Remortgage

What are variable mortgage rates?

Variable mortgage interest rates, also known as tracker or discounted mortgage products, are mortgage loans with interest rates that can fluctuate over time. The interest rate on a variable mortgage is tied to an economic index, such as the Bank of England base rate or the own building society standard variable rate. As the index …

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Biggest interest rate increase in 33 years

After the Bank of England’s Monetary Policy Committee (MPC) voted to increase Bank Rate to 3% in early November, households across the country are feeling the effects of pricier borrowing.   Going up The rise of 0.75 percentage points, an eighth consecutive increase and the biggest since 1989, has a significant impact on borrowers. Future …

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The disadvantages of staying on a Standard Variable Rate (SVR)

Have you thought about your re-mortgage options? Recent consumer research carried out by Legal & General Mortgage Club, found that 41% of respondents were considering not re-mortgaging, and instead staying with their existing lender and accepting the switch to a Standard Variable Rate (SVR). So why are people opting to stay? The research uncovered these …

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Don’t just think about rate when you Remortgage

Understandably, most people seek out the lowest interest rate when re-mortgaging. In fact, 63% of respondents in a recent survey by Legal & General Mortgage Club, declared interest rates to be the most important factor when either re-mortgaging with their existing lender, or moving to another provider. Although an important factor, there is so much …

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Everybody’s talking about rates

Why are rising interest rates bad news for mortgage holders? And what role does inflation play in pushing repayments higher? Inflationary effect The pace of inflation has been well ahead of the Bank of England’s (BoE’s) target of 2% throughout 2022. In September, the consumer prices index (CPI) rose to 10.1%1. The BoE’s latest forecasts …

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Should you get advice before you Remortgage?

Remortgaging is a popular option for homeowners looking to save money on their monthly mortgage repayments, or to access the equity they have built up in their property However, the process of remortgaging can be complex and time-consuming, and a mortgage broker is essential when looking to remortgage. Research by Legal & General shows that …

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