Ed Magnus

3 days ago | thisismoney.co.uk | Ed Magnus

Interest rates are on a downward trajectory, leaving mortgage borrowers approaching the end of their current deal with a decision to make. The majority of mortgaged households are on fixed rates, with most tending to choose between either a two-year fix or a five-year fix. Of the 7.1 million households currently on fixed rate deals, around 1.6 million need to switch to a new rate over the course of this year, according to UK Finance.

6 days ago | thisismoney.co.uk | Ed Magnus

First-time buyers are now being offered the chance to get a mortgage without having to make repayments for the first three months. The mortgage is with Skipton Building Society, and is available to those buying with smaller deposits. Known as the Delayed Start Mortgage, it is intended to give borrowers some financial breathing space and help them to budget for other costs such as furniture and decorating. It is even being endorsed by Location Location Location property expert, Phil Spencer.

6 days ago | thisismoney.co.uk | Helen Kirrane |Ed Magnus

The Bank of England cut interest rates today from 4.5 per cent to 4.25 per cent. The decision came as little surprise to financial markets, with the 0.25 percentage point cut widely predicted by analysts. It followed the US Federal Reserve holding rates last night. While it might spell good news for mortgage borrowers, it won't be received well by savers, as it might bring bank and building society savings rates down.

6 days ago | thisismoney.co.uk | Ed Magnus

The typical home rose in value by just under £900 in April, according to the latest figures from Halifax. The mortgage lender revealed that house prices rose by 0.3 per cent last month meaning that year-on-year the average property is up 3.2 per cent. While only slight, it is the highest level of annual growth recorded so far in 2025. The typical property, according to Halifax's mortgage data, is now valued at £297,781 - a rise from £296,899 in March.

1 week ago | thisismoney.co.uk | Ed Magnus

Britain's biggest building society has cut its mortgage rates for the second time in two weeks, with changes including a new best-buy for home movers. Nationwide has cut rates by up to 0.3 percentage points across a number of two, three, five and ten-year fixed rate mortgages. It has also lowered its two-year tracker products. Halifax has also announced it will be reducing rates by up to 0.18 percentage points while and TSB and Virgin Money are lowering deals by up to 0.2 percentage points.