A huge thank you to everyone who sent their best wishes for our 6th anniversary last month! Here at Stratton Thorpe Mortgage Solutions, we’ve arranged over 2,600 mortgages totalling more than £550 million — but more importantly, we've helped turn countless dreams into reality. From our very first client to our most recent, every step of this journey has been built on care, commitment, and trust. Your support means the world to us. Here's to many more years of helping people find their way home. THANK YOU!
TEAM NEWS
‼️ COMING SOON: We will be announcing our 2025 Christmas Competition in the next few weeks. One lucky winner will receive a £150 voucher for a supermarket of their choice.
Imagine sitting down to Christmas dinner on us! Keep following our socials so you don’t miss out!
Protection NEWS
Refinancing your mortgage soon? This is the perfect time to explore protection insurance too - for your income, home, family and peace of mind. Find out what protection cover is right for you now and for your future. Contact us today.
Unsure about which protection cover is right for you? Here is a great video that explains all about the different types of policies, including income protection, life insurance and critical illness cover. 🎥 WATCH NOW
MORTGAGE NEWS
9 bank statement red flags that could jeopardise your mortgage
Applying for a mortgage? Your bank statements are under the microscope. Lenders look beyond your credit score — and some surprising habits could raise red flags:
🚩 Irregular income
🚩 Gambling transactions
🚩 Inappropriate payment references
🚩 Large cash withdrawals or unexplained deposits
🚩 Undisclosed subscriptions or debts
🚩 Payday loans & BNPL reliance
🚩 Frequent overdraft use
🚩 Big spending before applying
Think of your bank statement as your financial CV. Keep it clean, consistent, and transparent to boost your chances of approval.
SOURCE: What Mortgage
Covid mortgages: What to do if your five-year deal is ending
Around 469,000 people who locked into five-year fixed-rate mortgages during the height of the COVID-19 pandemic will see their deals come to an end this year. For many, this will be the first time they’ve had to remortgage since the extraordinary days of 2020 when interest rates were at record lows, the government had launched a Stamp Duty holiday, and borrowing soared.
So, what does the end of these ‘Covid mortgages’ mean for you, and how can you prepare? Back in 2020, the average five-year fixed rate sat between 2.25% and 2.74%. With uncertainty all around, it felt like a safe bet to lock in, which is exactly what half a million households chose to do.
Fast-forward to today, and the landscape looks very different. The average five-year deal now sits around 4.55%, with two-year fixed deals sitting very close at around 4.52%. While rates are still higher than in 2020, they are beginning to ease back from the peaks we saw in 2023 and 2024, offering some relief for many.
What to do if your Covid mortgage is ending
1.Don’t delay
If your fixed rate runs out in 2025, act now. The worst step you can take is to do nothing and yourself on your lender’s standard variable rate (SVR), which is usually much higher than securing another deal. The key is to act early. Most lenders allow you to begin the remortgage process up to six months before your current deal ends, so it’s worth starting the search well in advance to secure the best terms and avoid a last-minute rush.
2.Check your credit report
It’s also wise to check your credit report before applying, as any errors or unnecessary applications can harm your score and limit the deals available. At the same time, review your household budget and be realistic about what you can afford. For many, monthly payments will rise sharply compared to their Covid-era deal.
3.Look beyond the interest rate
When weighing up options, look beyond the headline interest rate. Think carefully about whether a two-year or five-year fix is more suitable for your circumstances, and factor in the impact of arrangement fees, early repayment charges, and the overall cost of borrowing across the term. Taking a rounded view will help you avoid being caught out by hidden costs and ensure the product you choose genuinely suits your needs.
SOURCE: What Mortgage
The average first-time buyer mortgage with a 5% deposit is typically up to 17% cheaper than renting, with an annual saving of £2,700 per year, a report has said.
Research by Lloyds, which compared average monthly rental costs with typical first-time buyer mortgage payments across 11 cities, found that in nine cities, owning a home works out cheaper than renting on a monthly basis.
The report found that the average first-time buyer house price in Great Britain was £228,233, so assuming a 5% deposit and an average mortgage rate of 4.78% for five years with a 30-year term, the monthly mortgage cost would be £1,135.
This compares to a monthly rent cost of £1,360, meaning getting on the property ladder could save £225 per month or £2,700 per year.
In Glasgow, mortgage payments were around 32% cheaper than rent, with first-time buyers saving around £396 per month or £4,752 per year.
Newcastle came second, with the difference between mortgage versus rent estimated at 19.5%, equal to a monthly saving of around £217 and an annual saving of £2,604.
Lloyds said that not only would getting on the property ladder be cheaper than renting, it also “offers more security and helps build financial stability”. The bank said that over five years, a buyer with a 5% deposit could cut the loan-to-value (LTV) ratio from 95% to 87%, even if house prices remain flat. It said this meant prospective first-time buyers could build more equity in the home, minimise the risk of negative equity and get better access to future mortgage deals.
Taking into account cheaper mortgage payments compared to renting, as well as building equity, a first-time buyer could be £32,000 better off after five years, or £20,500 when taking into account the deposit.
SOURCE: Mortgage Solutions
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