The Mortgage Stop – As Seen In Some of the UK’s Leading Publications

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In the Media

Nationwide HSBC and TSB announce latest wave of fixed-rate mortgage cuts

“HSBC, Natiownide and TSB have all announced a fresh round of mortgage rate cuts, as lenders continue to respond positively to forecasts of falling inflation. HSBC has said it will be making reductions to the interest rates on several two, three and five-year fixed rate mortgages from tomorrow, 9 August.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Is now the time to get a tracker mortgage?

“Taking out deal that follows the Bank rate could be a ladder to short-term pain, but it might be a good move in the long term, reports George Nixon” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Action to treat brokers fairly will lead to better client outcomes

“A initiative to treat brokers fairly, unveiled by Tandem Bank, will “ultimately result in better outcomes for clients as well”, one broker has said. Tandem Bank said the initiative includes three commitments, including that the lender will look to give brokers enough notice of any changes it will make. The other commitments are to make any changes to its products during normal work hours (9am to 5pm) and to reserve a product rate for broker’s clients when a DIP is accepted through the portal.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Tandem launches ‘Treating Brokers Fairly’ initiative

“Intermediary-only lender Tandem Bank has unveiled an initiative entitled ‘Treating Brokers Fairly’. Tandem committed to continuing to prioritise brokers, by giving adequate notice of product changes, helping them support their own clients. As part of the launch, Richard Angell (pictured), national account manager at Tandem, shared his belief that brokers should be treated fairly, freed from excessive working hours and unwarranted stress, particularly during difficult times. In light of Tandem’s recognition of the broker’s importance, brokers have been sharing their reactions to this news.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Nationwide is the latest high street lender to reduce mortgage rates with cuts across its switcher range for existing borrowers

“Reductions of up to 0.35 per cent have been made to its two, three and five-year fixed options while two-year tracker deals are up to 0.2 per cent lower in pricing. This includes a five-year fix at 60 per cent loan to value (LTV) with a £999 fee, which is now 5.24 per cent, down from 5.49 per cent. A two-year fix at the same tier with no fee has been reduced by 0.35 per cent to 5.99 per cent.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Could 40-year fixed mortgages solve first-time buyer crisis?

“Could 40-year fixed mortgages solve first-time buyer crisis? Ministers consider Dutch-style solution to help borrowers get on the property ladder – but critics slam it as ‘fiddling while Rome burns’ and a ‘terrible idea’. First-time buyers in Britain who cannot afford short-term fixed rate mortgages could be offered more 40-year deals under a plan being considered by the Government. Borrowers are still having to pay extremely high rates for mortgages compared to one year ago, even though inflation is now falling at a greater rate than expected.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Is the inflation nightmare nearly over?

“Is the inflation nightmare nearly over? Hope for desperate mortgage-payers as CPI rate eases more than expected to 7.9% in June – with ‘core’ prices slowing down… but Jeremy Hunt warns against ‘complacence’. Desperate Brits were given hope that the inflation nightmare might be ending today as figures showed a sharp slowdown in prices. The headline CPI rate was running at 7.9 per cent in June, tumbling from 8.7 per cent the previous month and significantly below expectations.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Borrowers don’t know what brokers do

“How affordability is assessed and what mortgage brokers actually do are among the most common misconceptions among borrowers, according to intermediaries. New research out this week from The Mortgage Lender shone a light on some of the most frequent misunderstandings about buying your first home. For example, significant numbers had no idea they may need to pay stamp duty on the purchase, and little awareness of other costs like valuation and survey fees.”

In the Media
Rita Kohli

(Managing Director)

In the Media

UK inflation rate stands at 8.7%, highest since 1981

“The UK’s Consumer Prices Index (CPI) increased by 8.7% in the year leading up to May 2023, according to the Office for National Statistics (ONS). This figure remained the same as April’s but showed a significant drop from the 11.1% peak reached in October 2022. The inflation rate for October was the highest recorded since 1981.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Stubborn inflation piles on the mortgage pain as Bank of England is tipped to raise rates

“Stubborn inflation figures revealed today increased the likelihood of the Bank of England raising its base rate by 0.5 per cent tomorrow, heaping more pain on mortgage borrowers. Inflation in the UK stuck at 8.7 per cent, the ONS revealed, dashing hopes of a reduction. Core inflation – the important underlying figure that removes volatile food and energy costs – rose again to 7.1 per cent, the highest level since 1992.” 

In the Media
Rita Kohli

(Managing Director)

In the Media

Fears of mortgage offers expiring lead home owners to drop asking prices

“A cooling market and the fact that mortgage offers will expire after six months has handed an opportunity to buyers. Home movers are accepting lower offers on their properties because they are anxious their mortgage offer will expire, leaving them to get a new mortgage offer at a much higher rate.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

If rates are raised further on Thursday, the future is bleak” – Reaction from financial services experts

“With a meeting of the Bank of England’s Monetary Policy Committee (MPC) due to take place this Thursday (22nd June), many in the financial services industry have braced themselves for the fallout from another interest rate hike. Newspage asked financial experts to share their thoughts on the prospect of another base rate increase:” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Fears of mortgage offers expiring lead home owners to drop asking prices

“Home movers are accepting lower offers on their properties because they are anxious their mortgage offer will expire, leaving them to get a new mortgage offer at a much higher rate. A slowing property market has meant that many sellers aren’t getting the asking prices they are hoping for. But instead of holding out to see if they can, many are taking the pragmatic view to get the deal done as once you get a mortgage offer from a lender it only is valid for six months. “ 

In the Media
Rohit Kohli

(Operations Director)

In the Media

TSB gives just four hours notice before withdrawing mortgage products

“Lenders are scrambling to reprice mortgage deals as financial markets bet on further Bank of England rate increases to tackle inflation. Today the average two-year fixed rate went above 6 per cent for the first time this year, to 6.01 per cent, according to Moneyfacts. This is up from 5.98 per cent on Friday. The Bank of England is now widely expected to hike the rate by 0.25 percentage points to 4.75 per cent when its Monetary Policy Committee meets on Thursday” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Make lenders give 24 hours notice before pulling mortgage deals’

“Mortgage brokers are calling on lenders to give a minimum of 24 hours notice before pulling home loan rates. It comes as TSB has today given less than four hours notice before discontinuing a selection of its mortgage products. TSB notified lenders at lunchtime it was withdrawing all of its two, three and five-year fixed rate house purchase and remortgage products which come with a £995 fee.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

House prices see biggest drop since 2009 – Nationwide

“Average house prices in the UK fell by 0.1 per cent month-on-month to £260,736 in May, according to figures from the UK’s biggest mortgage lender.

The Nationwide house price index for May showed that the annual rate of growth also slipped to -3.4 per cent, down from an annual growth rate of -2.7 per cent in April.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

House prices UK – Nationwide reveals the latest

“Annual house price growth dropped again in May, slipping back to -3.4% from -2.7% in April, the Nationwide Building Society has reported.May also saw a 0.1% month-on-month fall in house prices. Average house prices, at £260,736, remain 4% below their August 2022 peak.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Nationwide removes interest on green additional borrowing products

“Nationwide Building Society has reduced the interest rate on its green additional borrowing to 0% to support mortgage members who are improving the energy efficiency of their homes.

The new 0% green additional borrowing products, which will be available from June 1, will enable up to 5,000 households with a Nationwide mortgage to borrow £5,000 to £15,000 up to a maximum of 90% loan-to-value (LTV) across the two- or five-year product term.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Skipton unveils 100% mortgage for reliable renters

“Skipton Building Society has launched a mortgage for first-time buyers which requires no deposit in a bid to help more renters on to the property ladder. The ‘Track Record Mortgage’ is available for tenants who can provide evidence they have the affordability for a mortgage and who can prove they have a reliable history of making rental payments.” 

In the Media
Rita Kohli

(Managing Director)

In the Media

Sunak considering relaunching Help to Buy scheme – brokers react

“Over the weekend it emerged that the government is considering restoring the Help To Buy scheme ahead of the next General Election. The Times reported that Sunak is drawing up plans to boost support for first-time home buyers by bringing back the Help to Buy Equity Loan scheme.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Return of Help to Buy – It’s not ‘the painkiller for the FTB headache’

“Mortgage experts have hit out at proposals to revive the Help to Buy scheme, which was pulled earlier this year. A report in The Times said the Prime Minister Rishi Sunak was considering re-introducing the first-time buyer scheme as part of attempts to help more people onto the property ladder.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Brokers split on potential return of Help to Buy

“Those in the mortgage advice space are split on the announcement this week that the government is considering a return of Help to Buy, but many have said reintroducing it would be a good thing – so long as the government makes some tweaks.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

New Help to Buy would push up house prices: Brokers

“Early government plans to bring back Help to Buy have been slammed by brokers as a recipe for inflating house prices and benefitting housebuilders. Prime Minister Rishi Sunak’s government is looking at proposals to revive the scheme, ahead of the next election.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Majority of brokers say mortgage affordability is more complex

“The majority of brokers have said they are working harder to secure mortgages for their clients as affordability has become more complex, research by a sourcing system provider has found.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Cover feature – Work in progress – WFH or back in the office?

“Has the pandemic-induced change in working habits done the market good? For some there is no going back, but for others the novelty has definitely worn off.”

In the Media
Rita Kohli

(Managing Director)

In the Media

Longer mortgage terms becoming commonplace, brokers say

“We’ve certainly seen more clients, of all types but particularly younger first-time buyers, wanting to keep the monthly payments as low as possible and longer-term mortgages are one way of achieving it.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

IMF says high interest rates ‘temporary’ and could slide back to pre-Covid levels

“Homeowners hit with surging mortgage repayments may be relieved to hear that interest rates could soon fall back down to the record-low levels seen in early 2020 and beyond.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Interest rates to return to pre-pandemic levels when inflation is tamed

“The International Monetary Fund has said that “recent increases in real interest rates are likely to be temporary”.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Interest rates to return to low levels once inflation calms, IMF

“UK interest rates will return to low levels once inflation settles, the International Monetary Fund (IMF) is predicting. The IMF’s World Economic Outlook, which looks at how the UK economy will perform compared to its peers around the globe, says rates are likely to head back to the historic lows if the country gets on top of inflation.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

What the 0.25% interest rate rise means for your mortgage and savings: Bank of England ups base rate to 4.25%

“The Bank of England has upped base rate from 4 per cent to 4.25 per cent, the latest decision by its Monetary Policy Committee in a bid to curb inflation. It is the Bank of England’s eleventh consecutive base rate hike in 14 months – taking base rate from just 0.1 per cent in December 2021 to 4.25 per cent today.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Interest rate hike more likely as inflation makes surprise rise

“There is more pressure on the Bank of England to hike interest rates tomorrow after inflation unexpectedly increased in February from 10.1% to 10.4%.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

UK Inflation unexpectedly jumps to 10.4% in February – advisers and mortgage experts share their responses

“With the latest UK inflation data published this morning showing an unexpected jump to 10.4% to the end of February from 10.1% in January, it will not only give the Bank of England’s MPC lots to think about ahead of their interest rate decision tomorrow, but also for consumers it reminds us that the cost of living crisis is far from over.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

House prices still up 6.3% YoY in January 2023, but slowing from December 2022 figures – ONS

“Average UK house prices rose by 6.3% in the 12 months to January 2023, down from a 9.3% increase in December 2022, with the average house price standing at £290,000, £17,000 higher than a year ago.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

If you can’t afford your mortgage: What the FCA’s lender guidance means for borrowers

“One of the main City watchdog shas estimated an extra 356,000 mortgage borrowers could face payment difficulties by the end of June 2024, in addition to those who are already behind.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Do mortgage comparison sites have a role in advice? – Brokers and advisers share their views

“Newspage, asked brokers what they think of mortgage comparison sites. Some believe they have a role, others believe they simply cause confusion. Their thoughts have been shared exclusively with IFA Magazine.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

Halifax February House Price Index – reaction from lenders, estate agents and brokers

“Following the Halifax February House Price Index announcement, brokers, estate agents and property experts have shared their thoughts with IFA Magazine.” 

In the Media
Rohit Kohli

(Operations Director)

In the Media

5 Live Breakfast 2nd February 2023

“Rachel Burden and Chris Warburton with unique stories, and the biggest news and sport. At 7.05 Rita Kohli, MD of The Mortgage Stop, based in Hampshire is interviewed on the latest Bank of England base rise.”

In the Media
Rita Kohli

(Managing Director)

In the Media

Mortgage term extensions jump in popularity but should be ‘last resort or short-term plan’ – analysis

“First-time buyers and home movers are increasingly extending their mortgage terms to 35 or 40 years in order to lower their payments, but brokers warn that it should only be considered as a last resort or a short-term plan.”

In the Media
Rita Kohli

(Managing Director)

In the Media

BBC Radio 5 – Wake Up To Money – Reeling from the Rate Rise

“Reeling from the rate rise. Rita Kohli, Managing Director of The Mortgage Stop, was interviewed by the BBC Radio 5 “Wake Up to Money” on the impact on mortgages following the Bank of England’s 0.75% interest.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

Brokers battle to beat the scourge of conditional selling ‒ analysis

” Brokers have been urged to educate clients on the pressure tactics they are likely to experience from estate agents, pushing them to use the agent’s own mortgage adviser, in order to combat conditional selling.”

In the Media
Rohit Kohli

(Operations Director)

In the Media

First-time buyers need to quadruple deposits to beat mortgage mayhem

“Average borrower would need to find an extra £81,510 to get onto the housing ladder. First-time buyers must now quadruple their deposits to get onto the housing ladder as mortgage rates stick at 6.5pc, new research shows.” 

In the Media
Rita Kohli

(Managing Director)

In the Media

Risk of limited company BTL mortgage prisoners on the rise ‒ analysis

“The changes to limited company buy-to-let mortgage products in the fallout from the mini Budget risk creating a swathe of landlord mortgage prisoners, it has been claimed.”

In the Media
Rohit Kohli

(Operations Director)

You are now leaving the website of The Mortgage Stop Ltd and we cannot be held responsible for the content of this external website.
You are now leaving the website of The Mortgage Stop Ltd and we cannot be held responsible for the content of this external website.
You are now leaving the website of The Mortgage Stop Ltd and we cannot be held responsible for the content of this external website.