Welcome to April’s Market Update…..
This month we welcome six new colleagues to the team and reflect on the latest decision to freeze the Bank of England Base Rate
If you have any questions, or would like to see anything specific in future editions of these updates, please don’t hesitate to get in touch.
Scroll on…..
Before we get into it, let’s take a look at some of this month’s stats*:
The Bank of England’s decision to hold the base rate at 4.5% shouldn’t give prospective and current homebuyers much cause for concern.
Despite inflation falling to 2.8%, ongoing global uncertainty, coupled with rising energy prices and ongoing wage growth pressures, means it isn’t slowing as quickly as many may have hoped for.
Interest rates and inflation are out of our control, as there are so many factors currently at play that can impact them – including when the next rate cut may be.
No economist is confident of the outcome and what this year could end up looking like, so all we can do is stay alert to the latest changes and inform our customers accordingly.
We’re seeing customers becoming more used to today’s mortgage pricing, feeling this is broadly where we are now. Although rates may fall a bit lower, they can’t wait forever to move home, having perhaps held off for two or three years. We have to face the cards that we’ve already been dealt when it comes to the economy, keeping calm and carrying on.
Customers still have to buy houses, irrespective of market conditions, so we just have to get on with it and make the most of what’s in front of us.
Below we have listed the top five rates available across a range of LTVs. Please let us know if you need any additional information.
| 95% | 90% | 85% | 80% |
|---|---|---|---|
|
5.08% - Halifax
5.14% - Scottish BS
5.19% - Loughborough BS
5.25% - Monmouthshire BS
5.28% - Halifax
|
4.67% - Virgin
4.69% - Virgin
4.76% - Santander
4.76% - Virgin
4.78% - Halifax
|
4.42% - Santander
4.43% - Halifax
4.49% - Barclays
4.51% - Virgin
4.53% - HSBC
|
4.42% - Virgin
4.42% - Santander
4.43% - Halifax
4.47% - MPowered
4.48% - Furness BS
|
| 75% | 70% | 65% | 60% |
|---|---|---|---|
|
4.20% - Halifiax
4.24% - Barclays
4.25% - Barclays
4.26% - Santander
4.28% - MPowered
|
4.20% - Halifax
4.24% - Barclays
4.25% - Barclays
4.26% - Santander
4.28% - MPowered
|
4.14% - Coventry BS
4.20% - Halifax
4.24% - Barclays
4.25% - Barclays
4.26% - MPowered
|
4.06% - Halifax
4.08% - Santander
4.10% - Barclays
4.11% - Barclays
4.14% - Coventry BS
|
| 95% | 90% | 85% | 80% |
|---|---|---|---|
|
4.89% - Scottish BS
4.89% - Leek BS
4.99% - Loughborough BS
5.00% - Monmouthshire BS
5.04% - TSV
|
4.50% - Virgin
4.52% - Virgin
4.55% - Virgin
4.57% - Barclays
4.59% - HSBC
|
4.36% - Barclays
4.39% - Virgin
4.40% - HSBC
4.40% - Accord
4.42% - Natwest
|
4.31% - Virgin
4.36% - Barclays
4.37% - Accord
4.39% - Virgin
4.40% - HSBC
|
| 75% | 70% | 65% | 60% |
|---|---|---|---|
|
4.09% - Barclays
4.19% - Barclays
4.24% - HSBC
4.24% - Natwest
4.27% - Leeds BS
|
4.09% - Barclays
4.19% - Barclays
4.24% - HSBC
4.24% - Natwest
4.27% - Leeds
|
4.09% - Barclays
4.18% - Coventry BS
4.19% - Barclays
4.24% - HSBC
4.24% - Natwest
|
4.02% - Barclays
4.09% - Barclays
4.10% - HSBC
4.11% - Barclays
4.12% - Barclays
|
Rate Reducer from Own New is designed to make it more cost effective to buy a new build home by helping homebuyers access mortgage rates that are lower than traditional ones.
This scheme is open to first-time buyers and those planning to move home. The tables below, provide current rates available via this scheme.
| Darlington | Furness | Kensington | Leek | Perenna | Virgin | ||
|---|---|---|---|---|---|---|---|
|
95% Rate
|
2.89%
(Based on 5% Incentive. 2yr term) |
3.05%
(Based on 5% incentive. 2yr. £250 cashback) |
N/A
|
3.10%
(Based on 5% Incentive. 2yr term) |
N/A
|
N/A
|
|
| Darlington | Furness | Kensington | Leek | Perenna | Virgin | ||
|---|---|---|---|---|---|---|---|
|
90% Rate
|
N/A
|
2.26%
(Based on 5% Incentive. 2y term) |
4.23%
(Based on 5% Incentive. 2y term) |
N/A
|
5.63%
(Based on 5% Incentive. 30yr term. £1999 fee) |
2.19%
(Based on 5% Incentive. 2y term. £995 fee. £250 cashback) |
|
| Darlington | Furness | Kensington | Leek | Perenna | Virgin | ||
|---|---|---|---|---|---|---|---|
|
80% Rate
|
N/A
|
1.49%
(Based on 5% Incentive. 2y term) |
3.20%
(Based on 5% Incentive. 2y term) |
N/A
|
5.28%
(Based on 5% Incentive. 30yr term. £1999 fee) |
1.84%
(Based on 5% Incentive. 2y term. £995 fee. £250 cashback) |
|
| Darlington | Furness | Kensington | Leek | Perenna | Virgin | ||
|---|---|---|---|---|---|---|---|
|
75% Rate
|
N/A
|
N/A
|
2.95%
(Based on 3% Incentive. 2y term) |
N/A
|
5.15%
(Based on 5% Incentive. 30yr term. £1999 product fee) |
1.34%
(Based on 5% Incentive. 2y term. £995 product fee. £250 cashback) |
|
| Darlington | Furness | Kensington | Leek | Perenna | Virgin | ||
|---|---|---|---|---|---|---|---|
|
60% Rate
|
N/A
|
N/A
|
N/A
|
N/A
|
N/A
|
0.50%
(Based on 5% Incentive. 2y term. £995 product fee. £250 cashback) |
|
There’s plenty to unpack in this latest announcement, including updates that affect the housing sector.
👷 Housebuilding to reach a 40-year high
🏠 1.3m new homes to be built over the next five years
💷 Inflation expected to fall next year
Whether you currently have a mortgage or are planning to apply in the next 12 months, click below to understand how the Spring Statement could impact you…
The Financial Conduct Authority has floated the idea of whether pension savings should be used by borrowers to buy first homes.
Link opens a third party website
Nationwide: Annual rate of house price growth remained stable in March at 3.9%, unchanged from February. Northern Ireland remained top
Link opens a third party website
We are thrilled to welcome a series of key appointments that reflect our ongoing commitment to growth, innovation and delivering exceptional service to our clienst
Cannot fault them, Rob, Freya, Charlie and Joshua did a fantastic job securing me a mortgage.
Rob was constantly in contact and I commend that with the hustle and bustle that he must deal with on a day to day he still found time to pick up the phone and call me.
Thoroughly recommend.
Thank you all!
– N Bath
We are delighted to announce Aaliyah as our latest Employee of the Month.
Aaliyah consistently brings her positive and bubbly personality to her role and ensures that all clients receive personal and warm service.
Aaliyah has demonstrated that she is dedicated to putting clients first and ensuring all their needs are met. Aaliyah plays a key role in the smooth operation of the teams who manage our clients.
Aaliyah’s positivity, and caring nature, makes her a fantastic point of contact for our clients and a great Customer Care Coordinator.
The information pertained in here is not intended for public consumption, it has been prepared for the partners and friends of Mortgage Advice Bureau. Please do not share with consumers or buyers. Thank you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
In some instances, there may be a fee for mortgage advice. We will not charge a fee to those purchasing a new build home who contact us via the details provided. Other branches of Mortgage Advice Bureau may charge a fee. The actual amount you pay to them will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Image courtesy of MindAndI