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MSE News: What's happening to mortgage rates following the mini-budget reversal – MSE's analysis
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Mortgage is up Apr 23
Based on that tiny bit of evidence, there does seem to be a slight downward movement in mortgage costs.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
I'm afraid I can't answer that one for you. The mortgage advisor told me that a credit search was being made when the offer was being considered but no search has appeared on my credit report as yet (either soft search or hard). I don't know if my situation is different though because I got the offer through my current provider and it might be they do not require a full search because of my history with them.
I also didn't require an in person valuation, they used a digital valuation so I don't know if this has consequences for your ability to pull away from the offer.
Have you paid any fees yet? The advisor indicated that if fees were paid then it's more difficult to leave the offer without penalty. My offer is fee free.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
@mi-key I'm not an expert on this by any stretch of imagination but perhaps it's something to do with lower swap rates and (perhaps more importantly) a much less volatile near/medium term outlook, compared to a few weeks ago. This helps give lenders some confidence to price products.
HSBC also reducing some tracker and low LTV fixed rates from tomorrow.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
What’s changing?