Expert Knowledge & Professional Service

Some of the biggest banks and building societies have increased their mortgage rates over the last few days, including Nationwide, HSBC and Halifax. Despite the rising rates, most mortgages are still well-priced.

Nationwide for Intermediaries offers a two-year fixed-rate mortgage at 3.87% and the lender has a five-year fix at just below 3.99%. These rates undercut many of the other big banks and building societies.

Nationwide’s most competitive rate is 3.87%, and it is available for homebuyers to borrow between £300,000 and £5 million. There is a £1,499 arrangement fee, and applicants must make a 40% deposit to qualify. The sub 3.99% five-year fix has the same minimum and maximum loan sizes and the same arrangement fee.

Aaron Strutt, product director at Trinity Financial, says: "Mortgage rates have been edging up recently, and while they are more expensive, they still offer good value for money. It seems likely that other lenders will push up their rates this week. Not all lenders are increasing their rates; some specialist providers are actually cutting prices. For example, Kensington has reduced its prices by up to 0.44%.

"One of the good things about Nationwide is the way borrowers can book a rate for up to 90 days, providing a mortgage offer is produced in that time. Other lenders do not allow their decisions in principle to last so long."

Representative example: A capital and interest Nationwide mortgage of £400,000 payable over 30 years, initially on a two-year fixed rate basis at 3.87% for two years and then on the lender's 6.74% standard variable rate for the remaining 28 years. The 3.87% rate would require 24 monthly repayments of £1,879.80 followed by 336 payments of £2,552.95. The total amount repayable would be £904,420.40 made up of the loan amount, plus interest (£502,906.17) and £1,499 (product fee), £65 (final repayment charge), £15 (completion fee). The overall cost for comparison is 7.1% APRC representative.

Greatest number of low-deposit deals for 17 years: Moneyfacts

The number of mortgage deals available for borrowers with a 10% or 5% deposit reached its highest level for 17 years this month, figures from Moneyfacts show. There are 464 deals for those with a 5% deposit and 896 deals with a 10% deposit, meaning a combined total of 1,360 product options for borrowers with a deposit of 10% or under. There are also more lenders offering really low deposit mortgages for those with less than 5% to put down.

Call Trinity Financial on 020 7267 9399 to secure a mortgage, book a consultation, or complete our mortgage questionnaire. 

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage

New mortgage data from Barclays Property Insights reveals that more first-time buyers are purchasing semi-detached properties, as they report a greater appetite for ‘forever homes’.

The continued push by banks and building societies to offer income-stretch mortgages, larger loan sizes, and lower deposit deals is making it easier for many first-time buyers to secure more generous mortgages and buy semi-detached homes. 

Barclays mortgage data shows that three-bedroom homes are the most popular choice for properties, making up 46.4 per cent of all purchases in August. Millennial homeowners, aged 28 to 43, are the most likely age group to prioritise extra space – over a fifth (22 per cent) say they bought a property with more bedrooms than they currently need, to avoid upsizing later. This compares to just 13 per cent across all ages.

Aaron Strutt, product director at Trinity Financial, says: "Most people want to have outdoor space, but if they live in an expensive area, they need to have a sufficiently large salary to borrow enough to get a house. It is generally possible for first-time buyers to borrow between 4.5 and 6 times their salary through a range of lenders. Barclays' data is interesting because it highlights that the recent income multiple changes are allowing more younger people to buy larger properties. This is a trend our brokers have noticed."  

First-time buyers and semi-detached homes

Barclays data shows first-time buyers are increasingly turning to houses, with semi-detached properties making up over a third (33.5 per cent) of August’s first-time purchases, up 1.7 per cent year-on-year. The bank says flats declined in popularity by 2.7 per cent, accounting for a fifth (19.6 per cent) of first-time buyer homes. 

A third (33 per cent) of recent Gen Z buyers², aged 18 to 27, said they bought a ‘forever home’ so that they wouldn’t have to move. Similarly, nearly three in 10 (27 per cent) of all recent buyers said they intend to stay in their new home for at least 10 years.

When choosing a property, individuals at different life stages tend to prioritise certain features, but this really does depend on the area buyers are purchasing in. Nearly half (49 per cent) of those aged 44 to 59, and 40 per cent of Millennial homeowners said they prioritised having a garden or outdoor space. Comparatively, only a third (32 per cent) of Gen Z felt the same. Meanwhile, Gen Z were much more likely to want a dedicated work from home space (28 per cent) compared to 20 per cent of Millennials and just 9 per cent of Gen X.

Borrowers opting for longer mortgage terms to keep costs down

Barclays data also shows an increase in the popularity of 30+ year mortgage terms. Among first-time buyers, these account for 41.3 per cent of purchases, as they are typically younger and so have longer to pay back a mortgage.

When asked about their preferences, nearly four in 10 (37 per cent) mortgage holders feel 30-40-year terms are more desirable than shorter durations because they could mean lower monthly repayments. This comes as four in 10 homeowners (41 per cent) believe their mortgage payments take up too much of their monthly income. On average, homeowners report their mortgage accounts for 27.7 per cent of their take-home pay, up from 26.6 per cent in July.

Call Trinity Financial on 020 7267 9399 to secure a  mortgage to buy a semi-detached or detached house or book a consultation

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage 

Source: Barclays press release

Effective from Monday, 1st September, HSBC introduced changes designed to make home ownership more accessible—particularly for first-time buyers (FTBs)—and to provide greater flexibility for non-FTB customers.

HSBC for Intermediaries is the latest lender to start offering 5.5 times salary mortgages to first-time buyers, providing single applicants earn £35,000 or joint borrowers have a combined income of at least £55,000.

Aaron Strutt, product director at Trinity Financial, says: "So many of HSBC’s rival lenders are offering higher income multiples that the bank probably decided it needed to make the change to keep up with the competition, as well as to help more first-time buyers borrow the money they need to get on the property ladder."

Improved Mortgage Income Multiples for HSBC's Non-First-Time Buyers

HSBC has also implemented positive changes for non-first-time homebuyer mortgage customers.

For applicants with an income between £45,000 and £100,000 (exclusive), HSBC has increased the maximum loan-to-income from 4.75x to 5.00x income, where the applicant has a deposit of at least 15% of the property value. 

Summary of HSBC's Mortgage Affordability Changes

Here’s an overview of the updated HSBC lending multiples:

If you’d like to discuss how these changes could benefit you, our team is here to help.

Call Trinity Financial on 020 7267 9399 to secure a first-time buyer mortgage or book a consultation

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage 

Farmhouse mortgages to buy Alan Titchmarsh's stunning £3.95 million listed home 

There are numerous factors to consider when purchasing an expensive country house with land, particularly when seeking a multi-million pound mortgage. 

While there is a good choice of banks, building societies, and private banks offering larger mortgage loans, they can be picky about properties and the applicants and their finances.

Because Manor Farm House is a 17th-century high-value, Grade II listed home with land (4+ acres, outbuildings, special features, etc.) near Alton, Hampshire, lenders will be much more “bespoke” in their approach.

Aaron Strutt, product director at Trinity Financial, says: "Clearly this is a really stunning property and you would rightly assume most lenders would be keen to issue mortgages, but there are some complexities about the property that may put them off. More lenders are issuing competitively priced £1 million+ mortgages at the moment, and our brokers have a track record of getting country house mortgages agreed."

Some of the key issues with buying Alan Titchmarsh's stunning home include:

• Valuation issues: It seems likely the property valuer any lender sends to inspect the property is going to love it, but the listed status, outbuildings, gardens, and ancillary accommodation may complicate valuation.

• Deposit/equity: Lenders usually want a larger deposit / lower loan-to-value on high-value homes. Especially if the client needs to use a private bank or a more conservative lender, but Trinity's brokers have access to one private bank that would lend on this property with a 10% deposit, provided the client is wealthy enough. 

• Income & wealth: A Higher income is required; assets (investments, savings, other properties) will be scrutinised. For a £3 million mortgage, applicants will probably need to earn around £675,000.

• Affordability & stress tests: Interest rate rises, maintenance costs of a large home, listed property maintenance, etc, will be factored. For higher earners, it is possible to borrow around five times salary. 

• Private / High Net Worth (HNW) lenders: Not all lenders offer mortgages over say £2 million or £3 million, but many of them do. 

Which lenders can and do offer mortgages for properties in this price range

Here are lenders & types of providers that are likely to consider mortgages on such a property, and what their features are:

What documentation would you need to show?

To place a successful application on a property like Manor Farm House, you’d likely need:

1. Strong equity or deposit: Probably at least 10%-25%, depending on lender, possibly more. If you can bring 30-40% that gives more options.

2. Clear proof of income / assets: Salary, bonuses, investment income, perhaps trust income, foreign income if applicable. If self-employed, several years’ accounts.

3. Good credit history. Very clean up front.

4. Valuation reports: Given the listed status is grade two, this should not be an issue with most good lenders. 

5. Maintenance or running cost estimates: Lenders will want to see that the cost of owning (insurance, upkeep, listed building constraints) is manageable in your budget.

6. Flexibility in repayment: Some lenders require some capital repayment or will only allow interest-only or partial interest-only in certain circumstances. This is know as bullet repayments. 

Call Trinity Financial on 020 7267 9399 to secure a country house mortgage or book a consultation

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage 

Latest Property Market Trends: SDLT Changes, Rising Fees & Joint Borrower Sole Proprietor Applications

By Steph Lyke, Conveyancing Solicitor – SAS Daniels LLP

The property market has continued to evolve in response to regulatory and economic shifts over the past year. One of the most significant changes we've seen recently is the amendment to Stamp Duty Land Tax (SDLT) thresholds, which has had a direct impact on buyer behaviour, particularly among first-time buyers.

As a conveyancing solicitor, I’ve observed several key trends that are shaping how buyers approach property purchases in today’s market. Below, I explore the latest SDLT developments, the financial pressures facing first-time buyers, and the increasing use of Joint Borrower Sole Proprietor (JBSP) arrangements to make homeownership more accessible.

SDLT Threshold Reductions: What’s Changed?

In April 2025, the government announced a reduction in the SDLT nil-rate threshold for first-time buyers, lowering it from £425,000 back to £300,000, a rollback to pre-2022 levels. The revised rates now look as follows for first-time buyers:

• 0% on the first £300,000
• 5% on the portion between £300,001 and £500,000
• No relief for purchases over £500,000

This move was part of a wider fiscal strategy aimed at increasing tax revenues, but it has had a ripple effect across the property market, particularly for younger buyers trying to get onto the ladder.

The Impact: Transactions and Buyer Behaviour

The immediate aftermath of the SDLT threshold change has been noticeable:

• According to HMRC data, first-time buyer transactions fell by 12.6% in Q2 2025 compared to Q1.
• The average SDLT bill for first-time buyers in London has risen by £3,750, placing additional strain on affordability.
• Nationwide, there has been a 9.2% increase in average conveyancing costs, due to more complex funding arrangements and additional legal checks, particularly where joint income is being used.

With affordability stretched and mortgage rates still high (averaging 5.1% for 5-year fixed deals), many buyers are being forced to look for alternative solutions.

Rise of the Joint Borrower Sole Proprietor (JBSP) Mortgage

One of the more prominent trends in 2025 has been the surge in Joint Borrower Sole Proprietor (JBSP) applications.

What is JBSP?
This mortgage model allows a parent or close relative to support a mortgage application by contributing to the affordability assessment, without being a co-owner of the property.

JBSP by the Numbers:

• Lenders report a 22% year-on-year increase in JBSP mortgage applications in 2025.
• Over 30% of first-time buyers in Greater London now use a JBSP arrangement, up from 18% in 2023.
• Solicitors are reporting longer transaction timelines due to the need for independent legal advice and more complex lender requirements.

From a legal perspective, it’s essential that all parties understand the implications, especially where a supporting borrower is making financial contributions but has no legal interest in the property. We are increasingly providing independent legal advice to non-owning parties to satisfy lender conditions and ensure clarity.

What This Means for Conveyancing Solicitors

The current climate demands more nuanced legal advice and more robust documentation. For clients using JBSP structures, we often:

• Advise on lender requirements and independent legal representation
• Flag potential SDLT risks (e.g., where additional property ownership might inadvertently trigger higher rates)

While JBSP can be an excellent tool, it’s not a one-size-fits-all solution, and both buyers and their supporting borrowers need to consider long-term impacts such as remortgaging, inheritance, and exit strategies.

Final Thoughts

The SDLT threshold reduction has undoubtedly added pressure to an already strained group: the first-time buyer. However, the market is adapting. Creative financing solutions like JBSP arrangements are helping more people access property, albeit with greater legal complexity.

As conveyancers, our role is no longer just to facilitate the transaction, but to guide clients through these increasingly intricate funding structures, ensuring compliance, protection, and peace of mind at every step.

If you're considering purchasing a property using a JBSP mortgage, or you're unsure how the recent SDLT changes may affect you, feel free to get in touch with our team for tailored legal advice.

Get in touch with Steph and the SAS Daniels team on 01244 305 910 or send them an enquiry

The information contained within was correct at the time of publication but is subject to change

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage  

Millions of homeowners are choosing to improve and extend their property rather than move home according to new research.

Data from Churchill home insurance reveals that one in 15 homes in England and Wales (1,740,402 homes) now carry official improvement Indicators, following substantial home improvements, such as loft conversions and extensions.  

Additional research by Churchill reveals the practical and emotional reasons that discourage homeowners from moving. For 40%, the sheer stress of moving, including packing, dealing with property chains, and hosting viewings, is a major deterrent. A strong emotional connection to their home (32%) and a deep attachment to their community and neighbourhood (31%) also play significant roles in discouraging people from seeking out a new home.

Aaron Strutt, product director at Trinity Financial, says: "Lots of our clients are remortgaging to release funds to pay for home improvements. It often makes sense to release funds when your fixed rate comes to an end rather than getting additional borrowing; this way, you have one mortgage rather than a mortgage on two parts that potentially have different end dates. With so much competition in the market to attract borrowers, there are more remortgage options, especially for those keen to raise funds." 

Homeowners choosing to improve their home rather than move. Surprisingly, financial factors such as removal costs (24%) and legal fees, including conveyancing (23%), rank lower than an emotional connection to a home. These pressures, however, often make staying put and improving a home a more appealing and less disruptive option than moving.  In 2023/24 alone (the last full year data available), 103,043 homes were added to the Valuation Office Agency’s register following significant improvement work.

Table 1: Top factors that would discourage homeowners from selling their home and moving