Mortgages.scot

What happened to the mortgage affordability stress test?

The Financial Policy Committee, part of the Bank of England held a consultation with a view to removing the requirement to stress mortgage rates to ensure robust affordability testing. They determined it was no longer needed. So why are lenders still using it?

Views

Interest Rates Rise to 4.5%

Unfortunately, rates have increased again as I predicted last month. Not as much as in previous months where we saw a number of 0.5% increases. This month we saw an increase of 0.25%.

News

Strong demand freezing out 1st time buyers

Strong demand for property in Scotland is freezing out 1st-time buyers due to significant bidding over home report value. The result is that those that have managed to save still don't have enough.

Mortgages

Cost of renting soars due to shrinking supply

The UK rental market continues to be under pressure of supply which is pushing the cost of renting up. Some more popular areas are suffering more than others.

Renting

Interest rates rise to 4%

The Monetary Policy Committee has without any real surprise increased interest rates by 0.5% to 4%. The highest it has been in 15 years.

News

Personal Finance Society - What has gone wrong?

The Personal Finance Society offers a range of financial services training to obtain qualifications and chartered status. Their parent is the Chartered Insurance Institute and it is they who appear to have fallen out with their child! Why?

Views

House prices continue to fall in 2023

House prices started to fall towards the end of 2022, as we move into 2023 the news is no better and anticipated to get worse. Some are predicting up to a 15% drop before we see any recovery. What does it all mean?

News

Open Market Shared Equity Scheme

The Scottish Government is aiming to support as many low-income and first-time buyers purchase a home this year through an initiative called the Open Market Shared Equity Scheme.

Property

Interest Rates Rise to 3.5%

As expected the base rate rose again this month. Although slightly better than the anticipated 0.75% increase the MPC voted for a 0.5% increase. The next meeting is on the 2nd of February 2023.

News

Inflation up, mortgage rates down!

It's been a mixed kind of day, inflation has reached its highest level in 40 years but mortgage rates are coming down.

News

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