In November, house prices were down 2.3% in a month to an average of £285,579, according to the latest Halifax House Price Index. Overall almost £7,000 was wiped off house prices as the UK registered its third consecutive month of price falls and the largest since the financial crisis in 2008. But average prices are
House Prices Down 2.3% In November – Largest Drop Since Financial Crisis Read More »
A continued reduction in Swap Rates has led to lenders making further rate reductions with the comeback of Tracker mortgage products currently seen to be the best value for money.
Further Mortgage Rate Reductions As Swap Rates Continue To Fall Read More »
England’s 2022 World Cup campaign starts today at 1pm against Iran, let’s hope they can lift the nations spirits and bring some early cheer to
Come On England !! Read More »
UK inflation has jumped to a 41 year high in October, rising from 10.1% in September to 11.1% in October. The spiralling cost of energy and food are the main items contributing to high inflation with Bank of England predicted to increase rates by a further 0.5% in an attempt to control the upward trend.
Inflation Jumps To 41 Year High At 11.1% Read More »
What Are Swap Rates ? Swap Rates are the interest rate mortgage lenders pay financial institutions to acquire funding for a set period time i.e. 2, 5 and 10 year terms which are used to set the price for mortgage rates offered. Why have swap rates become more volatile ? Volatility and uncertainty drove up swap rates
Swap Rates Falling – Lenders Reducing Mortgage Rates Read More »
Bank of England (BOE) have today increased their interest rate by 0.75% taking the Base Rate to 3.00% in an attempt to control rising inflation with factors including the ongoing cost-of-living crisis, Putin’s war in Ukraine, Liz Truss’ catastrophic ‘mini-Budget’ and later resignation have all contributed to the rise. Lenders are withdrawing products to re-price
BOE Increases Rates By 0.75% Read More »
After falling to 9.9% in August UK inflation rose again in September to 10.1%. The Office for National Statistics (ONS) stated rising food prices contributed mostly to the upward change between August and September 2022 while a fall in petrol/diesel made the largest downward contribution. The latest figures will likely impact the Bank of England’s
Inflation Increases Above 10% Read More »
Fixed rate mortgages have hit the highest level seen since the 2008 financial crisis with 2-year fixed rate average standing at 6.53% and 5-year fixed rates coming in at 6.36% (data from Moneyfacts). Yesterday the new Chancellor Jeremy Hunt ripped up former Chancellor Kwasi Kwarteng’s mini-Budget after which the cost of borrowing dropped and the
Fixed Mortgage Rates Hit Highest Level Since 2008 Financial Crisis Read More »
In a meeting with some of the UK’s biggest mortgage lenders today Chancellor Kwasi Kwarteng pledged to work closely with the financial sector to provide the best value on mortgage rates as they continue to rise following his ‘fiscal event’. Over the past 24 hours the average 2 & 5 year fixed rate mortgages breached
Chancellor Pledges To Work Closely With Financial Sector On Mortgage Rates Read More »
Yesterday was an day like no other with the vast majority of mortgage lenders withdrawing products because of the increasing cost of money on the money markets (swap rates) following the Chancellors mini-budget last week in which he cut taxes and stamp duty. The negative effects of the mini budge are being met with a
Lenders Withdraw Products & Further Interest Rate Rises Predicted Read More »
