Tag: Bank of England
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Martin Lewis Mortgage Warning – Halifax & Lloyds Cut Rate Lock-in Period!
Homeowners with Halifax and Lloyds mortgages are being urged to act fast as the banks cut their rate lock-in window by a third. This means borrowers will only be able to secure a new mortgage rate four months before their current deal ends, down from six months previously. This change could leave homeowners with less…
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House Hunters Back in Force but Price Wars Continue
Good news for sellers – buyer demand is on the rise again with more people registering with estate agents in July. But the bad news? The difference between what sellers want and buyers will pay is getting wider. Propertymark, the experts in all things housing, say their members saw an average of 71 new buyers…
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House Prices Set to Rise Despite “Painful” Budget, Says Expert
Experts predict house prices will climb by 3% this year, even with the upcoming budget expected to bring financial challenges. Despite Prime Minister Keir Starmer warning of a “painful” budget looming, property expert Tom Brill, head of UK residential research at Knight Frank, believes the housing market remains strong. While the Prime Minister has hinted…
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Mortgage Approvals Bounced Back in July
Mortgage approvals have bounced back to their highest point since last September, according to the Bank of England. This suggests the property market could be heating up again. 62,000 mortgages were approved in July, up from 60,600 in June. That’s the highest number since September 2022, when 65,100 approvals were recorded. This surge in approvals…
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Housebuilder Shares Rise as UK Property Market Rebounds
Shares in UK housebuilders are on the rise following positive news from property website Zoopla. Their latest house price index reveals that house prices bounced back in July, reversing a dip seen in June. The index also shows that buyer demand and sales agreements have surged in 2024 so far. House Price Growth Buyer Demand…
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MPowered Cuts Mortgage Rate for the Fourth Week Running!
MPowered Mortgages has reduced rates for the fourth time in August! This means cheaper deals on two-year, three-year, and five-year fixed-rate mortgages. So, if you’re looking to buy or remortgage, now could be a great time to secure a lower rate. What are the new rates? Here’s a breakdown of the reductions: Two-year fixed-rate mortgages:…
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Mortgage Rate War Could See House Prices Rise This Year
Good news for sellers, as experts predict house prices will increase this year, fuelled by battling mortgage lenders and the promise of cheaper borrowing. After a year of falling prices, experts at Knight Frank estate agency now believe UK house prices could rise by 3% in 2024. This is a dramatic turnaround from their earlier…
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Mortgage Rate Cuts Spark Housing Market in Somerset
Estate agents in Somerset are reporting a rise in activity in the housing market, with buyers and sellers rushing back in response to recent interest rate cuts. One agent in Frome even described their busiest day in three years! This follows a challenging period for the housing market, with high prices and soaring mortgage rates…
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Yorkshire House Prices Defy National Trend with August Rise After Interest Rate Cut
While house prices across the UK have dipped, Yorkshire and the Humber are seeing a different story with asking prices actually going UP! Rightmove’s latest data shows that the recent Bank of England interest rate cut has given the housing market a much-needed summer boost. Across the UK, buyer demand has surged by 19% since…
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House Prices Climb for Seventh Month Straight
Asking prices for homes in England and Wales have gone up for the seventh month in a row, showing the market is still going strong. Prices rose by 0.2 percent in July, adding up to a 1.2% increase since the beginning of the year, according to the latest Home.co.uk Asking Price Index. Every little bit…