Applying for a mortgage can be stressful. You might worry a lender will reject your application and the effect it could have on your plans. A better understanding of what lenders are considering when making a decision may be useful and could reduce anxiety. Even if you’ve been through the mortgage process before, rising interest rates could mean you feel more nervous about your application. Some homeowners are finding that, despite being up to date with their mortgage payment

Over the last year, interest rates have increased from historic lows. Fixed-rate mortgage payers that have been shielded from the rises so far could find their outgoings rise if their deal ends in 2023. The Bank of England increased its base interest rate several times over the last 12 months to tackle high levels of inflation. For savers, it’s been good news, as interest rates on savings accounts have started to rise after more than a decade of being low. However, for borrow

Inflation in 2021 is expected to hit 4%. Inflation means the cost of living will rise and, for mortgage holders, knock-on effects could mean the cost of a mortgage becomes higher. From grocery shopping to electronic goods, prices are rising. The Bank of England now expects UK inflation to rise above 4% by the end of the year, double its 2% target. There are numerous reasons for inflation rising, including shortages caused by temporary factory closures due to the pandemic. Fam