Hearing ‘Rates on the rise’ in the news has become something to dread but is that really sensible? And is it something we should actively worry about?

West Midlands based building society The West Brom have announced that they are launching 10 year fixed mortgage products, something that could be a massive game changer for buyers and remortgagers.

Home sale and purchase comparison site Reallymoving has predicted that there will be a sharp increase in the value of properties on the market in the first few months of 2022 which is great news for people looking to sell.

Has your fixed rate come to an end? Are you like one of the thousands of homeowners who has put off restructuring their mortgage over the past year and are now stuck on the lender’s ridiculously high standard variable rate?

In the financial services sector, there is one burning question on everybody’s lips, will the Bank of England raise interest rates? Its not entirely unbelievable that they wouldn’t but it seems that now with inflation rising to the highest levels in 10 years, the BOE need to do something calm the waters before things get out of hand.

At the beginning of this month Skipton building society hosted a virtual talk given by their key relationships manager Derek Williams and their Head of business development Paul Fenn. The discussion was designed to give brokers and mortgage customers alike a little insight into how Skipton have viewed the past year and what their predictions are looking into the crystal ball forward to 2022 (which is less than a month away!)

Since the beginning of the pandemic in early 2020, a lot of mortgage lenders changed their stances on various parts of their criteria to both protect themselves from any potential negative effects of the lockdowns but also to help loyal existing mortgage customers who may find themselves struggling. Santander was one of these lenders.

TSB have just sent a message out to all brokers to say that they have increased their maximum Loan to Value (LTV) from 90% to 95% for self-employed and day rate contractor applicants meaning that potential new TSB clients could put down as little as 5% deposit on a new purchase.

The mortgage arm of Richard Branson’s Virgin Group conglomerate Virgin Money, have announced that they are taking the initiative to help the ever-growing number of buyers looking at purchasing under the shared ownership scheme.

Skipton building society has recently announced that they have finally returned to pre-pandemic criteria for self employed contractors after over a year and a half of restricted and strict lending criteria brought in to avoid any potential risks surrounding the pandemic uncertainty.