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The Latest Breaking News from Simon Gammon

Warning Reeves’s landlord tax will push up rents and ‘dry up’ housing supply

Simon Gammon, founder of Knight Frank Finance, says tax hike on landlords’ rental income will be the ‘last straw’ for many, forcing them to sell up

The Independent UK

Voices: We can’t afford to let London’s ‘golden postcodes’ go to the wall

COMMENT: A slowdown at the top end of London’s property market is the latest indicator that individuals with a high net worth are hedging their bets on Britain, says Knight Frank’s Simon Gammon. The government can no longer bank on a globally minded minority to fund massive imbalances in taxing…

The Independent UK

Home buyer mortgage demand expected by lenders to soften over summer months

Households are adjusting to ‘ongoing cost pressures’, one finance expert said.

Evening Standard

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Lenders expect mortgage demand to shrink in early 2025, Bank of England finds

The latest survey findings point to the financial strain on households against a backdrop of continued inflationary pressures, one expert said.

Evening Standard

Mortgage approvals to home buyers reach highest level since summer 2022

Re-mortgaging also ticked up for the third month in a row in October, the Bank of England said.

Evening Standard

‘Unsettling’ time for some households as base rate left on pause

Some homeowners will still face a jump in their repayments when they come to remortgage, while savers may need to grab the top rates while they can.

The Independent UK

Mortgage approvals for house purchase steady in June, says Bank of England

The number of mortgage approvals made to home buyers remained at about 60,000 in June, the Bank’s Money and Credit report said.

The Independent UK

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Value of outstanding mortgage balances with arrears at highest level since 2014

The value of outstanding mortgage balances with arrears increased by 4.2% from the previous quarter to £21.3 billion.

The Independent UK

UK mortgage arrears rose 9.2% in 2023 last quarter amid ‘surge in borrowing costs’

Mortgage balances with some arrears at highest value since late 2016, Bank of England data shows

The Guardian - UK

Consumer credit borrowing increases at fastest annual rate in five years

The annual growth rate for consumer credit was 8.6% in November, the highest rate since September 2018, according to the Bank of England.

The Independent UK

The major lenders announcing new mortgage rate cuts

First Direct is making mortgage rate cuts of up to 0.40 percentage points and Halifax is cutting rates by up to 0.46 percentage points

The Independent UK

Mortgage approvals slump as ‘autumn housing market pick-up fails to materialise’

Some 43,300 mortgages were approved for house purchase in September, marking the lowest monthly total since January 2023.

The Independent UK

Value of mortgage balances with arrears rises by 28.8%

Strong wage growth could help to slow home repossession rates, experts said.

The Independent UK

Mortgage approvals for house purchase drop to lowest levels since May 2020

Some 35,600 mortgages were approved for house purchase, which was the lowest total since May 2020, according to Bank of England figures.

The Independent UK

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The Independent UK

First-time buyers ‘may need to lower ambitions’ as rates hiked further

The latest Bank of England base rate rise will add around £49 per month to the average tracker mortgage.

The Independent UK

£50-a-month jump in average tracker mortgage costs following rate rise

The increase adds up to more than £600 extra in mortgage costs over the course of a year.

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