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UK rents rise by nearly 5% over the past year
What rising rental costs mean if you’re a tenant – and why a mortgage might not be as far from your reach as you think. According to the latest Goodlord Rental Index, UK rents have risen by 4.9% over the past 12 months, taking the average monthly rent up from £1,507 a...
House prices hold steady despite higher interest rates
The average UK property price remained unchanged in September, following a 0.3% dip in August, while annual growth also remained flat. House prices remained unchanged in September (0.0%), following a slight dip of 0.3% in August, according to the latest Lloyds House...
Average five-year fixed mortgage rate reaches 6%
Mortgage rates have risen sharply, with the average five-year fixed rate reaching 6% for the first time in three years. If your deal ends in the next six months, it’s important to act early. The average five-year fixed mortgage rate has climbed to 6%, its highest...
Gap between house prices and earnings narrows
The UK’s house price-to-income ratio has fallen to an 11-year low. However, higher income rates and saving for a deposit still remain big hurdles for many. The average UK home now costs the equivalent of 7.3 times average earnings, down from 7.6 a year ago, according...
The true cost of buying a bigger home
Homeowners in Surrey could face average buying and selling costs of more than £24,000 when moving to a larger property – considerably higher than the national average of £15,513. Moving to a bigger home may seem like an exciting next step, especially if you need more...
New ‘Your First Home’ scheme to help first-time buyers
A proposed government scheme could make it easier for first-time buyers in England to purchase a new-build home with a much smaller deposit. The government has announced plans for a new equity loan scheme called Your First Home, aimed at buyers who can afford monthly...
Single women driving growth in UK equity release market
The government has been warned that urgent action is needed to ensure housing wealth becomes a recognised part of mainstream retirement planning, with single women most likely to have smaller pensions. A new report published by UK consumer group Fairer Finance has...
Bank of England holds base rate at 3.75%
The Bank of England has kept the base rate the same, but rising inflation and higher lender rates continue to create uncertainty for borrowers. If your mortgage deal ends within the next six to nine months, now could be a good time to review your options. The Bank of...
UK inflation rises to 3.1% as households face higher costs
August’s inflation rise has been driven largely by higher fuel prices and airfares. With household bills also expected to increase, borrowers due to remortgage may benefit from seeking advice early. Headline inflation rose to 3.1% in August, up from 2.9% in July,...
Stamp duty deters millions from buying a home
New research reveals stamp duty is not only suppressing transactions but is also costing the economy billions. Some 29 per cent of adults in the UK have seriously considered moving house in the past year – a figure that rises to 49 per cent among renters hoping to...