Mortgage rates are unlikely to improve in the near future so now is the ideal time for borrowers to secure a fixed-rate deal on their mortgage. Borrowers who are on a standard variable rate (SVR) or coming to the end of their term have the potential to save themselves thousands of pounds on their mortgage […]
Overseas buyers and expats are sizing up the UK property market for potential bargains, taking advantage of the weak pound and falling property prices, according to the latest figures released The property portal found that searches for UK property by overseas buyers have grown steadily over the last 12 months. They now account for 6.6% […]
There has been a surge in re-mortgage activity this year, as expat borrowers look to lock into cheap deals ahead of an expected interest rate rise. Since the financial crisis in 2008 mortgage rates have steadily fallen. This led to a number of lenders slashing their rates and competition in the mortgage market heating up. […]
The Bank of England has refused to rule out cutting interest rates to below zero to boost the economy, but the move would penalise savers while rewarding homeowners. The Bank’s governor, Andrew Bailey, has confirmed that negative interest rates are under “active review” after being questioned by MPs on Wednesday. Speaking at a hearing with the […]
The average interest rate for two-year and five-year fixed rate mortgages has dropped to the lowest level since records began in 2007. Why are mortgage interest rates dropping? The Bank of England has made two emergency cuts to the base rate (the bank’s set interest rate for lending to other banks) in response to the coronavirus pandemic. These […]
Definitely yes! One big difference between the challenges of 2020 and the economic turbulence of 2008’s credit crunch is that there is no issue with the liquidity for banks and building societies. Expats should review their UK mortgage and potentially save thousands Make no bones about it, 2020 is the year of the expat re-mortgage. […]
In March 2020 the Bank of England made two emergency cuts to the base rate, The cut from 0.25% to 0.1%, made in response to the coronavirus pandemic, means the base rate is at its lowest level in the Bank’s 325-year history. In the immediate aftermath of this reduction, banks and building societies withdrew some of their mortgage products. […]
Expats should take heart The direct and indirect impact of COVID-19 has affected the performance of different sectors and financial markets in different ways. The world’s major indices have suffered considerable losses – recently, it was reported that The Dow Jones Industrial Average crashed by almost 32%. Other financial assets have so far proven resilient, […]
There is no doubt the developments in the expat mortgage market in response to the coronavirus crisis are moving at a frenetic pace. Helping clients is crucial for everyone in the industry currently, keeping on top of all of these updates to help navigate the best options for individuals is very important at this time. […]
Definitely yes! One big difference between the challenges of 2020 and the economic turbulence of 2008’s credit crunch is that there is no issue with the liquidity for banks and building societies. They have the means and the willingness to lend. However, what we are seeing are disparities with how each lender responds to the […]
