Property tax threat is slowing down housing market, say UK agents
Talk of the chancellor looking at a new levy on expensive homes or removing CGT exemption is making buyers wary Speculation that the chancellor could announce new property taxes in her autumn budget is likely to slow down an already price-sensitive housing market,...
Bank of England cuts interest rates to 4% in slim 5-4 majority
The latest forecast from the Bank now shows inflation peaking at 4% in September, up from its previous prediction of 3.7% The Bank of England's Monetary Policy Committee has voted 5-4 to reduce Bank Rate by 25bps to 4%. The MPC last reduced Bank Rate by 0.25% to 4.25%...
Ultra-long mortgage overpayments key to FTB affordability: Moneyfacts
First-time buyers who struggle to afford a mortgage “can tap into the flexibility” offered by marathon terms to cut their mortgage costs, according to Moneyfacts data. Mortgage borrowers could save £255 per month by choosing a 40-year term, compared to a 25-year term...
Bank of England cuts interest rate to 4.25%
The Bank of England has cut the base rate by a widely expected 0.25% to 4.25%. The rate-setting Monetary Policy Committee voted in a 5 to 4 split in favour of reducing the rate, which affects a wide range of consumer loan agreements from credit card to mortgage...
Interest rates could fall more quickly, hints Bank
The Bank of England could cut interest rates more quickly if price rises remain under control, its governor has suggested. Andrew Bailey told the Guardian that the Bank could be a “bit more aggressive” at cutting borrowing costs, depending on the rate of inflation....
Inflation drop could pave way for lower mortgage rates – Rightmove
The inflation rate falling to the Bank of England’s 2% target in May could result in reduced mortgage pricing later this year, Rightmove has speculated. The figures published today showed that the Consumer Prices Index (CPI) measure of inflation was finally under...
HSBC, NatWest and Virgin Money changing interest rates
More mortgage providers will increase their rates on new fixed deals on Friday following a series of changes since the start of the year. January saw lenders cutting their rates sharply, bringing some relief to 1.6 million people set to remortgage this year. But...
UK inflation rate drops again
Are base rate decreases coming soon? The annual inflation rate in the UK continued to fall in November, dropping to 3.9% from last month’s 4.6%. The latest consumer price inflation (CPI) data published by the Office for National Statistics (ONS) on Wednesday also...
Bank raises base rate to 5.25%
Bank raises base rate to 5% The Bank of England (BoE) has increased the base rate by 50 basis points to 5.25% — its 13th consecutive rise. This is the biggest rise since February, and follows two monthly increases of just 25 basis points. The BoE’s Monetary Policy...
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Bank of England base rate expected to hit 4.5 per cent next week
Experts expect that the Bank of England (BoE) base rate will rise 0.25 per cent next week to 4.5 per cent. This will be the 12th consecutive month in a row that the base rate has risen as the Bank of England has faced months of inflation above 10 per cent and a...
Bank rate to fall ‘further and faster’ than expected in 2024
The Bank of England’s base rate will be held up next year despite falling inflation, followed by a steeper than expected decline as economic pressures ease. In its economic outlook, Capital Economics predicted that a drop in inflation would not immediately result in a...
31% of properties receive offer within one hour of viewing
According to data from the past five years, nearly one in five properties (17%) received an offer within one hour of a viewing, with one in 14 buyers (7%) making an offer on a house without even visiting it. This trend is far more common in 2022 as 31% of properties...
Government Mini-Budget Special
The Chancellor plans to cut income tax and stamp duty in order to boost growth.
In last week’s mini-budget, Chancellor Kwasi Kwarteng announced a series of measures designed to stimulate economic growth. Among these are tax breaks for businesses and increased government spending on infrastructure projects. The Chancellor is confident that these steps will lead to a more prosperous future for the country. We have outlined a summary of the outcomes of the budget.
BoE hikes base rate by 50bps to 2.25 per cent
The Bank of England has unveiled a 50 basis point (bps) rise in the base rate, bringing it up to 2.25 per cent. The Bank of England’s Monetary Policy Committee (MPC) has announced a 50 bps increase in the base rate as it attempts to deal with spiralling inflation and...
