Tag: Bank of England
-
Mortgages – How the Latest Inflation Figures Impact You
Homeowners and prospective investors have been on a rollercoaster ride, thanks to recent shifts in mortgage rates by some of the UK’s largest lenders. The market has seen a mix of ups and downs, with announcements that could impact your pocket directly, especially if you’re in the market for a new home or trying to…
-
London’s Property Prices – The Highs and Lows
London’s housing market has seen its fair share of ups and downs over the past year. Yesterday’s report from the ONS has shed light on how the capital’s property prices have fared, revealing a mixed bag of results across different boroughs. On average, house prices in London have taken a dip, declining by nearly 5%…
-
UK Housing Market Takes a £27 Billion Hit, But Remains Strong Overall
The UK housing market experienced a decrease in value last year, shedding around £27 billion across the nation. This decline, spurred by rising mortgage costs and increased financial strain on households, marks the first of its kind since 2012. However, despite this setback, the housing market has shown remarkable resilience, maintaining a substantial overall value…
-
Bridging Loans Hit Record Highs in 2023
In 2023, the bridging loan sector witnessed growth, with a staggering £831 million in loans transacted. This figure marks the highest annual gross lending total since the inception of Bridging Trends in 2015, highlighting a significant increase in the market’s activity and borrower confidence. The year kicked off on a high note, with the first…
-
Mortgage Rate Drop – Biggest Decline in Two Years Offers Hope to Homebuyers
The UK mortgage market has experienced its most significant monthly drop in average two-year fixed mortgage rates since December 2022. This decline could signal a golden opportunity for borrowers to secure more affordable financing options amidst a volatile economic landscape. According to recent data from Moneyfacts, a leading financial information provider, the average two-year fixed…
-
London Lures Buyers Back as Home Counties Prices Tumble
The allure of London living has rebounded, eclipsing the once-coveted Home Counties, as a recent property report reveals significant price adjustments in the face of changing work patterns and economic pressures. The picturesque Home Counties have long been a magnet for those seeking the best of both worlds. However, a new prime property report from…
-
Mortgage Rates On The Rise
Major banks and lenders like Halifax, NatWest, Virgin Money, and TSB have announced hikes in their fixed-rate mortgage deals. This move reflects the broader market’s response to increasing swap rates—the interest rates at which banks lend to each other—amid expectations that interest rates will remain elevated for an extended period. Understanding The Shift The Bank…
-
UK Housing Market – Signs of Recovery Despite Challenges
The latest findings from the January 2024 RICS UK Residential Market Survey have sparked optimism in the housing sector, showcasing a series of improvements across crucial market indicators. A standout revelation from the survey is the positive shift in sales volume expectations for the upcoming year, buoyed by the anticipation of interest rate reductions by…
-
UK House Prices – Signs of Market Stabilisation Emerge
According to the latest figures from Halifax, one of the country’s leading mortgage providers, UK house prices have risen for the fourth month in a row this January, reaching levels not seen since October 2022. This consecutive rise marks a hopeful sign of stabilisation in the housing sector, buoyed by easing mortgage rates and a…
-
Mortgage Rates Rise But First-Time Buyers Catch a Break
Two of the UK’s banking giants, HSBC and Halifax, have announced increases in their mortgage rates, bucking the trend of anticipation for a cut in interest rates by the Bank of England later this year. This news comes as a blow to homeowners looking to switch deals or borrow more, with HSBC revealing hikes in…