A fixed rate mortgage provides certainty about monthly repayments, but with rates so high, an adjustable rate mortgage might be a way to go, at least temporarily. These are normally priced at 1% above the Bank of England base rate. According to Money Saving Expert, the cheapest tracker mortgage is currently 2.95%. “If you’re having …
20 things you need to know about the housing market right now Read More »
The Bank of England likes to pretend it had no part in the mess – but its failure to act more decisively on interest rates while sticking to quantitative easing paved the way one last hurray. Yet no one can say that the same institutions that have been complicit in the extraordinary boom of the …
The downturn in the real estate market has already begun Read More »
Ride a bike In large part, house price growth depends on when the property was purchased during the housing market cycle, which is typically made up of leaders and laggards. Lucian Cook of estate agency Savills said: “Leaders are the strongest performing areas in the first half of a cycle, led by London, spreading across …
“I was shocked when I saw what the neighbors had sold” Read More »
Woe betide anyone who suggests that the impending mortgage crisis could be the worst in recent history. After years of dormancy, interest rates are now rising rapidly. This situation is compounded by skyrocketing energy bills, a growing tax burden and food prices that eat away at what is left of disposable income. But the Bank …
Mortgage rates were high for baby boomers – but they had a hand Read More »
In the sixth year, interest is charged on the equity loan at 1.75 pc. This rate then increases by the retail price index plus one percentage point (or the consumer price index plus two points according to the current scheme). Based on the current RPI of 12.6%, this means the rate will rise to 1.99% …
Savvy property hunters can now get deep discounts on their purchases as chains collapse and rising mortgage rates hit prices. Buyer demand has fallen by a fifth in the past two weeks, according to real estate website Zoopla, creating a buyer’s market in many areas. House prices could already be falling due to spiraling mortgage …
How to Secure a Good Real Estate Deal in This Buyer’s Market Read More »
