Mortgage rates won’t dip below four per cent this year, experts say November 26, 2023 Mortgage rates are unlikely to dip below four per cent before the end of this year, industry experts told City A.M.
HSBC set to reduce fixed-rate deals as hopes rise that mortgage rates will start to fall July 25, 2023 HSBC became the first high street bank to announce they will be reducing rates on a swathe of their fixed-rate products, sparking hope that mortgage rates might begin to fall. Mortgage rates have spiralled in recent months as inflation has remained stubbornly above the Bank of England’s target. Traders are now betting that the Bank [...]
Mortgage rates climb to 15-year high following surprisingly strong wage growth July 11, 2023 The typical rate available on a two-year fixed mortgage has climbed to a 15-year high, surpassing the levels seen last Autumn in the wake of the disastrous mini-budget. According to Moneyfacts, the average two-year fixed residential mortgage rate hit 6.66 per cent, marginally higher than the 6.65 per cent seen last October. This was the [...]
Value of London homes sinks as red hot mortgage rates continue to rattle market July 6, 2023 Some 68 per cent of west London homeowners have seen the value of their property decrease since last November, new data shows, as soaring mortgage rates and a difficult buyer market rattle the capital’s housing sector. As buyer confidence falls due to red hot mortgage rates 7,000 homes across west central London decreased in value [...]
Brits untroubled by rising mortgage rates as property transactions rise December 21, 2022 Monthly property transactions have increased across the UK and returned to pre-pandemic levels despite the ongoing cost of living crisis. Today, HM Revenue and Customs (HMRC) published statistics indicating that monthly property transactions in the UK above £40,000 have increased consecutively over the past nine months. Frances McDonald, research analyst at Savills said: “In light [...]
London’s wealthy put homes up for renting as mortgage rate rises bite June 28, 2023 London’s wealthy are placing their homes up for rent as they struggle to reach their ideal asking price on pads across upmarket boroughs such as Chelsea and Mayfair. Following the Bank of England’s decision to hike interest rates by 0.5 per cent, figures from estate agent Knight Frank show affluent sellers in some of London’s [...]
Two-year mortgage rates have biggest monthly drop since 2022 as Santander is latest to cut February 12, 2024 Average two-year fixed mortgage rates have seen their biggest monthly drop since December 2022, according to a financial information website, despite mounting economic pressure squeezing lenders' margins.
Property transactions slide 17 per cent in October as hangover from high mortgage rates drags on November 30, 2023 The number of new homes bought in October was 17 per cent lower than the year before, as high mortgage rates during the summer led to lower activity, according to the latest figures from HMRC.
Three more lenders cut mortgage rates as others warned to ‘sharpen pencils or risk losing out’ November 14, 2023 First Direct, Halifax and HSBC UK have all cut their rates, while others have been warned they risk losing out.
Average five-year fixed mortgage rate slides down towards six per cent mark September 27, 2023 The average five-year fixed-rate homeowner mortgage is edging closer to falling back below the six per cent mark, according to figures from a financial information website.