Tag: Bank of England
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Mortgage Rate Drop on the Horizon for Homeowners!
Could August see the Bank of England cut interest rates and provide much-needed relief for mortgage holders? Good news for homeowners and aspiring buyers! Mortgage rates are predicted to fall as lenders benefit from cheaper funding options. This follows recent figures revealing a decline in average swap rates – a key factor influencing mortgage interest…
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Bradford Buys – City Crowned Top Property Hotspot as Buyers Bag Bargain Homes
Bradford has been named the hottest spot for city property for the second time in a row, as buyers flock to snap up affordable homes. The Yorkshire city topped the charts thanks to its winning combination of budget-friendly prices and a surge in buyers priced-out of nearby Leeds. Experts say first-time buyers and savvy investors…
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Kent House Prices Cooling Down – Is Now the Time to Buy?
Thinking of buying or selling a house in Kent? New figures show that in most parts of the county, house prices have been dropping over the past year. According to the latest data from online estate agent Purplebricks, the average house price in Kent has fallen by 2% to £338,474. In Medway, it’s a similar…
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Mortgage Rate War Erupts – This Week’s Best Deals
Good news for homebuyers! Mortgage rates have finally dipped below 4% for the first time in months. Nationwide Building Society is now offering a five-year fixed-rate mortgage at just 3.99% for new customers with a 40% deposit. This move has sparked hopes of a “summer of savings” as experts predict other lenders will have to…
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House Prices Dip but Could an Autumn Boom Be on the Cards?
The average asking price for a property in the UK has dropped slightly this month, with experts predicting an uptick in the autumn. The average price for a property coming onto the market is now £373,493, a drop of 0.4% or £1,617 compared to June, Rightmove reports. This is being put down to sellers trying…
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Gen H Cuts Mortgage Rates – Up to 30bps Off
Gen H is slashing mortgage rates by up to 30 basis points (bps) starting from today (22nd July)! This means you could save hundreds of pounds every year on your mortgage repayments. Gen H is reducing rates because experts predict the Bank of England will cut the base rate in August or September. This usually…
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House Prices Bouncing Back – Is Now the Time to Buy?
The property market is showing strong signs of recovery, with house prices steadily climbing back up. The latest Acadata/esurv House Price Index reveals that house prices are only 1.6% lower than this time last year. This means the average house price in England and Wales is now a healthy £360,175. So, what’s behind this positive…
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More Buy-to-Let Mortgages Available
After a period of uncertainty, the number of buy-to-let mortgage products is on the rise, offering you more choices than ever before. The experts at Octane Capital, a specialist lender for property investors, have crunched the numbers and found a significant increase in mortgage products across the board. This is great news for everyone looking…
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London House Prices Finally Edge Upwards
After a year of falling prices, the average house price in the capital inched up by 0.2% in May. This means the average London property will now set you back a cool £523,000! This positive shift, revealed in the latest figures from the Office for National Statistics (ONS), marks the first annual rise since May…
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ONS House Prices – May 2024
Good news for sellers as house prices continue to rise across the UK, but are things looking brighter for first-time buyers too? The average price of a house in the UK reached £285,000 in May 2024, a jump of £6,000 compared to the same time last year. This represents a 2.2% increase annually, showing a…