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Mortgage News

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Moneyfacts pick of the week
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Caitlyn Eastell

Apprentice Press & PR Assistant
Published: 10/10/2024

Last updated: 10 October 2024 at 09:30

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market, ranging from mortgages to savings accounts. This week I've analysed the following deals, along with their perks.

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The best UK residential mortgage rates this week
Each week the Moneyfactscompare.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
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Mortgage approvals reach highest level in two years
Mortgage approvals rose to their highest level in two years as house prices also record an increase, according to the latest figures from Nationwide BS.
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First-time buyers can now borrow more with Nationwide BS
First-time buyers can now borrow up to six times their annual income from Nationwide BS after the lender amended its Helping Hand mortgage products.
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First-time buyers running out of time to save up to £15,000 in Stamp Duty
Temporary first-time buyers’ relief is expected to end on 31 March 2025 and will affect those in Southern England the most. Find out more.
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Recent News

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Bank of England votes to hold base rate at 5%

19th September 2024

After making a long-anticipated cut to the base rate at its previous meeting in August, today the Bank of England’s Monetary Policy Committee (MPC) voted 8 to 1 in favour of maintaining it at 5.00%.

Base rate held at 5% as mortgage and savings rates continue to tumble.

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‘Welcome news’ for borrowers as average fixed mortgage rates fall for second consecutive month

11th September 2024

The average prices of two- and five-year fixed deals return to levels unseen for over six months.

The average prices of two- and five-year fixed deals return to levels unseen for over six months.

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Renters could end up £2.6 million worse off over their lifetime than homeowners

4th September 2024

Half of prospective first-time buyers say they have given up looking for a property as they feel so overwhelmed. Find out more.

Half of prospective first-time buyers say they have given up looking for a property as they feel so overwhelmed.

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Mortgage borrowing hits two year high of £2.8 billion in July

2nd September 2024

Mortgage borrowing reaches £2.8 billion in July, while net mortgage approvals for house purchases rise month-on-month. Find out more.

Mortgage borrowing reaches £2.8 billion in July, while net mortgage approvals for house purchases rise month-on-month.

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Most Popular Mortgage News

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Seven surprising impacts on the value of your home

26th April 2022

Most of us know that the value of a home is affected by its size, location, and condition, but there are some more unexpected factors at play too. From the quality of your nearest drinking hole to the toys strewn on your child’s bedroom floor, there are a few things that can have a surprisingly big impact on your home’s selling price.

Most of us know that the value of a home is affected by its size, location, and condition, but there are some more unexpected factors at play too.

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Bridging lending increases as buyer demand outstrips supply

28th May 2021

The entire UK property market is currently seeing huge demand from buyers as a result there has been more demand for bridging loans, mortgages and secured loans.

The Uk property market is currently seeing huge demand from buyers.

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Revealed: Winners of the Moneyfacts Consumer Awards 2024

8th February 2024

Financial professionals from across the industry gathered at the Royal Lancaster London to hear Tim Vine reveal the results.

Financial professionals from across the industry gathered at the Royal Lancaster London to hear Tim Vine reveal the results.

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Should borrowers use a high street lender or a specialist for a lifetime mortgage?

23rd December 2020

The traditional equity release lenders; Canada Life and Legal and General have been joined by high street names such as Nationwide Building Society, Santander, TSB and Lloyds Bank. We’ve compared equity release providers below to help borrowers decide if they prefer to use a high street name or a specialist lender.

The traditional equity release lenders; Canada Life and Legal and General have been joined by high street names

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How to gift a deposit to your children or grandchildren

4th August 2021

As house prices continue to rise, saving for a house deposit is becoming increasingly challenging for many would-be homeowners, resulting in parents and grandparents gifting money to help towards the deposit

As house prices continue to rise, saving for a house deposit is becoming increasingly challenging for many would-be homeowners

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Bank of England holds base rate at 5.25% as General Election looms

20th June 2024

There was no change despite the Bank of England meeting its 2% target for inflation.

There was no change despite the Bank of England meeting its 2% target for inflation.

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An interest-only mortgage could help ease financial pressure during pandemic

6th July 2020

Mortgage borrowers financially struggling due to the Coronavirus pandemic and considering switching to an interest-only mortgage will find that the majority of deals offer an interest-only repayment option

Mortgage borrowers switching to an interest-only mortgage will find that the majority of deals offer an interest-only repayment option

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5% deposit mortgages fall to lowest rate on record

6th December 2021

The interest rates on mortgage deals aimed at first-time buyers with just a 5% deposit have fallen to their lowest level since records began in 2011

The interest rates on mortgage deals aimed at first-time buyers with just a 5% deposit have fallen to their lowest level since records began in 2011

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Generation Home makes fixed mortgage rate reductions – how do they compare?

17th January 2023

Generation Home reduced a range of its fixed rate mortgage options by up to 0.30% yesterday. So how does its new offering compare to the likes of Yorkshire Building Society and NatWest?

How does Generation Home's new offering compare to the likes of Yorkshire Building Society and NatWest?

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Does a larger deposit always equal a better rate?

13th March 2017

Whether you’re trying to get on or move up the housing ladder, saving a suitable deposit is key. Indeed, moving down the loan-to-value (LTV) scale is often touted as the best way to secure a lower mortgage rate, yet it may not be that simple...

Whether you’re trying to get on or move up the housing ladder, saving a suitable deposit is key. Indeed, moving down the loan-to-value (LTV) scale is often...

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Stretched affordability – Calculating the ever-increasing costs of homeownership

31st January 2023

Is the dream of homeownership becoming unaffordable? And how much could monthly mortgage payments bite out of your salary?

Is the dream of homeownership becoming unaffordable?

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Bank of England raises interest rates to fresh 14-year high

2nd February 2023

The Bank of England’s Monetary Policy Committee (MPC) voted to increase the base rate by 50 basis points today.

The Bank of England’s Monetary Policy Committee (MPC) voted to increase the base rate by 50 basis points today.

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Three things you need to know if you’re becoming the Bank of Mum and Dad

31st January 2023

Considering the challenges first-time buyers face, you might aim to help your adult children, or adult grandchildren onto the property ladder. So, below we have listed three things you should know.

Amid a challenging period for first-time buyers, parents and grandparents are increasingly stepping in to help.

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Base rate and the mini-Budget: How did the mortgage market react?

30th January 2023

Using data unique to Moneyfacts, we’ve tracked how mortgage rates have changed since 16 December 2021, the day of the first of nine successive base rate increases. In addition we also reevaluate the impact on the mortgage market.

With a potential base rate rise scheduled this week, how have mortgage rates performed over the last year?

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What to do if you cannot pay your mortgage due to the Covid-19 outbreak

18th March 2020

As the Covid-19 outbreak continues, the financial strain of reduced working hours, living on statutory sick pay and redundancy will start impacting many consumers across the country

The financial strain of reduced working hours, living on statutory sick pay and redundancy will start impacting many consumers across the country

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First-time buyers see product choice fall by more than half in a month

13th July 2020

In the past month, first-time buyers with a 10% deposit or less will have seen the number of mortgage deals available to them fall by more than half

In the past month, first-time buyers with a 10% deposit or less will have seen the number of mortgage deals available to them fall by more than half

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Nationwide to restart first-time buyer lending

13th July 2020

Nationwide Building Society has announced that it is planning to extend its mortgage product range to include 90% LTV to support first-time buyers

Nationwide Building Society has announced that it is planning to extend its mortgage product range to include 90% LTV to support first-time buyers

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A year in review: Where have house prices seen the strongest growth?

30th December 2022

Some UK towns and cities saw average property values increase by more than 15% over the last year, according to Halifax, the UK’s largest mortgage lender.

Some UK towns and cities saw average property values increase by more than 15% over the last year

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Bank of England holds base rate at 5.25% for second consecutive month

2nd November 2023

The Bank of England’s Monetary Policy Committee (MPC) voted 6 to 3 in favour of maintaining the base rate at 5.25% for the second consecutive month.

The Bank of England’s Monetary Policy Committee (MPC) voted 6 to 3 in favour of maintaining the base rate at 5.25% for the second consecutive month.

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Skipton BS’s no deposit mortgage – How is it different?

10th May 2023

The mortgage differs from the competition by negating the need for a guarantor.

The mortgage differs from the competition by negating the need for a guarantor.

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Drop in 95% LTV mortgage competition hits first-time buyers

9th September 2019

With the total number of 95% loan-to-value (LTV) mortgage deals falling, while those on a 90% LTV are on the rise, first-time buyers may want to wait until they can save for a 10% deposit to take advantage of the better rates

With the total number of 95% loan-to-value (LTV) mortgage deals falling, first-time buyers may want to wait until they can save for a 10% deposit

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How to pay off an interest-only mortgage

24th November 2020

UK Finance predicted that the number of interest-only mortgages set to mature during 2020 would be 54,000

UK Finance predicted that the number of interest-only mortgages set to mature during 2020 would be 54,000

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How to help your grandchildren save for a house deposit

22nd July 2021

It has become common for aspiring homeowners to turn to the bank of mum and dad to realise their dream of owning their first home

It has become common for aspiring homeowners to turn to the bank of mum and dad to realise their dream of owning their first home

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House prices start New Year on the rise, says Rightmove

16th January 2023

While market buoyancy is expected, this is the biggest monthly increase at this time of year since 2020.

While market buoyancy is expected, this is the biggest monthly increase at this time of year since 2020.

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One week on from base rate: How has the savings market reacted?

30th March 2023

From building societies to digital providers, which banks have passed the latest base rate increase on to their savers?

From building societies to digital providers, which banks have passed the latest base rate increase on to their savers?

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Should I use a bridging loan to get stamp duty saving?

22nd December 2020

The stamp duty holiday is set to come to an end 31 March 2021. We explain the faster alternatives to access finance to buy a property before the deadline.

The stamp duty holiday is set to come to an end 31 March 2021. We explain the faster alternatives to access finance to buy a property before the deadline.

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Nationwide to withdraw 90% and 95% mortgage deals

17th June 2020

Nationwide Building Society is set to pull all its 90% and 95% loan-to-value (LTV) products from the market tomorrow, leaving many first-time buyers and homeowners looking for a mortgage at a high LTV struggling to find a competitive deal

Nationwide Building Society is set to pull all its 90% and 95% loan-to-value (LTV) products

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How are building societies supporting first-time buyers?

9th May 2024

As mortgage affordability continues to be a major challenge, building societies offer different measures to help first-time buyers get on the property ladder.

Building societies are offering competitive rates and different measures to help first-time buyers get on the property ladder.

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90% LTV mortgage availability at post-crisis high

12th September 2017

The high loan-to-value market has been going from strength to strength in recent years, and the 90% LTV market in particular has seen a definite boost this month, with a huge jump in products and lower mortgage rates.

The high loan-to-value market has been going from strength to strength in recent years, and the 90% LTV market in particular has seen a definite boost this...

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Considering a Coronavirus mortgage payment holiday - could a switch to interest-only help?

9th April 2020

We explore if interest only mortgages might be an alternative to mortgage payment holidays.

We explore if interest only mortgages might be an alternative to mortgage payment holidays.

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First-time buyers struggle to get mortgages with a 10% deposit

18th June 2020

First-time buyers who have been saving for a 10% house deposit will have seen the number of mortgage deals available to them fall by 40 overnight, with just 75 deals now available at a 90% loan-to-value (LTV)

First-time buyers with a 10% house deposit will see the number of mortgage deals available fall by 40 overnight, with just 75 deals now available at a 90% LTV

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first direct adds to first-time buyer competition

21st March 2023

The retail banking division of HSBC has reduced the rates on more than 30 of its fixed mortgages.

The retail banking division of HSBC has reduced the rates on more than 30 of its fixed mortgages.

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Struggle to save for house deposits forces half of young adults to live with parents

21st June 2019

Over half (58%) of young adults surveyed by the mortgage broker, Trussle, revealed that they still live with their parents as financial circumstances prevent them from moving out and saving for a house deposit or being able to afford to live on their own

Over half (58%) of young adults surveyed by the mortgage broker, Trussle, revealed that they still live with their parents

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Help to buy mortgage rules extended

18th October 2019

The UK Government acts to extend mortgage terms for it's Help to Buy Equity Loan Scheme.

The UK Government acts to extend mortgage terms for it's Help to Buy Equity Loan Scheme

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Help available for first-time buyers looking to get onto the housing ladder

15th July 2020

This week, the prospect for first-time buyers looking to get onto the property ladder increased as a number of mortgage lenders, including Nationwide and Metro Bank, announced they are reintroducing high loan-to-value (LTV) mortgage deals

This week, the prospect for first-time buyers looking to get onto the property ladder increased as a number of mortgage lenders

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Borrowers’ delight as fresh deals hit the market

27th April 2023

There are now over 5,000 mortgages on the market.

There are now over 5,000 mortgages on the market, but are deals getting any cheaper?

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Six-month personal finance review – winners and losers

9th July 2019

Finance expert at Moneyfactscompare.co.uk, Rachel Springall, takes a look at the first six months of 2019 to find out if consumers are better or worse off than if they had taken out a deal in January.

Who are the mortgage, savers and credit card winners and losers in the first six months of 2019?

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Mortgage rates start to rise as number of deals cut by over half

11th August 2020

In just five months, the number of mortgage deals available to consumers has more than halved, falling from 5,222 on 1 March to just 2,526

In just five months, the number of mortgage deals available to consumers has more than halved, falling from 5,222 on 1 March to just 2,526

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UK house prices reach record high

16th February 2022

Bad news for potential buyers as the average house price rises rose by £27,000 last year. The latest UK House Price Index recorded average house prices up 10.8% in the year to December 2021. According to data from the Land Registry, it is the biggest gain in a calendar year since 2002.

Bad news for potential buyers as the average house price rises rose by £27,000 last year.

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UK housing market starting to slow, says Zoopla

30th May 2022

Price reductions for UK properties are on the rise, with one in 20 listed properties reducing their asking price by 5% or more in April to mid-May. . By contrast, just one in 22 properties experienced this type of house price cut during the previous month, according to Zoopla, a real estate company.

Price reductions for UK properties are on the rise, with one in 20 listed properties reducing their asking price by 5% or more in April to mid-May.

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