The 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…
Read MoreFleet Mortgages’ Latest Market Analysis Shows Third Consecutive Quarterly Rise in Annual Rental Yields Specialist buy-to-let lender, Fleet Mortgages, has unveiled the most recent edition of its Buy-to-Let Rental Barometer, which presents rental yield data for Q3 2023 across England and Wales, comparing it to the same period in 2022….
Read MoreRising levels of homes hitting the market have compelled sellers to price their properties more competitively. This shift has led to the typical seasonal increase in asking prices for October dropping to its lowest point since 2008. While September saw a modest 0.2% uptick in asking prices, it serves as…
Read MoreAugust witnessed a rise in the average number of potential tenants registering for rental properties, with 197 registrations compared to the 149 recorded in July. Simultaneously, the supply of available rental properties per member branch dwindled, averaging just 11. Furthermore, 69% of agents participating in the survey reported an increase…
Read MoreThe Monetary Policy Committee of the Bank of England has voted narrowly, with a 5-4 split decision, to maintain the Bank Rate at its current level of 5.25%. This decision comes after a staggering 14 consecutive rate increases aimed at curbing inflation. The financial industry had been in a state…
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