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
https://youtu.be/5uJcr7YoPso
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.
https://bit.ly/3QPp8IH
#interestrates #property #mortgages #remortgage #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #bankofengland #inflation #money #servicedaccommodation #holidaylet #HMOrental #holidatrental #airbnb #booking.com #buytoletlandlords
Asset Rich Time Poor, Time Rich Asset Poor – Money Tips 365 Day 44
Asset Rich Time Poor, Time Rich Asset Poor – Money Tips 365 Day 44
Does Loyalty Pay? Money Tips 365 Day 43
Does Loyalty Pay? Money Tips 365 Day 43
Problems are Good – Money Tips 365 Day 42
Problems are Good – Money Tips 365 Day 42
Resources or Resourcefulness? - Money Tips 365 Day 41
Resources or Resourcefulness? - Money Tips 365 Day 41
Can Money Buy You Happiness? Money Tips 365 Day 40
Can Money Buy You Happiness? Money Tips 365 Day 40
Rags to Riches To Rags - Money Tips 365 Day 39
Rags to Riches To Rags - Money Tips 365 Day 39
Cash is not risk free! – Money Tips 365 Day 38
Cash is not risk free! – Money Tips 365 Day 38
Pension Fund Charges Can Seriously Damage Your Wealth – Money Tips 365 Day 37
Pension Fund Charges Can Seriously Damage Your Wealth – Money Tips 365 Day 37
Sell With Stories - Money Tips 365 Day 35
Sell With Stories - Money Tips 365 Day 35
Enjoy your life Money Tips 365 Day 32
Enjoy your life Money Tips 365 Day 32
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money