LATEST NEWS
Mortgage interest rates are dropping
The property market will benefit from interest rates going down, and rates are expected to keep falling. Good news for anyone looking to buy their first home, move house or remortgage this year – mortgage interest rates are dropping. Rates went up after the...
Asking prices go up in January
The new year has started on a good note as asking prices in January have gone up, and monthly mortgage payments are starting to come down. Asking prices for properties have increased by an average of 0.9% in January, according to Rightmove. Despite recent house price...
Divorce rates go up in January
January has been dubbed ‘Divorce Month’, and older people, in particular, are not settling with their long-term partners if they’re unhappy. Divorce applications in the UK recently reached their highest level in a decade. The no fault divorce law came into force in...
House prices fell slightly in December
Prices dipped but still remain above pre-pandemic levels, according to Halifax. Find out what the lender thinks 2023 will have in store for the property market. House prices in the UK fell by 1.5% in December compared to 2.4% in November, according to Halifax’s latest...
Demand for rural properties slows
Zoopla’s UK House Price Index, published earlier this month, reveals that more people will be heading back to urban areas, and flats will see an increased demand in 2023. House prices increased by 7.2% in 2022, according to property website Zoopla (an increase of...
House prices expected to drop in 2023
Halifax is expecting property prices to drop in the new year but says the price rises during the pandemic were some of the biggest the market has ever seen. The lender predicts that UK house prices will fall next year by around 8%. However, it says that forecast...
Bank of England base rate goes up to 3.5%
The Bank of England has just announced a base rate increase from 3% to 3.5%. The rate increased from 2.25% to 3% last month and has consistently risen in the last year. The base rate has increased again – this time from 3% to 3.5%. The base rate is the interest rate...
Struggling homeowners could switch to interest only mortgages
A solution for anyone worried about rising mortgage rates when their fixed-rate deal expires could be to switch to an interest only mortgage. Do you have a fixed-rate rate mortgage deal due to end next year? You might be worried about your ability to keep up...
House prices fall in November
Halifax’s latest House Price Index shows a price drop in November, but the lender points out that the last few years have recorded some of the biggest price increases we’ve ever seen. House prices fell by -2.3% in November compared to -0.4% in October, according to...
Update on the Help to Buy: Equity Loan scheme
The government’s equity loan scheme on new build homes has now closed for applications, but if you applied before the end of October, you may still be eligible for the loan. We explain the terms and conditions that remain in place until next March. The government’s...