Rob Clifford

1 month ago | mortgagestrategy.co.uk | Roger Baird |Becky Bellamy |Rob Clifford

The Bank of England voted to maintain the interest rate at 4.5% in the face of higher wage demands and trade uncertainty brought by a global tariff war sparked by US President Donald Trump.  Rate-setters at the Bank’s Monetary Policy Committee voted 8–1 to hold, with external member and long-time dove Swati Dhingra pushing for a quarter-point cut. Policymakers reiterated their “gradual and careful approach” in the minutes of the March decision.

1 month ago | mortgagestrategy.co.uk | Roger Baird |Rob Clifford |Andrew Montlake

The lowest mortgage rate on the market is a two-year fixed rate loan, with a 40% deposit at 3.86%, according to the Rightmove weekly mortgage tracker. This fix is down 9 basis points on a week ago and 60bps on the year. However, the property website adds that the average two-year fix with a 40% deposit is 4.25%, down a single basis point on last week and 45bps from a year ago. The average five-year fix with a 40% deposit is 4.18%, down 2bps on the week and 16bps from 12 months earlier.

1 month ago | mortgagestrategy.co.uk | Rebekah Commane |Rob Clifford

So spring has sprung once again and, while we’re still assessing the lay of the mortgage market land, one thing you can say about 2025 so far is, it hasn’t been boring. There’s not much to be said about what’s going on across the pond as of yet. Monty has delved into the situation eloquently as ever in Market Watch this month, but the ramifications for the UK economy remain to be seen.

1 month ago | mortgagestrategy.co.uk | Leah Milner |Becky Bellamy |Rob Clifford

First-time buyers are being pushed further out of the capital and other urban centres, Office for National Statistics analysis of FCA mortgage data suggests. By examining data for the 10 years to 2023, the ONS found that several London boroughs were among the local authority areas with the steepest falls in first-time buyer numbers over the past decade.

1 month ago | mortgagestrategy.co.uk | Roger Baird |Rob Clifford

HSBC has cut its standard variable rate on residential mortgages and relaxed lending criteria for international customers. The high street bank’s revert rate falls to 6.74% from 6.99%, the lowest it has been since January 2023.