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Banks and building societies will be hoping for a busy start to 2025 by offering competitively priced rates and more generous loan sizes. However, as the value of the pound falls and government borrowing costs rise following Rachel Reeves's budget, fixed-rate mortgage price hikes may not be far away.

HSBC has announced two separate mortgage rate improvements this year, while Halifax lowered some rates by up to 0.35%. Most mortgage lenders still offer a range of competitively priced fixed rates, including HSBC's two-year fixes priced around 4.2% and its five-year fix priced just over 4%, but these rates may not be available for long.

Mortgage lenders are undoubtedly offering more generous income multiples and larger loan sizes, partly because the Bank of England base rate changes have enabled them to reduce their affordability stress tests. 

Santander is still forecasting four base rate cuts from the Bank of England in 2025 despite sticky inflation and turbulent bond markets.

Santander forecasts four base rate cuts from the Bank of England in 2025, despite sticky inflation and turbulent bond markets.Santander forecasts four base rate cuts from the Bank of England in 2025, despite sticky inflation and turbulent bond markets.

Frances Haque, the Chief Economist at Santander UK, said, “This month, we’re already seeing swap rates edge up as they respond to volatility in the bond market, caused by an uncertain economic outlook for 2025 both at home and abroad. As such, lenders may well – in the short-term - nudge up pricing to reflect the higher swaps.

"With just less than a month to go until the next Monetary Policy Committee announcement, all eyes are on this week’s inflation and GDP data to give some indication of how close the next cut from the Bank will be. As it stands, with inflation proving to be more persistent but with growth weakening, the MPC is likely to proceed cautiously. Our own forecasts continue to expect a further four cuts over the course of this year, with base rate ending the year at 3.75%, and remaining between 3-4% for the foreseeable.”

Call Trinity Financial on 0808 1642174 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

TSB for Intermediaries is offering a new mortgage option to help tenants buy rented homes from their landlords.

TSB’s “5&5 concessionary mortgage” is available when landlords offer tenants a 5% discount on the purchase price. The buyer also needs to contribute at least 5% as a deposit.

The mortgage will operate in addition to TSB’s 10% scheme. Under this option, landlords sell their property to tenants at a 10% discount or more on its market value, meaning the buyer doesn’t need a deposit.

According to the government's latest English private landlord survey, the lender points out that 31% of landlords plan to sell properties they rent out over the next two years, often because of increased mortgage costs, higher taxes and additional regulation.

Increased mortgage costs mean many landlords want to release their gains and exit the market. A 5% discount could be offset by the savings on estate agency fees and not missing out on several months of rental payments.

Aaron Strutt, product director at Trinity Financial, says: “This is a pretty niche product from TSB, but it is helpful for landlords and tenants. Concessionary purchase mortgages are usually related to family property transactions, such as when a parent sells to their adult children at a reduced price.

“Some landlords are keen to sell their properties to long-standing tenants because they have a good relationship with them but also because they don’t have to go through the hassle of finding a buyer or paying estate agency fees.”

TSB’s product means tenants with more generous landlords and a 5% deposit can access slightly cheaper mortgage rates. Some lenders are offering no-deposit mortgages or 3% deposit mortgages.

Roland McCormack, mortgage distribution director at TSB, said: “This can be a great option for the buyer as they get a discount, but also because they know the area and the property well already. It makes the process easier and smoother. For the seller, it makes the process easier and smoother. They don’t have to have a tenant move out of the property, do it all up, and then wait several months – all while not receiving rent."

Could Skipton's Track Record mortgage be an alternative option? 

Skipton for Intermediaries is still offering its 100% Track Record mortgage to those renting and not owning a property in the last three years.

Applicants must have paid all the rent for 12 months in a row, within the last 18 months and the lender may want to see proof that household bills have been paid and on time. Borrowers must be over 21 to apply, have no missed payments on any credit agreements within the last six months, and borrow up to £600,000.

Call Trinity Financial on 0808 1642174 to secure a buy from your landlord 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 

UK Finance has published its housing and mortgage market forecasts for 2025. This year, it expects gradual mortgage affordability and market growth improvement, fueled by lower mortgage rates and cost pressures.

UK Finance, the trade body representing 300 financial firms, expects mortgage lending to homebuyers to rise by 10% on last year to £148 billion by the end of 2025. The trade body also predicts that the number of people remortgaging away from their existing bank or building society will increase by 30% to £76 billion. 

Incredibly, the number of people sticking with their existing lenders when their mortgage rates end is due to rise by 13% to £254 billion, and buy-to-let mortgage lending is set to drop by 7% to £9 billion.

Upbeat forecast for 2025

UK Finance’s latest figures provide an upbeat forecast for 2025. Lower interest rates and easing cost of living pressures will increase mortgage affordability and buying activity.

The organisation says its predictions are based on a good 2024, which, although it saw activity well below previous years, 2025 should see considerable rises in mortgage lending as economic confidence returns.

Source: UK Finance

Anthony Emmerson, director of Trinity Financial, says: "We are optimistic about the upcoming year, especially as lenders are keen to issue more mortgages. However, there are things to be concerned about, particularly with Donald Trump becoming president again in a few weeks with potential trade tariffs and their effect on our inflation position here in the UK plus the ongoing wars.

“I still expect the Bank of England base rate to come down a few times this year and mortgage rates to edge down, boosting the property market and making mortgages more affordable. 2025, in particular, has a higher number of remortgages coming up for renewal, and the sooner borrowers can secure a rate, the better. We consistently swap our clients to cheaper rates when they come down, but the important thing is to get a deal agreed.”

Call Trinity Financial on 0808 1642174 to secure a 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 

Vida Homeloans has launched a range of 97% loan-to-value mortgages designed to help borrowers get on the property ladder with a 3% deposit.

The specialist mortgage bank's new ‘3 & Easy’ products have been designed to help long-term renters and first-time buyers get a foot on the property ladder or begin to move up the chain. 

The lender offers a choice of five- and seven-year fixed rates, starting from just below a rather high 7.50%, and there is a £995 arrangement fee to access the most competitively priced rates. The products are available to employed and self-employed borrowers, applicants with some adverse credit, those with complex or second job income, and contractors.

There is also a potential loan term of up to 45 years, assisting customers even further with affordability. Part of the mortgage is available on interest only; the minimum loan size is £50,000, and the maximum loan size is £750,000.

Aaron Strutt, product director at Trinity Financial, says: “The rates are not cheap, but there are not many mortgage options available to borrowers with really small deposits of less than 5%. Vida's rates are available for property purchases and remortgages, which is unusual.

"Many low- or no-deposit mortgages are available to borrowers with a track record of renting and first-time buyers. Accord Mortgages has a 1% deposit mortgage, and Skipton has a no-deposit mortgage available to renters. TSB has also just launched a 5% deposit mortgage for renters, and landlords willing to give 5% equity when they sell to their tenants."

Does taking Vida's 3% deposit mortgage at such a high rate makes sense?

Before borrowers opt for a rate like this, they need to make sure there are no alternative and cheaper options, or they can’t get a bigger deposit by saving up for longer or tapping into the Bank of Mum and Dad.

If you are willing to pay nearly 7.5% for a mortgage, you will probably take a smaller loan size. After five years, borrowers can switch lenders without paying an exit fee, and hopefully, they can get a better rate, providing they have at least 5% equity in the property.

This deal is designed to get people who want to get on the property ladder when they have a minimal number of alternatives.

Call Trinity Financial on 0808 1642174 to secure a 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 

By Oliver Crudgington, Founder of Barton Hawk Property Buying Consultancy

For most people, buying a home is the biggest financial decision they’ll ever make. It’s not just about securing a roof over your head; it’s about investing in a property that aligns with your lifestyle, long-term goals, and financial well-being.

At Barton Hawk, we focus on empowering our clients with the confidence to make informed decisions. While finding the right property is crucial, understanding how to maximise its value and ensure you’re not overpaying can set you on a path to financial success. Here’s how we help our clients buy smarter while saving money.

The Barton Hawk approach

When you partner with Barton Hawk, we don’t just guide you to a home—we guide you to the right decision. We specialise in:

• In-depth market analysis: With our deep understanding of the property market, we ensure you’re armed with comparable evidence to understand a property’s true value.
• Negotiation expertise: Our proven negotiation strategies help you secure the best price for your chosen property, based on your financial goals and priorities.
• Tailored advice: Every client’s journey is unique. We offer bespoke advice, from navigating estate agents to understanding potential future investments in your home.

Understanding estate agents and how we work differently

It’s important to remember that estate agents represent the sellers of the property. Their job is to secure the highest possible price for the vendor, who employs them on a commission basis. In other words, estate agents are incentivised to get as much money as possible out of the buyer—and they’re very skilled at doing so.

At Barton Hawk, we provide the same level of expertise and dedication but for buyers. Our role is to represent your interests, ensuring you don’t overpay and guiding you through the purchasing process with strategies tailored to your goals. Like estate agents, we work on a commission basis, but we’re only paid upon exchange of contracts. This means we’re fully aligned with your success.

Tailoring negotiation to your love for the property

At Barton Hawk, we understand that not all properties are equal in the eyes of a buyer. That’s why we take the time to gauge how much you love a particular property. If it’s a 10 out of 10—the house of your dreams—our negotiation strategy will reflect that. In such cases, we focus on securing the property for you while ensuring you don’t overpay unnecessarily, perhaps leveraging surveys or other evidence to adjust terms without jeopardising the deal.

On the other hand, if a property is a 5 out of 10 for you, our approach changes. We’ll work to secure the best possible price, knowing that your emotional investment in the property is lower and that value for money is your primary concern. Understanding your personal ranking of a property allows us to tailor our strategy and achieve the best outcome for you.

Positional negotiation: Why being ready to proceed matters

A key part of buying smart is positional negotiation—being ready to proceed when making an offer. If you need to sell your current property before purchasing, it’s absolutely imperative to secure offers on your own home first. Without this, your ability to proceed is limited, and your offer, no matter how generous, will carry less weight with the vendor.

For example, if you offer above the asking price to buy time while trying to sell your own home, you risk arming the estate agent with a high offer that they can use to drive up interest from other buyers. The estate agent might tell prospective buyers, "We already have an offer in excess of the asking price," without disclosing that it’s contingent on your sale. This creates urgency for other buyers and increases competition, making it harder for you to secure the property.

By getting your property sold first, or at least securing offers, you position yourself as a proceedable buyer. Vendors are far more likely to accept an offer from someone who can move quickly, rather than waiting indefinitely for a chain to complete. This approach reduces the likelihood of overpaying in desperation and strengthens your negotiating position.

Buying Smart: The key to gaining equity

One of the best ways to gain equity in a property is to buy smart from the start. Negotiating £10,000 off the asking price is often far easier than adding £10,000 worth of value through renovations and improvements. While improvements can enhance a property’s value, they come with added costs, time, and effort—not to mention moving expenses and potential disruptions. By securing the best possible deal upfront, you’re setting yourself up for financial success from the very beginning.

Timing is everything in negotiation

A key part of successful negotiation is understanding when and how to raise concerns. Let’s consider an example of timing in action:

Imagine you’re viewing a house listed at £500,000. During the viewing, you notice that the roof requires serious maintenance, which would cost approximately £20,000 to repair. If you immediately offer £480,000, citing the roof as the reason, there’s a good chance your offer will be rejected, as it’s perceived as undervaluing the property upfront.

Now, consider a different approach. You offer the full £500,000 and proceed to have a survey conducted. The independent surveyor confirms that the roof repairs will indeed cost £20,000. At this stage, you approach the estate agent and explain:

"We were happy to pay the asking price, but the survey has revealed that the roof requires £20,000 worth of work. We’re still very interested in proceeding with the purchase but would like to revise our offer to £480,000 to reflect this cost."

This approach doesn’t guarantee success, but it’s a far stronger proposition than offering £480,000 initially and being outbid or rejected outright. It demonstrates your willingness to meet the asking price initially while relying on factual evidence from the survey to adjust terms. Timing, in this instance, can make all the difference.

Building confidence through education

Many of our clients tell us they felt overwhelmed before coming to us. Our approach is designed to give you clarity and confidence. We encourage you to view multiple properties and take detailed notes to build your understanding of the market. When you’re ready to make an offer, you’ll feel prepared and assured.

Take the first step

At Barton Hawk, we’re passionate about helping you buy your dream home at the right price. Whether it’s your first home or your forever home, our expertise ensures you’ll make a smart, informed decision.

Ready to start your journey? Contact us today to learn how we can guide you through the property buying process. Together, we’ll make your next move your best move.

About Barton Hawk Barton Hawk Property Buying Consultancy specialises in empowering homebuyers with confidence, clarity, and the tools to secure their dream homes without overpaying. Learn more at www.bartonhawk.com.

Major mortgage lenders have been improving their fixed rates as they continue to compete for business and try to meet their end-of-year sales targets. 

Santander, HSBC, NatWest and a host of smaller lenders have lowered their fixed rates recently, so we are getting closer to seeing a sub-4% mortgage again. We expect more mortgage price reductions over the coming weeks, even though it is unlikely there will be a cut to the Bank of England base rate before Christmas. 

NatWest has launched the most competitively priced five-year fix at 4.07%, and it is available to homebuyers borrowing between £25,000 and £2 million. There is a £1,495 arrangement fee, and applicants will need a 40% deposit to qualify. Santander also has a two-year fix priced just over 4.2% with a £999 fee for borrowers with larger deposits and a clear credit history.

Significant changes have been made to the stress test figures used in the lender's mortgage affordability calculations to work out maximum loan sizes, leading to borrowers accessing more generous loan sizes.

Halifax has also started offering larger loans to borrowers buying homes with high Energy Performance Certificate ratings. 

More mortgages are set to be issued next year

UK Finance, the trade association for the UK banking and financial services sector, has published its housing and mortgage market forecasts for 2025, predicting gross mortgage lending will be up 11% on this year, hitting £260bn. House purchase lending is also expected to rise by 10% to £148bn.

The product transfer market, where homeowners switch rates with their existing lender rather than remortgage to another lender, is set to increase by a whopping 13% to £254bn.

With rate and cost pressures set to ease, the outlook for 2025 is for a gradual improvement in mortgage affordability, feeding into market growth. As interest rates tick down, UK Finance expects arrears to continue to fall, with tailored forbearance helping those who need it.

How much would NatWest's 4.07% fixed mortgage cost?

Representative example: A capital and interest Natwest mortgage of £350,000 payable over 30 years, initially on a fixed rate basis at 4.07% until 30/04/2030 and then on the lender's 7.74% standard variable rate for the remaining 25 years. The 4.07% rate would require 63 monthly repayments of £1,685.11 followed by 297 payments of £2,385.77. The total amount repayable would be £815,760.62 made up of the loan amount, plus interest (£464,734.62) and £995 (product fee), £65 (final repayment charge), £30 (completion fee). The overall cost for comparison is 6.5% APRC representative.

Call Trinity Financial on 0808 1642174 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