Over 900 deals were withdrawn in less than 24 hours, whilst lenders look to reprice their loans. Mortgage offers will return once interest rates have been reassessed following the budget and outlook for the future. More than 900 products, representing one third of the mortgage market, were pulled overnight between 27 and 28 September The […]
Mortgage lenders remove a record number of deals from the market Read More »
Following Chancellor Kwasi Kwarteng’s mini-Budget the value of the pound has drastically fallen. The value of the pound has fallen steeply since Chancellor Kwasi Kwarteng delivered his mini-Budget, briefly hitting a record low against the US dollar The situation is expected to lead to higher interest rates, which could reach 6% by May Mortgage rates
How is the budget is affecting the housing market? Read More »
The point in which stamp duty is paid has doubled for home movers from £125,000 to £250,000 and for first time buyers it’s increased from £300,000 to £425,000 on homes up to £625,000. The level at which stamp duty starts has been doubled from £125,000 to £250,000 The threshold at which first-time buyers start paying
Stamp duty relief and what to budget for Read More »
The housing market remains strong however price growth begins to lose momentum as demand for homes starts to slow. Demand for new homes remains above average right now, but is set to weaken as even more households feel the cost of living squeeze in the autumn months First-time buyers are currently the biggest group driving
Economic uncertainty impacts demand and house price growth Read More »
This is not a simple question to answer, however what we can anticipate based on historical events and the latest government regulations that are being put in place, that buyers will likely have lower mortgage offers from lenders and therefore smaller budgets when putting offers on homes. The problem; Interest rates rise to a
Is The Housing Market About To Crash? Read More »
It has recently come to everyone’s attention that energy prices were on the rise. The regulator Ofgem has announced a cap of 54% to the increase, the maximum limit has gone from £1277 to just under £2000 per year. Households in the UK will therefore see a hike in their energy bills. Some could be
Energy prices on the rise, how to offset the cost? Read More »
Property values rise at their fastest rate since 2007, as house price growth hits a 15-year high. Key takeaways The typical UK property has risen by 13%, since March 2020 Demand from potential buyers is 58% above the five-year average, but the supply of homes is also starting to increase, creating property hotspots A total
Value of average UK home rises by £29,000 in two years Read More »
The number of properties sold soared by 15% during the month of February, as 96,250 homes changed hands, according to HMRC. Key takeaways Almost 100,000 homes changed hands in February as the property market showed signs of an early spring bounce Home sales were 15% higher than in January but 20% lower than in
Nearly 100,000 homes change hands in February Read More »
New home listings were 5% higher in January than the previous five-year average, as the flow of supply starts to increase. Key takeaways The number of properties put up for sale were 5% higher in January than the five-year average House prices rose by 7.8% in the year to the end of January, but the
House price growth shows signs of slowing as supply increases Read More »
House prices have gone up by of 8.1% year-on-year, meaning the average UK home now costs £245,200. Find out what that money buys across the UK. The average UK home now costs £245,200, according to our latest House Price Index. That’s an increase of around £80,000 per home over the past decade. But what does that
10 homes for sale for £245,200, the new national average price for property Read More »
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