‘Mortgage mayhem’: Banks’ rates soar past 5.5 per cent amid Iran war volatility Banking The UK mortgage market has been flipped upside down with Brits facing higher prices to borrow in the short-term as the Iran war rattles the economy. The average five-year fixed deal for a homeowner has spiked to 5.54 per cent this morning, up from 4.95 per cent at the start of March, according to financial [...]
How likely are property tax reforms in the Autumn budget? Property Rumours have been swirling in Westminster about a variety of property tax changes Rachel Reeves might introduce in this Autumn’s budget – or further down the line – in an attempt to plug a £40bn gap in the nation’s finances while overhauling a complex system of levies and charges. The Treasury is reportedly looking into [...]
Rachel Reeves eyes boost for first-time buyers with mortgage reforms Economics Rachel Reeves will today unveil a fleet of reforms in a bid to boost home ownership as she plans to slash ‘financial red tape’. Speaking in Leeds ahead of her Mansion House address, the Chancellor will announce plans for the Prudential Regulation Authority (PRA) to increase high loan-to-income mortgages (over 4.5 times a buyer’s income) [...]
Rachel Reeves warned cash ISA reforms will hike mortgage costs July 7, 2025 Rachel Reeves’ plans to cut the cash ISA limit have been blasted by the bosses of Britain’s top building societies over fears they will hike borrowing costs. The Chancellor has been warned her proposals to slash savers’ annual cash ISA allowance from the existing tax-free threshold will drive up costs for homeowners and businesses. Concerns [...]
London gets even worse for first-time buyers as UK cities ranked September 2, 2024 London has become an even worse city for first-time buyers, according to new figures, but the situation has now stopped people flocking to the capital for the social and career opportunities. The capital has moved down one place to 44th out of 50 in the latest ranking from mortgage provider Aldermore. The study compared cities [...]
Price of the average London home on the rise as UK demand rockets August 28, 2024 The ‘average’ London home will now set you back more than £530,000 after house prices in the capital increased for the first time since April 2023, according to figures released today. Data from Zoopla’s latest house price index revealed that London property prices were up 0.2 per cent year on year in the first seven [...]
London homeowners saving less money as gap between renting and buying narrows March 27, 2024 In London, the monthly difference between renting and buying is just one per cent. Buyers in the capital save £12 a month compared to their lodging counterparts.