House prices: Five things we’ve learnt from the latest data (and why we might still be set for a crash) August 21, 2023 House prices might not crash - but neither renters nor homeowners have all that much to cheer as we head into September
House prices: August sees biggest fall since 2018 as signs of crash mount August 21, 2023 The average price of a home fell by 1.9 per cent in August, the biggest dip for the month since 2018, following a season of surging mortgage rates which led sellers to slash the prices of their homes in order to secure a sale. During the tail end of the summer the cost of a [...]
Want a lower interest rate on your mortgage? Make it green and retrofit your home August 18, 2023 Retrofitting our homes and making them energy efficient is the big housing challenge of the future. New ways of financing it are emerging, like green mortgages, writes Emma Harvey-Smith
House prices rise 1.7 per cent – but Brits advised they will keep coming down August 16, 2023 Average UK house prices increased by 1.7 per cent in the 12 months to June down from a revised 1.8 per cent in May 2023, but property experts are warning this won’t continue for long. New figures from the Office for National Statistics show the cost of a home in the UK is £5,000 more [...]
FCA: One in 10 interest-only mortgage holders may be ‘overly optimistic’ on debt August 15, 2023 One in 10 interest-only mortgage holders might be “overly optimistic” about paying off their debt when the time comes, the City watchdog has suggested.
Santander becomes latest bank to cut mortgage rates amid falling inflation August 14, 2023 Santander has become the latest high street lender to reduce the rates of its mortgage deals, following a stream of other cuts by fellow banks last week, in a signal of hope for prospective buyers. On Monday, the bank cut its selected residential purchase and remortgage fixed rates by between 0.05 per cent and 0.29 [...]
Co-operative Bank picks up £479m Sainsbury mortgage portfolio amid speculation over banking M&A August 11, 2023 The Co-operative Bank has bought the mortgage portfolio of Sainsbury’s Bank for £464m as speculation over the future of the UK’s mid-sized lenders continues. The portfolio contains around 3,500 customers and is worth nearly £480m. The deal’s completion comes after months of negotiations, with reports earlier in the year suggesting talks between the two had [...]
Mortgage and rent payments ‘difficult’ for almost 40 per cent of Brits August 11, 2023 Some 38 per cent of Brits have confessed to finding it difficult to afford their rent or mortgage payments over the past month, as the cost of living crisis continues to wreak havoc on the public’s personal finances. This figure was around 29 per cent in early August 2022, new figures from the ONS show, [...]
Analysis: Wilko collapse is the Woolworths of this financial crisis August 10, 2023 The collapse of Woolworths was described as “the first domino of physical retail Armageddon.” Although it might not justify that epithet, the collapse of Wilko shows which way the wind is now blowing.
Arrears continue to rise as higher rates pour pain onto borrowers August 10, 2023 Arrears continued rising in the second quarter as customers struggled with soaring repayment costs, new data shows. According to figures from industry body UK Finance, there were 81,900 homeowner mortgages in arrears of more than 2.5 per cent in the second quarter, seven per cent more than the previous quarter. Within this, 30,940 mortgages were [...]