Lucy Baldwin

You might have noticed that mortgage rates have been creeping up recently, even though the Bank of England hasn’t changed its base rate. So, why is this happening? The answer lies in something called swap rates — and recent global events, like the conflict in Iran, are having an impact. What Are Swap Rates? Most mortgages in the UK are offered on a fixed interest rate, usually for two, three, or five years. This means the rate you pay stays the same during that period. Lenders fund these...

Buying a home is an exciting milestone, but it also comes with new responsibilities and important financial decisions. One of the most common questions we’re asked at Major Financial Services is: Do you need life insurance when getting a mortgage? The short answer is no, life insurance is not a legal requirement for a mortgage in the UK . However, while it isn’t compulsory, it can play a crucial role in protecting your home, your family, and your financial future. In this guide, we explain...

Buying your first home can feel overwhelming, especially when saving for a deposit seems impossible. Many first-time buyers feel trapped, paying rent with nothing to show for it. At Major Financial Services , we’re here to help you understand your options, because there are ways to get onto the property ladder without a substantial deposit. One of these options is a 100% mortgage , which allows you to borrow the full value of a property without putting down any deposit. Let’s explore what...