HOUSING NEWS

Mortgage rates see biggest spike since start of Iran conflict as five lenders put up prices

A million more homeowners face higher mortgage bills than the Bank of England had previously expected due to the impact of the Iran war.

Home buyers and sellers can expect an end to “gazumping” in a major shake-up aimed at speeding up housing sales.

House prices will fall by two per cent this year – the most since the financial crisis…

More than half of UK house moves fall through after an offer has been accepted, costing the UK £2bn every year in wasted time and fees. Failed house moves could cost the economy £1.97bn per year because around 1.2m residential transactions occur each year and the average fall-through costs buyers and sellers £2,830 in legal […]

House prices remain almost at a standstill, according to latest figures from Halifax. The average property price is now £299,313, compared to £297,781 this time last year, a 0.4 per cent annual increase. It means the typical home is worth little more than four years ago. In summer 2022, the average property value remained just […]

A government loan scheme for first-time home buyers in England mostly helped higher earners in areas where homes are cheaper, a major think tank has said.

The UK’s housing market is likely to soften as households face rising mortgage and energy costs due to the impact of the Iran war, Nationwide has said.

The average age of a first-time buyer in England has climbed to 34, with new research showing the growing difficulty of getting on the housing ladder.

UK lenders have begun raising mortgage interest rates as the ongoing conflict in the Middle East has raised fears that inflation will rise and curb further Bank of England rate cuts.