Latest News
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Skyrocketing Rents – How They’re Shifting the UK Housing Market
The UK’s housing market is undergoing a significant shift. Despite a substantial increase in rental prices, a surprising trend is emerging: landlords are gradually being edged out of the market. Since 2020, rents for new lets have surged by 31%, according to Zoopla. This translates to landlords charging tenants an extra £3,360 per year on…
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Silver Lining for Borrowers, UK Economy’s Decline Could Mean Lower Interest Rates
The recent contraction in the UK economy might actually bring some good news for borrowers and the housing market. Despite the overall economic downturn, this situation could lead to the Bank of England slashing interest rates, which spells potential benefits for those with mortgages and aspiring homeowners. Economic Downturn The UK’s economic landscape saw a…
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Landlord Mortgage Woes – Buy-to-Let Arrears Skyrocket in Just a Year
A recent analysis by Octane Capital reveals a startling trend: the number of buy-to-let arrears cases has doubled in just a year. This means more landlords are struggling to keep up with their mortgage payments, a worrying sign in the property market. A Closer Look at the Numbers The research examined quarterly arrears cases, focusing…
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Atom Slashes Mortgage Rates Again
Atom has just announced a significant rate cut on its Prime mortgage range for residential customers. This is not just a one-time thing; it’s the eighth time they’ve done this since August 2023. Atom bank, known for its innovative app-based banking system, has made a bold move by reducing both low and high Loan-to-Value (LTV)…
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Bag a Property Bargain at December Auctions!
As the festive season rolls in, the property market usually quiets down from the second week of December. Most are focused on the holidays, leaving room for keen buyers to snag a bargain. While the open market offers some opportunities, property auctions during this time could be an even more lucrative avenue for those seeking…
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Mortgage Rates in 2024 – What to Expect
The landscape of mortgage rates is always changing, and understanding these shifts is crucial for homeowners and potential buyers. Let’s break down what’s happening with UK mortgage rates and what you can expect in 2024. Recent Trends and Bank Rate Decisions The Bank of England’s Bank Rate, a critical determinant of mortgage costs, has been…
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UK Rental Market Braces for Slowdown as Tenants Can’t Pay More
The UK rental market, which has been exceptionally hot in recent years, is showing signs of a significant cooldown. This shift could bring relief to tenants who have been grappling with steep rent increases, but requires careful planning for landlords The Pace of Rent Increases Slows According to Zoopla’s latest rental report, the growth in…
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Basement Construction Boosts London Home Values
According to a revealing analysis by Foxtons, adding a basement to your London home could skyrocket its value by an astounding 54%. This increase is calculated based on the new living space created, turning previously unused square footage into a lucrative investment. Costs vs. Rewards Let’s break down the numbers. With the average price of…
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Fixed Mortgage Rates Hit Six-Month Low
The mortgage market is changing, and there’s some good news for those looking to buy a home or remortgage. According to the latest data from Moneyfacts UK Mortgage Trends Treasury Report, average fixed mortgage rates across all loan-to-value (LTV) tiers for both two- and five-year fixed-rate deals have been on a downward trend for the…
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Landbay Slashes Rates on Five-Year BTL Mortgages
Good news for landlords! Landbay, known for its expertise in the buy-to-let (BTL) sector, has just announced a significant reduction in its five-year fixed mortgage rates. This change means more savings and better deals for those looking to invest in rental properties. The Details Landbay’s latest move sees a drop of up to six basis…