LTV, APR, DTI... it's enough to make your head spin. Let us break it down for you. Dig into our content to learn more about house hunting, first-time buyer mortgages, interest rates and so much more.
If you've been saving for your first home or planning a move up the property ladder, you might have seen recent headlines about potential changes to stamp duty. While nothing is set in stone yet, these rumoured reforms could significantly impact how much you pay when buying your next home. Let's break down what's being discussed, what it could mean for your homebuying journey, and how you can prepare for whatever comes next.
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Interest rates have fallen to their lowest levels in nearly 11 months, creating a significant shift in the property market. The average 5-year fixed rate mortgage has dipped below the 5% mark for the first time since May 2023, while the lowest rate offered by our panel of over 100 lenders sits at 3.85%*. This downward trend is more than just a number; it’s a potential turning point for housing affordability and market confidence. For anyone who has been waiting on the sidelines, this could be the opportunity you've been hoping for. Let's get into what this means for first-time buyers, remortgagers, and home movers, and how you can navigate this changing landscape to your advantage.
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You may have the full intention of saving more money. You might even go as far as making a budget or even setting up a standing order. But then payday hits, a few days go by, and somehow your balance is back in the danger zone. If this sounds familiar, the problem might not be your willpower. It could be your money triggers. These are the subconscious cues that cause you to spend, stress, or avoid your finances altogether. Most people have them, but few realise how much they affect day-to-day decisions - especially when you’re trying to save for something big like a deposit.
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We’ve all heard of dating icks, like loud chewing, being rude to a waiter, or texting 100 times a day, but when it comes to money, the red flags aren’t always as obvious. Enter: the financial ick. It’s that moment when someone casually admits to thinking overdrafts are free money. It’s not about how much you earn. It’s about whether you’ve got your financial act together. And if you’re planning to buy a home one day, those habits might not just turn off potential partners. They could also put off potential lenders. So… are you a financial green flag? Or are your money habits quietly holding you back?
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If you've been waiting for the perfect moment to buy your first home, remortgage, or are watching your savings with growing concern, you may think July's inflation figures have thrown a curveball into your plans. UK inflation jumped to 3.8% in July - nearly double the Bank of England's 2% target and the highest since January 2024. Let's break down what these numbers really mean for your money when it comes to mortgage rates and savings.
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When you’re old and wrinkly and looking back on life, you’re unlikely to regret going on holidays or spending a little too much on takeaways. You might however, regret not saving for the future or avoiding complicated money conversations. That’s because when it comes to deathbed regrets, we’re much more likely to regret the things we didn’t do, rather than the things we did, according to Daniel Pink, author of The Power of Regret. Of course, everyone is different and some people have no regrets at all (not even a dodgy tattoo), but here are the money mistakes that could keep you awake at night in future, and how to turn things around.
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If you’ve ever checked your bank balance and wondered where all your money went, you’re not alone. Most of us overspend now and then, but it’s probably not because you’re bad with money, lazy, or addicted to takeaways. In fact, research in behavioural science suggests that overspending has less to do with willpower and more to do with how our brains are wired. Let’s look at what’s really going on.
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You’ve had heated debates about paint colours. You’ve agreed on a sofa. You’ve even planned the housewarming. But have you talked about debt? Or what happens if one of you pays more into the deposit? When you’re buying a home with a partner, it’s easy to get swept up in the fun stuff - but it’s the slightly awkward money chats that will make or break the process. These five conversations might not be romantic, but they’re essential and can save you a lot of stress later on.
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The Bank of England has cut its base interest rate from 4.25% to 4.0%. This widely expected move comes as the UK battles weak economic growth. And experts are predicting another rate cut before the end of the year - even as inflation hit 3.6% in June, nearly twice the Bank of England’s 2% target. What does this mean for you? We’ve covered all you need to know, including how this impacts mortgage affordability and saving rates.
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Are you thinking of renting out a property for the first time? Whether you’re renting a flat to complete strangers or buying an affordable home for your child to live in at university, here’s our guide to getting a mortgage as a first time landlord.
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A Lifetime ISA is a special ISA savings account designed to help first-time homebuyers and retirement savers save up for a first house deposit or retirement faster. But this financial tool has come under some criticism in the last few days following the Treasury Committee's latest report. Here’s what you need to know about the Treasury Committee's recent report, our take on the findings, and how it all impacts you.
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An ISA transfer lets you move money from one ISA to another, without affecting your ISA annual allowance or your savings’ tax-free status. If you’ve already started an ISA transfer, or you’re thinking of moving your funds, here’s how long an ISA transfer should take.
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If you’re buying a house or remortgaging your home, a mortgage broker can help you find the right mortgage with as little stress and paperwork as possible. If you’ve never used a mortgage broker before, you might be wondering what to expect. To help you prepare, here are 10 questions your mortgage broker might ask you.
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A Fixed Rate ISA is a type of savings account where you agree to lock your money away for a set period, in return for a fixed interest rate. You’ll be protected from falling interest rates and all your interest will be tax-free, but you won’t be able to make any withdrawals until the end of your fixed period. In this guide, we’ll cover all the Fixed Rate ISAs currently offered by Yorkshire Building Society. If you’re looking for the best Fixed Rate ISA available across the market, keep in mind that the familiar high-street banks don’t always offer the most competitive rates.
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A Fixed Rate ISA is a type of savings account where you agree to lock your money away for a set period, in return for a fixed interest rate. You’ll be protected from falling interest rates and all your interest will be tax-free, but you won’t be able to make any withdrawals until the end of your fixed period. In this article, we’ll cover all the Fixed Rate ISAs currently offered by Lloyds. If you’re looking for the most competitive Fixed Rate ISA available across the market, keep in mind that the familiar high-street banks don’t always offer the most competitive rates.
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A Fixed Rate ISA lets you earn a guaranteed interest rate on your savings for a set period of time. You won’t be able to access your savings until the end of your fixed term, but your interest rate will be protected from fluctuations during this period. And, since it’s an ISA, all your interest will be tax-free, making it easier and faster to grow your savings. In this guide, we’ll cover all the Fixed Rate ISAs currently offered by Halifax. If you’re looking for the best Fixed Rate ISA available across providers, keep in mind that the familiar high-street banks don’t always offer the most competitive rates.
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A Fixed Rate ISA is a type of savings account where you lock your money away for a set period of time in return for a fixed interest rate. Your interest rate will stay the same until the end of your fixed period, no matter what happens to the Bank of England’s base rate. And, since it’s an ISA, all your interest will be tax-free, making it easier to grow your savings over time. In this guide, we’ll cover all the Fixed Rate ISAs currently offered by Virgin. If you’re looking for the best Fixed Rate ISA available across providers, keep in mind that high-street banks don’t always offer the most competitive rates.
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Investing in the stock market can be one of the easiest ways to build wealth and reduce the impact of inflation, but how much should you invest? Some people recommend investing 10%, 15% or even 20% of your income, but the right figure for you will depend on your income, goals and attitude to risk.
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Labour had warned us that their first budget for 14-years would involve some “difficult decisions” as they look to raise £40bn for the public coffer. And after months of speculation, scare-mongering and uncertainty, on the 30th October Rachel Reeves became the first female Chancellor ever to deliver a Budget. Here's the key changes announced in the Budget that could influence the housing market.
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A Lifetime ISA lets you save up to £4,000 a year towards your first home or retirement and earn a 25% bonus off the government, up to £1,000. This makes it a great saving product for those saving over a number of years, but when it comes to withdrawing your money there are some rules. Let’s delve into when can you withdraw funds from your Lifetime ISA and how long will it take.
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If you’d like to invest in the stock market but you’re not sure what you’re doing, index funds could provide a good starting point. Let’s take a look at how index funds work, how to invest in them and how they differ from other types of investment such as mutual funds and ETFs.
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A Cash ISA is a type of savings account where you can earn tax-free interest on up to £20,000 each tax year. The right account can help you reach your savings goals sooner, but which one should you pick? Let’s take a look at how Yorkshire Building Society’s Cash ISAs work.
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A Cash ISA is a type of savings account that gives you tax-free interest on up to £20,000 each tax year. An ISA can help you to reach your savings goals faster and reduce the impact of inflation. But which provider is right for you? Let’s take a look at HSBC’s current ISA rates and see how it compares to others.
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A Cash ISA is a savings account that lets you save up to £20,000 per tax year without paying tax on your interest. With the right ISA, you could reach your savings goals faster and reduce the impact of inflation. But which ISA provider is right for you? Let’s take a look at NatWest’s current ISA rates and see how they compare to others.
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A Cash ISA is a savings account that gives you tax-free interest on up to £20,000 a year, making it easier to grow your savings and achieve your financial goals. Let’s take a look at Virgin’s current ISA rates and see how they measure up to other Cash ISAs available.
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One in five people expect to be waiting until their 40s to buy their own home, while a third say that saving a deposit is the biggest barrier to ownership, and 44% say mortgage affordability is what’s stopping them from getting on the ladder. So if you’re wondering how on earth you’ll afford a place of your own one day, you’re not alone! If you’re desperate to ditch your landlord or you’ve been living with your parents for longer than you’d like, the good news is there is lots of help out there for first-time buyers. Let’s take a look at some of the best first-time buyer schemes available, and how you could find out which ones you’re eligible for.
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The average UK house price stands at £264,900, meaning first-time buyers will need to save almost £26,500 to put down a 10% deposit on a home. London buyers face an even greater challenge, with the average house price in the capital reaching an eye-watering £535,700. Saving so much money can be hard to do, particularly if you’re renting or buying a home solo. Thankfully, there are a number of first-time buyer schemes designed to help you overcome the most common affordability obstacles and buy a place of your own. So which one is right for you?
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If you’re saving a house deposit, a Lifetime ISA can help you reach your goal sooner. Save up to £4,000 a year and the government will boost your savings by 25% - giving you up to £1,000 a year free towards your first home. But can you use two Lifetime ISAs to buy a house? Let’s take a look at how to make the most of this amazing home-buying hack.
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Almost two-thirds of first-time buyers team up to get on ladder. It’s unsurprising when first-time buyers have to put down an average deposit of over £53,000. Clubbing together with a partner, friends, siblings or other family members to buy together is a way to boost your borrowing power and overcome the house affordability gap - so you can buy sooner. Whether you want to buy a house with a partner, mate or loved one, at Tembo we’ve made it easier for you to save for a house together with the in-built ‘Team Up’ feature in our award-winning savings app.
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Saving for a house is a huge goal to set yourself, and it’s easy to put it off - especially if you want to do other things along the way, like go travelling, move cities or start your own business. So, when it comes to building your first house deposit, here’s why there’s no time like the next 24 hours to start saving for your first home.
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So, you're thinking about transferring your Lifetime ISA to another provider. You probably have a ton of questions - we're here to answer them, including how to transfer your Lifetime ISA, how long it takes, and some of the other most frequently asked questions about transferring LISAs along the way.
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If you’d like to buy a house one day, a Lifetime ISA could make it easier to save a deposit. You can save up to £4,000 a year in your Lifetime ISA and the government will boost your contributions for free by 25%, meaning you could get a £1,000 bonus each tax year if you max out your account. Lifetime ISAs were first introduced in 2017 and since then more than 170,000 first-time buyers have used them to buy their first home. But is a Lifetime ISA worth it today and should you get one?
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So, you're dreaming of owning your first home and seeking an ally to guide you through reaching one of life’s biggest milestones – building a deposit. Well, you've found your companion. Here's how Tembo can help you pave the way to your first home 🏠
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You and your partner are finally ready to buy a home together but there’s just one problem…you’re a first-time home buyer and they already own their home. This might seem like a complicated and awkward scenario, but it happens more often than you think. If you’re buying with a homeowner, here’s what you need to know and how it affects your house purchase as a first time home buyer.
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Are your housemates driving you crazy? Do you lose entire evenings watching home transformation videos on TikTok? Do you dream of having your own space? If this is you, you might have started thinking about owning a home of your own some day in the future. But you might also be wondering how to save for a house in the first place. How long does it take to save for a house? And what’s the best way to save? Look no further because we’ve answered your top questions below.
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Millennials spend too much money and boomers are to blame for the housing crisis. That’s what some people believe, anyway. The boomer vs millennial battle has been raging for a long time, with members of each generation pointing the finger and insisting the others are to blame for society’s biggest issues. But how much truth is there to all this? Are younger generations really worse off than older generations and what’s the solution? Drawing from our First-Time Buyer Report, here are 7 things you didn’t know about the generational wealth gap.
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If you’re thinking of buying your own place, you may be wondering where to start. How much do you need for a deposit? How can you boost your affordability? And how do you get a mortgage? If you’ve been furiously Googling one mortgage question after another, you’ve come to the right place. With the help of our mortgage tips for first time buyers, you can save yourself time, stress and money.
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If you’re a first-time buyer, opening a Lifetime ISA could help you reach your savings goals faster. You can save up to £4,000 a year in it and the government will top it up by 25% — that’s a bonus of up to £1,000 a year. But you can also earn interest or investment growth on top - depending on whether you go for a Cash Lifetime ISA or Stocks and Shares Lifetime ISA. But which provider do you choose to go with? Keep reading to find out the best Lifetime ISA providers in the UK below.
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I bet you thought there wasn’t much to know about saving up for your first house. ‘How much deposit do I need to buy a house?’, is the biggest question by far. But there’s plenty more to it than that. From the relationship between interest rates and deposit sizes to the difference between your mortgage and exchange deposit, we’ve compiled a handy list of eight things you might not know about house deposits.
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