UK residential transactions have fallen by 27% over the past year, new data from HMRC reveals. There were 80,020 transactions in May 2023, 3% lower than recorded in April. Meanwhile, the number of UK non-residential transactions in May stood at 9,460 - 16% lower than the same period last year. However, the decline
Mortgage approvals increased by over 3% from 49,000 in April to 50,500 in May, the latest Bank of England money and credit statistics show. This comes despite the average rate on new mortgages increasing by 10 basis points to 4.56%. Even with rises in interest rates and inflation, approvals for
Experts are warning that borrowers should ditch standard variable rate deals or risk paying over the odds as rates continue to rise in the coming months.
Experts are warning that borrowers should ditch standard variable rate deals or risk paying over the odds as rates continue to rise in the coming months.