Welcome to the June edition of Spread the Word! As we step into the warmer months, we’re excited to share valuable insights, updates, and expert advice to help you navigate the mortgage and protection landscape. Whether you’re a first-time buyer, looking to remortgage, or seeking guidance on protection options, our team is here to support you every step of the way. Dive in to discover the latest news and advice from our trusted advisers…
TEAM NEWS
June’s team spot light is on Sangeetha Madaksira who is part of the Stratton Thorpe team.
Where are you based, and why do you love it? I live in Northampton with my husband, Ravi. We moved here in 2020 after spending 11 years in St Albans. Ravi runs a business making bespoke dining table sets, which often takes us around the UK to meet clients. Northampton is the perfect central location to travel north, south, east or west!
Your favourite local restaurant is… Pamukkale it’s a lovely Turkish spot that we often visit!
Your most frequently asked question: What happens to my mortgage if I move house? Many mortgages are portable, meaning you can transfer your existing deal (interest rate, terms) to a new property. You’ll need your lender’s approval, and you might still need to reapply and go through affordability checks, but I can help with all that!
What’s your top advice for 2025? If you’re one of the 1.8 million people estimated to need to remortgage this year, don’t leave it until the last minute. Lenders’ standard variable rates are mostly a lot higher than many fixed-rate or tracker deals, and there are some great products on offer. The sooner you start looking, the more choices you may have to consider.
MORTGAGE NEWS
Professional Mortgages for Teachers
Whether you're a newly qualified teacher or a seasoned educator, you may be able to benefit from financial products designed with specific careers in mind, including teaching. These mortgages often come with enhanced terms, reflecting your stable career paths and income potential. For example;
Smaller deposits - sometimes a 5% deposit to help you get into your own home faster.
First year contracts can be treated as permanent positions. Some lenders don’t require any previous employment history and don't need to wait until you have 3 payslips.
Welcome joint applications from teachers wishing to purchase with a non-teacher partner.
We specialise in helping professionals navigate the mortgage market to find the right products to meet your needs. Book a free, no-obligation initial consultation. We’re happy to arrange appointments in the evening or weekends to fit around your work.
Mortgage rates fall in May: Two-year deals lowest since 2022
The typical interest rate on a two-year fixed mortgage has fallen to its lowest point since the infamous mini-budget in 2022.
This is according to the latest data from Moneyfacts which also shows average two-year fixed rates have fallen in the last month by their biggest margin in over six months.
The data comes just days after the Bank of England cut interest rates by 0.25% to 4.25% and as mortgage lenders have begun cutting prices with some of the best deals for borrowers with high equity offering rates below 4%.
Moneyfacts revealed the typical two-year fixed rate mortgage is currently 5.18% having fallen by 0.14% in the past month. This time last year a borrower taking out a two-year fix would be paying 5.91% on average.
Homeowners taking out mortgages on a five-year fixed rate will also be getting significantly lower rates than they were last year. Moneyfacts said the average five-year fix was 5.10% in May compared to 5.18% in April. Back in May 2024 it was 5.48%.
SOURCE: What Mortgage
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Protection News
How Important is Income Protection
How would you pay your bills if you couldn't work due to an illness or injury? Income protection insurance provides you with regular payments if you are unable to work, covering both physical and mental health issues.
You can choose when your payments start, and they will continue until you can return to work or until the agreed period ends. This insurance is available for employees, self-employed individuals, freelancers, business owners, and homemakers, supporting unpaid tasks.
Some policies also offer additional support like physiotherapy and counseling. Many people are off work for two months or longer due to illness or injury, making income protection a crucial option.
Is Income Protection Right for You? Consider income protection if:
You lack sick pay or sufficient savings.
Your sick pay is limited and may run out.
You prefer not to rely on state benefits.
You have bills like a mortgage or rent.
You are a homemaker wanting coverage for unpaid duties.
Income protection is vital for your financial security. Book a consultation with our experienced protection advisers to explore your options.
We work with several providers offering income protection products. If you want to understand how income protection works, this video from one of our insurers explains it well.
On clicking the above What Mortgage and Zurich links you will leave the regulated site of Stratton Thorpe Mortgage Solutions Ltd. Neither Stratton Thorpe Mortgage Solutions Ltd, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked sites.
