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Good news for borrowers as base rate avoids increase.
Thursday, September 21, 2023
News today that the base interest rate is to remain at 5.25% will be good news for prospective homebuyers and for those with mortgages whose rates are not fixed. Today’s decision not to increase the base interest rate was prompted by a fall in inflation from 6.8% in July to 6.7%. However, even before today’s announcement, several high street lenders had been reducing rates on both residential and Buy To Let mortgage products, following a recent steady decline in swap rates and the need to remain competitive within the mortgage market.
Rates cut and fall-throughs down as market shows resilience
Thursday, August 24, 2023
TwentyCi, which analyses 99.6% of all UK sale and rental moves, provides a comprehensive review of the UK property market. Its Q2 Property & Homemover Report shows a UK housing market which is holding up well despite some tough economic conditions. According to the latest market update, there are ‘no signs of a housing market crash,’ based on Q2 sale volumes and a significant 70% of all properties listed being sold thus far in 2023.
Summer Living
Wednesday, August 9, 2023
Although it may not feel like it at times, Summer is here! And if you haven’t done so already, now’s the time to transform your outdoor space ready for some late summer sunshine. Instant changes are well worth making even if you’re thinking of moving. Whether you are getting your property ready to sell or are renting a property you can make stunning changes that are inexpensive or that you can take with you when you move. Here’s some inspiration to suit all budgets and ideas that you can tailor to your specific needs.
Buyer confidence remains high
Monday, July 24, 2023
Buyer confidence remains high with 73% confident that they will purchase in the next three months as long as the price is right, according to the latest OnTheMarket Property Sentiment Index. Jason Tebb, CEO of OnTheMarket, said buyer and seller sentiment was not shaken during May, despite interest rate rises and mortgage product availability and suggested that the softening of house prices in some areas was the reason for both buyer and seller confidence. “There’s more choice of stock than has been the case for a while and if you can afford to buy, now is a great time to make a move. Although some buyers will inevitably be worried about higher mortgage rates, there seems to be a growing realisation of the need to adapt to a new, elevated level of pricing, in place of the unsustainable rock-bottom rates of the past.”
Update for Landlords
Tuesday, June 13, 2023
The lettings market in our network area remains extremely buoyant with the number of prospective tenants far outnumbering the properties that are available. We have seen 10-15% increases in rents over the last 12 months and rents are still increasing, although at a slower rate due to affordability as many tenants cannot afford “out of kilter” rent increases on top of the current cost of living crisis.
A fabulous, festive weekend
Thursday, May 4, 2023
This weekend promises to be full of pageantry and celebration for the coronation of His Majesty King Charles III and whatever the weather, there’s sure to be an event nearby for you to join in the festivities.
