Congratulations on making it through January! For many, it’s a never-ending month of storms, cold snaps and resolutions. On the other hand, February can be incredibly positive for many people looking to buy their first homes, move house, remortgage, review protection and life insurance cover, and lay down some solid plans for 2024.
Get Rate Reassurance in 2024
"I'm nervous about 'locking in' a new mortgage, what if lenders drop their rates before my completion?" Clients often ask this question, and there’s no need to worry. We offer 'Rate Reassurance' and track the latest mortgage rates and deals, so you don't have to.
If lenders drop rates or introduce new products, we simply switch you.
And if rates go up, you benefit from locking in your product early.
If you're buying a property, moving or remortgaging in the next 6 months, we’ll monitor your options until completion, ensuring you're still getting the most suitable deal. Book a free, no-obligation initial consultation to discuss your options and get 'Rate Reassurance' with Stratton Thorpe Mortgage Solutions.
*Switching to another lender may incur additional costs.
Refer your friends and EARN £50!
If you’re an existing Stratton Thorpe client, don’t forget about our Referral Scheme. Earn £50 for passing on our details to your family, friends, and colleagues. Learn more…
mortgage NEWS & UPDATES
Busy week of rate cuts: Moneyfacts
The rate cut activity was busy this week, with several lenders improving their fixed rate deals.
As Moneyfacts finance expert Rachel Springall explains, these movements led to a fall in the overall average two- and five-year fixed mortgage rates.
“Some notable cuts were made by a few of the most prominent brands in the market, such as Santander by up to 0.45%, TSB by up to 0.45%, Lloyds Bank by up to 0.15%, Halifax by up to 0.15%, RBS by up to 0.40%, NatWest by up to 0.69% and HSBC by up to 0.40%”.
Springall also points to many building societies cutting rates this week, those lenders to make cuts to selected fixed rates included Darlington Building Society by up to 0.80%, Loughborough Building Society by up to 0.76%, Saffron Building Society by up to 0.60%, Buckinghamshire Building Society by up to 0.50%, Scottish Building Society by up to 0.50%, Monmouthshire Building Society by up to 0.49%.
Also, Furness Building Society by up to 0.46%, Tipton and Coseley Building Society by up to 0.45%, Leeds Building Society by up to 0.43%, Suffolk Building Society by up to 0.40%, Coventry Building Society by up to 0.37%, Principality Building Society by up to 0.34%, Leek Building Society by up to 0.37%, Skipton Building Society by up to 0.27% and West Brom Building Society by up to 0.22%.
Not to go unnoticed, cuts were also made by Aldermore by up to 0.50%, Gen H by up 0.16%, Clydesdale Bank by up to 0.62%, Yorkshire Bank by up to 0.15% and The Mortgage Lender by up to 0.88%.
“These latest cuts will be welcome news for borrowers who are waiting for mortgage rates to reduce before they lock into a new deal. It is widely expected for rate cuts to continue to drop in the coming weeks, so close eyes will be on swap rates”.
SOURCE - MORTGAGE STRATEGY
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We’re incredibly proud to receive so many 5-star reviews from happy clients. Here are a few new ones…
Managing a mortgage after divorce or separation
Divorce or separation can be a traumatic experience, especially if there is a joint mortgage to consider. Our team has experience in helping couples in this situation. We have divorce and separation mortgage capacity appointments available now.
✔️ 𝗕𝗲 𝗼𝗽𝗲𝗻 𝗮𝗻𝗱 𝗵𝗼𝗻𝗲𝘀𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗹𝗲𝗻𝗱𝗲𝗿 Contact your mortgage lender as soon as possible to update them on your circumstances – especially if there are repayment issues.
✔️ 𝗪𝗵𝗮𝘁𝗲𝘃𝗲𝗿 𝗵𝗮𝗽𝗽𝗲𝗻𝘀 – 𝗸𝗲𝗲𝗽 𝘂𝗽 𝘆𝗼𝘂𝗿 𝗿𝗲𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 Both you and your partner are responsible for the repayments. Moving out of the home does not remove your legal obligation to keep up repayments.
✔️ 𝗝𝗼𝗶𝗻𝘁 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗮 𝗱𝗶𝘃𝗼𝗿𝗰𝗲 𝗼𝗿 𝘀𝗲𝗽𝗮𝗿𝗮𝘁𝗶𝗼𝗻
1. Take over the mortgage yourself
2. Be bought out of the mortgage by your ex-partner
3. Sell up and go your separate ways
Each option will involve dealing with your existing or a new mortgage lender, an independent valuation of your home to determine its current worth, and the proportion of the house you are entitled to.
✔️ 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝘀𝗽𝗲𝗮𝗸𝗶𝗻𝗴 𝘁𝗼 𝗮 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗯𝗿𝗼𝗸𝗲𝗿? Mortgage brokers remove much of the paperwork and hassle of arranging a mortgage with access to exclusive products and rates often unavailable to the public.
Whilst this might be a new experience for you both, Stratton Thorpe has years of dealing with divorce and separation mortgage clients. We're here to help.
