Many of us are wise after the event, but consider this regarding those of normal working age: - 109,448 UK adults, aged 18-65 died in 2020 - that equated to 1 every 5 minutes. - Currently, over 2.5 million people in the UK are off work long-term due to sickness....

In June this year a MORTGAGE CHARTER was agreed between the government and the majority of lenders to help protect vulnerable residential mortgage borrowers, at a time of rising interest rates and with many coming towards the end of their Fixed Rate deals.

800,000 borrowers are coming to the end of their fixed rate deal in the second half of 2023. This equates to around one-tenth of all borrowers. (Source: UK Finance, June 2023) Broadly, for those now looking to remortgage, there could be three main options to consider:...

Fixed Rate borrowers If you’re on a fixed rate deal, then any change in the Base Rate would not affect you until your deal period ends. Although, it may influence decision-making 6 months+ ahead of the end of your deal period. And will markedly affect the 800,000...

Converging movement of Swap Rates and Bank of England Base Rate

Swap Rates influence Fixed Rate mortgage deals. The 5-year Swap, for example, rose to 5.21% following the mini-Budget in September, and dropped to 3.25% at the start of February. Since then, it’s recently fallen after a long upward path.
(Sources: Chatham Financial, Sterling Overnight Index Average (SONIA) Swap rates, to 3 August 2023; Bank of England Base Rate, to 3 August 2023)