Andy Sankey’s Post

Weekly Update I hope everyone is having a great week so far. We have had another week of rate reductions from the likes of TSB, Halifax, Santander, Virgin and Coventry which is great to see. We have 9 lenders offering products under 4.5% on 5 year fixed rates in the residential purchase market. Also had a slight reduction on 2 year residential purchase money with 4.74% leading the way. I am sure everyone has seen we now have a general election come the 4th July and if the opinions polls and what I hear from pretty much anyone I speak to are correct, we will have a new government in power come the morning of the 5th. One of my asks is we have consistency with a housing minister. The lack of property and pricing of property in the Uk is less than desired and when you have a new housing minister every few months, its never going to work (we have had 7 different individuals in the past 2 years!!). Housing is a long term project and consistency is key so whichever party is in power so hopefully they can be a little more stable with their ministers. Inflation came down this week which is semi good news as though its closer to the governments target of 2%, it didn’t come down as much as expected. Therefore analysts confidence of a June base rate cut has reduced slightly. As always, no one knows for sure and will be interesting to see how this plays out #mortgage #bdm #lender #estateagent #broker #newbuild #adviser

Weekly Update I hope everyone is having a great week so far. We have had another week of rate reductions from the likes of TSB, Halifax, Santander, Virgin and Coventry which is great to see. We have 9 lenders offering products under 4.5% on 5 year fixed rates in the residential purchase market. Also had a slight reduction on 2 year residential purchase money with 4.74% leading the way. I am sure everyone has seen we now have a general election come the 4th July and if the opinions polls and what I hear from pretty much anyone I speak to are correct, we will have a new government in power come the morning of the 5th. One of my asks is we have consistency with a housing minister. The lack of property and pricing of property in the Uk is less than desired and when you have a new housing minister every few months, its never going to work (we have had 7 different individuals in the past 2 years!!). Housing is a long term project and consistency is key so whichever party is in power so hopefully they can be a little more stable with their ministers. Inflation came down this week which is semi good news as though its closer to the governments target of 2%, it didn’t come down as much as expected. Therefore analysts confidence of a June base rate cut has reduced slightly. As always, no one knows for sure and will be interesting to see how this plays out #mortgage #bdm #lender #estateagent #broker #newbuild #adviser

The Bank of England is cutting interest rates to 4.75%, its second reduction this year. It came down from 5.25% to 5% in August. The Bank's base rate heavily influences the cost of borrowing, including mortgages - which in turn frees up more disposable income for people to spend or invest with. Tanya Mcgeehan, MCG Property Group Managing Director: ”This is good news for property investors and home buyers, I think rates will settle around 4% in the not too distant future” #BOE #InterestRates #Propertyinvesting #Rates #Budget #bankofengland #Mortgages #Property *BBC NEWS

📉 Bank of England Cuts Interest Rates. What Does This Mean for the Housing Market Yesterday, the Bank of England announced a reduction in the base interest rate, dropping it from 5% to 4.75%. This is welcome news for the UK housing market as lower interest rates often lead to more affordable mortgages, increased buyer interest, and steadier property values. For buyers, lower borrowing costs mean the potential for reduced monthly payments, making it an ideal time to consider stepping onto the property ladder. Sellers, too, can expect an uptake in demand, with more potential buyers in the market who are motivated to secure favourable rates. This move also boosts overall confidence in the housing market as we head into 2025, making it an opportune moment for those considering buying, selling, or investing. Want to find out more? Read our latest blog to dive deeper into how this change could impact you and the market at large - https://lnkd.in/eGfPg5aT #WatsonsProperty #InterestRates #HousingMarket #UKProperty

Great insights on the economy, property and lending landscape yesterday at the NSW/ACT Liberty Network Services State Forum. A few interesting takeaways: Inflation stabilising at 3.4%, property market is improving whilst people in 'mortgage stress' is hovering around the 30% mark, house finance growth (YoY) is up 4.2% and credit growth is down 4.9%.

Start now, gain in the future! Great insight once again Mr McGill. I feel the UK property market is about to become more favourable than it has been in the recent years and this could be so beneficial to those who have always dreamed of owning a property in the UK! Drop me a message if you are looking to find out more #UKproperty #Investing

Is this a turning point for UK property investors? With the Bank of England announcing multiple rate cuts this year and the UK economy showing signs of improvement, we're witnessing a shift in the UK property market. Here are the main outcomes of this for the next 6 months: •⁠ ⁠Declining SWAP rates have made mortgage products more accessible, increasing borrowing potential for first time buyers. •⁠ ⁠Reduced finance costs will boost profits for investors, driving transaction volumes and property valuation growth. •⁠ ⁠⁠Reduced rates and soaring property & rent prices make it an attractive investment for second and third time buyers. All these factors make it a prime time to invest in property NOW, regardless of whether you’re a first, second or third time buyer. Partner with Value Invest today to stay ahead of the curve and maximise your returns in this high yield market! #ukeconomy #interestrate #bankofengland #ukproperty #propertyinvestment

The long-awaited cut in the Bank of England base rate finally materialised on August 1st, signalling the Bank's confidence that inflationary pressures are slowly coming under control. This first cut since 2020 reduces the rate by a quarter of a percentage point and will be welcome news to homeowners with variable mortgage rates – or those considering a move. The Monetary Policy Committee voted by 5 votes to 4 to cut rates and the Governor made clear that he wants to proceed with caution saying 'we need to make sure inflation stays low and be careful not to cut 'too quickly or by too much'. Commentators now expect one or possibly two more cuts before the end of 2024. This will also be a welcome boost for housebuilders who rely on borrowing to finance new developments – and their role is critical role if the government is to meet its ambitious housebuilding target. Source: Bank of England, Dataloft by PriceHubble. July 2024 For more information contact us on 0203 916 5262 or email [email protected] • • • #buying #selling #renting #letting #londonrealestate #forsale #sold #tolet #letby #realestate #estateagent #Property #millionpoundlisting #IvyandStoneEstates #LocalAgent #luxurylifestyle #newbuild #newhome #Woodfordgreen #canarywharf #royalwharf #royaldocks #collierrow #eastlondon #essex

The Bank of England have reduced base rates by 0.25% to 5% - the first reduction in four years. This will provide some long-awaited relief for those with buy-to-let mortgages, particularly with many nearing the end of fixed rates. With lower interest rate deals already making their way onto the market with more to likely to come, the Bank of England’s decision will instil more confidence in the future of the Private Rental Sector, with lower monthly costs boosting returns on investment for many landlords. Get in touch with us for more landlord advice! https://bit.ly/466hBM5 #SevenLiving #PropertyNews #Landlords #Tenants #PropertyMarket #PropertyUK

Interest rates have been cut for the first time in four years, from 5.25% to 5.00%. For borrowers on our variable rate loans, the cut will be immediately passed on which is good news. Anticipation has been building for some time about when the Bank of England interest rate cut would come. Property developers, lenders like us and potential home buyers will be breathing a huge sigh of relief at this news, as it ends four years of increases. There is no doubt that the recent interest rate environment has had a painfully stifling effect on both supply and demand in our housing market. On the supply side, developers have been hamstrung by the pressure of higher costs for financing developments, slowing down the completion of schemes and their profitability. On the demand side, high interest rates have kept prospective buyers off the property ladder for longer. This housing market stasis has been frustrating to say the least. Today’s interest rate cut will offer much-needed relief for the market. It is the catalyst we have been looking for to get the property market moving again. In fact our CEO Chris Gardner was so uplifted by this rate cut, he decided a visit to The Bank of England was in order, he's now on his way to the Houses of Parliament to get our new government to get to grips with planning - in particular, S106 and CIL's 😉 #DevelopmentFinance #InterestRateCut #Relief