Tag: Nationwide
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House Price Falls Until 2025 Forecast
Despite the economic headwinds faced by the UK, including rising interest rates and the increased cost of living, the housing market has shown remarkable resilience. According to JLL, although there is an expected decline in house prices, the downturn is projected to be less severe than the one experienced during the 2008 global financial crisis.…
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BoE Holds Base Rate – What Does it Mean for Mortgages?
The Bank of England’s Monetary Policy Committee (MPC) has decided to keep the base rate steady at 5.25%. For those keeping tabs, this marks the second time they’ve paused on altering this crucial rate after a series of 14 increases that began in December 2021. For those with mortgages or considering stepping into the housing…
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Houses in Liverpool and Manchester Selling Fastest
Liverpool and Manchester have become the prime hotspots in the property market, with homes selling at an incredibly rapid pace. To be precise, homes in Liverpool are on the market for a mere 17 days before being snatched up, reflecting a vibrant demand in the region. Furthermore, homes in Salford, Basingstoke and Deane, and Sheffield…
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An Unexpected Uptick in House Prices
According to the mortgage provider Nationwide, UK house prices experienced a surprising increase last month. In the span between September and October, house prices surged by 0.9%. Not only was this the first monthly rise we’ve seen since April, but it was also the most significant since March 2022. This increase took many by surprise,…
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UK Landlords: Still Confident in Property Investment
In recent years, the UK property market has seen a myriad of shifts and turns, impacting homeowners, renters, and property investors. A recent survey by Leaders Romans Group (LRG) looks at the sentiments and expectations of landlords across the country, providing insights into what the future may hold for property investment. Growing Opportunities in the…
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High Interest Rates Dampen Remortgaging Activity
Recent data reveals that homeowners switching to a different mortgage lender, a process known as remortgaging, has dwindled to its lowest numbers since 1999. This slump can be directly linked to the increased costs of borrowing. But what has led to this rise in borrowing costs? Inflation’s Role in Setting Interest Rates Persistently high inflation,…
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TSB Increases Mortgage Rates
TSB, one of the UK’s prominent banking institutions, has recently made a strategic adjustment to its mortgage rates. Specifically: Market Comparisons Given the rate adjustments by TSB, where does the market stand now? Why the Sudden Change? In recent months, the general trend across lenders has been decreasing mortgage rates. This makes TSB’s decision somewhat…
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Rent Squeeze: Londoners’ Pockets Hit Hardest
Data from the Office for National Statistics (ONS) for the year leading up to March 2022 paints a concerning picture: London dwellers have been doling out an eye-watering 35% of their incomes to cover rental costs, averaging £1,450 per month. This figure isn’t just a record for the city; it’s the highest across the UK,…
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School’s Influence: The Hidden Factor in UK House Prices
In the complex tapestry of factors that determine property values, one thread consistently weaves its influence: the presence of reputable schools. For families across the UK, the quest for quality education forms a central chapter in their property search story, often leading them to make significant lifestyle and financial decisions. The Pull of Academic Excellence…
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A Record-Breaking Year for Single Family Housing Investment
2023 has set a new precedent for the Single Family Housing market in the UK. As reported by Savills in their latest UK SFH Spotlight report, the sector saw an influx of over £1 billion in the first three quarters of the year. But this figure only scratches the surface of the potential forecast for…