Mortgage approvals fell to their lowest level in two years as interest rate rises put off buyers, new Bank of England figures suggest.
HOUSING NEWS
Low-deposit mortgage scheme extended for a year…
A mortgage guarantee scheme to help people get on the property ladder is to be extended by a year.
Move to the country property trend fading – Zoopla…
Property prices in areas of the Yorkshire Dales, the Derbyshire Dales, North Norfolk, and the Cotswolds all shot up. In recent months, the partial return to the office and the soaring cost of living caused the picture to change for many people. Chris Druce, senior research analyst at estate agent Knight Frank, said: “After a […]
Low-deposit mortgage scheme extended for a year…
A mortgage guarantee scheme to help people get on the property ladder is to be extended by a year.
House prices drop by 2.3% in a month says the Halifax…
UK house prices saw their biggest drop in 14 years in November, falling 2.3%, reflecting “volatility” in the market, according to mortgage lender Halifax. November marks the third month in a row during which prices have fallen with potential buyers playing safe by delaying purchases. The average UK house price in November was £285,579. Higher […]
People warned not to use ‘cowboy’ foam insulation firms…
People are putting their homes at risk by using rogue companies that offer spray foam insulation, according to one of the UK’s largest mortgage providers. Nationwide Building Society says thousands of pounds worth of damage can be caused if it is wrongly installed. The lender says it expects enquiries about spray foam to “skyrocket” as […]
UK house prices forecast to fall for the next two years…
UK house prices will fall for the next two years before starting to rise again, according to the government’s official forecaster. A drop of 9% is expected between now and autumn 2024, the Office for Budget Responsibility (OBR) has said. That will be a relief to some potential first-time buyers following a period of sharp […]
Persimmon reports sales and price fall as property market dips…
Sales and prices of new-build houses have fallen and cancellation rates have risen in recent weeks at Persimmon, in further evidence the property market is entering a downturn. The company, one of Britain’s biggest housebuilders, said demand had waned and uncertainty had risen in the past six weeks, as rising mortgage costs and a looming […]
House prices: What happens when they fall???
The Bank of England has increased interest rates to 3%, which will feed through into higher mortgage costs. Before the latest rate rise, some lenders were reporting house price falls. But is this just a blip or the start of a bigger drop? What happens when house prices fall? Falling house prices have the biggest […]
Lloyds predicts UK house prices will fall 8% next year…
UK house prices will fall by 8% next year and then almost stagnate for the following four years, Lloyds Banking Group has predicted. The UK’s biggest mortgage lender, which runs the Halifax brand, gave a gloomy outlook for the UK economy. It has set aside £668m to cover bad debts as rising interest rates make […]
