Archive for Industry posts Category

The average five-year fixed rate has fallen to 3.43%, a joint record-low which was last seen in October 2017, according to Moneyfacts data. The fall in rates has been attributed to attempts to attract borrowers who will be considering remortgaging after taking out two-year fixed rates ahead of the stamp duty changes in April 2016. […]

Peter Marriott

The gap between buying and renting has widened significantly, primarily driven by a reduction in mortgage rates. Data shows that the average cost including mortgage payments of buying a three-bed home in the UK was £679 a month in December 2017, compared to the average monthly rent of £754 for the same property type. The […]

Peter Marriott

No Time to Lose

7Nov 2017

The average two-year fixed mortgage rate has risen from its historic low in October with a 0.12% increase, the highest monthly rise since August 2009, according to Moneyfacts data. This rise has effectively wiped out any rate cuts that have occurred in the last six months, seeing the average rate surpass May 2017 figures to […]

Peter Marriott

For the first time in more than 10 years the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007 when rates hit 5.75%. The move reverses the cut in August of last year – made in the wake of the […]

Neil Davey

Bank of England governor Mark Carney has refused to rule out a rate rise before the end of 2017 indicating a hike could happen in the “near term”. Rates are currently 0.25%, they were decreased from 0.5% last summer after the European referendum. Speaking on the BBC Today show, Carney (pictured) said the Bank was […]

Peter Marriott

The Bank of England has held interest rates at 0.25% but said a rate rise “over the coming months” was possible if the UK economy continues on its current trajectory.  In particular, they pointed to August’s inflation which beat expectations, rising to 2.9% up from 2.6% in July, reaching levels last seen in 2012. Furthermore, in […]

Peter Marriott

With over £35billion worth of mortgages coming to the end of their fixed rate term by the end of October there is going to be a massive amount of pressure put on lenders to process and offer new mortgage deals. Here at Westexe mortgages we are well placed to help our customers through this mad […]

Peter Marriott

Mortgage lenders are tripping over themselves in offering fantastic deals for first time buyers. Considering mortgage rates have never been so low, this is the perfect time to buy! How do you prepare for your first mortgage?  The most important thing is to build up as high a credit score as possible. To do this […]

Peter Marriott

Sometimes a new mortgage is not easy to arrange for the self-employed. For very good reasons of their own, suitable income for mortgage lending purposes can be difficult to evidence. This is just one example of how the professional mortgage lending industry works together to provide the right solution. This example is kindly provided by […]

Peter Marriott

43% of estate agents have seen a rise in the number of customers forced to sell their homes to pay off interest-only mortgage debts in the past two years, according to Key Partnerships research. The research also found that 73% who are looking to downsize are older customers trying to pay off mortgage debt. There […]

Peter Marriott

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