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Following yesterday’s announcement from The Bank of England that their base rate has increased from 1.25% to 1.75%, we’ve broken down what this means and how it might impact you.
A combination of low-interest rates on mortgages as well as end of your deals from lenders has helped push up mortgage approvals in September according to the latest Finance Monitor Report.
The last time first time buyer mortgage completions were this high the iPhone had only just been launched and the world was on the verge of a financial crisis. So does this indicate that things are looking brighter for first-time buyers and are we seeing the same growth across all sectors of the mortgage market?
The UK mortgage sector has seen its best growth figures for 2 years (Source: UK finance) despite a slowdown in UK house price growth which has seen the slowest growth since September 2012
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