they can gain from a single property is through investing in a house in multiple occupation (HMO) property. Here we take a look at what HMO is, as well as the pros and cons of investing in this type of property.

Consumers looking for a new mortgage deal will likely welcome new research which has found that there has been an increase in mortgage deals month-on-month, with deals requiring a small deposit seeing the biggest increase.

The research, which is due to be published in the Moneyfacts UK Mortgage Trends Treasury Report, found that the total number of mortgage deals available to consumers increased by 85 between April and May, up from 3,842 to 3,927.

The number of deals available to those with a 5% deposit or a 95% loan-to-value (LTV), saw the biggest increase, up by 78 month-on-month, from just 34 deals in April to 112 in May. Eleanor Williams, finance expert at Moneyfacts.co.uk, explained this significant increase is due to “providers returning deals to this sector both as part of and outside of the Mortgage Guarantee scheme”. Meanwhile, those with a 10% deposit (90% LTV) will have seen the number of deals available to them increase by 41, up from 440 to 481.

In fact, the number of deals available on all deposit amounts, except those requiring a 20% deposit (80% LTV), increased month-on-month. Those with a 20% deposit (80% LTV), however, will have seen the number of deals available fall by 11, down from 721 to 710.

Mortgage rates in both the remortgage and moving home charts have remained highly competitive this week. Meanwhile, first-time buyers will be pleased to see that choice within this market continues to grow, with Virgin Money announcing it will shortly be offering deals for those with a 5% deposit under the Government’s mortgage guarantee scheme.

Below we’ve highlighted the lowest mortgage rates in the remortgage, moving-home and first-time buyer mortgage charts. Although considering rates is important when choosing a mortgage, borrowers should keep in mind that the lowest-rated deal may not be the best choice for them. Instead, they should consider a range of factors, such as incentives, product fees and flexible features, when considering mortgage deals. Borrowers who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.