UK Mortgage & Property Related News
Mortgage lenders are cutting rates despite the Bank of England decision yesterday to hold the base interest rate at 5%.
The Bank’s Monetary Policy Committee voted by a majority of 8–1 to maintain the rate at 5% after making a cut of 0.25% last month.
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The Bank of England has kept interest rates on hold at 5%, but a further cut is expected later in the year.
Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK.
The first drop in rates for more than four years came in August, but borrowing costs remain high.
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Interest rates are “now gradually on the path down”, the Bank of England governor has said after borrowing costs were held at 5%.
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Fixed-rate mortgage deals have gotten cheaper in recent weeks – and brokers say rates could still come down a bit more, despite the Bank of England’s decision to hold the base rate at 5%. So what, if anything, should you do about it?
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The huge imbalance between supply and demand in the private rental sector will continue into 2025, says Zoopla.
It says that the demand for rented housing has slowed as one -ff pandemic factors start to fade and lower mortgage rates help some renters buy their first home.
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Santander UK has identified the top rising neighbourhoods that first-time buyers are choosing to purchase in, as moving further away from family, friends and familiar places to get onto the property ladder becomes more common.
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Legal concerns continue to mount following the launch of Labour’s Renters Rights Bill, with growing worries about how the court system will cope.
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Private rental sector reforms ‘could lead to Airbnb Lite’, says landlords’ association before plan unveiled in parliament
Landlords are warning they may raise asking rents in high demand areas if long-awaited reforms unveiled in parliament on Wednesday turn parts of the private rented sector into “Airbnb Lite”.
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Landlords in England will be banned from renting out their properties for more than the advertised price under reforms set out by the government on Wednesday, as ministers seek to stop expensive bidding wars.
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I’m on a Natwest tracker mortgage but can switch to a new deal.
I owe £31,000 to be repaid over the next five years and 10 months. It’s 6.04 per cent but will come down after the latest base rate cut from the Bank of England.
I earn £3,000 a month so have been making massive overpayment. Would I be better off staying on a tracker or fixing?
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