News 

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...

Labour pledges to make permanent a scheme for low-deposit mortgages, aiming to fulfill the dream of home ownership for first-time buyers.Labour has announced it will make permanent a scheme designed to ensure low-deposit mortgages are available for first-time buyers...

The annual inflation rate for average UK house prices was 1.8% (provisional estimate) in the 12 months leading up to March 2024, compared to a revised estimate of -0.2% in the 12 months leading up to February 2024.This information is based on the latest data from the...

Telegraph Money details how declining price increases will affect your finances.In April, inflation dropped to 2.3%, a welcome decline from March's 3.2%. Despite this, it remains above the government's 2% target. The decrease raises hopes for a Bank of England rate...

Barclays Bank, HSBC, and TSB announce reductions, reversing some of the price increases seen in recent weeks.The interest rate on a fixed mortgage remains unchanged until the deal expires, typically after two or five years, at which point a new deal must be chosen....

In May, the Bank of England maintained interest rates at 5.25%, but cuts are anticipated later this year. These rates influence mortgage, credit card, and savings rates for millions across the UK.An interest rate indicates the expense of borrowing money or the benefit...