The 7am Cut
BuyAssociation curates a weekly news letter of the top property news headlines – to receive your weekly round up of property news, register today.
In the news this week: buy-to-let mortgage rates continue to improve; house prices reach new heights; and the autumn property market bounces back…
Buy-to-let mortgage rates continue to improve for landlords
“The UK rental market remains an extremely busy and fast-paced sector, with landlords continuing to experience extremely high demand for their properties from tenants due to a high population of renters. While major cities remain the main hub of activity, commuter towns are increasingly seeing rising demand from tenants”…
– Eleanor Harvey, BuyAssociation
UK property market sees renewed confidence as house prices reach new heights
“Halifax claims that the average cost of a home increased by 0.3% last month, therefore increasing the average property worth to £292,506. Reflecting a comeback in buyer confidence as borrowing rates relaxed, this was the highest level since August 2022. House prices rose 4.3% annually, the biggest increase since November 2022”…
– Editorial Unit, The Up Coming
The big autumn property market bounce back
“Two years since the disastrous Liz Truss mini-budget, mortgage interest rates are now consistently falling. A host of lenders are offering loans with rates below 4 per cent — in the past week alone, Barclays and Nationwide launched five-year fixes at 3.71 and 3.74 per cent respectively — tempting some buyers who have delayed that much-anticipated move into the fray”…
– David Byers, The Times
Nationwide is allowing first-time buyers to borrow as much as six times their annual salaries
“Mortgages giant, the Nationwide, has revealed that it is allowing first-time buyers to borrow as much as six times their annual salaries in a move that is likely to give the housing market a substantial boost.
Figures from rival Yorkshire Building Society recently showed the number of first-time buyer numbers hit a ten-year low during 2023 amidst soaring mortgage rates and the cost-of-living crisis, so Nationwide’s first move in the market is expected to turn this around”…
– Simon Cairnes, The Negotiator
Debunking five ‘myths’ about Renters Rights Bill
“Previously known as the Renters Reform Bill under the Conservative government, Labour has made a few changes to the new Renters Rights Bill before resubmitting it to Parliament. It will now move through the usual pathways before being made into law, meaning some aspects of the bill may still change”…
– Eleanor Harvey, BuyAssociation