Tag: Mortgage advice

Average house price tops £250k as interest rate rises loom

The average price of purchasing a home rose by 0.7% in October taking the average price of a property past the £250,000 mark for the first time ever, according to the latest house price figures from Nationwide. The average price of a property stood at £250,311 in October with prices up by 9.9% when compared [...]

Warning that mortgage costs could rise 13% by 2023

Homeowners are being told to prepare for a 13% increase in their mortgage interest costs by 2023 as rates are forecast to rise to rein back inflation. Expectations for rising mortgage interest costs predicted by the Office for Budget Responsibility (OBR) were buried in the Budget documents. They show that the OBR expects mortgage interest [...]

Stamp duty holiday: Success or failure?

Home buyers have benefited from lower or no stamp duty, a tax paid on property purchases, in some parts of the UK, for more than a year. The tax holidays on stamp duty or its equivalent taxes, were introduced by ministers to stimulate the housing market as the country emerged from the first national Covid [...]

Mortgage borrowers could overpay by £2,500 by not shopping around

Mortgage borrowers could be paying £2,500 more than they need to if they fail to refinance and allow their loan to revert to a lender's standard variable rate (SVR). According to research from L&C Mortgages, the amount borrowers could be overpaying has increased from £2,159 last year to £2,540 this year as average rates continue [...]

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