The Telegraph1 day agoGap between mortgage and savings rates worst since financial crisisThe Telegraph - By Charlotte GiffordBanks are scrambling to pass rising rates onto mortgage customers while leaving saver's money to languish, as the gap between home loan and savings rates reaches its widest point in 15 years. Last week the Bank of England increased the Bank Rate for the sixth time since December, this time by a half …
The Telegraph4 days ago‘My mortgage costs have soared by 76pc’The Telegraph - By Melissa LawfordHundreds of thousands of homeowners’ mortgage bills could nearly double as soaring interest rates push up the cost of borrowing. Customers coming to the end of fixed-rate deals face enormous jumps in their monthly bills when they remortgage – sparking fears of an affordability crisis. Maurice …
The Telegraph5 days agoSavers finally feel benefit of rising rates as new best-buy account launchesThe Telegraph - By Melissa LawfordSavers can finally enjoy some of the benefits of rising interest rates following the launch of a new best-buy account. Zopa Bank has this morning raised the rate on its easy-access savings account to 1.81pc, ahead of the previous market-leading Shawbrook Bank account, which pays 1.75pc. Banks have …
The Telegraph5 days agoHomebuyers only have 17 days to bag the best mortgage dealsThe Telegraph - By Rachel MortimerHomebuyers have just 17 days to secure the best mortgage deals before they are pulled from the market, as rates jump to the highest level in eight years. The time to sign up to a loan has hit a record low, according to analyst Moneyfacts, after high-street lenders pulled fixed-rate deals within …
The Telegraph6 days agoWealthy homeowners seek out interest-only mortgages to cut costsThe Telegraph - By Melissa LawfordHomeowners and buyers are racing to switch to interest-only mortgages as they scramble to cut costs in response to soaring mortgage rates. But experts warned borrowers could be playing with fire as they risk becoming trapped and unable to pay off their mortgages. Adrian Anderson, of Anderson Harris …
The TelegraphEnergy bills forcing homeowners to take out loans for longerThe Telegraph - By Rachel MortimerHouse buyers are struggling to take out 25-year mortgages as soaring energy bills have made it harder to pass bank affordability checks. Borrowers are instead being forced to take out 40-year mortgages to spread the cost of their loans and make repayments affordable. Millions of people face paying …
