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Rate rise “painful” for two-year borrowers

The recent rise in interest rate will be particularly painful for mortgage holders coming off a two-year deal and hoping to remain on a new fixed rate, says a leading analyst.

Lisa Taylor, analyst at, says: Two years ago, one the of best deals available was at 4.47% with a fee of 399.

“Today a similar deal with Portman would be 5.34%, a 0.87% difference.

“For an average repayment mortgage of 150,000 over 25 years, this would mean you would have to find an extra 74 a month.

Taylor adds that the compound effect of the three interest rate rises has made little difference to how lenders have reacted in terms of increasing their SVR and tracker products.


Relax chooses xit2 system

Relax Finance has chosen xit2’s Valuation Exchange to provide the online system for its panel manager Gateway Surveyors.

74% of brokers predict a good year for the market

A whopping 74% of Mortgage Strategy Online readers predict a buoyant year for the housing market in 2007. Just 26% of readers expect a downturn. Whether the number of pessimists will rise as a result of last week’s base rate increase remains to be seen.This week Mortgage Strategy asks: “Will the housing market dip in […]

Tories raise fears about economic outlook

Senior Conservative Party ministers have expressed concern about Britain’s economic outlook following publication of new statistics showing that prices are outstripping earnings while the jobs market is stagnating.Shadow chancellor George Osborne says: “This is yet more evidence that people’s earnings are failing to keep up with the rising cost of living. “Gordon Brown tries to […]

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


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