In a Hertfordshire town, buyers, sellers and estate agents tell of the effects of Kwarteng’s mini-budget.
Read More‘Kicking Myself I Didn’t Move Faster’: Fear and Panic Grips Housing Market
Category: Real Estate
UK House Prices Expected To Fall as Mortgage Rates Soar
Increasing mortgage costs and the wider cost of living crisis will place downward pressure on UK home prices over the next few months, according to Halifax.
Read MoreUK House Prices Flatlining As Mortgage Rates Rise, Says Nationwide
Lenders began suspending products after the chancellor’s sweeping tax-cutting plans triggered a sell-off in financial markets and raised expectations for higher interest rates. The volatility made it increasingly difficult for lenders to price deals.
Read MoreLandlords have been treated unfairly, Truss tells Beadle
“That’s a marked change from what we have seen for these past years and we shall be pushing hard to make sure that translates into more appropriate policies.” – Mr Beadle.
Read MoreBTL accounted for 40% of criteria changes in July: Knowledge Bank
The residential sector was in at second place with 30% of the month’s changes followed by bridging with 23%.
The most searched-for criteria within the BTL sector was once again lending to limited companies followed closely by brokers searching for lenders who would accept first-time landlords.
Read MoreProperty Market Still Booming: GetAgent
The pandemic property market boom shows little sign of slowing despite a string of interest rates adding to an uncertain economic outlook.
It currently takes the average UK seller 97 days from the point they first list their home for sale until they find a buyer and the property is marked as sold subject to contract.
Read MoreBarclays Raises Resi and BTL Rates By Up To 28bps
Barclays has lifted rates by up to 28 basis points across a selected range of residential purchase, remortgage and buy-to-let products.
Among the lender’s residential purchase loans, a five-year fixed-rate 90% loan-to-value offer increases by 26bps to 3.89%, with a £999 product fee.
Read MoreBuy-to-let Watch: Taking a greater interest in HMOs
When it comes to our homes, the flight to quality has always been evident but this has become especially apparent following a period in history when we all spent more time than ever within our own four walls.
This has led to a raft of home improvements, innovative spaces opened up for home offices and a general focus on better utilising the rooms we have.
Read More