Latest News
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Barclays Hikes Mortgage Rates Due to Inflation Woes
Barclays, a major player in the UK banking sector, has adjusted its mortgage rates, creating concern among homeowners and prospective buyers. This move comes directly after the latest inflation data, which was not as favorable as hoped, indicating that the cost of borrowing could remain high for a longer period. In a decision today, Barclays…
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Welsh Housing Market Takes a Dip – Prices and Sales Decline
The Welsh housing market has experienced yet another decline. According to the latest data from the Principality Building Society, house prices in Wales have fallen for the fifth consecutive quarter. As of March 2024, the average house price stands at £229,263, marking a significant 6.5% decrease from the previous year. The downturn in housing prices…
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UK Housing Market Nears Record Highs and Large Properties Surge
April has witnessed a significant increase in the asking prices for homes in the UK, approaching levels close to the highest ever recorded. This trend is predominantly fueled by the demand for larger properties, indicating a robust recovery phase in the housing market. Despite the fluctuations experienced in mortgage rates, the allure of spacious, detached…
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London’s Prime Property Market Hits a Slow Patch – Buyers and Sellers Hold Their Breath
The London property market, specifically in the prime areas, has been experiencing a noticeable slowdown in sales activity. March saw a significant 19.3% drop in property sales compared to the same month last year, signaling a cautious approach from both buyers and sellers. Despite a mild pickup from February, March did not bring the usual…
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Where Are the Best Deals This Week?
As we move through another week, the average mortgage rates remain stable. The typical rate for a two-year fixed deal stands at 5.74%, and for those looking at longer-term security, a five-year deal averages around 5.24%. These figures come courtesy of Uswitch, indicating a steady market surface but underlying volatility. Despite the Bank of England…
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New “Pound for Pound” Remortgage Deals Aim to Ease Landlord Finance Woes
The Buy to Let Foundation, a specialist lending firm, has just rolled out an innovative group of remortgage products designed specifically for buy-to-let landlords. This new “pound for pound” option is tailored for those who wish to remortgage their properties without increasing their borrowing amount. These remortgage products come with a fixed two-year rate, appealing…
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Atom Bank Reduces Mortgage Rates and Introduces New Loan Options
Atom Bank has announced significant cuts to the interest rates of its Near Prime mortgage range. The reductions, which include a drop of up to 0.30 percentage points, span across various products, providing a more affordable path to homeownership for individuals with less-than-perfect credit histories. The bank’s latest adjustments are most noticeable in its two-year…
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Bright Outlook for Bridging Loans in 2024 as Brokers Anticipate Rise in Business
The latest findings from the Castle Trust Bank Pulse survey have painted an optimistic picture for the future of bridging loans in the UK. According to the survey, a significant 68% of brokers anticipate they will handle more bridging loans in 2024 than they did in 2023. This promising data indicates that the demand for…
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Watford’s Local House Prices Fall Against Regional Gains
The latest data from the Land Registry indicates a drop in property prices in Watford, a town where the average home now costs £390,000. This represents a 1.1% decrease from January to February alone, highlighting a continuation of a troubling trend for homeowners in the area. Over the past year, prices have fallen by 5.4%,…
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Scottish House Prices Show Modest Growth and Market Resilience
The latest housing market update from Walker Fraser Steele and Acadata shows Scottish house prices have seen a slight annual increase of 0.4%, reaching an average price of £220,736 as of February. However, this represents a minor monthly decline of 0.2% from January’s average of £221,130, indicating a somewhat volatile start to the year in…