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Martin Lewis mortgage advice

Learn more about Martin Lewis and how he has helped UK consumers with their mortgage questions and problems

A photo of Grace Lynch, the author

By Grace Lynch

Published on: 30 June 2023

6 min read

Martin Lewis mortgage advice

Martin Lewis is one of the UK’s most highly regarded financial journalists. His website MoneySavingExpert (MSE) posts free guides and money tips to help UK consumers take control of their finances.

MoneySavingExpert covers a variety of topics including insurance, tax and mortgages. If you are looking for information about mortgages, MSE can be a good place to start. There are of course other financial advice websites that provide extensive information about mortgages. It is usually best to speak to a qualified mortgage expert before making any decisions regarding your mortgage.

About Martin Lewis and mortgages

Martin Lewis was born in 1972. He grew up in South Manchester before moving to the village of Norley in Cheshire.

Martin Lewis is passionate about making sure the UK public are well informed about their mortgages. He is often asked to speak about mortgages on high profile platforms such as Channel 4 News and Good Morning Britain (ITV). He also discusses issues affecting mortgages on his own TV show The Martin Lewis Money Show (ITV).

This month (June 2023), Martin Lewis met with Chancellor Jeremy Hunt to discuss ways to better support those struggling with their monthly payments. He spoke about this conversation in the latest episode of his podcast The Martin Lewis Podcast.

He didn’t reveal all details but indicated they spoke about what he refers to as a ‘mortgage ticking time bomb’. With interest rates increasing, hundreds of thousands of people are set to be plunged into far higher mortgage repayments at the end of their fixed rate periods this year. They would then be switched to a variable mortgage. This could lead to much higher costs if the Bank of England Base rate continues rising as predicted.

Martin Lewis has been pushing for banks to provide more support and better communication with consumers about their options.

What are MoneySavingExpert mortgages?

While MoneySavingExpert posts a lot of information about mortgages, they do not provide them. They can offer tips and information but do not sell or advise on any financial services products.

MoneySavingExpert has a wide range of mortgage pages to read through. This includes helpful information about topics such as:

  • Interest rates
  • Stamp duty and other taxes
  • Buying schemes
  • How much you can borrow
  • Remortgaging
  • Tips for first time buyers
  • How credit scores affect mortgages
  • Variable and tracker mortgages
  • And more…

MoneySavingExpert works with various independent mortgage brokers and often collaborate when producing mortgage guides.

MSE have recommended various mortgage brokers including:

Martin Lewis does not sell mortgages or advise on them. He does however provide useful information and guidance that can help both current homeowners and those looking to buy.

Martin Lewis’ website MoneySavingExpert often recommends various mortgage brokers but be aware these links are affiliated in most cases. This means that the website will receive a commission (money) in return for any mortgages sold via these referrals.

Martin Lewis also often provides mortgage information on social media and within interviews on major UK TV networks. There is however no such thing as a ‘Martin Lewis mortgage’. MoneySavingExpert consistently publishes guides and articles relating to mortgages.

Some are written by Martin Lewis, but most are written by other financial journalists. They split these guides into the following categories:

  • Mortgage Essentials
  • Remortgaging
  • First-Time Buyers
  • Homeownership & Renting

With 100s of articles, these categories can make it easier to find the right information. The website also has a search bar which can be used to search for specific key terms.

Learn more – MoneySavingExpert – Mortgages & Homes

Should I fix my mortgage?: Martin Lewis’ advice

A fixed rate mortgage can be a good way to have more financial security. A fixed interest rate means you will pay a set amount to your lender each month, with no sudden increase in costs.

Martin Lewis often discusses his views and opinions on mortgages publicly. He tends to recommend fixed rates as a good solution for those who want certainty in their repayment amounts.

He also recommends that anyone coming to the end of a fixed rate deal should look at switching to another between 3-6 months before the mortgage ends. This allows a good amount of time to research your options and get a suitable new mortgage arranged.

MoneySavingExpert also has a specific mortgage calculator available to help consumers compare fixed rate mortgages to find the best deal. It is important to remember that this calculator can only give a general estimation of costs. You should always double check pricing and mortgage terms with each lender.

MoneySavingExpert – Compare fixed rate mortgages (calculator)

More about fixed rate mortgages:

The UK public strongly associate Martin Lewis with financial services and trust his opinion. This means that common mortgage searches online include his name. This has lead to popular terms such as ‘best 5-year fixed rate mortgage Martin Lewis’ , ‘Martin Lewis mortgage 10-year fix’ or ‘mortgage Martin Lewis’.

Martin Lewis’ website MoneySavingExpert includes a ‘Mortgage Best Buys’ section. This area of the website is dedicated to helping consumers find and research the best mortgage deals currently available.

The tools on this page allow you to compare deals that are available both through brokers and directly from lenders. You can specify whether you are remortgaging, moving home or a first time buyer for the most relevant results.

You will need to enter the mortgage amount needed, your deposit amount and other key details (e.g. desired mortgage term). Then you will be presented with a long list of providers including details such as:

  • Your initial interest rate (and when this rate ends)
  • Your monthly repayment amount
  • The cost of any fees for setting up your mortgage
  • An MSE ‘total cost’ assessment for the first year of your mortgage (aims to include all potential fees)
  • Whether the mortgage is available direct from the lender or through an independent broker only

Compare rates here: MoneySavingExpert – Mortgage Best Buys

Best buy to let mortgage rates Martin Lewis

Martin Lewis has spoken many times over the years about buy to let mortgages and how they work. Buy to let mortgages can be more complex than traditional residential mortgages, with stricter lending criteria.

This can make it harder to know which lenders and deals will work best. There are various resources available on MoneySavingExpert that help those looking for mortgages. There is however not much that is specific to buy to let.

Martin Lewis and interest-only mortgages

Interest only mortgages refer to a mortgage where you repay only the interest element of the loan for the entire mortgage term. The full mortgage amount is then repaid at the end of the mortgage term.

MoneySavingExpert has published various articles about interest only mortgages by Martin Lewis and other financial journalists. Recent articles suggest switching to an interest only mortgage can be a good idea for those struggling with the high cost of repayment mortgages.

Martin Lewis advice on mortgages

Many people in the UK highly regard any information provided about mortgage deals from Martin Lewis. He is seen as a financial services expert and so his knowledge and tips are generally thought of as trustworthy.

He does not advise on mortgages and instead provides information and comprehensive guides that allow consumers to come to their own decisions.

Recently, Martin Lewis has focused on helping homeowners coming towards the end of fixed rate mortgage deals. The mortgage market has seen periods of instability recently with the Bank of England steadily increasing interest rates and lenders following suit.

Alternative to Martin Lewis mortgages

While you can find out about mortgages through Martin Lewis and his team, there are several mortgage brokers mentioned on Money Saving Expert. They are not directly recommended and are simply stated to be some of the UK’s top brokers.

The website states facts about these brokers as well as clarifying that it is fine to speak to several brokers before deciding which is right for you. You can choose to use one of these brokers or you can speak to an independent mortgage broker.

You may choose not to use a mortgage broker and instead apply directly to lenders. This is a valid approach if looking to avoid broker fees. You will however lose out on additional support with your application. The lender will also only be able to advise you on their own products meaning you won’t get an unbiased perspective across the whole market.

More about mortgages

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