Mortgages

If you've secured a mortgage rate, but that deal hasn't yet started, it's worth checking now if you can get a cheaper rate, as many offered on new mortgages are now lower than they have been in the last few weeks. Most lenders won't charge you a fee to cancel, and a cheaper deal could save you £100s. 

If you need a new mortgage you might now be much better off sticking with your existing lender than switching to a new one. We look at the difference between 'sticking or twisting', and why the balance between the two has shifted.

Homebuyers and those looking to remortgage can now take out a five-year fixed deal that charges less than 5% interest. It's the lowest shorter-term fixed rate for new customers we've seen in a month and suggests rates have peaked following recent turbulence. Below we explain how the new deal works and how it compares. 

The cost of fixed-rate mortgage deals has started to fall, despite the Bank of England's base rate rise last week, as the volatility caused by the Government's mini-budget in September looks to have eased. Variable-rate mortgages are rising, though – here's what you need to know if you're looking to get a new deal.

The Bank of England has increased the base rate from 2.25% to 3% – the largest single rise since 1989. This rate is used by the central bank to charge other banks and lenders when they borrow money – and so it influences what borrowers pay and what savers earn.

First-time buyers planning to use a Help to Buy equity loan to fund a new-build property purchase have until Monday (31 October) to submit their application. Almost 10 years since its original launch, the Government's equity loan scheme will close for good in March 2023, but anyone who wants to take part must apply by the beginning of next week.

Planning to fix your mortgage? You might want to wait a little while longer before doing so as you could end up paying more than you need to. That's the warning MoneySavingExpert.com founder Martin Lewis gave in the opening episode of the new series of ITV's The Martin Lewis Money Show Live.

Interest rates on mortgages could start falling in the next few weeks, following the Government's reversal of its mini-budget which has helped calm the financial markets. If you're looking to get a new mortgage deal soon, here's our latest analysis.

Even if you are locked into your mortgage you might be able to get a new rate at today's prices with several major lenders increasing how far in advance existing borrowers can tie into new deals. The change comes as interest rates are on the rise with the base rate hitting 2.25% in September.

Turmoil in the markets has increased the attractiveness of longer-term mortgage deals. Currently, interest rates on many 10-year fixes are not far off those of shorter deals. In fact, the rate on the cheapest 10-year fixed mortgage is actually lower than any two-year fix.