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  • House prices slip as rate worries weigh

    House prices slip as rate worries weigh

    Uncertainty and rising rates are combining to put pressure on buyers
    who are growing increasingly cautious, which in turn is pressurising
    prices.

    House price growth dipped in May and the annual rate of growth fell to -1.0%.
    The Bank of England’s Monetary Policy Committee increased Bank Rate to 5% in
    June. Borrowing costs are now at their highest since 2008. Those with tracker or
    variable rates have seen higher repayments and those on fixed rates are
    contemplating their next move. Some are predicting that many homeowners
    may be forced to sell when their current fixed-term ends, the market could see a
    boost to supply, reinforcing a downward price movement.

    Whatever happens in the months ahead, we’re here to help.

    Your home may be repossessed if you do not keep up repayments on
    your mortgage


    Halifax, 2023

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    Jake

    August 17, 2023
    Market update
    House prices, property value

©The Mortgage Merchant 2023 All rights reserved.

JG Capital Finance LTD trading as The Mortgage Merchant is an appointed representative of Stonebridge Mortgage Solutions LTD, which is authorised and regulated by the Financial Conduct Authority FCA Number 998027. Registered Office: JG Capital Finance Limited- 37 Penrith Grove, Peterborough PE4 7FQ. Registered Company Number: 14741172. Registered in England and Wales. There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £250.

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