The Bank of England has reduced interest rates for the second time this year, bringing them down to 4.75% as anticipated. Previously set at 5% following a 0.25% reduction in August (the first since 2020), rates were held steady in September. Bank of England Governor Andrew Bailey reassured the public,…
Read MoreExperts anticipate that interest rates will be cut, despite Rachel Reeves’s October Budget likely adding to inflation. The Bank of England’s Monetary Policy Committee (MPC) is expected to reduce the interest rate from 5% to 4.75% this Thursday. The Bank had previously lowered rates from a 16-year high of 5.25%…
Read MoreThe recent Budget has had a notable impact on the housing market, particularly for landlords and potential homebuyers. Here are some key changes and their effects: In summary, the Budget introduced cost increases for buy-to-let investors without providing substantial reliefs for buyers, potentially leading to increased rent prices, limited supply…
Read MoreBank of England Governor Andrew Bailey has signalled that further interest rate cuts could be on the table, provided inflation stays under control. Bailey indicated that the Bank might adopt a “somewhat more aggressive” approach to the base interest rate in the coming months. In an interview with The Guardian,…
Read MoreThe Bank of England (BoE) has announced it will lower the Base Rate to 5% this month, marking a 0.25% reduction and the first cut in four years. The Base Rate had been steady at 5.25% since August 2023, following 14 consecutive increases. The Bank had been raising and maintaining…
Read MoreFor those contemplating purchasing a home, the current mortgage rates in the UK are a pertinent consideration. Mortgage lenders regularly adjust the rates of their products. Consequently, we provide weekly updates on average mortgage rates, allowing for easy comparison with the previous week’s figures. Moreover, you can assess rates across…
Read MoreAverage mortgage rates have been steadily decreasing since July, providing a more stable and predictable environment for homebuyers compared to the volatility of the previous year’s mortgage market. Currently, the average two-year fixed rate stands at 5.52%, and the average five-year rate is 5.11%. Despite the improved outlook for mortgage…
Read MoreThe year has exceeded expectations, with sellers adopting more competitive pricing strategies. The average property asking price is now £362,143 and the average rent £1,231 PCM The current year is surpassing expectations, with sellers adopting more competitive pricing strategies. This month, average new seller asking prices have decreased by 1.7%…
Read MoreThe UK’s average house prices broke a streak of six consecutive monthly declines in October, witnessing an increase of nearly £3,000 compared to September’s values, as the cost of a typical home rose. The latest data unveiled by Halifax has reported an unexpected surge in average housing prices for the…
Read MoreIn the latest survey by Landbay, 32% of buy-to-let landlords participating in the study expressed their intention to purchase property within the next year. In spite of consistently elevated interest rates and an atmosphere of uncertainty regarding the government’s long-term intentions for the rental sector, Landbay’s most recent survey reveals…
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