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UK Mortgage Market Update: Lender Rates, Budget Impact & More - Week Ending 8th March 2024
In this week's episode, Craig provides insights into the UK mortgage market as of the week ending 8th March 2024. He discusses recent changes in lender rates, with most lenders having increased their rates, and highlights specific changes by lenders like Bank of Ireland, NatWest, Clydesdale, Hodge, HSBC, Virgin, BM solutions, Leeds building society, Barclays, Kensington, and Generation Home. Craig emphasizes the urgency of making decisions on mortgage rates due to the potential for sudden rate withdrawals. The episode also covers lender criteria updates, with notable changes from The Nottingham and The Mortgage Works, aiming to provide more borrowing opportunities. The Halifax house price index for February 2024 is analyzed, showing a 0.4% monthly increase and a 1.7% annual increase, indicating a stable start to the year but an uncertain future for the mortgage market. The spring budget is reviewed, with discussions on inflation targets, fuel and alcohol duty freezes, tax changes, and the lack of property market incentives. Finally, Craig reviews the household finance review for Q4 2023 and the latest swap rate chart, concluding with reminders about the importance of seeking advice from qualified brokers in these uncertain times and encouraging viewers to stay updated and engaged with the content.
00:00 Introduction and Overview
00:25 Latest Lender Rate Changes
02:02 Lender Criteria Changes
02:39 Halifax House Price Index Review
05:08 Spring Budget Highlights
06:50 Household Finance Review
09:21 Swap Rate Chart Analysis
11:02 Conclusion and Final Thoughts
february-2024-halifax-house-price-index.pdf
Household Finance Review 2023 Q4.pdf (ukfinance.org.uk)
UK Mortgage Market Update: Insights and Analysis for March 2024
This episode provides a comprehensive overview of the UK mortgage market, highlighting important developments and trends as of the week ending March 1, 2024. The host discusses the Money Charity Report, Zoopla House Price Index, UK Monthly Property Transactions Report, and Nationwide House Price Index, providing key insights into mortgage arrears, property transactions, and house price changes. Key points include an increase in mortgage arrears, a general recovery in the housing market with more stable house prices, and a 0.7% month-on-month rise in UK house prices as per the Nationwide report. The episode also covers lender rate changes and criteria updates, indicating higher interest rates but more accessible lending conditions for certain buyers. A potential government-backed 99% mortgage scheme is mentioned but reported to be scrapped. The episode concludes with a call for viewer engagement and subscription to the channel for further updates.
00:00 Introduction to the UK Mortgage Market Insights
00:28 Analysis of the Money Charity Report
01:53 Insights from the Zoopla House Price Index
04:06 Review of the UK Monthly Property Transactions Report
06:22 Latest Swap Rate Chart and Lender Rate Changes
08:20 Breaking News: Scrapping of the 99% Mortgage Scheme
09:07 Nationwide House Price Index Overview
10:43 Conclusion and Final Thoughts
PowerPoint Presentation (themoneycharity.org.uk)
House Price Index: February 2024 - Zoopla
UK monthly property transactions commentary - GOV.UK (www.gov.uk)
Property transactions hit lowest level for January in 11 years in blow to market | Personal Finance | Finance | Express.co.uk
Annual house price growth returns to positive territory for first time in over a year in February (nationwidehousepriceindex.co.uk)
UK Mortgage Market Insights: Lender Rate Changes and SWAP Rate Analysis - Week Ending 23rd February 2024
The video script covers the latest lender rate changes, criteria modifications, and a deep dive into the SWAP rate chart to forecast mortgage rates.
It highlights Skipton Building society, Accord, and Metro bank's criteria changes for the week. It reports rampant mortgage rate changes across the board by various lenders with a particular focus on the actions of the Halifax.
The script also delves into an explanatory session on the SWAP rate chart's implications for mortgage rates. Furthermore, it investigates the concept of tracker mortgages, advises on their relevance given the market conditions, and underscores the importance of individual circumstances and professional financial advice.
Lastly, it provides information on other channels where viewers can access regular updates.
00:00 Introduction to the Latest Lender Rate Changes
00:14 Welcome and Overview of the Mortgage Market
00:37 Latest Lender Criteria Changes
01:27 Impact of Lender Rate Changes on Mortgage Rates
02:44 Halifax's Unexpected Rate Reduction
04:33 Understanding the SWAP Rate Chart
07:15 The Dilemma of Choosing a Tracker Mortgage
08:21 Stay Updated with the Latest Mortgage News
08:44 Conclusion and Invitation for Interaction
UK Mortgage Market Insights & Economic Update - February 2024
This episode covers the review of the UK's mortgage market and the economic updates for the week ending February 16th, 2024. The video discusses the latest swap rate chart, lender rate changes, inflation data, land registry data, wage and unemployment data, and recently announced UK recession details. It provides in-depth analysis of the Consumer Price Index (CPI) reports, comparing them to previous years. The episode also delves into regional house price trends, wage growth projections and its implications for inflation, and scrutiny of the unemployment rate. In addition, it elaborates on the state of the GDP and speculations around the UK's economic growth. The host also looks at the latest lender criteria changes, the effect of US data on UK's Gilt yields and swap rates, and provides advice on securing mortgage rates in the backdrop of fluctuating lender rates.
00:00 Introduction to the UK Mortgage Market Insights
00:32 Inflation Data Analysis
02:00 Land Registry Data and House Prices
02:52 Wage and Unemployment Data
03:48 GDP Data and Recession Status
05:51 Impact on Swap Rates
06:19 Lender Criteria Changes
07:05 Lender Rate Changes
08:36 Conclusion and Recommendations
Consumer price inflation, UK
Labour market overview, UK - Office for National Statistics (ons.gov.uk)
Average weekly earnings in Great Britain - Office for National Statistics (ons.gov.uk)
GDP first quarterly estimate, UK - Office for National Statistics (ons.gov.uk)
UK Mortgage Market Insights: Lender Rate Updates, Halifax House Price Index & More | Feb 9, 2024
In this weekly episode, we discuss the latest lender rate and criteria changes, analyze the recent swap rate chart, and scrutinize the Halifax house price index. We delve into potential implications for house prices in 2024, foreseeing the Bank of England's plans regarding interest rates. We conduct an in-depth analysis of various lenders' rate changes and tie them to recent swap rate increases. We also explore a new mortgage lender planning to introduce a 'Dutch style' mortgage, offering reduced mortgage interest rates as your loan to value decreases. We encourage your thoughts and predictions for any potential rate cuts and the base rate at the end of 2024.
00:00 Introduction and Overview
00:33 Latest Swap Rate Chart Analysis
02:08 Lender Rate and Criteria Changes
03:36 Understanding Lenders' Rate Strategies
04:53 Halifax House Price Index Review
07:16 New Mortgage Lender Announcement
08:25 Conclusion and Farewell
Halifax UK | House Price Index | Media Centre
The podcast currently has 26 episodes available.