Consumer confidence is experiencing a downward trend as households face the effects of soaring mortgage rates. In July, confidence levels, which had been steadily improving since the mini-Budget, declined for the second consecutive month, according to a survey conducted by YouGov and the Centre for Economics and Business Research (Cebr). Simultaneously, two separate surveys revealed …
According to Halifax, house prices are experiencing a slight downturn but are rising in certain areas. However, experts warn that this decline could be long-lasting and have a detrimental effect on borrowers and homeowners. Rather than a sudden shock, the damage to the market will be gradual and spread out over many years. Estate agents …
In a recent announcement, the Bank of England revealed its forecast amidst a soaring average two-year mortgage rate, reaching a 15-year high of 6.66%. To mitigate the impact of rising rates, individuals have been resorting to longer borrowing periods, with one in ten new mortgages now extending for 35 years or more. Additionally, there has …
At the familiar yet daunting hour of 3 a.m., I wake up in a state of anxiety, drenched in sweat, with my heart racing. To calm my nerves, I reach for a sacred document that brings me comfort during times of uncertainty. This document, an article from Rocket Mortgage, has become so familiar to me …
In light of high inflation rates, the UK has experienced the largest decline in house prices among the major eurozone countries, according to Liam Bailey, global head of research at Knight Frank. The UK is facing weaker market conditions due to the entrenched inflation and the structure of the mortgage market, which offers more short-term, …
In March, the number of buy-to-let mortgages issued for purchase in the UK reached a record low since 2013, with only 4,948 mortgages granted, half of the figure from the previous year. This decline indicates a trend of landlords choosing to sell their properties instead of refinancing when their fixed-rate agreements end due to increasing …
Are you a victim of unfair treatment by a company? Our Consumer Champion is here to assist you. Click here to find out how to get in touch with her. As a single woman in my thirties, I had always dreamed of purchasing my own house. I had doubted whether this day would ever come …
The growth of house prices experienced a further slowdown in June due to the impact of soaring mortgage rates. This has affected buyers’ purchasing power, leading to sellers accepting larger discounts on their homes. A recent report from Zoopla’s house price index revealed that over two-fifths of sellers (42%) are now accepting offers that are …
Some individuals are facing the challenge of inheriting investment portfolios that have significantly decreased in value due to stock market volatility. For instance, Mr. Richards, a financial advisor, shared a story of a client who lost £1 million because probate delays forced them to sell their £3 million portfolio after the Ukraine war started, resulting …