Tuesday 27th September, 2022

In the last few months it has been increasingly noticeable the impact in rising household costs and increases to interest rates made by the Bank Of England. Consumers are all feeling the pinch.

A number of our clients have factored in some of these when applying for their next mortgage to keep their monthly mortgage payments to a manageable amount whilst the future costs are still somewhat unknown especially around Energy prices.

The article attached could be useful to read as this highlights some key dates that will affect many households in the UK.

→ BBC News Article - What will happen to energy bills and mortgages? Upcoming dates to be aware of.

Thursday 9th July, 2020

Mortgages are harder to obtain presently due to the Covid-19 pandemic.  With many lenders removing 95% and 90% mortgages, for some lenders a minimum deposit of 15% is currently required thus making it even harded to get on the property ladder.  This will have a bigger impact on those areas where house prices are already very high.

Mortgage holidays taken during the Covid-19 pandenic have caused further problems for borrowers than expected.  In some instances applciants have been refused loans, or new mortgage deals and from our experience the impact of a payment holiday on unsecured credit commitments has reduced some applicants credit scores.  We would encourage our clients to maintain their commitments if they are able.