Mortgage rates are rising again - should we be worried?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 3 May 2024
⏱️ 58 minutes
🧾️ Download transcript
Summary
A bunch of major mortgage lenders raised their rates this week - and Santander did it twice.
So, are we about to see another mortgage spike or is this just what brokers and lenders like to optimistically call a mere 'repricing'?
And what does this all mean if you need to remortgage soon or want to buy a home?
On this podcast, Georgie Frost, Helen Crane and Simon Lambert take a look at what's happening in the mortgage market, why rates are rising and whether the Federal Reserve flapping its wings on the other side of the world pushes up our homeowning costs.
Plus, Simon explains why you may not want to put all of your savings into your pension as it might dent early retirement chances.
The team look at how at the other end of the scale someone with a bigger pension than they need could pass it to their grandchildren.
Helen details a worrying Crane on the Case theft and how to protect yourself - and finally we discuss whether a passkey is the answer to our fraud fears.
Transcript
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| 0:00.0 | Welcome to This Is Money podcast sponsored by Charles Stanley Direct. I'm Georgie Frost and |
| 0:06.6 | joining me and Simon Lambert today is Helen Crane. And coming up, mortgage rates are back on the |
| 0:11.9 | rise. Are we at risk of another spike? Could the Bank of England ease the payment of mortgage |
| 0:16.5 | holders at their next meeting and what is going on over in the States? Also today, should you really pay as much as possible into your pension? |
| 0:24.6 | Crane is on the crypto case and what on earth are pass keys? |
| 0:29.4 | Don't begin to stay up to date with all the latest breaking money news. |
| 0:31.9 | Just go to this ismoney.co.uk or download the app. |
| 0:36.5 | Charles Stanley Direct Investing Made Easy. or download the app. range of investments, trade in shares, funds, investment trusts and ETFs. There's a range to |
| 0:57.1 | suit all levels of investor. Choose your own or consider our ready-made solutions. Charles Stanley |
| 1:03.6 | Direct. Sign up now. Investment involves risk. But first, for the second time in a week, |
| 1:09.1 | Santander has upped its fixed-rate mortgage deals, |
| 1:11.6 | and it is not alone. |
| 1:13.1 | Last week, more than 20 lenders increased their rates, including the likes of TSP, Halifax and HSBC. |
| 1:19.9 | This week, more join them. |
| 1:21.5 | So, Simon Lambert, are we headed for another spike? |
| 1:25.3 | But before we get there, firstly, welcome to you, both Helen, if you would. |
| 1:29.6 | Santander, what's going on here? How much extra are we talking about a little smidge up or a big, |
| 1:37.1 | whacking great hike twice? |
| 1:40.4 | It's somewhere in between, really. So they've put them up by up to 26 basis points. But that's on top of another increase that they did earlier in the week. So all in all, I think some of their deals could be going up by about 50 basis points. So it is, it's a fair whack. Yeah. And it's just to say it's actually not just Santander. So over the last |
| 2:03.7 | couple of weeks, we've seen rate hikes from almost all the big high street lenders. So |
| 2:08.4 | TSB, Halifax, HSBC, Barclays, NatWest, nationwide. So all the big high street names. |
| 2:15.8 | So yeah, if you're looking to buy home or you're looking to remortgage, |
... |
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