Bank of England
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Latest property news
Leap in mortgage approvals signals market recovery
Bank of England statistics show that agreed mortgages climbed to 52,000 in March, up from 44,100 the previous month.
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Latest property news
Mortgage rates ‘set to fall’, but market still volatile, warns expert
Mortgage rates could fall further despite the latest Bank of England increase, but there is still uncertainty about which way it will go, according to a financial expert. Ray Boulger, senior mortgage technical manager at brokers John Charcol, told The Neg there is a good chance that interest rates have peaked at 4.25% as inflation is more under control. But he warns: “The market is so fluid and volatile,” and points to a fall in international gilt rates as an example of how different factors can influence what happens. “There is a lot of nervousness in the banking sector. Gilts are usually one of the most secure investments,” he says. More competitive The Bank of England raised the base interest rate again last week by 0.25% to 4.25%, which was the eleventh consecutive increase. “Over the next couple of weeks the banks will take the opportunity to boost their market share” “Despite the bank rate going up I think mortgage rates will come down. Over the next couple of weeks the banks will take the opportunity to boost their market share and make themselves more competitive,” he says. Boulger also believes that lenders will be more generous with their criteria,…
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Housing Market
REACTION: Bank of England hikes interest rate for eleventh time in a row
With this week’s rise in inflation combined with a move by the US Federal Reserve to go ahead with a 0.25% rise, the BoE had few choices.
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Latest property news
BLOG: Carry On Banking… starring the Bank of England Governor!
Glentree Estates boss Trevor Abrahmsohn ponders the state of play at the Bank of England – more like a script for Carry on Banking than a serious institution?
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Housing Market
REACTION: Bank of England raises rates to 14-year high
The Bank of England today raised interest rates to 4% - a 14-year high and the 10th consecutive raise - making rates their highest since 2008 as double digit inflation continues to bite.
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Latest property news
Mortgage approvals hit rock bottom as market struggles
Bank of England figures show mortgage approvals dropped dramatically in December.
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Latest property news
Banks warned not to issue risky buy-to-let loans
The Bank of England says it will be watching lenders more closely as landlords may default on mortgages.
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Latest property news
GUEST BLOG: New year, new market
Nicky Stevenson, Managing Director of Fine & Country, says that after three years of somewhat unusual housing market activity, 2023 looks to be a calmer market.
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Latest property news
Spectre of interest rate shock looms large
More than 1.4 million households in the UK are facing the prospect of interest rate rises when they renew their fixed rate mortgages in 2023.
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Latest property news
Mortgage approvals hit lowest point since lockdown
Bank of England stats show that numbers of people taking out mortgages dropped more than 10,000.
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