Mortgage News, Insights & Advice
All the latest UK mortgage news, insights and advice from the world of mortgage lending and Oportfolio
Teachers Building Society Offers 7x Income Mortgages for Teachers
Teachers Building Society has announced a major change to its mortgage criteria, confirming it will now lend up to 7 times income at 95% loan-to-value (LTV) for teachers and education professionals. In this blog, we will run through the changes from Teachers BS, and...
What is a Second Charge Mortgage?
A second charge mortgage is a type of secured loan that allows homeowners to borrow money against the equity in their property, while keeping their existing mortgage in place. Rather than replacing your current mortgage (as with a remortgage), a second charge mortgage...
Bank of Ireland Expands Bespoke Mortgage Range with 6x Income Lending
Bank of Ireland has announced a brilliant shakeup to its Bespoke mortgage range, increasing maximum income multiples and loan sizes to help more buyers access higher-value properties and lending options that weren’t previously available. The changes should help...
Oportfolio Helps a Non UK Resident Get a Mortgage
One of the trickiest things to do in the UK mortgage world is to get a UK mortgage if you don't live in the UK currently. So for example, if you own a buy to let in London and need to remortgage but live in Australia, this can be a difficult mortgage to arrange on...
Base Rate Rises For 13th Time To 5%
Yesterday the Office of National Statistics (ONS) announced that despite the Bank of England base rate rises over the last few months, inflation had failed to decrease from the last time that data was collected. UK inflation currently remains at 8.7%, much higher than...
Organised Clients Get the Best Mortgage Rate
Rates are rising rapidly, and lenders are being forced to re-structure their deals as inflation remains high in the UK. It is important to be tactical with mortgages now more than ever, and it is important to secure the best possible rate as soon as possible. Our...
Minimum Contractor Mortgage Criteria Changes
Being a contractor can be a great way of earning more money for your skills and expertise. Whether you choose to be a self employed contractor paying your own tax and national insurance or an employed one, being a contractor can allow flexibility with your work and...
TSB and Skipton Introduce New Products To Market
Mortgage lenders TSB and Skipton Building Society have send messages to brokers this morning to inform them that they will be re-introducing products to the mortgage market. These new products are higher in interest rates than they previously were and follow suit with...
Are Long Fixed Term Mortgages the Solution?
Traditionally, people purchasing, remortgaging or doing a product transfer on a residential property are advised by brokers and banks to take a fixed term mortgage. A fixed term mortgage means that your mortgage product and rate are fixed in place for a number of...
Average 2-Year Fixed Mortgage Rate Now Over 6%
Financial information company Moneyfacts have reported that the average 2-year fixed mortgage rate now stands at over 6% meaning that borrowers looking to get a 2-year fixed rate loan or are coming off their current fixed deal and are hoping to get a new low rate, are...
What Could a 6% Base Rate Mean For Mortgages?
Please note that this is an opinion piece and is purely hypothetical, exploring what could happen. Not what will necessarily happen. This week, several economists suggested that we could see a 6% base rate from the Bank of England within the next 12 months. Despite...
Barclays Mortgage Policy Changes You Need To Know
There have been some recent changes to Barclays mortgage policy announced today, that everyone needs to be aware of. Barclays, like many other lenders of late, have been making major changes to their mortgage affordability and their interest rates. Unfortunately for...
Skipton Remove Their Residential Base Rate Tracker
In a message to brokers this morning, Skipton Building Society have announced that they will be removing their 60% loan to value (60% mortgage) residential base rate tracker products from their lending offerings. They have also announced a complete refresh of their...
Being a First Time Buyer Is Getting More Expensive
It is no secret that being a first time buyer and achieving home ownership in the UK is more difficult than it once was. In the past property prices were cheaper, mortgage lenders were more generous with their affordability checks, and 100% mortgages were commonplace...
Banks Not Accepting Mortgage Applications?
Despite only being six months into 2023, the mortgage market has certainly gone through enough changes and instability for a lifetime! Rates have increased, lenders have pulled rates and made changes to their affordability criteria to make borrowing more difficult....
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