Prospect Mortgage Brokers

07/04/2026

Mortgage rates are rising again, and you may be asking why, especially when the Bank of England held the base rate at 3.75% in March.

The key driver isn’t just what’s happening in the UK, but the uncertainty in the Middle East and the wider impact that’s having on global markets.

The ongoing conflict between the United States and Iran has created significant economic uncertainty. We’ve seen stock markets fall, with oil and petrol prices rising sharply due to concerns over supply. When energy prices increase, it often leads to higher costs across the board, adding to inflationary pressure.

Although the base rate remains unchanged for now, lenders price mortgages based on a range of factors. There’s also an element of caution from lenders.
In times of uncertainty, the cost of borrowing money can increase, and lenders may adjust their pricing to manage risk. This
combination of higher funding costs and market volatility is contributing to the recent changes in mortgage rates.

So, what does this mean for you? If you already have a mortgage, particularly a fixed-rate deal, there’s nothing to worry about immediately, your payments will stay the same for the duration
of your deal.

However, if you’re on a variable rate, approaching the end of your fixed term, or considering a new purchase, it’s important to be aware that rates are moving.

With inflation risks still present and markets reacting quickly to global events, there is a case for reviewing your options sooner rather than later.

Many lenders allow you to secure a new rate around three to six months before your current deal ends. Securing a rate now could protect you against further increases and provide some peace of mind.

If you’d like to talk through your situation or explore your options please get in touch. We are here to help!

08/01/2026

Mortgage Market: Preparing for 2026

As we look ahead to what 2026 may bring, the mortgage market is shaping up to be more stable and positive than in recent years. After a period of uncertainty, the past year has broadly performed in line with expectations, and the outlook for homeowners is cautiously optimistic.

House prices are forecast to see growth, with estimates suggesting an increase of up to 4% across the UK in 2026. While this means property values may continue to rise, the good news is that buying or moving home could become slightly less challenging. Improving affordability, combined with changes in the lending environment, may help ease some of the pressures.

One of the key drivers behind this shift is the direction of interest rates. At the end of 2025 inflation fell to 3.2%, a larger drop than many anticipated. This reinforced the view that inflation may have passed its peak. As a result, there is growing confidence that further interest rate cuts could follow throughout 2026.

So, what does this mean for your mortgage? If you’re on a variable or tracker rate, changes in interest rates could directly affect your monthly payments. If you’re on a fixed rate ending in 2026, or beyond, it’s worth planning ahead. Market conditions can change quickly, and reviewing your options early could help you secure a deal that suits your circumstances.

Even if you’re not planning to move or remortgage immediately, 2026 could be a good time to review your mortgage and overall financial position. Small changes in rates, terms, or lender criteria can make a meaningful difference over time.

Every homeowner’s situation is different. Get in touch today and understand how the evolving market may affect you and what steps you can take to stay ahead. Preparing early could put you in a stronger position.

If you’d like to discuss the options available to you, please do get in touch.

13/08/2025

The team were shocked reading this today!

So, what does this mean? Our mothers, and grandmothers, were unable to buy property on their own. Therefore it makes sense that only 33% of home owners in the UK are women.

The good news - Woman are increasingly buying property 🏠 We are here to help.

Contact us today on ☎️07968108519

30/06/2025

𝐀𝐫𝐞 𝐲𝐨𝐮 𝐚 𝐥𝐚𝐧𝐝𝐥𝐨𝐫𝐝 𝐰𝐢𝐭𝐡 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝐨𝐧𝐞 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲?

If so then you’ve probably noticed the landscape has changed with stricter regulations, tighter margins, and rising tax. This has made things harder for casual landlords to turn a solid profit, so more and more landlords are now choosing to own their properties through a limited company.

One of the biggest drivers is tax efficiency. Rental income held in a limited company is taxed at the corporation tax rate (currently 25%), rather than personal income tax rates, which can be as high as 45%.

It also gives you more control over how your property business is run, keeping your business finances separate from your personal ones. There’s some added admin and setup costs, but for many landlords, the long-term financial benefits make it worthwhile.

If you’re thinking about the next step for your portfolio, or your current mortgage deal is coming up for renewal, now is the time to find competitive deals, speak with a trusted tax specialist and gain tailored advice.

Please do get in touch for any mortgage related queries, we are experienced in dealing with Portfolio landlords, both privately owned, and via limited companies.

📧[email protected]
☎️07379790770

09/05/2025

We had a wonderful time at the Mortgage Intelligence UK conference yesterday in Farnborough.
Great to network & catch up with old friends and colleagues. 🙌🏻 We also won a coffee machine thanks to Atom bank ! ☕️ A fantastic evening followed, with comedy from Simon Brodkin, great food and a band! We will be returning to office Monday.

11/02/2025

Molly enjoyed the PMB Quarterly Meeting today! Do your pets come to work with you? 🐶

06/02/2025

🌟 £5,000 Deposit Mortgage for First-Time Buyers 🌟

Are you a first-time buyer dreaming of owning your own home but struggling to save for a hefty deposit? 🏡

We’ve got great news for you! Accord has launched a brand-new £5,000 deposit mortgage, exclusively for first-time buyers!

✅ £5,000 minimum deposit
✅ Up to 99% Loan to Value
✅ Minimum loan of £95,001
✅ Maximum term of 40 years

Accord is committed to helping first-time buyers who find it difficult to save for a traditional deposit. Plus, they’ve just lowered the interest rate on this product!

💡 Ready to take the next step toward your dream home?
Get in touch with us to see if you qualify for this amazing offer!

📞 Call: 07968108519
💻 Email: [email protected]

04/11/2024

𝐍𝐞𝐰 𝐒𝐭𝐚𝐦𝐩 𝐃𝐮𝐭𝐲 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭
As of 31st October 2024, Stamp Duty Land Tax on second homes has risen from 3% to 5% above standard residential rates.

This will impact anyone buying a second home or additional property, including those who haven’t sold their old primary residence yet. However, Those who have signed contracts before October 31st, 2024, can still benefit from the old rate if certain rules are met.

𝐒𝐢𝐠𝐧𝐞𝐝 𝐚 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟑𝟏, 𝟐𝟎𝟐𝟒?
If you signed a contract before this date but the sale completes after, you may still be eligible for the 3% surcharge rate if:
• No major changes are made to the contract after October 30th, 2024.
• There are no added clauses or rights assigned to someone else.

For more information on Stamp Duty, visit the GOV.UK page - https://www.gov.uk/stamp-duty-land-tax

Please contact us on ☎️07968108519 should you have any queries, we're here to help!

27/03/2024

This is great news for first-time buyers, this really should help them get onto the mortgage market.
There is a few small print details, such as you can't use this mortgage to buy a flat, or a new build property.
The maximum purchase price is £500,000 which locally in Suffolk will be fine, but our London clients may find these conditions prevent them from using the mortgage for a purchase.
Clients will need to have an A1 perfect credit score.

If you would like to have a discussion, or look at the details of the mortgage please do get in touch. Or if you're not sure your credit score is going to be sufficient, we might be able to help you look ways to improve your score over the next six months.
☎️07968108519
💻 [email protected]

Although the Government ditched the 99 per cent mortgage, a lender has introduced one to the market

31/12/2023

Wishing all of our clients a very happy, and healthy new year! 🎉🎆🎊

25/10/2023

So nice to receive these from clients today 😍🍰 home made lemon drizzle and brownies!

24/10/2023

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐢𝐧𝐠 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐛𝐲 𝐉𝐚𝐦𝐢𝐞 𝐏𝐚𝐠𝐞 𝐚𝐭 𝐓𝐡𝐞 𝐄𝐱𝐞𝐭𝐞𝐫 - 𝐇𝐞𝐚𝐝 𝐨𝐟 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧

"We surveyed 2,000 working adults in the UK on their health and financial fears over the last 12 months and it’s clear that there’s still work we need to do.

Worries of UK workers -
When asked what they were worried about, the top concerns were a continued rise in cost of living (75%), being able to pay utility or food bills (58%), paying mortgage or rent (52%), and losing income due to personal illness (47%).

You and I know that income protection is a valuable product that could ease some of these worries if someone suddenly became unable to work due to injury or illness. But only 13% of those we surveyed currently have, or are applying for, an income protection policy.

Affordability and value -
Of course, affordability is front of mind for everyone with 87% of those surveyed changing their spending habits in some way during the last 12 months. 7% of respondents said they’ve cancelled an insurance policy and the top reason for cancelling was cost, with 26% stating affordability as the reason.

Consumers tend to overestimate the cost of these policies. The average estimated cost of an income protection policy from our research was £35.20, when the actual average cost was £24 for a two-year limited term benefit (the most popular cover purchased in 2022)1. But, while people overestimate the cost of protection, they also overestimate the level of state support available to them.

One of the most common objections you hear is that people will get enough support from the Government and Statutory Sick Pay. 32% of UK workers we surveyed believed they would receive more than £126 per week and 18% said they didn’t know what they would be entitled to at all. Currently, Statutory Sick Pay is only £109.40 per week for up to 28 weeks2 - under £450 a month - likely not enough to pay mortgage or rent, let alone all the other bills that come in each month.

Awareness of protection -
It’s not just about affordability, though. Nearly half (43%) of UK workers surveyed that had cancelled a policy had done so because they hadn’t made a claim on the policy (24%), didn’t see any value in the policy (14%), or didn’t know what it was for (5%), showing a lack of understanding about what they had and why they need it.

And yet, our findings suggest consumers do have some awareness of income protection, only 6% didn’t think it was important. The top answers were spot on, with 19% feeling it’s important to consider purchasing when starting their first job, and 17% when buying a property or getting a mortgage. However, awareness itself only goes so far. It’s the mix of awareness plus fully understanding what income protection does and why it’s important that’s vital, and trust is also key.

Building trust -
When we asked how confident people are that protection providers will pay a claim for income protection, life cover or health insurance over a third (34%) said they aren’t confident claims will be paid – up from 23% last year. Providers and advisers need to work together to build awareness and trust so consumers fully understand the need, what they’re getting with their cover and how they can get support from their provider when it’s needed."

Call us today to speak about your protection needs!
07968108519