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Recent data has highlighted the negative impact of pricing your home too high. It can be tempting to put your property up for a high price, with a view to reducing it further down the line. But the reality is, cutting the asking price of a property comes at a cost....
Market experts have predicted that mortgage rates of 4.5% will be the ‘new normal’ in the UK. In August 2023, Bank Rate reached a 16-year high of 5.25%, causing the cost of borrowing to increase. Many hoped this was a one-off spike, but the CEO of Lloyds Banking Group...
Cuts to Bank Rate may be expected to ease some short-term financial pressure this year, but a report from the Bank of England suggests that mortgage payments are likely to rise for around three million households by 2026. Prepare for an increase The Bank observed,...
In August, the Bank of England (BoE) cut Bank Rate for the first time since March 2020. But what does this much awaited reduction mean for the housing and mortgage markets? Bank Rate Bank Rate is the interest rate that the BoE pays to commercial banks who hold money...
Following Labour’s landslide election win, much of the nation is waiting to find out what is in store for the UK housing market. Many major policy changes will be announced in the Autumn Budget on 30 October, but Housing Secretary Angela Rayner has already announced...