MortgageBlog.scot

0.5% Increase to interest rate

It comes as no surprise that when the Monetary Policy Committee met today they agreed to increase interest rates. It was almost a given that it would be a 0.5% increase.

Will removing the affordability stress test help me?

I have been getting a few questions all with the same theme around the removal of the affordability stress test. Understandably many are still confused as to what it actually means for them when it comes to applying for a mortgage and what the impact or indeed benefits are.

Knockderry Castle for sale

Knockderry Castle is interesting as a Scottish castle for sale but also for some other reasons, namely the current owner and her history in relation to not paying her bills which have led to the sale after she was evicted in March. Although nothing to do with bills on the property, more on that later.

Barclays buys Kensington Mortgages

Barclays have announced they are purchasing Specialist Lender Kensington Mortgages, subject to regulatory approval for a price around £2.3bn. It is one of the more interesting deals in the market of recent years.

Affordability Stress Test is going!

Following on from a previous post I wrote in March around a consultation being run by the Bank of England regarding the removal of the mortgage affordability stress test, the result is in. Surprisingly it is going to be removed from the 1st August 2022.

Interest rates move to 1.25%

The Bank of England increased rates again today, from 1% to 1.25%. It was not unexpected and a further increase is anticipated next month. Whilst it does not have a significant impact for most it is adding up to a significant amount when you consider this is the 5th rise in recent months.