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CompareMortgageRates provides you with the information you need to Compare Mortgage Rates for the 10,000 mortgage rates available from the UK's mortgage lenders. The site provides impartial and unbiased mortgage rate comparisons of mortgage rates available today without a hard sell. It is no longer easy to compare mortgage rates at the drop of a hat. The rates displayed by lenders for a mortgage may vary depending on your circumstances. For example, one lender would only give their best rate to buyers with a 25% deposit. Those only able to make a 10% deposit had to pay an extra 0.2% interest. Other personal circumstances will affect exactly which rate you are offered, making comparing mortgage rates charts even more complicated. The best mortgage rate in a chart may not be applicable to you, a higher shown rate might actually be cheaper for your exact circumstances. To ensure that you do get the best possible details and find the lowest mortgage rates available to you, it is best to speak to an independent advisor. Complete the form below and a mortgage advisor will review your details and give you their opinion after they have compare the best mortgage rates on the market for you. If you want to compare mortgage rates the quick and easy way - let someone do it for you, for free and without obligation! Fill in the form and a qualified mortgage advisor will be able to compare mortgage rates for you and save you the effort. If you want to compare what the different types of mortgage rates mean, for example the ever popular Fixed Mortgage Rates, or if you think mortgage rates could be coming down the Discounted Mortgage Rates, take a look at our explanations. These are clearly written definitions of what the mortgages should offer for you. If you do decide to look elsewhere for mortgage comparison tables, please remember that you are comparing typical mortgage rates - the actual rates available to you will depend on your circumstances. Also, not all rates may be available to you depending on your circumstances. If you are in need of some help comparing mortgages or just need advice as to which rates are applicable to you, use the Mortgage Help Form and a broker can be back in touch for free. For more details about secured loans, unsecured loans and debt consolidation visit the loans page. Quotes for life insurance, home contents and building insurance from the UK's leading providers are available from the insurance page. Think you have problems? Want a 100% mortgage, have previous bankruptcy history, CCJs, CVAs, arrears or other bad history? Want to buy in France or Spain? An advisor can call you back at a convenient time: mortgage help. Trying to compare mortgage rates yourself can be a frightening and time consuming process. There's lots of choices and no guarantee that what you pick is the best product for you. Use the contact form below to have a mortgage broker get back to you and discuss what is relevant for your situation - it's free to talk! Or just jump straight to our Compare Top Ten Mortgage Rates pages. If you want to compare all mortgage rates in our easy to view tables, just Click Here. |
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Mortgage Rate News
June 08 - Base Rate Holds
The Bank of England has elected to keef interest rates at 5.0% this month.
May 08 - Biggest house price drop on record
The Nationwide has recorded the biggest house price drop since it began keeping records in January 1991.
The fall of 2.5% takes the annual rate of house price decline to 4.4%.
May 08 - Interest Rates To Stay The Same
As expected, the Bank of England has decided to keep interest rates the same this month.
Although expected, this will not be welcom news to mortgage holders hoping for relief from their payments.
April 08 - Mortgage Rates Up
Some banks have started increasing mortgage rates, even though the Bank of England last week reduced the base rate.
In some cases, rates have been raised twice in just two weeks.
The Libor Rate (the inter bank lending rate) is being blamed for this increase in the wake of the credit crunch.
April 08 - Interest rates down 0.25%
The Bank of England today lowered interest rates to 5.0%, but two leading banks responded by anticipating the change and raising some of their mortgage rates.
April 08 - No more 100% mortgage rates
The Abbey, the last bank offering 100% mortgage loans, has removed it's 100% products.
Over the recent months almost half of all products available from UK lenders have been removed.
March 08 - No Interest Rate Changes
The Bank of England has annouced today that interest rates will remain unchanged.
March 08 - FSA £2m Advertising Campaign
The FSA is spending around £2m on an advertising campaign to raise awareness amongst the 1.4million people it fears may struggle when fixed rate mortgage deals end later this year.
These people could be left with higher rates that mean they are paying up to 25% mor on their monthly mortgage repayments compared to current payments.
February 08 - Nationwide Increases Deposits
Further to the removal by some lenders of the low deposit mortgages, Nationwide is now only offering its best interest rate to those able to put down at least a 25% mortgage.
Those unable to raise a 25% mortgage can take an alternative with a 10% deposit, charging 0.2% more interest compared to the high level deposit.
February 08 - End of 125% Mortgages
Northern Rock has followed other lenders by removing it's 125% mortgage products.
February 08 - Removal of 100% Mortgages
Abbey National and the Alliance & Leicester have both withdrawn their 100% mortgages.
These mortgage are more often used by people who are a greater credit risk compared to those able to put down a deposit and the move is seen as a further tightenening of credit control.
February 08 - Interest Rates Cut 0.25%
The Bank of England again cut base rates by 0.25%.
9 out of the top 10 lenders responded within an hour, saying they would pass on the savings to their mortgage customers.
January 08 - 0.25% Cut Predicted
Analysts studying the Bank Of England's Monetry Policy meeting minutes from January are predicting a base rate cut in February.
The cut is expected to be 0.25% - small compare to the base rate cut in USA, but would help mortgage payers acrosss the UK.
January 08 - No Cut This Month
There is no further mortgage rate relief this month with the base rate being held by the Bank of England.
January 08 - Calls For Base Rate Cuts
Analysts are calling for the bank of England to cut base rates to give mortgage borrowers relief and save the economy.
December 07 - Up To 1,000,000 Struggle Because Of Mortgage Rates
A Bank of England report reveals that up to a million families are struggling to pay off their mortgages, with a further 1.8 million people saying they have hit problems 'at least occasionally'.
High mortgage rates compared to previous years have left many people struggling.
December 07 - Interest Rates Cut
Much to the relief of mortgage borrowers, the Bank of England has reduce the lending base rate.
November 07 - Child Benefit Agency Looses Data
The Child Benefit Agency has admitted to loosing the data of everyone who receives child benefit - some 25 million people.
The data include National Insurance number, name, address and data of birth and as such could be used by criminals in identity theft.
If you receive Child Beneift the check your credit history for free with Credit Expert.
This service will alert you to any suspicious activity so that you can stop it in its tracks.
November 07 - House Prices To Stall
A report by the Nationwide Building Society indicates house price rises coculd drop to 0%, compared to over 9% this year.
This could be good news for first time buyers.
November 07 - House Prices Could Drop
House prices could drop over the next 18 months as banks become more careful with their mortgage lending.
November 07 - Interest Rates Expected To Not Change
It is expected that the underlying rate of borrowing will not change due to inflation increases.
This will leave mortgage payers worse off compared to the lower rates of 12 months ago.
November 07 - Suprise increase in house prices
The Nationwide building society reported average house prices rose by 1.1% in October.
This puts the annual rate of house prices rises up to 9.7%, from 9% the previous month.
October 07 - 45,000 Reposessions Forecast For Next Year
The council of mortgage lenders have predited that reposessions could leap by 50% next year compared to this year.
The number of people falling 3 months into arrears on their mortgages could also increase by the same amount, it warned.
October 07 - Lenders Reversing Mortgage Offers
Lenders are using excuses of last minute problems to cancel mortgage offers already given to home buyers.
These unlucky home buyers can be losing their deposits.
October 07 - Mortgage Refusals Up 60%
The number of mortgage applications turned down over the last 6 months is up by around 60% compared to the previous 6 months.
This is seen as lenders being more cautious when agreeing mortgage and remortgage lending.
October 07 - Alistair Darling's Northern Rock Remortgage
Alistair Darling has revealed he has a Northern Rock loan at the same time as increasing protection of savings and revealing that next year savings up to £100k could be protected.
October 07 - House Prices Fall
House prices fell by 0.6% in September, fuelled by the Northern Rock crisis and the mortgage rate increases.
October 07 - Payment Schock In Store On Fixed Rate Mortgages
Thousands of home owners will have fixed rate mortgages ending in the next 12-18 months and may end up paying far higher compared to current payments.
These people might not be able to find a new fixed rate mortgage if they have any credit difficulties and could end up on bank's standard rates.
When they remortgage, the remortgage rates could be far more expensive.
September 07 - UK Needs Lower Interest Rates
The OECD has warned that a global slow down means that the UKs interest rates should be reduced to maintain the economy.
This would be great news for mortgage borrowers if it happened!
September 07 - Crisis at Northern Rock Settles
Queues at Northern Rock branches have reduced across the country as the government steps in to try to help the problem by guaranteeing savings.
September 07 - Interest Rates drop 0.5% in USA
In order to reduce the problems there, the interest rates in the US have been dropped by 0.5%.
September 07 - Northern Rock Crisis
Northern Rock has been rescued by the Bank Of England from a financial crisis with it's mortgage lenders.
The Bank has confidence that Northern Rock will recover and this problem could follow to other small banks.
The result of this has been panic by borrowers and lenders, but if you have less than £31,000 saved with the bank, then the majority of your cash is safe.
September 07 - Mortgage Rates Increased
Mortgage lenders have raised mortgage interest rates without an increase in the bank rate at the same time as Northern Rock was found to be in trouble.
This site has experienced twice its normal traffic since this was announced as people try to find new fixed rate mortgages to shelter from these rises.
September 07 - Banks Put Up Mortgage Rates
Halifax & Abbey have increased the rates they are currently charging on tracker mortgages, without the Bank of England raising base rates.
This is seen to be a direct response to problems banks are currently encountering with bad debts.
It is also expected that mortgages will become more difficult to take out, especially those with a high LTV (loan value high compared to equity).
September 07 - Experts Advise On Tracker Mortgages
Some experts are advising that tracker mortgages could be the best option currently.
These experts are predicting that falling inflation over the summer may cause the Bank Of England NOT to raise interest rates this month.
A tracker mortgage will then follow mortgage rate changes, both up and down, over the tracked term.
If you are interested in an advisor helping you to compare current tracker mortgage rates, you can use our Contact page.
*Depends on circumstances, rate chosen and broker used.
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