Latest News
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UK Mortgage Market Set to Face Further Decline in 2024
The UK mortgage market is bracing for another challenging year in 2024, following a tough period in 2023, according to the latest forecasts from UK Finance. 2023 witnessed heightened financial pressures for mortgage borrowers due to increased interest rates and overall living expenses. This scenario led to a significant decrease in mortgage affordability and accessibility:…
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Is Now the Right Time to Buy UK Property? Experts Weigh In
The UK property market has been incredibly volatile for both renters and those looking to buy a home. In 2022 and 2023, we saw rents skyrocket due to an imbalance between supply and demand, sparking intense competition for rental properties. Earlier this year, mortgage rates in the UK reached their highest levels in 15 years,…
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Mortgage Rates Could Dip Below 4% Soon
Mortgage rates are set to fall below 4% as early as next week. This change is linked to the decrease in swap rates, a key indicator of mortgage rates. Swap rates dropped to 3.99% this Tuesday and went even lower to 3.94% by Thursday. For the first time since mid-June, the average rate for two-year…
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HMRC Targets Tax Shortfalls in Buy-to-Let Companies
HM Revenue and Customs (HMRC), the UK’s tax authority, is cracking down on buy-to-let landlords. These landlords, who have turned to company structures to mitigate increasing tax burdens, are now in the spotlight for potential underpayment of capital gains tax. A Nudge from HMRC HMRC has begun sending advisory letters to landlords who have incorporated…
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Santander Cuts Mortgage Rates, Offering Relief to Homeowners
Key points – Santander has announced a substantial reduction in mortgage interest rates. This change is a welcome development for those grappling with the challenges of owning and purchasing property in the current economic landscape. Santander’s decision marks a notable shift in its mortgage strategy, focusing on providing some relief to both existing and potential…
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UK’s Top 10 Cities for House Price Growth – Where to Invest Now
Key points – London, traditionally a magnet for property investors, has seen a decrease in appeal due to its high prices. This has shifted the focus to other major cities in the UK, which are now being recognised for their potential in property investment. The Office for Budget Responsibility (OBR) recently predicted a 4.7% fall…
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London’s Prime Housing Market Bounces Back
Key points – Prime central London’s housing market, an area that has faced its share of struggles, is now witnessing a significant upswing. This resurgence is a breath of fresh air following the turmoil caused by the 2022 mini-Budget, which had far-reaching impacts across the UK’s housing sector. A Surge in Buyer Interest and Offers…
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Mortgage Rates Dip Below 6%, Relief for UK Homeowners
Key points – The average two-year fixed-rate mortgage has just fallen below 6% for the first time in nearly six months. This marks a significant change in the mortgage landscape, offering potential savings for millions. The average two-year fixed-rate mortgage has decreased to 5.99%, a slight drop from 6.01% just last Thursday, as reported by…
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Berkeley Group Forecasts Dip in Home Sales
Key points – In recent news, the Berkeley Group, a major housebuilder, has issued a cautionary statement regarding the future of home sales. With various economic factors at play, the firm predicts a challenging period ahead. A key factor affecting the housing market is the rise in interest rates. The Bank of England had implemented…
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Leasehold Reform – Should You Wait to Sell Your House?
Key points – The UK property market could be on the brink of a significant transformation with the proposed leasehold reform bill, which aims to make it easier and cheaper for leaseholders to extend their leases or buy freeholds. But what does this mean for you if you’re looking to sell your leasehold home? Let’s…