House Prices Fall Again As Interest Rise For Fourteenth Time
Houses fell at the fastest annual rate in 14 years,
according to figures published by the Nationwide Building Society.
Interview with Miriam Nawagamuwa CeMAP, Mortgage and
Protection Advisor with Larkin Financial Services.
The second largest UK mortgage lender say house prices fell
by 3.8% in the year to July 2023, the sharpest drop since July 2009.
Higher mortgage rates and the cost-of-living crisis are
making “affordability a challenge”, the lender said.
Watch video version - https://youtu.be/iIr0nGOGEdc
- Charles Kelly Money Tips Podcast.
A typical 5-year fixed rate mortgage was 6.37% this week,
but as high as 6.85% for a 2 year deal.
The Bank of England have followed the Fed and ECB by hiking
interest rates for the fourteenth time by 0.25% to 5.25%, which will be another
nail in the coffin for the housing market and borrowers.
Average price of a home in the UK is now £260,000, £13,000
below a peak last August.
The lender completed 85,000 transactions in June, down from
100,000 the previous year, which is a near 15% fall in business.
If you need mortgage advice contact:
Miriam Nawagamuwa CeMAP
Mortgage and Protection Advisor
Larkin Financial Services Ltd
07539457777 / 02081333348
239 Mitcham Road, London, SW17 9JG
miriam.nawagamuwa@larkinfinancial.co.uk
See also:
Landlord - Serviced Accommodation V Buy-to-Let Property
Rental And HMO’s - Exploring Alternative Buy-to-Let Strategies in the UK:
Serviced Accommodation, Holiday Letting, and HMOs
See: – Transfer Property Into A Limited Company
Without Paying CGT or Stamp Duty https://youtu.be/mtGq7WaVxLA
If you would like more information and an assessment on letting your property hassle
free, hands-off with FULL MANAGEMENT using the serviced accommodation
model, email southherts@localagent.co.uk
with your property details and location.
Content for educational purposes only, not financial advice.
Always speak to an independent financial or mortgage adviser.
3 Steps To Success Money Management!
I want to help you get control of your money, learn how to
invest and become financially free.
Join me online on my free live money management training
Wednesday at 8.00PM.
Places are limited, so register now below to avoid
disappointment.
#interestrates #property #mortgages #remortgage
#mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining
#moneymanagement #wealth #bankofengland
#inflation #money #servicedaccommodation #holidaylet #HMOrental #holidatrental
#airbnb #booking.com #buytoletlandlords
No comments:
Post a Comment