Tag: Nationwide
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Mortgage Approvals Soar to 17-Month High
The housing market is showing signs of significant recovery, with mortgage approvals reaching their highest level in over a year. This upswing comes as borrowing costs have started to decrease, marking a positive shift for potential homeowners. In February, the UK saw a substantial increase in the number of mortgage approvals, surpassing the expectations of…
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Slight Dip in the Housing Market – UK House Prices Fall for the First Time in Months
The housing market in the UK has hit a bit of a bump in March, marking the first price decline after two consecutive months of gains. This subtle downturn comes as a reflection of the challenges posed by high mortgage rates, painting a picture of a market that is, at best, “subdued.” Nationwide building society,…
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London Home Hunters Snag Deals as Sellers Slash Prices
London sellers are cutting asking prices by an eye-catching £19,500 on average to clinch sales. Zoopla’s recent analysis has revealed that to secure a sale, London property sellers are resorting to significant price reductions, with homes going for an average of 4.6% less than the initial asking price in March. This reduction marks a slight…
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Sky-High Rents – Over Half of UK’s Rentals Now Costing £1,000 a Month
A recent study has shown that the cost of renting a home in the UK is soaring, with more than half of all rental homes now commanding prices above the £1,000 per month mark. This situation underscores a growing problem in the housing market, where the demand from tenants far outstrips the supply of affordable…
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Mortgage Rate Hike by Nationwide
Nationwide Building Society, one of the UK’s largest mortgage lenders, has announced an increase in its mortgage rates for current customers. This news comes as a dampener for those clinging to the hope of an early relief from the Bank of England’s rate cuts. From today, 19th March, Nationwide is set to adjust the costs…
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House Prices Defied Predictions – The Unexpected Stability of 2023’s Housing Market
There were widespread predictions of doom and gloom for the housing market in 2023, but the actual outcome left many experts scratching their heads. Despite rising interest rates reaching heights not witnessed since the financial turmoil of 2008, the UK’s housing market demonstrated remarkable resilience. This tale of unexpected stability serves as a stark reminder…
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Savings for Landlords as Landbay Cuts Rates
Landbay, a key player in the buy-to-let mortgage sector, has announced significant rate cuts across a range of its products, specifically targeting those interested in houses with multiple occupations (HMOs) and multi-unit freehold blocks (MUFBs). For small HMOs and MUFBs—properties with up to six bedrooms or units—Landbay has trimmed interest rates by up to 0.25%.…
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UK Mortgage Rates on the Rise – Best Options This Week
Securing an affordable mortgage has become a bit more challenging for UK house hunters. As mortgage providers hike their rates, the dream deals of below 4% have all but disappeared, making it crucial for prospective homeowners to stay informed about the latest shifts in the mortgage landscape. The End of Sub-4% Mortgage Deals Mortgage rates,…
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How “Build to Rent” Is Changing the Game For Older Renters
The “Build to Rent” (BTR) sector, though still in its early days, is on the cusp of a major boom, with demographics indicating a rise in older renters seeking quality and stability in their housing choices. Build to Rent properties, designed specifically for renting rather than sale, are becoming an increasingly prominent part of the…
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UK House Prices Rise by 1.2%
UK house prices have taken a positive turn for the first time in over a year this February, signalling a potential revival for the property market. This resurgence comes as a breath of fresh air to homeowners and potential buyers alike, following a period of stagnation and uncertainty. According to Nationwide, Britain’s largest building society,…