Keir Starmer has pledged to keep mortgage rates ‘as low as possible’ Higher mortgage rates have been a thorn in the side of homeowners for almost two years. According to Moneyfacts, the average interest rate on five-year fixed-rate mortgages is still above 5%, while the interest rate on two-year fixed-rate mortgages is closer to 6%. … Read more
Higher mortgage rates have been a thorn in the side of homeowners for almost two years. According to Moneyfacts, the average interest rate on five-year fixed-rate mortgages is still above 5%, while the interest rate on two-year fixed-rate mortgages is closer to 6%. That’s a lot lower than the 2.5% averages we saw at the … Read more
New Labour Prime Minister Keir Starmer will make his position known during the Speech from the Throne on July 17. (REUTERS/Reuters) The Labour Party won a landslide victory on Thursday night, taking the British Parliament to 412 seats by Friday afternoon. Eleven members of the outgoing Conservative government lost their seats, in a defeat for … Read more
Three more mortgage lenders have announced that they will be lowering mortgage rates, marking a new shift towards lower mortgage costs. Barclays, HSBC and Yorkshire Building Society have all cut their rates, after Santander and Halifax earlier this week. Yorkshire BS has reduced its mortgage interest rate by up to 0.2 percentage points. Drop: HSBC … Read more
Britain’s biggest banks have launched a new war over mortgage prices. Barclays and HSBC cut interest rates for the second time in two weeks. Major lenders are lowering their fixed mortgage rates It could come as a relief to borrowers looking for a better deal, but given the higher interest rates, many people looking to … Read more
Two months into Liz Truss’s premiership, more than 104,000 people took out mortgages, likely with higher interest rates as a result. By means of Sarah Taaffe-Maguire, Business Reporter @taaffems Wednesday, July 3, 2024 6:17 PM, UK Her time at the top of the Conservative Party ended in memorable fashion just 42 days after she became … Read more
Image source, Getty Images Item information Author, Nick Edser Role, Business reporter, BBC News 3 hours ago High mortgage rates mean affordability is still “stretched” for many homebuyers, Nationwide said. The building society said that while profits had risen faster than house prices in recent years, this had not been enough to offset the impact … Read more
Stay informed with free updates Simply log in to the British tax myFT Digest – delivered straight to your inbox. The number of people in the UK paying the highest rate of income tax will exceed 1 million for the first time this year. This is because a long-term freeze of the thresholds and wage … Read more
HSBC, Barclays and NatWest are among the big major lenders cutting mortgage rates as experts say ‘things are looking much more optimistic’. The Bank of England will cut the base interest rate. Interest rates have remained relatively high following the central bank’s decision to raise the UK base rate as it battles to bring down … Read more
Monthly inflation in Australia has risen to its highest level in 2024, providing the latest indication that the Reserve Bank will not cut rates anytime soon and may raise them again. Consumer prices rose 4% last month from a year earlier, the Australian Bureau of Statistics said on Wednesday. That compares with the 3.6% recorded … Read more