House prices rose 10.3% in November but fell month on month for first time since 2021

House price inflation at 10.3% is still in double digits, official figures show, but property values fell for first month since October 2021 The average UK house price is now £295,000 according to the ONS Properties added  £28,000 over the 12 months to November 2022 Mortgage rates soared in October but many think the worst is … Read more

UK mortgage borrowing down £2bn in October, BoE says

Britons are increasingly putting their home buying or moving plans on hold and stashing their cash in fixed term savings as the cost of living crisis bites, new data has revealed. Net mortgage borrowing by individuals fell from £5.9billion in September to £4billion in October, according to the latest Bank of England figures. Mortgage approvals … Read more

A million first-time buyers delay house purchases due to mortgage rates and cost of living

The cost-of-living crisis has forced more than a million hopeful first time buyers under 45 years old to put their plans on hold, a new survey by Aviva has found. One in five of those surveyed said that the cost-of-living crisis and inflation were making buying a house unaffordable. The survey, focused on under 45s … Read more

House prices increased £26k in year to June but growth is now slowing, says Nationwide

Typical home added £26k in value in the last year with the South West seeing strong growth but prices are now slowing slightly, Nationwide says Year-on-year price growth slowed to 10.7% in June, down from 11.2% in May South West overtook Wales as strongest performing region with 14.7% rise Average UK house price now stands … Read more

Why paying thousands to escape your mortgage could save you money

Homeowners are paying hefty fees to exit fixed mortgage deals early before interest rates rise. It may sound counter-intuitive to try to cut bills by spending more. But it could be prudent if interest rates keep climbing as expected. Mortgage costs have increased rapidly, bringing the era of ultra-cheap borrowing to an end. Rising bills: … Read more