Monthly mortgage costs climb considerably in 2022
Rising interest rates mean UK homebuyers have seen a £71.50 increase in the monthly cost of their mortgage so far in 2022 alone, analysis from Revolution Brokers has found.
mortgage
NatWest and Clydesdale up buy-to-let rates
NatWest and Clydesdale Bank have both announced that they are upping mortgage rates, reflecting the trend seen across the industry.
Mortgage costs rising
Remortgagors increased their monthly payment by £224 in March, indicating that costs are rising and people are taking on bigger loans.
Lowest rate buy-to-let products being pulled
The cheapest buy-to-let products are being withdrawn the market, now the Bank of England has started raising the base rate.
Mortgage roundup: Platform unveils 1% buy-to-let and Leeds launches green mortgage
The product is a 2-year fix to 60% loan-to-value but comes with a high fee of £2,495.
West One launches green buy-to-let range and campaign
There are 2 and 5-year fixes at 65% and 70% loan-to-value for properties with an Energy Performance Certificate (EPC) rating between A and C.
Yorkshire BS and Accord refresh buy-to-let offerings
Yorkshire has cut 5-year fixes by 0.20% and its 10-year fix by 0.15%, while its HMO products have also been reduced by 0.10%.
Mortgage roundup: Barclays unveils 10-year fix, Landbay and Accord cut rates
Long-term fixes are suitable for landlords that want certainty about the cost of payments in the years ahead, regardless of whether the Bank of England base rate rises.
Legal & General: Mortgage borrowers tunnel vision on rate
Two thirds (63%) of UK borrowers say the interest rate is the most important factor when deciding on a mortgage.
Virgin Money cuts buy-to-let rates
Virgin Money has cut buy-to-let interest rates across its 2 and 5-year fixed rates. To 80% loan-to-value its 2-year fix costs 2.99%, while its…
