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Average mortgage rates jumped 0.5 percentage points in one month, as interest on home loans reached highs not seen since the middle of 2010. According to Moneyfacts, five-year fixed-rate deals now average 3.89 percent, up 0.52 percentage points from June and the highest interest since November 2014. This means someone taking out a £300,000 mortgage … Read more

Economists have warned that house prices in Britain could fall by up to 10 per cent “soon” as rising interest rates cause property markets around the world to collapse. Rising borrowing costs, and more increases expected in the coming months, are fueling a “severe contraction” in housing markets across developed economies including the UK, according … Read more

Buying your first home is never easy, but over the past couple of years, those hoping to get a foot on the housing ladder have had a particularly tough time. During the early days of the pandemic, banks snapped “risky” low-deposit mortgages from the market, before reviving them months later at higher interest rates. As … Read more

Buy-now-pay-later lender Klarna has begun sharing its customers’ payment data with credit reference agencies, so lenders will now be able to see mortgage applicant history when reviewing an application. This could have serious ramifications for those who are looking to apply for a mortgage and have late payments on their Klarna account. Some other buy … Read more

Home prices continue to rise despite declining interest from buyers, Rics real estate agents say — but they expect the rate of sales to continue to slow Interest on new buyers fell for the third month in a row, falling by almost a third Experts say holding a general election will exacerbate the situation The … Read more

The number of people moved from homes fell by more than a third in the first half of this year, but the total number is still above pre-pandemic levels. According to Halifax, there was a 133 percent increase in home movers during the tax break, so the number is likely to drop this year. However, … Read more

Properties asking prices rise 9.3% to set another new record – as Rightmove revises 2022 forecasts amid home shortages Average asking prices rose 9.3% to £369,968 in July, down from 9.7% in June. Prices have now risen to a record high for six consecutive months Rightmove has revised its forecast for 2022, forecasting growth of … Read more

TSB faces £800m mortgage prisoners’ lawsuit from former Northern Rock borrowers tied up at ‘extremely high’ rates The bank is facing an £800m class action lawsuit from former Northern Rock clients About 200 people have joined the claim so far, but a law firm says 27,000 people may eventually be able to. They each claim … Read more

Home prices rose 12.8 percent in the year through May, up from 11.9 percent in April, marking the seventh consecutive month of increases, according to the National Bureau of Statistics’ real estate price index. The slight increase means the typical house price in Britain was £283,000 in May, or £32,000 more than at the same … Read more