Mortgages

New research from Edinburgh's Smart Data Foundry has revealed the significant impact of bank rate rises on consumer finances in Scotland.

Two-year fixed mortgage rates are falling faster than longer-term deals for the first time in two years, as the Bank of England signals a gradual approach to reducing interest rates. Santander is now offering a two-year fixed rate below 4% on a 60% loan-to-value mortgage, while other major lenders h

Several of the UK's largest mortgage lenders have significantly reduced interest rates this week, with some deals now available for under 4%, according to Moneyfacts. The move comes after the Bank of England recently cut its base rate to 5%.

Lloyds Banking Group has announced it is increasing its maximum loan-to-income ratio for first-time buyers from 4.49 to 5.5. Through Lloyds Bank and Halifax, the 'First-time Buyer Boost' is a new step in the group’s efforts to help more customers buy their own homes.

UK mortgage rates have fallen, with the lowest five-year fixed rate dropping below 4% for the first time since April 2024. Nationwide Building Society is leading the charge, offering a 3.99% five-year fix and cutting other fixed deals by up to 0.25 percentage points.

The UK's largest banks have become engaged in a fierce competition to attract borrowers, resulting in significant cuts to mortgage rates. Halifax, HSBC UK, Barclays, Santander, Natwest, and Yorkshire Building Society are among those who have lowered their fixed-rate deals this week.

Miller Homes has teamed up with Own New to offer reduced mortgage rates for buyers of new build homes in Scotland. The 'Own New Rate Reducer' product enables customers to lower their interest rate for the initial mortgage term on a new Miller home while owning 100% of the property. It has been launc

A forthcoming report from the Building Societies Association (BSA) highlights the urgent need for substantial changes in the current housing market to facilitate the entry of prospective first-time buyers onto the property ladder, without compromising the prospects of future generations of homebuye

UK Finance has unveiled its housing and mortgage market forecasts for 2024 and 2025, alongside a review of 2023 showing that the UK mortgage market has experienced significant pressures in 2023 due to rising interest rates and increasing household costs.

August saw an increase in net borrowing of mortgage debt by individuals, marking the fourth consecutive month of growth, with a significant rise to £1.2 billion, up from July's £0.2bn. In contrast, the UK observed a decline in net mortgage approvals for house purchases, dropping to a six

A significant drop in the number of interest-only (750,000) and part-interest-only (245,000) mortgages has been recorded by the Financial Conduct Authority (FCA).

NatWest and Nationwide have announced substantial increases in interest rates, and the withdrawal of several mortgage products.

HSBC, which accounts for nearly a quarter of the home loans market, has withdrawn all of its residential, buy-to-let and business mortgage deals.

An unprecedented number of first-time home buyers have committed to mortgage terms of 35 years or longer due to escalating costs, UK Finance data indicates. In March, 19% of all first-time buyer loans were for periods of 35 years or more, marking the highest proportion since 2005 and more than doubl

First-time buyers in Scotland paid less for a deposit in Q1 than the last three months of 2022, according to new data from TSB.