The Bank of England raised interest rates by 0.25 percentage points from 4 to 4.25 per cent at its March meeting, the 11th consecutive increase. Seven members of the nine-strong Monetary Policy Committee (MPC) voted for a 25 basis-point rise, with two voting to maintain base rate at 4 per cent. Following the unwelcome and …
Chancellor Jeremy Hunt delivered his first full Budget this week and unlike previous budgets from his predecessors, there was little for the housing market as he focused on pensions and childcare instead. While the almost total absence of housing measures came as a surprise given how important the housing market is to the overall health …
The Bank of England raised interest rates from 3.5 to 4 per cent at its February meeting, the tenth consecutive increase. Seven members of the nine-strong Monetary Policy Committee voted for a 50 basis-point rise, with two voting to maintain base rate at 3.5 per cent. While yet another rate rise will be unwelcome to …
According to the latest Bridging Trends data, annual bridging activity rose in 2022 with contributors transacting a total of £716.2m throughout the year as record low interest rates powered demand. Not only is this 14% up on 2021 (£626.7m) but it is also the highest figure we’ve seen since the £732.7m transacted in 2019. This …
Latest figures from HMRC reveal a 3 per cent dip in house sales in December compared with November, while numbers were down just 1 per cent on December 2021. The seasonally-adjusted estimate of the number of UK residential transactions was 101,920 in December 2022, slightly higher than pre-pandemic levels. While transaction levels were slightly weaker …
We’re so pleased to announce that MT Finance have become the latest full member of the Intermediary Mortgage Lenders Association (IMLA). With a combined total of 69 members, IMLA represents mortgage lenders who lend to UK consumers and businesses via broker channels and it is a real honour to now be a part of this. …
It’s no exaggeration to say that 2022 was something of a rollercoaster. From a steady – but constant – rise in base rates to September’s disastrous mini-Budget, we were certainly kept on our toes. With that hopefully behind us, we’ve instead turned our attention to the year ahead. While we don’t have a crystal ball …
It has been a rollercoaster of a year by any standards with three different prime ministers, four Chancellors of the Exchequer, two monarchs and the conflict in Ukraine. The rising cost of living, in particular fuel and energy prices, plus several Bank of England interest rate rises, means the economic picture is very different as …
The Bank of England has raised interest rates from 3 to 3.5 per cent, the ninth consecutive increase. Six members of the nine-strong Monetary Policy Committee favoured a 50 basis-point rise, with two voting to maintain base rate at 3 per cent and one preferring a 75 basis-point increase to 3.75 per cent. Although borrowers …
2022 has been an unpredictable year for the mortgage market, to say the very least. After nearly two and a half years of soaring property prices pushed up by a shortage of stock, buyers are now contending with a Bank Rate of 3%, high inflation and the beginning of a recession. And while September’s ill-fated …
