Latest News
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Big Break for Borrowers – Interest Rates Set for a Tumble in 2024
In a welcome turn of events for those struggling with loan repayments, particularly mortgages, there’s a significant shift on the horizon. Based on the latest bets from the financial markets, we’re looking at a series of interest rate cuts from the Bank of England throughout 2024. This news comes as a relief to millions who…
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UK’s First-Time Homebuyers at a Decade Low
Recent data from Yorkshire Building Society reveals a concerning trend in the UK housing market: the number of first-time buyers with mortgages in 2023 dropped to its lowest point in ten years. This decline highlights growing challenges in affordability, influenced by rising mortgage rates and persistently high house prices. The Stark Numbers In 2023, approximately…
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Mortgage Rates Dip Below 4% for First Time in Months!
Gen H has launched an eye-catching deal: a five-year fixed rate mortgage at a mere 3.94%. This rate hasn’t been seen since May and marks a significant drop. The catch? You’ll need at least a 40% deposit to jump on this deal. This standout mortgage comes with a £999 product fee and is not just…
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Big Savings in January? Mortgage Rates Set to Drop as Inflation Falls
The UK’s inflation rate has fallen to its lowest in two years, now sitting at just 3.9% as of November. This is a significant drop from the 4.6% rate we saw in October, according to data from the Office for National Statistics. Why is this important? Well, it signals a potential decrease in the Bank…
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Mortgage Market – HMOs and First-Time Buyers on the Rise
An increasing number of brokers are looking into HMO (Houses in Multiple Occupation) mortgage products. This shift indicates that many landlords are now focusing on HMOs, eyeing them as a lucrative investment choice for better returns. What the Numbers Say Recent research from Legal & General Ignite reveals that searches for HMO mortgage products soared…
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Barclays Cuts Mortgage Rates
Barclays has announced reductions in its mortgage rates. This change is effective from December 20th. Here’s a breakdown of what’s happening and how it could affect you. Key Rate Reductions For Existing Homeowners Focus on Buy-to-Let Borrowers Barclays hasn’t forgotten about buy-to-let borrowers: What Does This Mean for You? This move by Barclays could be…
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UK Inflation Rate Takes a Dip – Good News for Mortgages?
The UK’s inflation rate, a critical indicator of how prices are moving in the economy, has brought some relief this November. The rate, which measures how much prices have risen over the past year, fell to 3.9%, down from 4.6% in the previous month. This decrease is a positive sign, especially for households struggling with…
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UK Rent Skyrockets – Latest Figures from ONS
The UK’s rental market is experiencing a significant surge, with private rental prices skyrocketing across the nation, according to the latest data released by the Office for National Statistics (ONS). Rental Prices on the Rise Private rental prices paid by tenants in the UK have seen a substantial increase of 6.2% in the 12 months…
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UK House Prices – Latest Trends From ONS
In the most recent data up to October 2023, the UK housing market has shown a decrease in average house prices. This downturn is not just a one-off event but part of an ongoing trend, as evidenced by the 1.2% decrease over the past year. This decline is more pronounced compared to the 0.6% fall…
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UK Mortgage Market – What to Expect in 2024 and Beyond
The UK’s mortgage market is set for significant changes in the coming years, according to UK Finance’s latest report. 2023 has been marked by rising interest rates and increasing household expenses, which have significantly constrained access to mortgage credit. These economic pressures have not only dampened external remortgaging activities but also led to a noticeable…