First Mortgage News

The Scottish Government’s Open Market Shared Equity (OMSE) scheme is now paused for new applications, following huge demand for First Time Buyers and other eligible priority groups throughout Scotland. The OMSE scheme, part of the Scottish Government Low-Cost Initiative for First Time Buyers (LIFT scheme) is designed to give people a bit of help to […]

The Scottish Government has announced that Low-cost Initiative for First Time Buyers (LIFT) mortgage scheme is re-opening for new 2024 applications. One of the two LIFT schemes, the Open Market Shared Equity Scheme (OMSE) is opening for new applications in 2024. This is great news for Scottish homebuyers, making the dream of owning your own […]

Base rate holds at 5.25%   Today, 21st March 2024, the Bank of England announced that it is holding the base rate at 5.25%, despite signs that inflation is beginning to slow. There was no expectation that the rate would be reduced, but holding the rate does show signs that we are in a slightly […]

Lower mortgage rates for 2024   2024 is off to an optimistic start for UK homeowners who need to remortgage. January has seen price competition intensify with significant rate cuts from some of the UK’s biggest lenders. This week, Barclays and Santander joined Halifax and HSBC with announcing significant rate cuts on residential mortgage products. […]

On the 3rd of August, the Bank of England increased the interest base rate from 5% to 5.25%. However, there seems to be some positivity amidst this rate hike, thanks to the behaviour of mortgage lenders leading up to the announcement.     We witnessed major banks such as Santander, Barclays, and HSBC take steps to […]

Inflation has been a contentious hot topic throughout the past year, with a range of reactions. However, recent developments suggest a shift towards a more optimistic outlook. The Office for National Statistics has recently reported a significant drop in the UK’s inflation rate to 7.9% in the year to June 2023. This is the lowest […]