The Bank of England recently reduced the base rate to 4.5%, with further cuts expected later this year. This reduction has already had a significant impact on mortgage affordability. Lenders’ Stress Test and Affordability Lower interest rates can enhance...
Client Background Our clients, a young couple consisting of a UK citizen and a Canadian citizen, both working as veterinarians in Canada, faced the challenge of remortgaging their former residential property in the UK. Their goal was to switch from a variable rate to...
In the world of mortgage brokerage, being directly authorised is a significant milestone that brings both autonomy and accountability. But what exactly does it mean, and why should clients consider working with a directly authorised broker? Let’s delve into the...
Client Background: A couple was looking to purchase a larger family home. One applicant was a director of a limited company, with each holding a 25% share, giving them a combined 50% ownership. Additionally, one of the partners was employed part-time. Objective:...
Positive Rate Shift The mortgage market is experiencing a positive shift as rates show signs of improvement. Currently, the two-year fixed rate at a 75% loan-to-value is 4.39%, and the five-year fixed rate stands at 4.26%. However, it’s noteworthy that these...
