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Rising interest rates and lofty inflation is hitting house prices in the uk. according to the nationwide building society, prices dropped by 3.8% injuly the fastest annual pace in ia years, and the biggest decline sincejuly 2009. nationwide also said mortgage costs hit the highest level for 15 years last month, as lenders grappled with inflation and uncertainty over rates set by the bank of england. a typical two year fixed mortgage rate is now 6.85%. the average price of a home in the uk is £260,828. that is down from a peak in august last year. affordability is a challenge for some buyers but should be welcomed by many first time buyers who had previously struggled to get into the market. let s cross live now to andy russell, who s the ceo of wealthify, a uk based consumer ....
Affordability is still a challenge for many people. with the details, here s our cost of living correspondent, colletta smith. what we re seeing is the biggest house price fall since the financial crash in 2009. but the ingredients, the causes of this fall are very different. it s really being fuelling by those huge increases in mortgage rates that we ve seen over recent months. today, it s been caused by the huge increase in mortgage rates that we ve seen over the last couple of months really beginning to bite in the housing market. if you were to get a two year fixed rate mortgage deal today you are looking at average interest rates of 6.85%. that is sitting at a 15 year high and that means that more people are ....
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People a little second. the rewarded in your salary, it makes people a little second. people a little second. the action coincides by people a little second. the action coincides by strikes people a little second. the action coincides by strikes by people a little second. the action coincides by strikes by the - coincides by strikes by the educational institute of scotland and to other unions. teachers in wales started action short of a strike at the beginning of february. most teachers in northern ireland walked out for half a day on february the 1st. the unions are calling for pay above the rising rate of inflation. they also want schools to be given extra money to ensure pay rises do not come from existing budgets. most state school teachers in england and wales had a 5% pay rise last year. teachers in wales rejected a recent offer of an extra 1.5% pay rise plus an additional one off payment of 1.5%. in scotland, teachers rejected a 5% increase and a subsequent offer of “p ....
In england and wales had a 5% pay rise last year. teachers in wales rejected a recent offer of an extra 1.5% pay rise plus an additional one off payment of 1.5%. in scotland, teachers rejected a 5% increase and a subsequent offer of up to 6.85%. the scottish government proposed a 6% pay rise this year and a further 5.5% in april. the neu could have paused the strikes, we could have been sat round the table since last thursday. i offered the weekend, as well. we had time. richard galpin, bbc news. a full list of strike dates and where they are taking place can be found on our website at bbc.co.uk/news people from ethnic minority backgrounds who lost loved ones in the pandemic have said they re being sidelined by the covid 19 public inquiry. ....