The average UK rent rose 1.6% to £1,294 in April from the month before, the fourth consecutive increase, as the Renters Reform Bill makes its way through parliament.   This rise means tenant housing costs are 7.9% higher than a year ago, according to the HomeLet Rental Index.  … The post Average UK rents close in on £1,300 a month: Homelet   appeared first on Mortgage Finance Gazette ..read more

UK house prices held steady in April, rising on a monthly basis by just +0.1% (less than £200 in cash terms). Annual growth rose to 1.1%, from 0.4% in March, though this can be attributed to the base effect of weaker price growth around this… The post Housing market finding its feet as prices remain steady: Halifax appeared first on Mortgage Finance Gazette ..read more

The latest S&P Global UK Construction PMI survey has signalled a setback for house building, with April data pointed to a moderate fall in residential building work, although the rate of decline was the steepest since January. Construction companies again noted sluggish market conditions and… The post Fall in resi building work over month: Construction PMI appeared first on Mortgage Finance Gazette ..read more

Despite a fall in inflation, a stuttering housing market has meant that just 56 areas of the UK have seen inflation busting rates of house price growth over the last year, down from 75 areas the previous year.  This is according to the latest market… The post Fewer areas see house price growth beat inflation: Octane appeared first on Mortgage Finance Gazette ..read more

Barclays will cut selected two- and five-year residential purchase-only fixed-rate deals by between 14 basis points and 39bps from tomorrow (8 May).  The high street bank says its reductions cover:  Two-year fixes at 85% LTV, with a £899 product fee, will fall 24bps to 4.99%   Two-year… The post Barclays reduces resi purchase-only rates by up to 39bps  appeared first on Mortgage Finance Gazette ..read more

NatWest and HSBC will raise fixed-rate offers on residential and landlord switcher deals from tomorrow (8 May).   NatWest says rates on these products will rise by up to 12 basis points on selected two- and five-year offers.   These rises include:   Two-year switcher fix   60% loan to… The post NatWest and HSBC raise resi, landlord switcher rates   appeared first on Mortgage Finance Gazette ..read more

Mortgage and rent payments rose 3.6% in the year to April, ending a slowdown of these costs in the first three months of the year, data from Barclays shows.   But housing costs remain below the 12-month average of 6.5%, “indicating that costs are still heading… The post Mortgage and rental payments lift, leasehold ‘burden’ rises: Barclays   appeared first on Mortgage Finance Gazette ..read more

The Bank of England’s rate-setting body is likely to keep interest rates on hold at 5.25% for the sixth time in a row when it meets on Thursday, as stronger wage and inflation data has pushed back the chances of a summer rate cut.   … The post MPC rate preview: Focus on the inflation forecast  appeared first on Mortgage Finance Gazette ..read more

HSBC chair Mark Tucker forecasts that the Bank of England will make its first rate cut in June, followed by two more reductions by the end of next year.   That would lower Bank rate to 3.75%, from its current 5.25% level, where it has remained at a… The post HSBC chair Tucker forecasts first BoE rate cut in June   appeared first on Mortgage Finance Gazette ..read more

Mortgage Brain has added Nomo to its Sourcing Brain platform. This new partnership will provide brokers access to Nomo’s Sharia-compliant residential and rental property finance products. Nomo is a UK-based, Sharia-compliant digital bank. It is part of the Bank of London and The Middle East… The post Nomo Bank added to Mortgage Brain platform appeared first on Mortgage Finance Gazette ..read more