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Independent Newspaper - What does the Bank of England rate hike mean for the housing market   Green Tick

  (22/06/2023) The Independent

House hunters relying on a mortgage will potentially have less purchasing power and less confidence as a result of Thursday’s base rate increase, according to property experts. As the Bank of England pushed up the base rate to 5%, the highest rate in nearly 15 years, in a bid to ease stubbornly high inflation, experts said that the housing market was seeing a shift towards more “realistic” prices. Experts give their opinions: https://www.independent.co.uk/money/what-does-the-bank-of-england-rate-hike-mean-for-the-housing-market-b2362374.html

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The Independent - Santander becomes first major lender to increase mortgage rates after inflation rise and Nationwide is the first to drop rates   Green Tick

  (23/01/2024) Nationwide Building Society, The Independent

Santander has become the first major lender to announce an increase in mortgage rates after a surprise rise in inflation last week. A selection of the bank’s standard residential fixed rates will increase by up to 0.20 percentage points for purchase and remortgage clients from Wednesday. The changes were announced as the UK’s biggest building society, Nationwide, said it was cutting its prices, bringing it closer in line with competitors. The other five “big six” lenders, including Santander, reduced their prices in the first weeks of 2024, following data in December which showed that inflation was falling faster than expected. But global uncertainties have prompted some experts to suggest that higher interest rates may be around for a while yet. Last week, the consumer prices index (CPI) measure of inflation increased for the first time since February 2023 – from 3.9 to 4 per cent. Experts give their opinions: https://inews.co.uk/news/santander-fixed-rate-mortgage-deals-increase-2868827

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