Chancellor Jeremy Hunt has confirmed on Thursday during the autumn budget that social rents in England are set to be capped at 7% from April next year. The Chancellor said that the decision to cap rent at 7%, was about protecting the most vulnerable as “difficult choices are not just meant to make accountants happy.” The ongoing cost of living crisis will undoubtedly continue to impact many...

Octane Capital analysed the cost of homeownership based on a variable rate mortgage at a 75% loan to value over a 25-year term. The research shows that a decade ago, after adjusting for inflation, the cost of a variable rate mortgage averaged £895 per month, with the average rate of just 4.29% seeing homebuyers pay £103,993 in interest on their purchase. Since then, homebuyers have enjoyed one of...

Average prices fell 0.3% in October in prime central London, which was the biggest monthly decline since the onset of the pandemic in May 2020. A fall of 0.1% in prime outer London (POL) was the first decline in 30 months. Mortgage rates spiked as financial markets took fright at the inflationary potential of the previous government’s tax-cutting programme set out on 23 September. Things have...