Housebuilding targets are one thing, but we need mortgage reform too July 16, 2025 Increasing the supply of new homes won’t make homeownership more affordable by itself – we need new kinds of mortgages too, says James Browne The government’s planning reforms that aim to increase the housing stock by 1.5m homes by the end of the parliament are a welcome step towards addressing Britain’s housing crisis. But supply [...]
Mortgage brokers on chopping block as AI overhaul gains pace July 14, 2025 Mortgage brokers could be the latest roles to be swallowed up by the spread of AI as homebuyers deploy modern tech in the space of cumbersome traditional homebuying services. AI has taken a dominant role for buyers with over a third using the tech to explore their options. Early adopters cited AI as streamlining product [...]
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 [...]
Rachel Reeves’ cash ISA plans would ‘choke mortgages’ July 3, 2025 Rachel Reeves’ plans to slash the tax-free cash ISA allowance “would be effectively choking mortgage availability” for those who need them the most, a building society’s CEO has said. Darlington Building Society was reacting to the news that the Chancellor is set to announce a lowering of the current £20,000 cap that savers are allowed [...]
FCA reviewing bank risk appetite to boost home ownership June 24, 2025 The Financial Conduct Authority has said it will review lenders’ risk-taking in its bid to boost home ownership. The City watchdog said it was seeking a “public conversation” on the “future of the mortgage market” as it looks to support economic growth through an overhaul on mortgage rules. An update to “responding lending rules” was [...]
Bank of England holds interest rates at 4.25 per cent June 19, 2025 The Bank of England has held interest rates to “squeeze out persistent inflationary pressures” amid tensions between Israel and Iran risking an alarming uptick in energy prices later this year. Officials said high inflation predictions and sticky wage growth figures had led them to opt for interest rates to be kept at 4.25 per cent [...]
Paragon Bank shares jump after analysts hike target June 16, 2025 Shares in Paragon Banking Group jumped on Monday after analysts reiterated their ‘Buy’ rating. The FTSE 250 bank’s stock climbed over two per cent in afternoon trading, reaching 908.50p. This came after Peel Hunt analysts upped their target price on the lender to 1,030p from 950p. “The group’s capital and funding position remain strong, with [...]
Mortgage lending plummets in April as estate agents cross fingers for rate cut June 2, 2025 Mortgage lending dropped in April after the market ‘reset’ following the end of the stamp duty holiday, according to new figures. Net borrowing of mortgage debt decreased sharply by £13.7bn to -£0.8bn in April, according to the Bank of England’s latest data. Net mortgage approvals for house purchases also fell for the third consecutive month, [...]
Mortgages rates set to fall after Bank of England interest rate cut May 9, 2025 Analysts have predicted that the Bank of England’s decision to reduce interest rates on Thursday will encourage major banks to cut mortgage rates. Lower rates will be a major affordability boost for the UK’s housing market, which continues to price out young buyers unable to rely on financial gifts or savings. “If homebuyers can borrow more, they [...]
What the Bank of England’s interest rate cut means for your mortgage May 8, 2025 The Bank of England has reduced rates by 0.25 percentage points to 4.25 per cent in a hotly anticipated cut that will leave homeowners with big decisions for their mortgage deals. The reduced cost for banks to borrow money will have broad implications for the mortgage market, as banks lower interest rates on loans. Major [...]