BoE drops mortgage affordability test
"Removing the current stress testing could mitigate some of the impact of higher interest rates," suggests Savills, and is "not as reckless as it may sound".
BoE considers withdrawal of mortgage affordability test, as rates set to rise
“Letting people borrow more money looks like a risky move at a time when house prices are sky high and the outlook is uncertain," comments one analyst as the Bank of England opens a consultation on loosening m…
BoE bumps base rate up to 1.25%
Britain's central bank hikes interest rates again in a bid to curb inflation.
BoE raises interest rates to a 13-year high
The Bank of England expects interest rates to climb to around 2.5% by mid-2023.
Most read
Interior design firm recruits former JLL & Ralph Lauren marketing boss as CEO
Henry Hird will be leading the 40-strong team at Sims Hilditch as the award-winning studio embarks on its 'next phase of growth'.
Caudwell brings in celebrated interior designer for top-end Mayfair project
Developer confirms Juan Pablo Molyneux will create the residents’ communal areas for 1 Mayfair, the forthcoming RAMSA-designed scheme billed as 'London’s most exclusive address'.
‘After all, property is a people business’: In conversation with top Savills execs Pete Bevan, Liza-Jane Kelly & Richard Gutteridge
The agency's London & PCL chiefs share their insights on achieving success in the industry, the biggest market shifts of the last 25 years, and the latest buyer & seller trends...
Size Group to acquire ‘world-class’ bespoke furniture maker
Deal sees top-end construction & maintenance firm expand its range of specialist services, and sets up a foray into the world of superyachts.
Strutt & Parker appoints new Heads of Sales in PCL
Agne Karazuite and Ed Boden have taken on new roles in Chelsea and South Kensington.
London’s super-rich turn to rental homes as ‘rival wealth hubs’ entice billionaire buyers
Fresh analysis by luxury estate agency Beauchamp Estates looks into the wealth and lifestyles of the global super-rich.
£60mn townhouse sale reported at Chelsea Barracks
Significant sale 'demonstrates that despite ongoing economic uncertainty London remains top of the list for the world’s global buyers,' says Knight Frank.
PCL buying agency reveals its best deals of 2023
Mayfair-based Black Brick has sourced 23 properties on behalf of its clients this year, including two "rare treasures" in Chelsea and Knightsbridge - and an apartment overlooking the Eiffel Tower in Paris
LATEST ARTICLES
UK rents to keep on rising but will hit ‘affordability ceiling’ in 2025
Savills expects average rents to increase by another 6% next year, before the pace of growth eases as tenants are stretched to the limit.
Carter Jonas profits fall against ‘challenging market conditions’
Property consultancy has seen fee income rise but profits fall.
Mortgage approvals rise as interest rates stabilise
Bank of England data tell of another increase in mortgage approvals, prompting Savills to suggest 'some confidence is beginning to return' to the property market.
Merrett returns to lead Alexander Hall
Tom Davies is leaving the Foxtons-owned mortgage firm to join LRG; he will be replaced by Richard Merrett.
From strategic hires to the rise of self-employed agents: Andrew Deverell-Smith on the real estate recruitment trends to watch
Is it time to hunker down or level up? Recruitment guru explains how top property firms are taking different approaches to challenging market conditions.