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Life after your Fixed Rate mortgage.

What happens when your mortgage deal expires?

If the end of your fixed rate mortgage is on the horizon (even if it’s months away), then it’s a good idea to start looking at your options today.

If you haven’t got a new deal in place when your fixed rate mortgage ends, your lender will put you onto their standard variable rate, which tends to be higher than the rates on most other mortgage options. So, it pays to get the right mortgage for you in place.

When it comes to remortgaging, some people prefer to search the market themselves. This could be time consuming, and the right deals for you might not be that easy to find. Others leave it to the last minute (or even worse forget about it altogether) which can leave them paying more than they need to.

But did you know there’s another way?

By seeking advice from a mortgage adviser now, you could get the right deal for you sooner.

We can search an extensive panel of lenders for you, finding deals and options that you may not have even considered. And by planning your next remortgage steps today, you’ll cut down on the risk of missing your mortgage expiry date.

No one wants to pay more than they need to, so it helps to plan with the support of an expert.

We can expertly find the right mortgage for you – whatever your circumstances.

It’s a myth that you must wait until your current mortgage plan expires before you can remortgage. In fact, most lenders will allow us to secure a new fixed rate for you months in advance. Plus, you can often change your mind after you’ve secured the mortgage, before you renew.

There are plenty of mortgages out there to consider. A green mortgage may work for you if you have a more energy-efficient home, or a long-term mortgage may help if you’re looking to reduce your monthly payments. We will consider your overall financial situation and needs in depth to help find the right fit for you.

We know new doesn’t always mean better and it may make more sense to stay with your current lender. If your current lender is the right option for you, we will tell you.

What if you’re not in the same boat as before?

Everyone’s circumstances change over time! Don’t worry if you’ve had a credit blip, you’re earning less or your property has dropped in value, because that doesn’t mean you’re automatically stuck for choice. Your options are out there, and with an experienced adviser at your side, you’ll be able to find them.

Protect your future by planning ahead with an adviser from Oyster Financial Solutions LLP.

With thousands of mortgage deals and options on the market, it can be difficult to compare products and feel secure in the knowledge that you’re making the right choice.

But help is at hand – our experienced advisers can protect your time and energy, as well as your mortgage payments! With access to a wide range of lenders and the right search tools at our fingertips, we can find the right deal for you. We’ll also be saving you hours of searching time and mortgage comparison headaches.

Our expert advice will make your mortgage search and application process pain-free, and our inside knowledge will protect you from any nasty surprises. So, are you ready to get ahead of the game? Then speak to us today.

Call our Mortgage team on 01227 375500 or email us on admin@oysterfinancialsolutions.co.uk.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by the Openwork Partnership on 26/04/2023

Why mortgage rates don’t always drop when the base rate does?

The Bank of England’s Monetary Policy Committee (MPC) is the group responsible for setting the bank base rate (BBR). This interest rate influences the cost of borrowing for banks and the rates they offer on loans, mortgages and savings, all with the ultimate aim of helping to control inflation.

When the committee meets roughly every six weeks, all eyes are on its decision. Based on many factors in the UK economy and abroad, the MPC will decide whether to raise, hold or cut the base rate.

You may expect a cut to the base rate to mean an instant cut to mortgage rates - however, this isn’t always the case. The base rate is just one component that influences the mortgage rates offered by a lender.

Swap rates

Another factor is something called swap rates – the rate lenders pay to access money to lend. Think of these like the stock exchange - they fluctuate all the time depending on economic conditions, global factors, market expectations and sentiment. If swap rates increase, then so does the cost for lenders to lend money.

When the economy is stable and inflation is on track, a decision to cut the base rate can cause swap rates to fall and almost instantly bring mortgage rates down. However, if swap rates become unsettled by economic events, future expectations for inflation or challenges abroad, a cut to the base rate may not be enough to calm swap rates, causing the cost for lenders to borrow money to increase.

We have seen this recently following the Chancellor’s Budget. The big policy announcements made by the Chancellor, along with concerns in the Middle East and uncertainty around the implications of the US Presidential race, unsettled swap rates and caused them to rise. Even with the positive news from the MPC to cut the base rate, it wasn’t enough to stop fixed rate mortgages increasing.

What about trackers or SVR?

It’s important to note that this swap rates something that mainly impacts fixed rate mortgages. A cut to the base rate will be felt almost immediately by those who are on a tracker mortgage – a flexible rate that follows the bank base rate – or if you are on a lender’s standard variable rate (SVR) – a changeable rate set by the lender typically after your fixed rate comes to an end.

This is only a minority of borrowers though, as according to UK Finance, 74% of homeowner mortgages are on a fixed rate contract, with 94% of new borrowers choosing this since 2019.

Supply and demand

Alongside swap rates, supply and demand is another factor that can cause mortgage rates not to drop if the base rate is cut. It may seem advantageous for one lender to offer a lower rate than their competition. However, if a rate is too competitive following a rise in swap rates, they may become overrun with new business enquiries and unable to cope with the demand.

In this instance, we may see some lenders decide to follow the herd and reprice their products, bringing them closer in line with their competition.

Separately, it is important to note that lenders have many internal factors that will decide whether they raise or reduce mortgage rates. This can include their own lending targets and future pipeline, competitor pricing and overall service levels, irrespective of swap rates or the bank base rate.

Get advice today

Understanding the factors that can contribute to mortgage pricing can be important in helping you make the right decision. While this can be confusing, with lots of factors contributing to the rates on offer, mortgage and protection advisers can offer plenty of knowledge, support and access to lots of lenders for those looking to navigate the market.

Whether you’re looking to apply for a mortgage, you are soon due to remortgage or you are just looking for some advice, we can help you find the right solution.

To book your appointment, please call Ryan or Joe on 01227 375500 or email at admin@oysterfinancialsolutions.co.uk.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 27/11/2024.

Movers face upcoming changes to stamp duty relief – what you need to know

If you’re looking to move house, there’s an important date to mark in your calendar – Monday, 31^st March 2025. This is the day that the current stamp duty relief will end, and thresholds will change in England and Northern Ireland.

But what does this mean for your house move? How much stamp duty will you have to pay? Keep reading to find out all the important answers.

Remind me, what is stamp duty?

Depending on when you last moved or when you bought your house, you may need reminding what stamp duty is. Stamp Duty Land Tax (SDLT) is the tax you pay when you buy a property or piece of land.

The amount you pay is based on the property’s value, with different bands depending on how much you agree to buy it for. It is also determined by whether it is a second home or additional property, and by its location in the United Kingdom. Costs and bandings can be different in Scotland and Wales as the devolved nations are allowed to set their own rules.

How much is it now?

Thanks to stamp duty relief introduced as part of the mini-budget, buyers in England and Northern Ireland, of homes worth less than £250,000 do not have to pay any stamp duty. This was increased from £125,000.

For any purchase over £250,000, buyers will pay 5% in stamp duty on the amount above this value. This applies right the way up to properties worth £925,000.

On purchases in excess of £925,000, buyers pay 10% in stamp duty up to £1.5 million. Anything above this is charged at the highest rate of stamp duty at 12%.

How is it changing?

After the 31^st March 2025, stamp duty relief will end and thresholds will revert back to where they were prior to the mini-budget. This means stamp duty will now paid be on purchases above £125,000.

A 2% rate of stamp duty will return and will be payable on the next £125,000 – the portion between £125,001 and £250,000.

After this, the bands remain the same with 5% stamp duty on the amount above this value – up to £925,000 – and so on right up to £1.5 million and above.

The result, according to research by Leeds Building Society, means that more than nine-in-ten properties on the market (93%) will now be subject to stamp duty.

What does this mean for movers?

For those climbing the ladder and moving into bigger, more expensive properties, the change is likely to add an additional cost to your move. With the average property in England costing £309,000 in September, the same is likely true for downsizers too.

For example, if a house is purchased for £300,000 before the end of March, the stamp duty bill would be £2,500. After March 31^st though, that figure doubles to £5,000.

Some buyers may decide to bring their plans forward in response to increasing costs. It’s important to remember though that transactions must be completed by the end of the March. With purchases currently taking anywhere between six weeks and six months to complete, those hoping to do so will need to act with real urgency.

Getting the right advice

Staying on top of changes to stamp duty is just one example of how buyers and movers can make informed decisions and manage any costs associated with their move. While it can be difficult to navigate changes to the likes of stamp duty, mortgage and protection advisers are well placed to help you understand what costs are involved and answer any burning questions throughout the process.

To book your appointment with a mortgage adviser, please call Ryan or Joe on 01227 375500 or email admin@oysterfinancialsolutions.co.uk.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 27/11/2024.

What are the pros and cons of 100% mortgages?

A 100% mortgage is, very simply, a home loan which allows the buyer to purchase a property without putting down any money (or a deposit) up front.

Prior to 2008, it was common for lenders to offer deposit-free mortgages as standard, with some even allowing consumers to borrow more than the property’s value for living expenses. But 100% mortgages were a notorious casualty of the 2008 financial crisis, and such products were pulled from the housing market in the aftermath of the crash.

Fast forward to 2023, and a crisis of a different kind. In response to the very real difficulty first-time buyers have faced when purchasing a first home, some lenders began to offer 100% mortgages once more.

So if you want to buy a property that is worth £325,000, you would be able to borrow £325,000.

Any lender offering such a product will expect potential first-time buyers to have good credit history and will look at debt-to-income ratios – how your monthly debt payments compare to your monthly income.

The pros

The most obvious pro is that no house deposit is required. Skipton Building Society foundthat nearly 4 in 10 renters spend 45% of their income on rent or other living costs, which makes saving for a deposit very hard.

100% mortgages also increase homeownership opportunities and give greater flexibility in terms of financial planning. Certain lenders are even offering cashback to borrowers or providing specific products that consider your track record for paying rent.

The cons

According to Money Supermarket, almost all 100% mortgages will have to be guarantor mortgages, meaning that a family member or close friend must commit to using their own savings as security against the loan.

With these loans posing a higher risk to the lender, first-time buyers who take out these products will almost certainly pay higher interest rates. They are also likely to face much stricter lending rules. This can be particularly hard for those who have low credit scores and may not be able meet a lender’s eligibility criteria.

While options exist in the market, they are certainly not as widely available as more traditional mortgages. If you’re looking solely to purchase without a deposit, it can restrict your options.

Perhaps the biggest drawback is the risk of getting into negative equity. If the buyer wishes to eventually sell, and the property’s value decreases, the buyer will owe more on the home than it is worth.

If in doubt, seek advice

As experts in mortgage advice, we can help you navigate the many different products on the market, as well as schemes aimed at first-time buyers, to work out what is actually the right and most affordable option for your individual circumstances.

To book your appointment with a financial adviser, please call Ryan Walters or Joe Walters on 01227 375500 or email us on admin@oysterfinancialsolutions.co.uk.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 13/03/25.

What does an interest rate cut mean for mortgages?

Every six weeks or so, all eyes are on the Bank of England and its Monetary Policy Committee (MPC) – the group that decides whether interest rates will be increased, held or cut. How they choose to act has an impact on how much it costs banks to borrow money and what rates they can offer to savers and borrowers.

With all this in mind, what does an interest rate cut actually mean for mortgage holders and for those weighing up their options as they come to buy or move?

Will my mortgage now be cheaper?

For those borrowers that currently have a tracker mortgage – one where the rate closely follows the bank base rate (BBR) – they will see their monthly borrowing costs reduce almost immediately. This is because you will be paying less interest on your mortgage.

It is a similar scenario for those that are currently on a lender’s standard variable rate (SVR), which is a changeable rate set by the lender that typically comes into effect after a fixed rate period ends. These too are likely to be reduced following a cut, although it is important to note that lenders are not obliged to do so.

These types of mortgages only account for less than 1.5 million of the total outstanding mortgages (or 17%) meaning that for the majority of mortgage holders, they won’t feel the benefit just yet.

What about my fixed rate mortgage?

The main reason is that the majority of mortgages in the UK are taken on a fixed-rate basis. This means that your monthly payments are fixed for set a period – typically, two, five or ten years. Whether interest rates rise or fall, the amount you will pay stays the same.

The only time this will change is when you come to change to a new deal, or do nothing when your fixed rate ends and you to move to your lender’s SVR.

What does it mean for new mortgages?

While a change to the bank base rate doesn’t directly impact mortgage pricing, the overall outlook for interest rates does influence the mortgage rates offered by lenders.

Without getting too technical, this is because many lenders will purchase tranches of money to lend to customers, in addition to lending their own if they have the facility. The amount they pay is set using something called swap rates, which are ever-changing and heavily influenced by economic conditions, market expectations and general sentiment.

If swap rates decrease, then so does the cost for lenders to borrow money, allowing them to pass on savings to their customers and stay competitive. Often, but not always, the indication that interest rates are set to be cut – along with greater certainty around the future path of interest rates – can encourage swap rates to fall and reduce the borrowing costs for lenders and new mortgage holders.

Which option is right for me?

There’s no question that the decision made by the MPC plays a role in the mortgage process, whether it’s changing the amount you pay on a tracker or SVR, or what rate a lender may be able to offer you on a new mortgage.

Whether you’re looking to buy, move or remortgage, it can be useful to know what influences and mortgage pricing to make an informed choice. It’s also valuable to know what different options are available to you and how a change in interest rates – either positively or negatively – can change your monthly outgoings.

Working hand-in-hand with you, we will assess all your options and help you make the right choice for you and your individual circumstances. To book your appointment, please call Ryan or Joe on 01227 375500 or email them at admin@oysterfinancialsolutions.co.uk.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 14/02/2025.

Every year brings new possibilities, and as we approach the start of the 2025/26 tax year, it's the perfect time to maximise your financial options and opportunities. Whether you're an investor or a saver, there are many tax benefits to take advantage of, and our team of experts is on hand to provide you with the information you need to make the best decisions for your finances.

What should my priorities be?

In 2025/2026, you can contribute a maximum of £20,000 across all your ISAs. This allowance applies to Cash ISAs, Stocks and Shares ISAs, Lifetime ISAs, and Innovative Finance ISAs. By investing in these, you won't pay income tax on the returns. Remember, you cannot roll over unused allowances into the next tax year.

Quick wins

There are cash efficiencies available to you if you know where to look. Consider the Lifetime Cash ISA as an example. It’s an excellent way to maximise allowances and bonuses and can be opened by anyone under the age of 40. By contributing up to £4,000 each tax year, the government provides savers with a 25% bonus, worth £1,000 annually.

A Lifetime ISA can only be used for saving towards either your first home (costing up to £450,000) or for retirement. If you withdraw some or all the cash before the age of 60 or don't use it for a first home or retirement, you will incur a 25% penalty on the withdrawal amount, effectively losing the government bonus.

Utilise your pension

Are you a higher-rate or additional-rate taxpayer? If so, you can claim the full amount of pension tax relief, which could be an additional 20% or 25%.

It’s in your hands

Whatever unfolds in the next tax year, remember that your financial decisions are in your hands - and ours. For tailored support in helping you reach your financial goals, please contact a financial advisor.

An ISA is a medium- to long-term investment that aims to increase the value of your invested money for growth, income, or both.

The value of your investments and any income from them can fall as well as rise. You may not get back the amount you invested.

HM Revenue and Customs practices and the laws relating to taxation are complex and subject to individual circumstances and changes that cannot be foreseen.

Approved by The Openwork Partnership on 19/03/2025.

Set for a rate reduction when you remortgage? How best can you use the money you save

For many homeowners who locked into deals during the interest rate peak of 2022 and 2023, the next remortgage may finally bring some relief. If rates have dropped since you fixed, you could find your monthly mortgage payments going down.

That extra money in your pocket can be a welcome change, but the question is: how best can you put it to use? Rather than letting it simply disappear into everyday spending, this could be a genuine chance to strengthen your long-term financial position.

You may be confused now but, with expert advice, you could turn that into clarity.

Five things you could do with the money you save

1. Boost your savings: Even modest monthly contributions can grow into a meaningful financial cushion over time.  Whether it’s an emergency fund or a pot for future plans, saving regularly provides peace of mind. It’s hugely important too. Recent research by the FCA revealed that one in 10 UK adults have no savings at all, while just over 20% had £1,000 as a rainy day fund.
2. Invest through an ISA or LISA: Making use of your tax-free ISA allowance could help your money work harder. Whether it’s a stocks and shares ISA or cash ISA, these tax-efficient savings and investment accounts can help you grow your money more quickly. For those under 40, a Lifetime ISA (LISA) may be especially valuable and can help you save for later life and your retirement.
3. Review your protection: Life changes quickly, and the protection you put in place years ago may no longer reflect your circumstances. If things were particularly tight when you took out your mortgage, you may not have even taken out protection in the first place. The same research by the FCA found that more than half of UK adults (54%) have no protection in place – such as income protection, critical illness cover or life insurance. Using the money saved to review or enhance cover for you and your family can ensure financial security if the unexpected happens.
4. Consider investing in property: If you’ve been thinking about becoming a landlord or expanding your property portfolio, lower mortgage payments could free up funds to start planning that journey.
5. Put a will in place: It’s something many people put off, but making or updating your will is one of the most important steps you can take to protect your family’s future. If you suddenly have more flexibility in your budget, now could be the right time to prioritise it. This is something your mortgage adviser will be able to help with, or at the very least, be able to provide a suitable recommendation for expert advice.

Making your savings count

How you choose to use the money saved will depend on your goals, priorities, and circumstances. That’s why speaking to an adviser can be so valuable as they only simplify the remortgage process, but shape it around your needs and ambitions. They can help you weigh up the options, consider the risks and benefits, and create a plan that works for the present and the future.

A lower mortgage rate is a welcome change, but it can also be the start of something bigger. With the right advice, those savings can be used to build security, opportunity and peace of mind.

Want to make your savings count? Expert advice can be what you need to turn confusion into clarity.

To book your appointment with a mortgage adviser, please get in touch by email admin@oysterfinancialsolutions.co.uk or calling 01227 375500.

YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

An ISA is a medium to long term investment, which aims to increase the value of the money you invest for growth or income or both. The value of your investments and any income from them can fall as well as rise. You may not get back the amount you invested.

Approved by The Openwork Partnership on 16/09/25