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Top related persons:
Rachel Reeves - 1 Reeves - 1 — - 1 David Hollingworth - 1 Hollingworth - 1 Allan Monks - 1 BOE - 1
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London's Oversnap
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Bank of England - 1 Wednesday - 1 Virgin Money - 1 Santander - 1 Morgan's - 1

Search resuls for: "David Hollingworth"


2 mentions found


☆ Brits brace for higher mortgage payments despite Bank of England seen cutting rates
  + stars: | 2024-11-06 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +3 min
Oversnap | E+ | Getty ImagesLONDON — Britons are facing the prospect of higher mortgage rates for longer after the government's tax-and-spend budget threw off expectations for a series of near-term interest rate cuts. Mortgage rates also took a hit from the uncertainty, with a number of smaller and mainstream lenders raising mortgage rates on the expectation that interest rates may stay higher for longer. watch nowVirgin Money became the first major lender to raise mortgage rates after the budget, lifting them by 0.15%. "This isn't the radical spike in rates that have blighted mortgage rates in the last couple of years. He added that interest rates could now remain 50-basis-points higher than previously expected at the end of the cutting cycle.
Persons: Rachel Reeves, Reeves, —, David Hollingworth, Hollingworth, Allan Monks, BOE Organizations: Bank of England, Wednesday, Virgin Money, Santander, Morgan's Locations: London's, Oversnap
☆ A decade of rising house prices is over. The UK economy will feel the pain
  + stars: | 2022-11-02 | by ( Anna Cooban Hanna Ziady | Anna Cooban | Hanna Ziady | ) edition.cnn.com   time to read: +10 min
Fueled by a post-lockdown buying frenzy, the average UK house price hit a record £275,000 ($315,474) in December, a £27,000 increase on the previous year’s high. UK mortgage rates have been ticking upwards since spring, in line with rising interest rates. UK house prices fell 0.9% between September and October, the first decline in 15 months, according to data from Nationwide. A drop in buying power makes a significant drop in house prices inevitable, according to Andrew Wishart, a senior economist at Capital Economics. When house prices fall, homeowners feel less confident about their personal finances, causing them to cut back on spending and hold off on making additional investments.
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