News 

The Bank of England has taken a significant step by lowering its interest rates for the second time this year, setting the rate at 4.75%. This reduction of 0.25 percentage points from the previous 5% rate marks the lowest level in over a year. The move, though widely...

  Chancellor Rachel Reeves has introduced significant changes in the Autumn Budget 2024, aimed at reshaping the housing landscape by increasing stamp duty for second homes and implementing measures designed to assist first-time buyers. Key Changes for Second...

Encouraging Inflation News In a recent speech, Bank of England Governor Andrew Bailey shared some positive news about UK inflation. He indicated that inflation is decreasing “faster than expected.” However, he also expressed concerns about possible changes in the...

The latest data from LMS shows a significant increase in remortgaging activity in September, as many homeowners look to secure better mortgage deals amid rising monthly payment costs. With the average monthly payment rising by £370.13 for those who remortgaged, it’s...

The UK housing market is showing signs of recovery after two years of stagnation. According to the latest RICS UK Residential Survey for September, house prices have risen nationally for the first time since October 2022, marking a key turning point for buyers and...

HSBC has introduced a sweeping range of reductions to its residential and Buy-to-Let (BTL) mortgage products, effective from Thursday, 3rd October. This move offers an opportunity for both new and existing mortgage customers to benefit from reduced rates across...

The Bank of England has decided to keep interest rates steady at 5%. This decision comes as the bank pauses its efforts to ease financial pressure on households. The monetary policy committee (MPC) voted 8 to 1 against lowering rates again, citing ongoing concerns...

Nationwide Building Society is set to implement significant mortgage rate cuts from today, Friday, 13 September 2024, providing a substantial boost to first-time buyers and home movers. With reductions reaching up to 0.25 percentage points, the changes primarily focus...

Mortgage borrowing has reached its highest level in nearly two years, fueled by recent interest rate cuts. The Bank of England reported 62,000 mortgage approvals in July, the most since September 2022, indicating that many prospective buyers were waiting for better...

Halifax is making it easier for first-time buyers to get a mortgage with a new update starting Thursday, August 29. They are raising the maximum Loan-to-Income (LTI) limit to 5.5x. This change is available to those with a household income of £50,000 or more, a...

Halifax has done some significant changes and modifications to this new version of the product, to address the concerns of brokers and customers. The lender has expanded its list of acceptable foreign currencies, now recognizing income in five additional currencies:...

The UK's inflation rate has risen for the first time this year. It is now 2.2% for the year to July. This little rise placed it slightly above the Bank of England's 2% target. This figure has held since May. This rise was not out of the blue. They mostly fell due to...

House prices have risen slightly. In July, the average price was £291,268, according to Halifax, a top UK mortgage provider. This marks a 0.8% above the rate in June and which takes the value of an average property to more than £2,200. The rise is slightly higher than...

Base rate cut to 5% as inflation remains low and level-headedBorrowing costs are unlikely to decline sharply in several months, the Bank of England Governor said on Thursday, after the key rates were cut for the first time in 2020. To recap, the central bank cut the...

Mortgage rates drop as lender competition heats up before the Bank of England's next rate decision. According to Moneyfacts, the average rate for a two-year fixed mortgage, which was nearly 6% at the start of the month, has now dropped to 5.79%. The average five-year...

Interest rates influence mortgage, credit card, and savings rates for millions of people across the UK.In June, the Bank of England maintained rates at 5.25% for the seventh consecutive time, even though inflation had decreased to its 2% target. Some economists...

Approximately 400,000 homeowners are projected to see their mortgage payments rise by more than 50%, according to the central bank's financial stability report.  The Bank of England has stated that around three million UK households will face higher mortgage...

Following its landslide election win, the property industry is urging the Labour Party to fulfill its promises regarding planning reform and increased housebuilding.  The City's reaction to Keir Starmer's victory has been positive. On the FTSE 100 index,...

The Bank of England reports rising mortgage and rent costs impacting household savings and financial resilience, while UK banks remain well-positioned to support despite global uncertainties.According to the Bank of England, approximately three million households will...

Lenders are increasingly raising rates, with some reducing them and others withdrawing products. New and attractive mortgage deals are also entering the market.This week, the number of lenders raising rates on selected fixed mortgages significantly outpaced those...