Finance
Industry Reactions: Bank of England raises base interest rate to 5%
'If we don't raise rates now, it could be worse later,' explains Bank of England chief, as interest rates climb to a 15-year high.
OnTheMarket launches financial services division
'The launch of OnTheMarket Money is another key step in our evolution towards becoming a ‘one stop shop’ technology company that provides services for agents and consumers, across the entire property eco…
Mortgage lending tumbled by 16% in Q1
'Lenders are all doing less business than they would like to be, and have shown willingness to absorb some volatility in order to remain competitive,' says Knight Frank Finance after checking the latest…
Major lender pauses mortgage deals for new customers
HSBC has pulled home-buying products after a surge of enquiries as borrowers look to beat another interest rate hike.
Wealth managers are ‘politically biased, ethically compromising & failing clients’, argue industry insiders
'It is clear that the private wealth industry has to change and to modernise in order to meet the expectations of its own staff and clients, as well as those of society more broadly,' concludes the Progressive…
Mortgage approvals have fallen by 26% in the last year
Mortgage lending has dropped to the lowest level on record, if the period since the onset of the Covid-19 pandemic is excluded.
CapitalRise backs new Octagon mansion project in Surrey
£5mn loan will fund the development of a 13,000 sq ft dwelling on the exclusive Wentworth Estate.
Currency Matters: It’s not all about the rate of exchange
David Huggett runs through the most important considerations when dealing with buyers & sellers who are moving money internationally.
Bridging loan activity surges 68% amidst mortgage market uncertainty
Increase in short-term property lending has been driven by demand from residential homeowners.
Developer secures £7.4mn to build two new luxury homes on ‘exceptional’ Marlow site
Two significant new detached houses are to built on a 15 acre site in a Buckinghamshire Area of Outstanding Natural Beauty.
Interest rates may be topping out but ‘two-thirds of Britain’s mortgage-rising pain is still to come’
Think tank warns that higher interest rates have yet to affect the majority of mortgaged households, and this year will be 'particularly bruising' for many homeowners.
Property industry reactions: Interest rates rise to 4.5%
The Bank of England's Monetary Policy Committee has raised the base rate of interest again, by 0.25% to 4.5%.