Should I stick with my tracker mortgage with rates falling or move to a cheaper fix? DAVID HOLLINGWORTH replies

Interest-Rates.Info - UK Mortgage & Property News - Birmingham Money - West Bromwich Money - Mortgage Brokers

I’m on a Natwest tracker mortgage but can switch to a new deal.

I owe £31,000 to be repaid over the next five years and 10 months. It’s 6.04 per cent but will come down after the latest base rate cut from the Bank of England.

I earn £3,000 a month so have been making massive overpayment. Would I be better off staying on a tracker or fixing? 

Read More

Joint mortgages being used as ‘weapons’ for domestic abuse in ‘hidden crime’, charity warns

Interest-Rates.Info - UK Mortgage & Property News - Birmingham Money - West Bromwich Money - Mortgage Brokers

Joint mortgages can be used as a “weapon” by domestic abusers against their current or former partners, a charity has warned.

A report by Surviving Economic Abuse (SEA) said survivors of domestic abuse have been left with mortgage arrears, low credit ratings, and housing and economic insecurity.

Read More

Mortgage rates finally fall for first-time buyers – best deals compared

Interest-Rates.Info - UK Mortgage & Property News - Birmingham Money - West Bromwich Money - Mortgage Brokers

First-time home buyers and those with smaller deposits have received welcome relief after mortgage rates finally began to fall.

Nationwide, HSBC and NatWest cut their fixed rates on Friday amid “frenetic” competition between big-name mortgage providers. TSB did so for the second time in a week in a rare move.

Read More

5 ways to pay your mortgage off faster

Interest-Rates.Info - UK Mortgage & Property News - Birmingham Money - West Bromwich Money - Mortgage Brokers

Why pay tens of thousands in interest payments when that money could be spent on almost anything more exciting?

If you’re able to reduce the length of your mortgage term or make overpayments, the financial rewards could be huge.

Senior Mortgage Adviser for Natwest, Michael Gyapong, takes us through the top five ways to pay your mortgage off faster.

Read More