House prices fall for second month in a row, according to official figures with London leading the drop

House prices fell for the second month in a row in October, according to official figures. House prices fell 1.2 per cent in the 12 months to October, the latest data from the Office for National Statistics (ONS) shows.  It means the average UK home was worth £288,000, which was £3,000 lower than 12 months … Read more

Fixed-rate mortgages could fall below 4% within weeks amid a price war, experts say

By Adele Cooke and John-Paul Ford Rojas Updated: 08:53 GMT, 15 December 2023 Homeowners can look forward to fixed-rate loans falling below 4 per cent within weeks amid a mortgage price war, experts said yesterday. TSB has slashed the cost of its home loans by up to 0.35 percentage points from today. The move follows … Read more

Five million mortgage borrowers face their monthly repayments rising by £240, the Bank of England warns

Five million mortgage borrowers face a typical £240 increase in their monthly repayments over the next three years, the Bank of England has warned. And for around 900,000 home owners the increase will be £500 or more, according to the Bank’s twice-yearly Financial Stability Report. The report highlighted that while households had so far proved … Read more

Happy 35th birthday to fixed rate mortgages! Here’s how property and home loans have changed since 1988

When it comes to famous anniversaries, the introduction of the fixed rate mortgage is unlikely to be one that most people are keeping tabs on. But Britons have adopted them in their droves since the first fixed rate mortgage was introduced 35 years ago and they are now the product of choice for the majority … Read more

Santander cuts its mortgage rates: Lender now offers three best buy deals for home movers

Santander has cut rates by between 0.05 and 0.56 percentage points  The rate changes include several new best buys for homebuyers Its cheapest five-year fix now charges 4.64% with a £999 arrangement fee By Ed Magnus Updated: 15:00 BST, 24 October 2023 Santander has become the latest lender to slash rates on its mortgages. From … Read more

Nationwide cuts mortgage rates again, offering two best-buy deals under 5%

Nationwide Building Society is reducing rates across the majority of its fixed mortgages by up to 0.45 percentage points, from tomorrow. Its latest cuts will result in two new best buys, available to those who are moving home and switching from another lender to Nationwide.  Nationwide’s cheapest five-year fix has fallen by 0.2 percentage points … Read more

Home buyers get 4% discount on asking price worth £12k, Zoopla says

UK property prices slipped by 0.5 per cent in the past year, marking the first time in a decade they have fallen, according to Zoopla.  Buyers are also taking advantage of the current market and seeking further discounts, the property portal’s latest house price index said.  They are getting an average of £12,125, or 4 … Read more