The housing market has experienced a period of unprecedented growth in the wake of the pandemic, with low interest rates and changing lifestyle preferences driving demand for property.
The economy has been navigating a turbulent path as it responds to the ongoing impact of Brexit, Covid-19, and global economic trends, with both challenges and opportunities ahead.
The Bank of England has lowered the base interest rate to 4%, marking the first drop since March 2023. Despite inflation and food price concerns, the rate cut reflects slowing wage growth and greater global economic stability. Governor Andrew Bailey warns that future cuts will need to be made gradually. Our Mortgage Protection Adviser, Nicola Henton, shares her advice for those navigating the market during this shift.
Buying your first home in the UK is tough, but government schemes can help. This guide shares tips for finding affordable properties and making strong offers. Check if you’re eligible and explore all options before buying.
Halifax reported that house prices have climbed by 2.1% annually for a remarkable three months in succession.
Buying your first home involves more than just saving for a deposit; you’ll also need to consider mortgage fees, legal costs, stamp duty, and ongoing expenses like insurance and utilities. Understanding these costs in advance will help you budget effectively and ensure a smooth home-buying experience.
Family assistance mortgages help first-time buyers get on the property ladder with the support of a family member's savings. They offer a way to buy a home without a deposit, but they come with certain risks and considerations. It's important to understand how they work and explore other options before deciding.