Tag: Bank of England
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Scottish House Prices Keep Climbing Despite Rent Worries
Good news for Scottish homeowners – house prices have hit record highs for the third month in a row, despite recent worries about rent caps hitting investment. The average price for a property in Scotland is now £225,636, according to the latest figures from property experts Walker Fraser Steele. That’s a jump of 2.5% compared…
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MPowered Announces More Mortgage Rate Cuts
MPowered Mortgages has slashed their two-year fixed rates for the second time in a week, offering a glimmer of hope to homebuyers facing a challenging market. This welcome news comes as a response to soaring demand, with double the number of people looking for two-year fixed rates compared to last year. What are the new…
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Mortgage Rate Cuts – Yorkshire Building Society and Santander Slash Costs
Good news for homebuyers and those looking to remortgage – Yorkshire Building Society and Santander are the latest lenders to announce mortgage rate cuts. This follows similar moves by Accord and TSB, offering some much-needed relief for borrowers. Yorkshire Building Society Makes a Move Yorkshire Building Society is cutting rates for the second time in…
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Bradford Tops the Charts as the UK’s Most Affordable Property Hotspot!
Looking for a bargain on your dream home? Look no further than Bradford! The northern city has clinched the top spot for property hotspots for the second quarter in a row, and it’s easy to see why. With house prices significantly lower than nearby Leeds, savvy buyers are flocking to Bradford to snag incredible deals.…
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Renters Paying More – Is This The New Normal?
With those pesky interest rates playing havoc with mortgages, rents are still climbing in most parts of the UK. The property website Home says that while London and the Midlands have seen slight dips, rents are still soaring in Scotland, Wales, Yorkshire, and the South West. Average UK rents are now 2.5% higher than they…
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First-time buyer mortgages are £100 cheaper than last year – could now be the time to buy?
Good news for first-time buyers – mortgage rates are dropping! It’s finally happening! Mortgage rates are dropping, making it cheaper to get on the property ladder. The average five-year fixed-rate mortgage is now 4.97%, down from a hefty 5.91% a year ago. That’s a significant saving for anyone looking to buy their first home. Two-year…
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House Hunters Rush to Bag a Bargain as Sales Rise 15%
Good news for sellers as Rightmove data reveals a surge in agreed house sales, fuelled by hopes of interest rate cuts. Could this be the perfect time to sell? The property market is showing signs of hotting up, with the number of agreed house sales jumping by a significant 15% compared to the same period…
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Two-Year Mortgage Deals Double in Popularity as Buyers Bet on Falling Rates
Homeowners are increasingly turning to two-year fixed-rate mortgages in a gamble that interest rates will fall in the near future. New data from online mortgage lender MPowered Mortgages has revealed a surge in popularity for shorter-term fixes. In the first half of 2022, just 21% of movers opted for a two-year fixed rate deal. This…
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Scottish House Prices Reach New Highs
Scottish house prices have smashed records for the third month in a row, according to the latest data. The average price tag on a property north of the border has now climbed to £225,636! This latest rise represents a 2.5% jump compared to this time last year and a 0.3% rise from April. This means…
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House Prices Stall as Buyers and Sellers Play the Waiting Game – RICS
The property market is in a stalemate, with both buyers and sellers hesitant to make a move, according to a new report. The Royal Institution of Chartered Surveyors (RICS) monthly survey reveals that the number of house sales has fallen for the third month in a row. This is because there are fewer buyers looking…