Mortgage rates have dropped in recent weeks, but brokers say this trend could now slow down

Mortgage price war slows as lenders’ outlook on rate cuts cools

EXCLUSIVE: The Conservative Party needs to get back to what it used to do and cut business taxes, a businessman has said.

Hunt urged to slash business tax as threat of Truss-backed Tory rebellion grows

Mortgage approvals for house purchases fell from 49,500 in July to 45,400 in August, the Bank of England reported.

Mortgage approvals slump to six-month low as interest rates scare off buyers

The latest inflation data will “signal” to the Bank of England to hold interest rates at their current level and “kickstart the property market”, according to one broker.

Latest inflation data is ‘signal’ to hold interest rates

The BoE is likely to pause on hiking interest rates further after Thursday’s decision.

Bank of England set for last interest rate hike but odds on pause rise

Brokers have suggested that the dire levels of housebuilding in the UK are down to a combination of factors including the attitude of the government, the plodding planning system and the buy-to-let sector at large.

Planning system, weak leadership and BTL to blame for housebuilding issues

Barratt sales fall | Man Utd shares slide | Beeks upbeat – Daily Business

In addition, the housebuilder’s adjusted profit before tax was also down, falling by 16.2% to £884.3m.

Barratt Developments sees annual completions fall by 3.9%

Brokers Issue Warning Over ‘Cut Price’ Housing Market

Gross mortgage lending declined from £20.4bn in June to £18.7bn in July as approvals for house purchase also fell.

Gross mortgage lending and purchase approvals fall in July

Net approvals for house purchases, a predictor for future borrowing, fell to 49,400 in July, down from 54,600 in June.

UK mortgage borrowing rises, but net approvals and gross lending decline in July, says Bank of England

It’s War! Lenders Battle for Market Share

Nationwide and Santander slash mortgage rates - ‘other lenders may follow’ - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting. A forum for discussion and debate of topics of the day. Subscribe for our free daily newsletter.

Nationwide and Santander slash mortgage rates - ‘other lenders may follow’

Brokers explain what they are seeing the market

Why will some home sellers not budge on price?

Rates have reduced by up to 0.20% across residential and buy-to-let products.

Santander announces further mortgage rate reductions

The UK’s top lenders have been cutting mortgage rates after they rose dramatically from May to July, with all of the “Big Six” having cut prices on multiple occasions

Santander cuts mortgage rates but experts warn price war may end soon

Santander has announced a further round of rate reductions of up to 0.20%, which will go live from Tuesday 22nd August.

Santander makes a further round of mortgage rate reductions

Having previously expected a profit of £73.7 million in June, the group now projects profits to come to just £50 million

Housebuilder Crest Nicholson warns on profits as mortgage rates soar for first-time buyers

Housebuilder Crest Nicholson warns on profits as first-time buyer mortgage rates soar

Intermediaries have welcomed the fact that business levels in August have been low, suggesting it offers a chance to recover from the “rollercoaster” of recent months ahead of the market kicking back into gear in the autumn.

Brokers welcome ‘dead’ August as chance to recharge before market returns

EXCLUSIVE: Businesses warn they are drowning in paperwork but have rejected the idea of rejoining the EU after Brexit.

British businesses back Brexit as they warn rejoining EU is a ‘joke’

Capital is most exposed to declining buying power, with warnings of more pain to come

London house prices fall for first time in four years

The UK’s employment rate for April to June 2023 was estimated at 75.7%, a decline of 0.1 percentage points from the first quarter of the year, according to newly released data.

UK employment rate drops slightly as unemployment rises to 4.2% in second quarter of 2023, ONS

Free UK news agency, Newspage, sought the views of financial services experts and business owners on whether Liz Truss’s headline policy of ultra-low corporation tax rates, like Ireland, could have benefitted the UK if the execution had been better.

“Trussonomics wasn’t entirely bonkers after all” - experts share their views

Scheme encouraged people to buy property now beyond their means, say critics

‘I have had clients in tears’: First-time buyers burned by Help to Buy

HSBC will cut rates on selected two-, three- and five-year fixed-rate residential loans for new borrowers from tomorrow (9 August). The bank says it will update the market on the scale of its reductions on Wednesday. An HSBC spokesperson says: “The changes are planned across the residential new…

HSBC and TSB to cut rates on new business resi loans

A mortgage and pension are the two biggest financial responsibilities a person will have — but which should you prioritise in a crisis?

Should I pay off my mortgage early or boost my pension?

There were hopes that the Bank of England (BoE) would pause its base rate hike cycle today, but the modest 0.25 per cent increase may suggest the run of monetary tightening is coming to an end.

Small increase to base rate may be sign of BoE running out of steam – industry reaction - Mortgage Solutions

The latest increase in interest rates by the Bank of England is “absolute lunacy”, Mather and Murray Financial independent financial adviser, Samuel Mather-Holgate has stated.

BoE’s 14th consecutive interest rate rise is ‘absolute lunacy’

An expert has slammed the Bank of England for raising the base interest rate to 5.25 percent saying bosses need to reverse the hike.

Interest rate hike branded ‘absolute lunacy’

EXCLUSIVE: Another interest rate rise from the Bank of England will spark a housing market meltdown, a finance expert has said.

House price meltdown warning ahead of Bank of England’s next interest rate move

HSBC has become the first high street lender to announce it will be reducing rates on a number of its fixed-rate products, after better than expected inflation data.

HSBC becomes first high street lender to reduce rates

Credit card spending rose year on year in April but the number of outstanding balances that were not cleared before interest accrued fell slightly.

Credit card spending rises year-on-year - Mortgage Solutions

The property market could tumble by up to 20 per cent, experts warn, unless the Bank of England halts interest rate rises

Is London heading for a house price apocalypse?

Coventry for Intermediaries is closing some BTL products as of 8pm tomorrow (18th July).

Coventry closes BTL products with 48 hours’ notice

Coventry for Intermediaries will be closing products at 8pm on Tuesday July 18, the lender has announced.

Coventry for Intermediaries announces imminent product closure

EXCLUSIVE: Borrowers in Britain and the US are suffering as mortgage rates climb and house prices fall.

Britons to suffer US-style crash as UK housing market ‘a total omnishambles’

Some experts suggest increases of 10% are likely - though others have forecast larger falls

How much house prices could drop by due to rising interest rates, according to experts

The publication of inflation data later this week will be a case of “sink or swim” for mortgage holders, Dimora Mortgages director, Jamie Lennox, has stated.

Upcoming inflation data ‘sink or swim’ for mortgage holders

TSB has upped rates across select mortgages within its residential, buy-to-let, product transfer and additional borrowing ranges.

TSB and Halifax increase rates – round-up - Mortgage Solutions

One mortgage broker called the latest increase from Halifax ‘brutal’

UK’s biggest mortgage lender Halifax among banks to hike rates as crisis continues

Brokers noted that rates are still available below 6% but predict rates to rise further.

Average five-year fix surpasses 6% - brokers react

At least a fifth of savers do not believe annuities offer good value, despite rates being at a near 14-year high, a survey has revealed.

Still unloved: Annuities struggle to shake off their inflexible reputation

The average rate for a five-year fixed mortgage has surpassed 6pc for the first time this year as Britain's property crisis deepens.

Five-year mortgage rates pass 6pc for first time this year - latest updates

Andrew Bailey has said pay cannot keep rising at its current pace if people want inflation and borrowing costs to fall after the Bank of England pushed interest rates to 5pc.

Bailey warns wage rises are ‘unsustainable’ as interest rates hit 5pc

A new survey of 2000 people, conducted by investment comparison site Investing Reviews, has revealed that 42% of Brits would prefer to leave the UK and live

“Geographic arbitrage increasingly common” as Brits plan to spend time abroad to reduce energy bills and cost of living

Many in the financial services industry are bracing themselves for the fallout from another interest rate hike.

“If rates are raised further on Thursday, the future is bleak”

Calls for intervention were made as the average two-year fixed-rate mortgage deal topped 6% for the first time this year.

Government urged to end ‘mortgage horror show’ as average two-year rate tops 6%

Average mortgage rates hit highest level since December, as asking prices for British homes fall in June for the first time in six years

Average two-year fixed rate mortgage deal hits 6% for first time this year, as Sunak rules out extra help – business live

Average rate on two-year fix rose from 5.72 per cent to 5.75 per cent on Tuesday

Mortgage mayhem: More lenders up interest rates on fixed deals

The triple lock may not be sustainable as state pension payments could become too much for the Government to pay, experts have exclusively told Express.co.uk.

State pension warning as triple lock slammed as ‘daft policy’

Buyers ‘spooked’ by threat of yet more interest rate rise pain on mortgages

House prices falling at their fastest rate in 14 years amid higher interest rates

Lenders stand ready to help anyone who might be concerned about their repayments, according to UK Finance, which released the figures

Spike in mortgage arrears and homes being repossessed as interest rates soar

Lenders stand ready to help anyone who might be concerned about their repayments, according to UK Finance, which released the figures.

Jump in mortgage arrears and homes being repossessed

NATIONWIDE today unveiled plans to return £340 million direct to members as new chief executive Debbie Crosbie pledged her commitment to the mutual status that has seen the group thrive.

Nationwide to hand back £100 to 3.4m members

Experts expect inflation to increase prices by more than 9% by 2027, and if the amount people earn matches, those currently earning as little as £46,000 could be dragged into the higher band.

Jobs that may be ripped into 40p tax band if wages rise with inflation

The launch by Skipton Building Society of a deposit-free mortgage, specifically aimed at renters has taken the headlines by storm.

Brokers call for more lender innovation after Skipton 100% mortgage launch

The latest figures from the Office for National Statistics (ONS) showed inflation still at 10.1 per cent in March after a surprise acceleration in February.

How UK inflation affects YOU: From mortgage rates to fuel costs

The FTSE 100 retail bellwether reported a 0.7% drop in full-price sales for the three months to the end of April, better than the 2% decline it had forecast.

Next keeps guidance despite smaller-than-feared dip in sales

We gathered commentary from experts and analysts to gauge their reaction and gain insight into how the future looks for the high street giant.

Industry reacts to NEXT results: “It’s doing everything investors could ask of it in a difficult retail environment”

Sunak is reportedly drawing up plans to bring back the Help to Buy Equity Loan scheme.

Sunak considering relaunching Help to Buy scheme - brokers react

Market conditions improving after prices fall for seven consecutive months, Nationwide says.

UK house prices in surprise rise in April, says Nationwide

Those in the mortgage advice space are split on the announcement this week that the government is considering a return of Help to Buy, but many have said reintroducing it would be a good thing - so long as the government makes some tweaks.

Brokers split on potential return of Help to Buy

With the vast majority of pay increases not keeping pace with inflation, two-thirds of workers are searching for a new job

Majority of people are looking for new work because their pay is not keeping pace with inflation

Jencap Partners says the number of mortgage complaints and claims will inevitably increase, regardless of whether they have any merit.

Brokers face increase in complaints over two-year fixes

Cardiff-based Jencap Partners has warned that ambulance chasers could start targeting brokers with claims regardless of merit.

Consultancy warns of rise in broker clients claiming they were misadvised

Experts slam the IMF for living in “cloud cuckoo land”

Will interest rates return to pre-pandemic levels?

Homeowners and first time buyers are concerned about whether mortgage rates will continue to rise as the base rate increases

What is going on with mortgage rates and what your strategy should be if you remortgage

Brokers, lawyers and IFAs have warned customers of “ambulance-chasing” companies promising sizeable stamp duty refunds on a no-win no-fee basis.

Customers warned of ‘ambulance-chasing’ firms promising stamp duty refunds

RICS data shows majority of homes are being sold below original listing price

Home offers under asking price – why they are still occuring

The IMF’s World Economic Outlook says rates are likely to head back to the historic lows if the country gets on top of inflation.

Interest rates to return to low levels once inflation calms, IMF

The announcement that Royal London is to buy Aegon UK’s individual protection book will come as a relief to most advisers, the mutual’s boss has said.

Royal London: Aegon protection sale will come as a relief to advisers

The financial services industry is responsible for the lack of trust it enjoys from clients, compared with the likes of Martin Lewis, brokers have suggested.

Public’s trust in Martin Lewis ‘an opportunity’ for advisers ‒ analysis

London buyers will be particularly vulnerable to a slump as interest rate rises on large loans push up mortgage payments

London house prices to ‘fall 10 per cent this year’ warns UK economist

Three-year fixed mortgages could be a good product for borrowers who feel alternatives are too long or short, but a lack of options and inconsistent pricing means they are often not chosen.

Three-year fixes are the ‘Goldilocks’ option but the product cupboard is bare – analysis

The Bank of England has increased the base rate for the 11th consecutive time

Bank of England’s rate increase is dangerous for the economy, expert claims

Homeowners remortgaging their properties are coming off cheap fixes onto pricey standard variable rates of up to 7.5% because of big delays - up to two years - at HM Land Registry (HMLR).

Borrowers stuck on 7% default rates as Land Registry backlog ‘beyond a joke’ - Your Money

With the latest UK inflation data published this morning showing an unexpected jump to 10.4% to the end of February from 10.1% in January, it will not only give

UK Inflation unexpectedly jumps to 10.4% in February - advisers and mortgage experts share their responses

Following the UBS acquisition of Credit Suisse, many are suggesting that the Bank of England may hold rates this week.

Credit Suisse acquisition by UBS “may be a saving grace for UK borrowers” -

Global markets opened lower this morning (March 20) as fears grow over the stability of the banking sector after UBS’s takeover of Credit Suisse was agreed.

UBS takeover of Credit Suisse spooks markets

Advisers expect interest in small self-administered pension schemes to boom among business owners following last week’s Spring Budget.

IFAs expect Ssas interest to boom following Spring Budget

Successive interest rate rises are increasing mortgage costs for millions of borrowers, according to both regulators, lenders and advisers. One of the

If you can’t afford your mortgage: What the FCA’s lender guidance means for borrowers

Does face-to-face interaction with an estate agent make a difference?

What is the future of online estate agents?

Brokers discussed what rate decision they believe the Bank of England will make.

Will the latest GDP data influence next week’s rate rise decision?

Brokers said that regulation and negative perceptions of the financial services industry are holding back the advice sector.

Over 50s trust Martin Lewis more than financial advisers - brokers react

Following the Halifax February House Price Index announcement, brokers, estate agents and property experts have shared their thoughts with IFA Magazine via Ne

Halifax February House Price Index - reaction from lenders, estate agents and brokers

Bank of England base rate – will it rise further?

New 3.95% fixed rate will require a 40% deposit

Virgin offers sub-4% five-year fix for new purchases

These brokers say they are focused on remortgages and product transfers for now

Four trends to prepare for in the intermediary business now

A look at whether MoneySavingExpert’s Martin Lewis should have advice permissions - with views from the adviser community.

Your views: should personal finance commentators like Martin Lewis have advice permissions?

The Office for National Statistics (ONS) has revealed that the Consumer Price Index (CPI) has fallen to 10.1% in the 12 months to January 2023, down from 10.5% in December last year.

Inflation drops to 10.1% and average house price hits £294,000 — industry reacts

Mortgage brokers have said a stamp duty rebate to help homeowners retrofit their properties to make green home improvements is a good idea in principle but in reality is unlikely to be successful

Brokers sceptical of calls for green stamp duty rebate

Expert said the Bank of England could have avoided drastic rate increases

Bank of England’s interest rate policy and what it got ‘wrong’

Monthly construction output is estimated to be flat in volume terms in December 2022, the latest figures from the Office for National Statistics. The flat volume came from a 0.5% increase in new work, offset by a 0.7% decrease in repair and maintenance on the month. At the sector level, the main pos…

Monthly construction output remains flat for December: ONS

Investors could diversify their portfolio amid high inflation and economic uncertainty by upping their exposure to peer-to-peer loans

Investors urged to diversify into P2P

London’s FTSE 100 index has set a fresh record after risk appetite was boosted by strong trading for US markets last night.

FTSE 100 Live: Blue-chip index sets new record, Barratt green shoots

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