Budget fallout triggers surprise fall in mortgage approvals

Jan 6, 2025 · Budget fallout triggers surprise fall in mortgage approvals; Volatile housing market this year despite mortgage resilience – Nationwide; Budget tax threat ‘forcing some property …

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Mortgage Approvals Suffer Post-Budget Dip: BoE

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Jan 3, 2025 · The annual growth rate for mortgage lending rose to 1.3% in November from 1.1% in October, continuing the upward trend since April 2024. The report adds that gross lending …

mortgagefinancegazette.com

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Budget Fallout Hits Mortgages, As Lenders Increase Rates

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Nov 4, 2024 · “This isn’t the radical spike in rates that have blighted mortgage rates in the last couple of years, but if funding costs don’t ease, the sub 4% five-year fixed rates that we’ve …

mpamag.com

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Will The Autumn Budget Hit The Housing Market Recovery?

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Sep 26, 2024 · The number of mortgage approvals over this period sits at 617,266, a 4% increase on the 12 months that followed the mini Budget, albeit still some way off the pace of the …

moneyweek.com

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Base Rate To Hit 4% By End Of 2025 - Which? - Introducer Today

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Budget fallout triggers surprise fall in mortgage approvals; Volatile housing market this year despite mortgage resilience – Nationwide; Budget tax threat ‘forcing some property investors …

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FAQs about Budget fallout triggers surprise fall in mortgage approvals Coupon?

Why did mortgage approvals fall in November?

Mortgage approvals saw a surprise fall in November after Rachel Reeves's Budget resulted in higher borrowing rates, Bank of England figures showed yesterday. The number of home loans approved by lenders dropped to 65,720, a three-month low – down from 68,129 in October – after the Chancellor's announcement. ...

Why did Ms Reeves drop mortgage approvals?

The fall in mortgage approvals comes after Ms Reeves used her maiden Budget on October 30 to announce a record £41.5bn in tax rises, damaging confidence in the economy. She also opted not to extend a temporary increase to the stamp duty nil-rate threshold, meaning that buyers purchasing homes after March 31 will have to pay more in tax. ...

How many mortgage approvals were made during the mini budget?

Its research found that in the 12 months leading up to the mini Budget, there were 821,892 mortgage approvals and 1,277,320 property transactions also took place during this period, with the average UK house price increasing by 8.3%. ...

Which lenders are raising fixed-rate mortgage rates?

M ajor lenders including NatWest and Nationwide have raised their fixed-rate mortgages as market fallout from the Budget “ripples” into pricing. Santander, HSBC and Virgin Money are also upping the rates on some of their loans as the cost of borrowing rises as traders expect interest rates to fall more slowly than previously thought. ...

Are mortgage rates coming down?

Mortgage pricing is finally coming down, with some lenders even offering rates below 3%. Lower inflation and cheaper home loans are now bringing renewed optimism to the property market and house prices are rising again, growing by 2.4% in the latest Nationwide index. ...

What's going on with mortgage prices in 2024?

Lender Nationwide said prices rose by 4.7 per cent over 2024, the strongest year since 2021. Activity is expected to heat up in the early months of this year as buyers race to complete purchases before a stamp duty holiday comes to an end. ...