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The Latest Breaking News from Simon Gammon

‘Unsettling’ time for some households as base rate left on pause

Some homeowners will still face a jump in their repayments when they come to remortgage, while savers may need to grab the top rates while they can.

The Independent UK

Mortgage approvals for house purchase steady in June, says Bank of England

The number of mortgage approvals made to home buyers remained at about 60,000 in June, the Bank’s Money and Credit report said.

The Independent UK

Value of outstanding mortgage balances with arrears at highest level since 2014

The value of outstanding mortgage balances with arrears increased by 4.2% from the previous quarter to £21.3 billion.

The Independent UK

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UK mortgage arrears rose 9.2% in 2023 last quarter amid ‘surge in borrowing costs’

Mortgage balances with some arrears at highest value since late 2016, Bank of England data shows

The Guardian - UK

Consumer credit borrowing increases at fastest annual rate in five years

The annual growth rate for consumer credit was 8.6% in November, the highest rate since September 2018, according to the Bank of England.

The Independent UK

The major lenders announcing new mortgage rate cuts

First Direct is making mortgage rate cuts of up to 0.40 percentage points and Halifax is cutting rates by up to 0.46 percentage points

The Independent UK

Mortgage approvals slump as ‘autumn housing market pick-up fails to materialise’

Some 43,300 mortgages were approved for house purchase in September, marking the lowest monthly total since January 2023.

The Independent UK

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Value of mortgage balances with arrears rises by 28.8%

Strong wage growth could help to slow home repossession rates, experts said.

The Independent UK

Mortgage approvals for house purchase drop to lowest levels since May 2020

Some 35,600 mortgages were approved for house purchase, which was the lowest total since May 2020, according to Bank of England figures.

The Independent UK

First-time buyers ‘may need to lower ambitions’ as rates hiked further

The latest Bank of England base rate rise will add around £49 per month to the average tracker mortgage.

The Independent UK

£50-a-month jump in average tracker mortgage costs following rate rise

The increase adds up to more than £600 extra in mortgage costs over the course of a year.

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