Occasionally Mortgage Shop's comments are featured in the press, here you will find some examples of news stories that we have appeared in from Mortgage And Property Investment Magazine
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Today’s announcement from the Bank of England that UK base rates are to increase by 0.25% from the previous rate of 4.25% to a new rate of 4.5%, must hardly come as a surprise. Today’s move signals the twelfth consecutive time since December 2021 that the Bank’s Monetary Policy Committee (MPC) has hiked bank rate to the highest level since 2008. It focuses on the Bank’s aim of reducing inflation back towards it’s 2% target, however the impact on house owners and mortgages is set to add to the pain that the cost of living crisis is already delivering for millions of Brits. Mortgage, property and other finance experts have been sharing their views on what the latest hike means for property markets and borrowers with IFA Magazine as follows: https://ifamagazine.com/article/mortgage-and-property-experts-comment-as-bank-of-england-hikes-base-rate-to-4-5/
According to Rightmove, the average asking price rose by £6,647 or 1.8% month-on-month, in May – the biggest rise of the year so far. Tim Bannister, Rightmove’s director of property science, said: “This month’s strong jump in new seller asking prices looks like a belated reaction and a sign of increasing confidence from sellers, as we’d usually see such a big monthly increase earlier in the spring season.” UK newswire, Newspage, asked property experts if it’s a buyers’ or sellers’ market. The experts views can be seen: https://ifamagazine.com/article/latest-rightmove-figures-show-the-average-asking-price-rose-by-1-8-in-may-views-from-property-experts/
Following today's report from Halifax on H Pl - mortgage brokers and property experts have shared their reactions with Mortgage and Property Investment Magazine via a leading newswire service. https://ifamagazine.com/article/halifax-hpi-reaction-from-brokers-and-property-experts/
Earlier this week, Skipton Building Society announced their new 100% mortgage scheme that will allow renters who are struggling to save a deposit the chance to get onto the property ladder. It’s the first no-deposit deal that doesn’t require a guarantor’s backing to launch in the UK since 2008 and the reaction to the scheme has split opinion across the financial services sector. We ask Financial Advisers for their opinion. https://ifamagazine.com/article/advisers-and-brokers-react-to-skiptons-100-mortgage/
Over the past two days, challenger lenders like MPowered and Gen H have turned the tables with a fresh wave of rate reductions. Citing the recent dip in swap rates, MPowered said they are “taking the opportunity to pass the savings to you and your customers by lowering all of our 2-year fixed rates”. UK newswire, Newspage, asked brokers for their views and whether the high street will soon follow suit. https://ifamagazine.com/specialist-lenders-spearhead-rate-cuts-but-will-high-street-follow-brokers-give-their-views/
On the surface of it, the inflation data published this morning by the ONS might appear to be good news as the headline number dipped back to single figures. However there are signs that inflation is becoming rather embedded in the UK economy which is not such good news. But what does this latest data mean for the mortgage and property markets in the UK? Mortgage brokers and other property experts have been sharing their reaction to the news as follows: https://ifamagazine.com/article/what-do-todays-inflation-data-mean-for-mortgage-and-property-markets-experts-react/
Following the Halifax reporting earlier this week that house prices registered the first annual contraction in more than a decade in May, UK newswire, Newspage, asked property experts if a property market crash is on the cards. The views of 10 can be seen below. https://ifamagazine.com/article/are-we-heading-for-a-property-market-crash-experts-deliver-their-views/
