‘This is just ruinous’: the Britons unable to afford their homes
Millions are finding themselves priced out of renting and buying amid high inflation and mortgage rates Out of reach? The tool that shows where you can afford to buy or rent in Great Britain The cost of living crisis, spiralling mortgage rates and soaring rents have exacerbated property shortages in Britain to the extent that […]
Economic growth to pick up but risks to recovery ‘elevated’, say UK forecasts
Households and firms can expect more financial pain despite Britain dodging technical recession, says KPMG Britain will be left with deep scars from the pandemic despite narrowly escaping a second recession within three years and growing signs of an economic pick up, according to new forecasts. A new report by the accountancy firm KPMG has […]
Mortgage turbulence continues as HSBC pulls deals and Nationwide raises rates – business live
HSBC temporarily removes mortgage products for new customers, as borrowers face higher rates HSBC temporarily withdraws mortgage deals for new borrowers The UK’s cost of living crisis has driven down sales on the high streets, which turned negative for the first time in more than two years Total like-for-like retail sales, combining in-store and online, […]
Homes for sale near festivals – in pictures
From a restored old coach works in London to an 18th-century paper mill in the Lake District Continue reading…
‘It would really help us’: renters in the UK who want a 100% mortgage
No-deposit loan presents possible route out of rental trap to those deemed eligible When Skipton, one of Britain’s biggest building societies, launched the UK’s first 100% mortgage exclusively for renters last month, reactions varied wildly. While some commentators regard the first-of-its-kind home loan as a “revolutionary” way to get people out of the rental trap […]
UK house prices experience annual fall for first time in decade, data shows
Price of average home in May was 1% lower than in same month last year, according to Halifax figures UK house prices have experienced their first annual fall in more than a decade, according to Halifax, in a sign that the impact of soaring interest rates on household budgets has brought a halt to the […]
Housebuilders cut back on construction as UK mortgage rate rises spook buyers
Work on residential building sites slips in May to weakest level since 2009 UK banks pull hundreds more mortgage deals as fixed rates rise Britain’s housebuilders are cutting back on the construction of new homes amid signs that potential buyers are being spooked by the prospect of increases in mortgage rates over the coming months. […]
UK banks pull hundreds more home loan deals as fixed mortgage rates rise
Mortgage market turmoil prompts record numbers of people to take out loans of more than 35 years Hundreds more home loan deals have been pulled by banks and building societies since the end of last week while rates on new fixed mortgage deals are continuing to ratchet upwards, the latest data reveals. The continuing turmoil […]
Mortgages: UK lenders continue to raise rates and pull deals
Record 19% of all loans taken out by first-time buyers in March were for 35 years or longer Business live – latest updates Mortgage market misery has stepped up for homebuyers as lenders continue to increase borrowing rates and pull deals, prompting record numbers to take out loans of more than 35 years in an […]
We can’t get a mortgage to help us buy a listed property. Should we find another way?
The seller failed to get conversion warranty but bought retrospective one, while broker suggested secured loan to us Q My husband and I have recently sold our first home in the south-east and now have £300,000 in our bank account. We would like to buy a beautiful property farther north for the agreed price of […]