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Britain’s ongoing housing shortage has once again come under the spotlight, with new research highlighting that the issue is not one of demand or land availability—but rather decades of underbuilding.
The UK mortgage market is moving once again, with a number of major lenders increasing their mortgage rates as wholesale funding costs and swap rates rise. For anyone planning to buy, sell, remortgage or invest in property, this is an important development to keep an eye on.
Summer is traditionally a quieter period for the UK property market, with school holidays, family commitments and overseas travel often causing buyers and sellers to put their plans on hold. This year, however, prolonged hot weather appears to have added to the seasonal slowdown.
The Bank of England is widely expected to hold interest rates at 3.75% when policymakers announce their latest decision on Thursday 30 July. While this may appear to signal stability on the surface, there are a number of underlying factors creating a more complex and uncertain outlook.