Latest News
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Halifax Cuts Rates with 4.73% Five-Year Fix
Starting Monday, 16 October, Halifax is offering a five-year fixed rate at a mere 4.73%. This initiative forms part of a series of revised packages that Halifax is rolling out, which include a wide range of mortgage products. These revamped offers are not just for the standard home purchase mortgages; they also extend to first-time…
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Post-Summer House Price Growth Slows to a Crawl
The UK’s housing market, typically buoyant following the summer months, is experiencing its most sluggish growth since the financial crisis of 2008. This deceleration is largely attributed to a series of interest rate hikes initiated by the Bank of England, which have significantly influenced buyer and seller behaviours across the board. A Subdued Surge in…
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London’s Rental Market: More Properties, Steady Prices
Estate agents Foxtons highlight a significant 10% year-on-year growth in new rental listings in London as of September. This uptick in supply signals the market’s recovery trajectory, breathing new life into the city’s diverse neighbourhoods. However, the market has not fully rebounded to the level of pre-pandemic years. The current supply hasn’t yet reached the…
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Gazumping: A Buyer’s Guide
For many, purchasing a home is a significant milestone. It’s often the culmination of years of hard work, saving, and planning. However, the journey from deciding to buy a house to actually securing the keys can be fraught with challenges, not least of which is a phenomenon known as “gazumping.” Gazumping occurs when a seller,…
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Sales Dip, Yet Optimism Remains for Q4
The third quarter of 2021 showcased a notable downtrend in the housing sector, particularly in England and Wales, according to Street.co.uk’s latest market report. Residential property sales across England and Wales experienced a notable decline in the recent quarter, with transactions dropping by 12%. This downtrend was not solely confined to completed sales but also…
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Single-Family Housing Could Change UK’s Rental Market
In recent years, the UK’s property landscape has undergone a significant transformation, particularly in the rental sector. The once underestimated Build to Rent (BTR) sector is now a rising star, showing remarkable growth and adaptation to consumer needs, especially among single-family households. In today’s BTRNews, an article argues that this change isn’t just a blip…
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London’s Luxury Homes Lure Cash-Rich Buyers Amid Market Slowdown
During a general cooling in the UK property market, the upper echelon of London’s real estate is proving to be an exception. Wealthy buyers, largely unaffected by the mortgage cost hike, are continuing to invest substantial cash in the city’s most luxurious residences, providing stability in what has otherwise been an uncertain time for property…
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Short-Let Platforms Will Pass Property Owners’ Tax Info to HMRC
Significant changes are on the horizon concerning how income from holiday home investments is reported to HM Revenue and Customs (HMRC). These changes, expected to come into effect from January 2024, form part of a broader initiative to ensure tax compliance across various income streams, many of which have been popularised by the digital age.…
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A Rocky Climate for Landlords
Recent market conditions have proven challenging for landlords. Factors such as climbing interest rates, unstable swap markets, and strained affordability assessments are hindering the acquisition of new properties and the remortgaging of existing ones. Compounding these financial pressures is the reduced assortment of available mortgage deals. The Department for Levelling Up, Housing & Communities (DLUHC),…
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Saffron Revamps Mortgage Offers
Saffron Building Society has recently implemented significant changes in its mortgage rates and loan offerings, including its offerings for first-time buyers, self-employed individuals, and those eyeing larger residential or self-build projects. For Self-Builders Needing Larger Loans One of the most notable changes in Saffron’s revamp is the increase in the maximum loan size for its…