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UK Finance’s latest arrears and possessions data for second quarter 2023 reveals there were 81,900 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in the second quarter of 2023. This represents a 7% increase on the previous quarter. Within the total, there were 30,940 homeowner mortgages in
UK Finance’s latest arrears and possessions data for second quarter 2023 reveals there were 81,900 homeowner mortgages in arrears of 2.5% or more of the ou
The Bank of England’s Monetary Policy Committee (MPC) has voted through its fourteenth consecutive base rate rise today. By increasing the base rate by 0.25% to 5.25% the MPC has taken the cost of borrowing to its highest rate since the financial crisis in 2008. Most analysts predicted a 0.25% rise (rather than 0.5%)
The number of non-seasonally adjusted residential property transactions in June stood at 94,690 according to the latest HMRC data, 9% lower than the same month last year. While the annual number was a drop on last year, the figure equates to 28% higher than May this year. On a seasonally adjusted basis, the figure of
Over the past month or so, headlines in Mortgage Strategy have included: ‘Average house prices fall for fifth consecutive month’; ‘Housebuilders warn of continued slowdown’; and, ‘It will take 13 years for first-time buyers to save enough to get on the housing ladder’. With the bad news heavily outweighing any good,