“The latest inflation figures suggest that the Bank of England’s aggressive tactics are starting to yield results, with the level of inflation falling marginally between October and November.
With this in mind, some may feel that a further festive hike ahead of the Christmas break is perhaps a tad Scrooge like. However, the...
Research by estate and lettings agent, Barrows and Forrester , has revealed that 64% of UK homeowners are already planning to cut back on their Christmas spend due to the increased cost of their mortgage, with 73% stating that should the Bank of England choose to increase rates again in December, it will put a further strain on their already overstretched household finances.
CEO of Octane Capital, Jonathan Samuels, commented:
“The latest mortgage approval figures are an expected consequence of the many challenges facing the market right now. Indeed, a reduction in buyer appetite comes as no surprise in the context of a worsening cost of living crisis, runaway inflation, and continued economic uncertainty. For now at least.
