Mortgage Interest Rate Changes Explained
Mortgage Interest Rate Changes Explained: Mortgage interest rate changes can feel abstract until they reach the monthly payment. A rate decision may be announced by the Bank of England. A lender may then change a tracker rate, a standard variable rate or the price of new mortgage deals. For a homeowner, the real question is simple: […]
The Challenges Homeowners Face After Rate Rises
The Challenges Homeowners Face After Rate Rises: At a glance Homeowners faced greater mortgage pressure after the rapid rate rises in 2022 and 2023. The main challenges were: Higher monthly repayments when fixed rates ended Stricter affordability checks for some remortgage applications Fewer simple options for borrowers whose income had changed More need to compare remortgages, […]