Glenn Merchant’s Post

According to the Central Bank of Ireland, 'borrowing levels relative to incomes continue to be materially lower than in the early part of this century'. While house prices remain high, mortgage affordability is actually better than it was 15 to 20 years ago. Additionally, the availability of long-term fixed rates, coupled with the growing reliance on market-based advice from borrowers, provides much-needed peace of mind. www.gomortgagebroker.ie #firsttimebuyer #mortgages #homebuyers #mortgageswitching

Six big banking names accused of 'blatant profiteering' for raising UK mortgage interest rates while cutting savings rates [And this list is by no means complete, by the way. -LF] [Sky News] Savings Champion founder Anna Bowes said: "The latest inflation data should mean that the Bank of England will pause again before cutting interest rates - good news for savers but bad news for borrowers. "However, some providers have made or are planning cuts to their savings rates anyway."

Bank of England base rate review and mortgage rates 🏘️ The Bank of England's Monetary Policy Committee today voted in an almost resounding majority to cut the interest rate by 0.25% down to 4.75%, which was widely anticipated by the majority of mortgage and economic experts 📉 I've created a quick overview of what it means for mortgage borrowers and especially fixed rate mortgages. The US is also expected to cut its interest rate tonight following this weeks election result and victory for Donald Trump. Read more: https://lnkd.in/ekKt8B4X Interesting times for mortgage borrowers who were only 12 months ago being told that interest rates could peak at 6.5%... we could even see a return to 3.5% interest rates according to some experts from Goldman Sachs. Less favourable times for savers and potential good news for other lending and business borrowing.

🏦 Bank of England Could Aggressively Cut Borrowing Costs – Good News for Mortgage Borrowers 🏦 Great news for mortgage borrowers! Goldman Sachs predicts that the Bank of England will cut interest rates from the current 5% to 2.75% by November 2025, a faster pace than expected. This aggressive move to lower borrowing costs comes as inflation in the UK continues to fall. With interest rates predicted to decline over the next year, borrowers could benefit from reduced mortgage costs, providing much-needed relief after the sharp rise in rates. If Goldman Sachs’ forecast is accurate, the Bank of England could deliver quarter-point rate cuts at each of its next nine meetings. If you’re considering buying a home or refinancing, this news might offer a brighter outlook for securing lower mortgage rates in the near future. Contact Eldridge Estates at 02088 546 732 to explore your options and stay ahead of these market changes. #MortgageRates #BankOfEngland #InterestRates #RealEstate #EldridgeEstates #HomeBuying #PropertyMarket #MortgageBorrowers

https://lnkd.in/eFPEt2Qp It is not surprising that during the COVID-19 era, loan interest rates, including mortgage rates, were at historically low levels. As a result, banks have lost billions of pounds over the past two years. Consequently, a significant financial crisis is expected to occur in 2025, leading to a substantial increase in delinquencies and defaults for the majority of households. Unless the new government implements significant changes, we can anticipate a housing market crash similar to the one that occurred in 2008.

💥 BREAKING NEWS REGARDING THE BANK OF ENGLAND BASE RATE 💥 THE BANK OF ENGLAND BASE RATE HAS NOW BEEN REDUCED TO 4.75% DOWN FROM 5% 👏 The MPC (Monetary Policy Committee) meet eight times a year to discuss The Bank of England Base Rate. This is the second decrease this Calendar year where we entered 2024 with The Base Rate at 5.25%. What does this mean? 🙋🏼♂️ Mortgage lenders have already announced that Tracker Products will decrease by 0.25% and existing mortgage customer payments will also decrease in line with this. Lenders SVR (Standard Variable Rates) often referred to as their Follow On Rates will be decreasing also. 👏 This is positive news in The UK Mortgage Market! ‘Candour advice for your financial future!’ 🗣️ #BankOfEnglandBaseRate #RateCuts #Reductions #MortgageAdvice #MPC #MonetaryPolicyCommittee

📈 Why are mortgage rates still rising even with a base rate cut? https://lnkd.in/exXZwE4v It’s a question on many minds: the Bank of England has reduced its base rate, yet mortgage rates aren’t following suit. Instead, they’re creeping up – and the key factor behind this shift is something not everyone knows about: swap rates. At Hybrid Financial, we’ve broken down the critical role swap rates play in driving mortgage costs, along with the broader economic forces impacting these changes. For anyone considering a mortgage, especially with rates in flux, understanding this is more important than ever. 🔍 Dive into our latest article to find out: - What swap rates are and why they matter - How lenders are responding to financial uncertainty - What this means for buyers, renters, and current homeowners The mortgage market is complex, but the right insights can help you make smarter moves. Read more below to stay informed and reach out if you’re ready to discuss your mortgage options with an expert team. 💼 #HybridFinancial #MortgageRates #UKMortgage #SwapRates #HomeBuying #InterestRates #FinancialPlanning

The Bank of England have finally cut interest rates, the first time in 4 years. Curious about how the recent Bank of England rate cut will impact your finances? From potential changes to your mortgage payments to shifts in savings rates and borrowing costs, these are covered in the article below. Find out what this rate cut means for your wallet and what steps you might need to take next. #BankOfEngland #InterestRateCut #FinanceTips #MortgageRates #SavingsRates https://buff.ly/4d63dHE.

The decline in profits reported by UK banks amid high mortgage rates underscores the delicate balancing act they face in a challenging economic environment. As interest rates climb, mortgage demand wanes, impacting banks' lending activities and subsequently their revenue streams. Moreover, the pressure to offer competitive interest rates on savings accounts further squeezes profit margins. This confluence of factors highlights the need for banks to navigate carefully, considering both the macroeconomic landscape and consumer behavior, to maintain financial stability and sustain profitability in the face of fluctuating market conditions. https://lnkd.in/ehaTGrf2

News Desk - UK Bank of England rate holds at 5%. 📢 Ben Thompson, Deputy CEO at Mortgage Advice Bureau said: “It’s business as usual, in terms of interest rates. But there’s no need to worry, as this was signalled for some time and it was always unlikely for the Bank to cut rates in consecutive months so early on in the cutting cycle. “September has already seen cuts across the mortgage market for those refinancing, and with innovations and reductions also coming for first time buyers, it’s shaping up to be a positive autumn in the housing market.” To read more, click link below. 👇 🔗 https://lnkd.in/e8xxfUYU #BankRate #BankofEngland #Mortgages #MortgageAdviceBureau #RateCut