If you’re looking to purchase a home, understanding your mortgage options is crucial. Our blog posts in this category cover everything from fixed-rate mortgages to variable rate mortgages and everything in between. Our experts offer advice on how to find the best deals and get the financing you need to make your homeownership dreams a reality.
Prospect Tree Mortgages partner with Ecologi who are aiming to reduce half the world’s emissions by 2040. Who are Ecologi? As of February 2022, Ecologi members have planted over 33.1 million trees and reduced 1,288,251 tonnes of CO2. Ecologi are a fantastic brand who have made it easier than ever for businesses and individuals to […]
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Bank of England increased the base rate to 0.5%
Bank of England: Bank rate moves up to 0.5% Read More »
What is the scheme? The Government’s First Homes scheme in England allows first time buyers (FTB) to purchase a New Build property at a discounted purchase price under a Resale Price Covenant (RPC). The discount (which will be a minimum 30%) must be passed on if the property is sold in the future. How do
First Homes Scheme: What is it and can I benefit? Read More »
Mortgage lenders such as NatWest, Nationwide & Halifax (to name a few), have useful mortgage calculators on their websites which are free for you to use. As an example, NatWest have a simple 8 step e-form which you can fill out to get an estimated mortgage loan amount. The first 3 steps are to check
Mortgage Calculators: Will they give me an accurate loan amount? Read More »
According to one of the leading UK’s leading lenders, 2021 saw new buyers boost the housing market by a record rate. The rate in which house prices are growing is far surpassing the growth of incomes. The average price to earnings ratio for First-time Buyers in the UK is currently standing at 6.9 times average
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Should I remortgage before my fixed rate ends? 02/12/2021 What the stats are saying… Bank of England figures show that 67,200 new homebuyer mortgages were approved during November 2021. A pale comparison to the record 104,547 recorded in the same period last year. On the other hand, the statistics for remortgages appear to be trending
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What are mortgage stress tests? 15/12/2021 The Bank of England has been in the headlines again this week. This time they have released information about plans to scrap the ‘Stress Test’ rule, borrowers must be able to afford an interest rate rise of three percentage points. This plan to ease mortgage lending rules is aimed at helping
Mortgage stress tests, what does this mean? Read More »
Why income protection is a must for renters Updated – 17/11/2021 What is income protection? Income protection insurance ensures that if you are unable to work due to an accident or illness, you will still be able to keep up with any monthly outgoings. In an ideal world, with rents being so high, you should
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How long should my mortgage be? 27/09/2021 House prices increased a further 4.5% in the UK this June, now taking the average property price to £265,668. It is no surprise then that more and more buyers are starting to wonder, when and how am I going to be able to afford a home? If you
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Market Watch September 2021 “The question on everybody’s mind at the moment – what is the current market doing? The housing market is an ever fluctuating and unpredictable thing, something that has been even more apparent in 2021. With the initial stamp duty holiday doing exactly what it was supposed to do during the height
