Two leading commentators give their perspective on a recent analysis showing a fall in the number of residential mortgage products available in the United Kingdom. Nearly 10 per cent of mortgages have been taken off the UK market due to concerns about increasing interest rates, according to data from Moneyfacts. The figures indicate that approximately…
Mortgages
Iwona Hovenko, Real Estate Analyst at Bloomberg Intelligence, comments on recent findings from a Zoopla report that first-time buyers escaping rising UK rents are favouring smaller properties as they adjust to higher mortgage rates. Lenders’ tougher affordability checks amid falling disposable incomes and high mortgage rates – combined with the still-elevated house prices (despite recent…
Ana Lai, Real Estate Senior Director at S&P Global Ratings, comments on the impact of 12 months of mortgage rate increases on rental housing affordability following a low interest ‘home-buying boom’ in the residential REIT and social housing markets. Mortgage costs have nearly doubled, forcing more consumers to rent or to continue renting for longer. S&P…
Bank of England plans to scrap mortgage affordability rules have been described as “utter madness” by Nigel Green, the CEO of deVere Group, who says the move underscores how the central bank is “failing Britain.” The damning analysis from the head of deVere Group, one of the world’s largest independent advisors of specialist global financial…