First-time buyers are being urged to save ‘that little bit extra’ for a deposit as analysis showed there was tough competition for the homes in their price range.
Read MoreAdvice for first-time buyers facing ‘stiff competition’ for homes
Tag: interest rates
Mortgage price wars heat up as five major lenders cut interest rates after Bank of England decision
Yorkshire Building Society, Halifax, Santander, and Virgin Money have all unveiled rate cuts across their product ranges.
Read MoreInterest rates: What does a 0.25% cut mean for your mortgage, savings and bills?
The Bank of England (BoE) have today announced their base rate is to be cut 25 basis points, leaving the Bank Rate – what we might simply call the interest rate – at 4.5 per cent, the lowest it has been in the UK since mid-June 2023.
Read MoreAverage rents drop for first time since 2019 – what does it mean for buy-to-let landlords?
The rental market is starting to cool, with more supply and less demand, says Rightmove.
Read MoreBest mortgage rates February 2025
Find out the best rates in February for first-time buyers, home movers and remortgagers, plus what to look for when comparing deals
Read MoreBuy to let mortgage possessions rocket by 73%
The latest quarterly update from UK Finance reveals there were 710 buy to let mortgage possessions in the third quarter of last year.
Read MoreBritain’s biggest mortgage lender expects three interest rate cuts this year
The boss of Britain’s biggest mortgage lender has told Sky News he expects three interest rate cuts this year, bringing some relief to borrowers and mortgage holders.
Read MoreWill UK Mortgages Get Cheaper in 2025?
Earlier this week we published an outlook for UK house prices. Now we look at mortgages, a key driver of housing market activity. Without the £1.7 trillion of mortgage finance, the whole ecosystem can’t function effectively. And that financing suddenly got more expensive in 2022 after a rapid increase in interest rates. While mortgage rates started to fall in 2024, there are some risks to the narrative that affordability will improve significantly this year. A surprise curveball has come from the UK government bond market in recent weeks.
Read MoreMortgage market set for a rebound in 2025
The UK mortgage market is poised for growth in 2025, with lending activity expected to rebound amid improving economic conditions and stabilising interest rates.
According to the latest report from the Intermediary Mortgage Lenders Association (IMLA), gross mortgage lending is projected to increase by 16% to £275 billion, up from £237.5 billion in 2024. This growth is attributed to easing affordability pressures and greater demand for remortgaging as rates settle between 3% and 4%.
Read MoreHomeowners in the North hardest hit by higher mortgage costs with number in arrears rising
Homeowners in parts of Northern England are more than twice as likely to be behind on their mortgage repayments as those in the south, new research has revealed.
Read More