Mortgage Rate Cuts & House Price Inflation Decline

Despite soaring interest rates UK lenders continue to slash mortgage rates.  Furthermore, market indicators show house price rises are not only slowing but poised to drop into negative territory.  
  
Zoopla, reports inflation slowing to 7.8%. The property site predicts a further dip into Q1 2023, with a prediction that mortgage rates will settle at 4.5%-5% by mid-2023.
  
Bloomberg report, based on figures provided by data provider money facts, the cost of  the average five-year fix, dropping to below 6%.
Coventry, TSB lower residential fixed rates,  Coventry for Intermediaries has reduced all owner-occupier fixed rates by up to 45 basis points, including two-, three-, and five-year options, reports Mortgage Introducer.

 Market conditions are improving, allowing us to pass on price reductions across a number of products. – Jonathan Stinton, Coventry Building Society.

Home Legal Direct Insights

Mortgage rate cuts coupled with slowing house price inflation spark the beginning of a more positive outlook for the housing market.  
  
More accessible housing prices, lower requirements, and acceptable rates prompt the return of potential buyers to the housing market. This small shift in demand could be the catalyst that sees the property market begin to regain momentum going into 2023.

Selling a house?

Whether you are a first-time buyer or taking the next step up the property ladder. You need a Purchase Conveyancing Quote

Buying a house?

Time to move on? Start the conveyancing process to sell your property ready to begin your next chapter. You need a Sale Conveyancing Quote

Buying and selling?

When you are ready to sell your current property and purchase a new one. You need a Sale and Purchase Conveyancing Quote

Our use of cookies

We use cookies to improve your experience of our website. These contain no personal data. We use analytics cookies to help us make improvements by measuring the way you use the site. Certain cookies help the site to perform predictably. Without them the site may not work properly. You are free to disable them in your browser settings. Accept and dismiss  Reject and dismiss