Mortgages

The House of Lords has voted in favour of an amendment to the Financial Services Bill, which could see interest rates capped for certain mortgage prisoners. But the House of Commons needs to approve the change before it can take force.

Accord Mortgages will become the first lender to bring back standard 5% deposit mortgages after the majority of lenders pulled out of the low deposit market a year ago due to fears the coronavirus crisis would have a negative impact on borrowers' ability to afford loans. 

MoneySavingExpert.com founder Martin Lewis has had his pleas for more help for mortgage prisoners heard in the House of Lords this week, as new rules were proposed which could see interest rates capped for some.

Homebuyers and movers in England and Wales can fix their mortgage rate 'for life' later this month as Habito has revealed it will allow borrowers to lock in for up to 40 years with no early repayment charges. But while fixing gives you peace of mind over your repayments – you're taking a bet that you won't be able to save more in the long run by switching to cheaper rates in the meantime.

A ban on bailiff-enforced rental evictions in England, which was introduced at the start of the coronavirus pandemic, has been extended again until 31 May 2021. 

The Chancellor Rishi Sunak has told MoneySavingExpert.com founder Martin Lewis that the Government will keep looking for solutions to help mortgage prisoners, after Martin tackled him on the issue.

Homebuyers in Wales will continue to pay no transaction tax on properties purchased for up to £250,000 until 30 June - but the rates in Scotland will return to their usual level from 1 April.

The current stamp duty holiday in England and Northern Ireland has been extended until the end of June, and some relief will continue until the end of September, the Chancellor announced in the Budget today. 

Millions of homeowners in England will be given a new right to extend their lease by 990 years and not have to pay any ground rent, while extending a lease or buying a freehold will also become cheaper for many, under sweeping new Government reforms.

Martin Lewis has called on the Government to act to help "mortgage prisoners" as he gave evidence to the Treasury Committee about the financial impact of the coronavirus pandemic, warning that more households could become trapped as a result of the crisis.