Mortgages

More homeowners than previously thought could be trapped on expensive mortgage rates and unable to switch, the Financial Conduct Authority (FCA) has admitted. It comes as the regulator has launched a new review into mortgage prisoners who are unable to remortgage to a cheaper deal with another lender because they don't meet strict borrowing criteria. 

Nationwide has launched a five-year fixed-rate mortgage deal at 0.99% – the first time interest rates on a five-year deal have EVER dropped below 1%. While mortgage interest rates have been continually creeping down over recent months, Nationwide's latest deal is another reminder of the fierce competition between lenders. So there's no better time to check if you could save £1,000s on your mortgage now.

This is warning to EVERYONE with a mortgage. Rates have dropped below 1% – check urgently if you can switch & save £1,000s. Acceptance isn't always easy but don't just accept the status quo.

Platform and NatWest have today launched fixed-rate deals with the lowest ever interest rates seen on a two-year and five-year fix respectively, according to brokers. But while these mortgages won't necessarily be best for everyone, the headline-grabbing rates of 0.95% and 1.17% indicate that competition between lenders is currently fierce. So check now if you can save £1,000s on your mortgage.

Conservative MPs have struck down a proposed amendment to the Financial Services Bill, which would have seen interest rates capped for certain mortgage prisoners. But the Government has announced it will launch a review looking for other solutions and MoneySavingExpert.com won't give up the fight. 

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.