IMF warns central banks should be wary of leaving interest rates on hold for too long April 8, 2024 In a chapter from its latest World Economic Outlook, the IMF noted that different economies have experienced different effects from higher interest rates.
Buy-to-let repossessions jump 56 per cent as higher interest rates bite April 3, 2024 The buy-to-let market has been hammered by higher interest rates with lending plummeting and arrears rising, according to new data released by UK Finance.
‘Life returning to UK housing market’ as mortgage approvals climb to highest level since mini-budget April 2, 2024 Ashley Webb, assistant economist at Capital Economics, also said the figures showed that higher interest rates were having less of an influence on customers' savings behaviour.
Pair handed suspended prison sentences for ‘systematic’ £3m mortgage fraud March 28, 2024 Two men have received suspended prison sentences for making £3m worth of fraudulent mortgage applications following a prosecution brought by the Financial Conduct Authority (FCA).
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.
Mortgage arrears surge 50 per cent to seven-year high as Brits squeezed by higher rates March 12, 2024 The proportion of UK mortgages in arrears rose to its highest level since 2016 at the end of 2023, according to data from the Bank of England, as borrowers are squeezed by high interest rates and household costs.
LSL Property Services raises expectations as mortgage market improves March 6, 2024 LSL Property Services, one of the UK’s largest providers of mortgage and valuation services, appears to be on the up following an improvement in the UK housing market.
One in five first-time buyers take out 35-year mortgages or longer amid economic turmoil March 4, 2024 Personal savings and mortgage lending were battered by inflationary pressures and higher borrowing costs last year, according to new data, amid a surge in home buyers take out loans with terms of 35 years or longer.
Why the Spring Budget could be crucial for prospective homeowners March 1, 2024 For anyone looking to invest in bricks and mortar, the contents of Jeremy Hunt’s Budget red box will likely be a source of more than a little fascination.
Mortgage approvals rise to highest level in a year – but UK housing market rebound unlikely to last February 29, 2024 The figures show that the housing market is steadily rebounding from the impact of higher interest rates.