New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Financial Services > Mortgages > Mortgages News

July sees mortgage rates boost

Bookmark and Share
       

Mortgage prices grew by 0.8 per cent in July, according to figures.

Furthermore, the annual rate of growth in mortgage rates is more than double that of July last year, statistics from mortgage provider Nationwide indicate.

However, the building society's group economist, Fionnuala Earley, states that the rise in mortgage prices has not lessened the number of UK residents looking to find a mortgage.

House prices have been increasing more quickly than earnings for some time and fixed-rate mortgage rates have been increasing since mid-April, she said.

However this does not seem to have dampened demand as much as we may have expected.

Ms Earley asserts that as less Brits are able to find a mortgage they can afford, more are turning to rental properties.

This is boosting tenant demand and keeping the buy-to-let mortgage sector buoyant, Ms Earley states.

The expert also comments that more mortgage lenders are offering a higher loan-to-value deal, in a bid to help first-time buyers find a mortgage.

Recent figures from the Bank of England for June showed an increase in the number of mortgage approvals, with total mortgage lending rising by �9 billion for the month.

Bookmark and Share

Recommended Links

Copy and Paste the following HTML into your page.

Receive Mortgage Advice from a Regulated Advisor

Mortgage advice

There is no better time to be seeking suitable mortgage advice from a Regulated mortgage advisor

Submit your details today for an obligation-free chat and a regulated mortgage advisor will call you back to help you find the mortgage that best fits your needs.

We will only provide your details to one regulated advisor.

Your mortgage

 * Help
 * Help
 * Help
 Help
 Help
 *

About you

 *
 *
 *
 *
 *
 *
 *

Questions marked with * are required

Please be aware that the advisor who contacts you will be a third party advisor who has no connection with us. There is no charge to you for using this service. We are paid by charging your assigned advisor a fee for this service. Any advice or assistance given to you by a third party advisor does not represent our advice or assistance and is not checked or endorsed by us. It is your decision whether or not you act on any advice or assistance you are given.

By clicking “Proceed” you confirm that:

  • You accept our Terms of use; and
  • You would like to be contacted by a regulated third party advisor to discuss your needs.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Financial Services Net Limited and other trusted 3rd parties would like to keep you advised via e-mail or telephone of products, services and other exciting offers we think may interest you. Please untick this box if you do not consent to us contacting you for further information.

       
Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.

Free mortgage quoteFree Mortgage Quote

Mortgages in Scotland Mortgages in Scotland

Equity releaseEquity Release

  • Unlock equity in your home.

Switching mortgagesSwitching Mortgages

Home reversion plansHome Reversion Plans

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover

Mortgage Newsletter