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
How Will The War In Gaza Affect You?
The Ancient Allure of Gold and Silver: A Comparison with Crypto, Stocks, and Property Investments Part 2
The Ancient Allure of Gold and Silver: A Comparison with Crypto, Stocks, and Property Investments
Buying a house not “that difficult” NatWest Chairman Sir Howard Davies claims!
Buying a house is not “that difficult” NatWest Chairman Sir Howard Davies claims!
7 Things To Make 2024 Your Best Year Ever!
7 Things You Can Do To Make 2024 Your Best Year Ever!
What’s in Store in 2024? Stock Markets, Property and Gold
What’s in Store in 2024? Stock Markets, Property and Gold
Maximize Profits in 2024: How Lower Property Prices and Increased Rents Boost Buy-to-Let Appeal
Maximize Profits in 2024: How Lower Property Prices and Increased Rents Boost Buy-to-Let Appeal
Stock up on CANDLES, Torches and Battery Powered Radios, Dep PM Warns UK
Stock up on CANDLES, Torches and Battery Powered Radios, Dep PM Warns UK
STOP WORKING FOR FREE! - Why Do Small Businesses Work For Nothing?
STOP WORKING FOR FREE! - Why Do Small Businesses Work For Nothing?
UK Fixed Mortgage Rates Drop Below 5% As Inflation Falls to 4.6%
UK Fixed Mortgage Rates Drop Below 5% As Inflation Falls to 4.6%
These 12 Rich Habits Will Make You Wealthy, Guaranteed!
These 12 Rich Habits Will Make You Wealthy, Guaranteed!
Where will you be in 5 years?
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