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Will interest rates go up in 2022? What UK inflation rise means and how the Bank of England could respond

Will interest rates go up in 2022? What UK inflation rise means and how the Bank of England could respond

The BankšŸ¦ of England cautioned earlier this month that expansion will rocket to its most elevated level for 10 years which it is likely to hike interest ratesšŸ’¹ within the ā€œcoming monthsā€ to undertake and bring CPI back to its 2 per cent target.However, the Bankā€™s governor Andrew Bailey has expelled conversation of expansion proceeding …

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FCA urges lenders to support UKā€™s 47,000 ā€˜mortgage

FCA urges lenders to support UKā€™s 47,000 ā€˜mortgage prisonersā€™

Banks and buildingĀ societiesĀ have beenĀ urgedĀ to consider changes toĀ lendingĀ criteriaĀ to šŸ¦æassistĀ anĀ evaluatedĀ 47,000 borrowers whoĀ mayĀ advantageĀ from a cheaperĀ homeĀ loanĀ but areĀ as of nowĀ incapableĀ to move.A review ofĀ ā€œmortgage prisonersā€Ā by the Financial Conduct Authority found there were about 195,000 households whose debts had been sold on to inactive lenders and that a quarter of them could save moneyšŸ’øĀ #banksĀ #buildingĀ #moneyĀ if they were allowed to switch to a new …

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Buy-to-let repossessions soar as ā€˜strangleholdā€™ on landlords continues

Buy-to-let repossessions soar as ā€˜strangleholdā€™ on landlords continues

The number of āœ”ļørental properties being repossessed by moneylenders since the proprietors are as well far in arrears on their buy-to-let mortgage has rocketed by 40 per cent compared with last year. Figures from UKšŸ’¶ Fund appear that 4,550 buy-to-let mortgages were in arrears of 2.5 per cent or more of the whole borrowing within …

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UK mortgage approvals at lowest level since mid-2020

UK mortgage approvals at the lowest level since mid-2020

The number of mortgages approved for UK house purchases fell to its lowest level in 16 months in October as the ā€œdistortive effectā€ of the stamp duty holiday came to an end.Figures from theĀ Bank of EnglandĀ showed that 67,200 new homebuyer mortgages were approved during the month, down from 71,851 and well below the high of …

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Buy-to-let lenders make raft of changes with more to come

This month weā€™ve seen a plethora of rate reductions, product launches, criteria enhancements, portfolio expansions for international investors and even a new entrant into the buy-to-let sector, which seems like the perfect place to start. Recognise Bank recently entered the buy-to-let market with a product designed for professional landlords and investors with portfolios of at …

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Higher interest rates ā€˜could weigh on UK housing market

Higher interest rates ‘could weigh on UK housing market’

Nationwide Building Society has said there could be a ā€œcoolingā€ of the UKā€™s red-hot housing market because of rising inflation and interest rates.Robert Gardner, the chief economist at the UKā€™s second-largest mortgage lender, said the housing market is currently ā€œremarkably robustā€ despite the end of incentives such as the governmentā€™s stamp duty holiday at the …

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First time buyers face nine year wait to get on the ladder

First-time buyers face nine-year wait to get on the ladder

Concurring to the researchšŸ§, more than a third of UK adults matured šŸ‘©ā€šŸ¦°18-34šŸ‘Øā€šŸ¦± see owning their own home as the most imperative life occasion they will spare for.Three in five anticipate to own their own home inside four years of beginning to save for a deposit but with the normal UK house cost standing at …

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What UK inflation rise means, how the Bank of England could respond

What UK inflation rise means, how the Bank of England could respond

The BankšŸ¦ of England cautioned earlier this month that expansion will rocket to its most elevated level for 10 years which it is likely to hike interest ratesšŸ’¹ within the ā€œcoming monthsā€ to undertake and bring CPI back to its 2 per cent target.However, the Bankā€™s governor Andrew Bailey has expelled conversation of expansion proceeding …

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