Latest News
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2024 House Prices Set for a Slight Dip
Estate agency, Savills, suggests that while UK house prices are predicted to fall by an average of 3% in 2024, there’s a silver lining for prospective homebuyers. As we edged closer to Christmas, it became evident to housing market analysts that mortgage affordability was taking a toll on house prices. Savills now forecasts this trend…
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Cuts in Fixed Mortgage Rates by Vida
Specialist lending firm Vida has just announced substantial rate reductions across its range of fixed-rate mortgage products. Vida has made a cut in its residential mortgage rates, reducing them by up to 1.05%. The revised rates include: All these rates are based on a 75% loan-to-value (LTV) ratio, making them more accessible for a broader…
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£1.6M Bridging Loan Boosts Prime Asset Value
Arc & Co. and Glenhawk have successfully secured a £1.6 million second charge bridging loan for a property developer. This significant deal centers around a highly valued single asset located in the affluent area of Wentworth. What is a Second Charge Bridging Loan? A bridging loan is a short-term loan used by property developers to…
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Lewisham’s Property Market Takes a Dip
Recent figures from the Land Registry indicate a substantial decline in Lewisham house prices. In November 2023, the average house price was recorded at £458,033, a small drop from October’s £469,141. This change represents a 2.4% decrease in just one month. Furthermore, when compared to the previous year, there’s been a -0.7% fall in prices.…
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Mortgage Battle Continues – Barclays Announces Major Rate Cuts
Barclays has announced a significant reduction in the cost of various fixed-rate mortgage products. This change, set to take effect from today, 23rd January, will benefit both new and existing residential and buy-to-let borrowers. Barclays’ decision comes on the heels of similar rate cuts by most of the UK’s major mortgage lenders since the beginning…
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England’s Property Market Sprang Back in Late 2023
As 2023 drew to a close, the property market in England witnessed a remarkable upswing. In the final quarter of the year, the number of homes listed online and marked as ‘sold subject to contract’ (SSTC) leaped by 7%. That’s a staggering 277,115 homes changing hands, or in simpler terms, about 18,000 more eager homeowners…
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Molo’s Reduced Buy-to-Let Mortgage Rates
Molo Finance has made a sweeping reduction in their buy-to-let fixed rate mortgage products, slashing rates by up to 71 basis points (bps). The company now offers starting rates as low as 3.94% for a two-year fixed mortgage, available to both individuals and limited companies borrowing up to 75% of the property’s value (known as…
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Virgin Money Cutting Interest Rates
Virgin Money’s residential range is getting the biggest cuts in five-year fixed rates. What does this mean for you? Well, if you’re considering a long-term fixed mortgage, rates now start at a more attractive 4.19%, though this comes with a £995 fee. If you prefer to avoid fees, you can still enjoy a reduced rate,…
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LendInvest’s New Bridging Loans
LendInvest Mortgages has just unveiled a pair of innovative loan products. Their new offerings, dubbed the “House Flip Bridge” and “Landlord Refurb Bridge”, are tailored for borrowers eager to swiftly purchase and transform properties. What sets these products apart is their generous 85% loan-to-value ratio, a boon for those looking to maximise their investment potential…
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Inflation Easing, UK Economy and House Prices Set for a Boost
Good news is on the horizon for the UK economy and the housing market, as the battle against inflation starts showing positive results. According to the EY Item Club, a leading economic forecaster, this victory over inflation is poised to spur economic growth and stabilise house prices in 2024, bringing relief to families across the…