Our experts cut through the noise to tell you what you need to know
With over 40 years of experience behind us and some of the industry's most quoted experts in our ranks, there's not much we don't know about mortgages.
However, we know our industry is awash with jargon, so our experts aim to keep it simple. Through this blog, social media and our monthly newsletter, experienced mortgage advisers explain the nuances of the mortgage market, how economic factors influence the availability of mortgages and get to the meaning behind regulatory changes.
The Bank of England has raised the interest rate for only the second time in a decade.
It’s estimated that there are 1.67 million homeowners in the UK that are currently on an interest-only mortgage.
Following the Bank of England’s decision to cut the base rate of interest to 0.25% a total of 285 savings accounts cut their rates in August, with 20 of the best deals disappearing completely. Savers could start feeling the pinch, but if you have a mortgage and savings that equate to at least 10% of your mortgage balance one option that could potentially benefit you is an offset mortgage.
If you're a homeowners paying a standard variable mortgage rate of 2.5% and above, with a decent credit score and 10%+ equity, then you should be looking at switching your mortgage and potentially save money over the course of your mortgage.
The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.