Articles
First-time buyer tips
It can be daunting to search and apply for a mortgage if you have never bought a property before. There may be terms you’ve never heard of or parts of the process you never knew existed. If you’re planning on buying your first home this year, we have put together three of our top tips to help you along the way. These tips could save you money and make your journey less stressful.
First-time buyer process
What is the process of buying a home in the UK? This is a question typically asked by first-time buyers. This quick post will chronologically list the key steps involved when buying a UK property. On average, the typical purchasing process takes between 2-6 months, depending on a number of factors. But what does that process look like?
Are we getting a UK digital currency?
The Treasury and The Bank of England (BoE) will start consulting on the possibility of a UK digital currency. The proposed digital currency would be launched by the central bank, making it a type of fiat currency rather than a standalone cryptocurrency with no regulation. It could be used to pay for goods and services throughout the UK as legal tender, but it would not replace the Great British Pound.
Metro Bank sells 33% of its mortgages to NatWest
Metro Bank has just sold around one-third of its residential mortgage products to high-street bank NatWest. The sale of these mortgages is estimated to affect 13,000 homeowners.
The portfolio of mortgages sold to NatWest consisted of an average outstanding debt of £238,000 with an average Loan to Value (LTV) ratio of 60%. The average fixed-rate interest term is two-and-a-half years.
Summary of the Bank of England’s MPC Meeting
The Bank of England’s Monetary Policy Committee (MPC) reconvened on Tuesday 2nd November to vote on what should happen to the bank’s base rate of interest. The meeting – which is one of eight per year - has been one of the most eagerly anticipated for years, considering the rising rate of inflation off the back of the pandemic.
