Mortgage rates rocket but savings rates barely move after May’s inflation shock June 6, 2023 Mortgage rates have skyrocketed in recent weeks after the UK’s most recent inflation reading sent rate expectations soaring, but savings rates have lagged behind. According to data from Moneyfacts, rates on a two-year fixed rate have jumped from 5.34 per cent on 24 May to 5.75 today. Similarly, interest rates on a five-year fixed rate [...]
Average five-year fixed mortgage rate slides down towards six per cent mark September 27, 2023 The average five-year fixed-rate homeowner mortgage is edging closer to falling back below the six per cent mark, according to figures from a financial information website.
London sees 24 per cent drop in first-time buyers as high mortgage rates bite September 27, 2023 London experienced a 24 per cent decline in the number of first-time buyers entering the market in the last year as high mortgage rates crush home-ownership dreams.
Rightmove reports highest first-half revenue since 2018 despite mortgage market woes July 28, 2023 Online real estate company Rightmove clocked up its highest first-half revenue since 2018, it revealed on Friday, despite a troubled mortgage market putting pressure on house prices. The business said revenue was up 10% to £179.5 million in the six months to the end of June. Pre-tax profit rose 7.5% to £130 million. “The strength [...]
HSBC set to reduce fixed-rate deals as hopes rise that mortgage rates will start to fall July 25, 2023 HSBC became the first high street bank to announce they will be reducing rates on a swathe of their fixed-rate products, sparking hope that mortgage rates might begin to fall. Mortgage rates have spiralled in recent months as inflation has remained stubbornly above the Bank of England’s target. Traders are now betting that the Bank [...]
Nice one, son: MacIntyre to pay off parents’ mortgage after dad helps first PGA Tour win June 3, 2024 MacIntyre banked £1.33m for a victory aided by father, who he roped in to caddie at short notice.
‘Watershed moment’: Nationwide cuts mortgage rates to sub-five per cent – while arrears keep climbing November 9, 2023 Nationwide has launched the first two-year fixed mortgage below five per cent since June as lenders face pressure to offer better deals in a fiercely competitive market.
Brits untroubled by rising mortgage rates as property transactions rise December 21, 2022 Monthly property transactions have increased across the UK and returned to pre-pandemic levels despite the ongoing cost of living crisis. Today, HM Revenue and Customs (HMRC) published statistics indicating that monthly property transactions in the UK above £40,000 have increased consecutively over the past nine months. Frances McDonald, research analyst at Savills said: “In light [...]
Scottish Mortgage Investment Trust chair quits after boardroom bust-up March 21, 2023 The chair of the Scottish Mortgage Investment Trust has stepped down today after a public bust up with one of the firm’s directors over alleged “procedural violations” in its investment practice.
Roaring mortgage rates to keep a lid on housing demand as City eyes Bailey and Pill remarks June 26, 2023 Roaring mortgage rates in response to markets betting the Bank of England will have to send official borrowing costs to over six per cent are poised to have kept a lid on housing demand. Fresh figures out this Thursday from the Bank of England are expected to show the volume of mortgages approved in May [...]