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Nottingham Property Prices Winter 2023

A property price increase

Today Nationwide have stated that property prices are on the rise once again.

Prices had dipped marginally in most areas of the country and many experts predicted there would be a further decline throughout the remainder of the year. Thankfully, this now appears not to be the case.

What about Nottingham property?

Nottingham has always remained one of the strongest area for housing price growth across the country. This year is no exception.

Despite decreases in almost every area of the UK, Nottingham hasn’t really been hit. Prices remain strong and growth has actually continued!

If we look at Hometrack’s data, Nottingham sits top of every major UK city for growth in the last 12 months. This stands currently at +2.9%. Sitting at second place is Birmingham at +2.7% and Sheffield with +2.3%. If we compare this to London, they saw a decline in the last year with -0.5%.

Looking short term, Nottingham prices increase in the last 3 months by 0.3%.

Why did property prices decrease in other areas?

Property prices have decreased slightly in 2023 mainly due to the rise in interest rates. This meant that more people were cautious when it came to applying for mortgages. As a result, less people were then looking for houses which brought prices down.

It is important to note however that it is only a small decline. Prices dropped across the board by just -1.1% in 2023. (Hometrack)

What is the average property price now?

The average home increased in price from £257,808 in September to £259,423 in October, according to Nationwide‘s latest house price index. This index is based on their own mortgage data but is very accurate as they are one of the largest UK lenders.

In Nottingham, the average property price is now £202,400.

Why have house prices generally increased?

Data suggests that many buyers have been holding off buying due to the rise in mortgage interest rates. Now it appears that they cannot wait any longer and have decided to purchase, regardless.

Other contributing factors include strong employment and a short supply of available properties.

What does this mean for home owners?

For those waiting to sell, you’d be forgiven if you were putting this off after listening to the national news.

Whilst we would advise anyone to remain cautious with the constant changing interest rates, now is definitely not a bad time to place your property on the market.

With the increase in buyer confidence now across the board we should see more people looking at every property and battling to make the highest offer.

How much is my property worth?

We can offer you a free, no obligation property valuation. Simply call us on 0115 990 2007 or use the form below.

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    Nottingham Lettings Update

    October 2023 and the Nottingham lettings market is booming.

    According to the BBC, landlords are now seeing at least 25 interested parties looking at every individual property.

    Looking back at the rental market in 2019, this was down to an average of just 6 parties looking at the same house or flat.

    Rental price rises

    This news now comes at the time when the average rental price outside of London has hit £1,278 – a new record. This alone is a 10 per cent increase since July.

    Looking specifically at Nottingham, the average rental price for those letting their property is £1502 pcm (

    Why are rents rising in Nottingham?

    Rents are rising in Nottingham for a number of reasons. The city has an extremely large student population and many students are now returning after COVID.

    Many individuals, couples and families are also now turning to the rental market since high mortgage rates have made home ownership a distant prospect.

    Earlier this year, Benwell Daykin also reported that renting could soon be cheaper than buying in the Nottingham area.

    Housing demand outstripping supply

    Another reason for such a large amount of applications for each property is that supply is fairly low.

    Many landlords are looking to sell due to mortgage rates, tax changes, EPC changes and more. This means that there is a much smaller range of properties for prospective tenants to choose from.

    What does this mean for landlords?

    If you’re looking at letting a property to tenants then your void periods are likely to be minimal. This should obviously save you some money, especially for those who still have a buy to let mortgage.

    If you were considering selling your property then it may be an idea to wait and let it out instead.

    How can tenants successfully rent their dream property?

    With demand so high, letting agent Benwell Daykin can offer a few tips on how to successfully rent a property.

    • Start looking early to ensure you aren’t left without a home. With 25 parties looking at each rental property, the chances of getting rejected are unfortunately high
    • Ensure you have all your paperwork in place, including ID, payslips and references
    • Calculate your finances and make sure you aren’t out pricing yourself. Remember to include funds for your deposit, bills, furniture and more
    • Set up alerts on Rightmove or Zoopla. This means you will get an email as soon as new lettings properties are listed

    Want more lettings information?

    Talk to Benwell Daykin who can help both landlords and tenants. Call 0115 990 2007 today. We can even provide free valuations.

    We have been successfully matching tenants to rental properties for years and offer free advice over the phone.

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    Gas Boiler Ban Changes – What Does This Now Mean For Homeowners?

    You may have heard recently that there’s been another change to gas boiler policies in the UK.

    Until recently, the UK was to phase out gas boilers in new build homes by 2025 and ban them completely from new homes by 2033.

    This, however, has now been extended to 2035.

    What was the original gas boiler ban plan?

    The UK government has been asking homeowners to switch their traditional gas boilers to heat pumps as a more environmentally friendly option. Originally they were offering a grant of £5,000 although this has now been increased to £6,500.

    The uptake for this has apparently been fairly slow which could be a reason for the change in deadline.

    What is a heat pump?

    In the shortest possible terms, a heat pump transfers captured heat from the air outside to the inside of a property. This is then used to fuel the property’s central or underfloor heating and in some cases also provide hot running water.

    How does a heat pump benefit home owners?

    Heat pumps are renowned for their energy efficiency, resulting in significant savings on heating costs compared to traditional gas boiler systems. They achieve high energy efficiency ratios, leading to lower utility bills and reduced carbon emissions. Essentially, although heat pumps can have a large initial outlay, there are savings to be had.

    Landlords could also benefit from heat pumps as another way to entice tenants to rent their homes. During the current cost of living crisis, any reduction in household bills for tenants can be seen as a positive thing.

    If you’re considering applying for a grant, you can do so on the government website.

    What will these new announcements mean for home owners?

    Firstly, if you were considering making your home more energy efficient then you now save even more money with a larger grant. You can apply for this via the government website.

    Secondly, if your boiler needs to be replaced imminently then you should still have the choice as to go for a lower cost traditional system or a more expensive eat pump. This could be a big plus if you’re feeling the pinch with rising mortgage costs.

    Thirdly, if you’re looking to sell your home in the near future, this could be an attractive selling point. We would advise though to do your calculations to ensure the profits made on selling your home outweigh the cost of a heat pump. Benwell Daykin can help with advising you how much your property is worth. Just call 0115 990 2007 to get a free property valuation.

    If you’re wondering what option to choose, contact Benwell Daykin in Ruddington who will be able to offer some advice based on your situation.

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    Is it now cheaper to buy or rent a property?

    This year the Uk economy has hit some challenges. Energy costs, high inflation, plus much more. With this, house prices have changed and so have mortgage payments.

    The latest figures from Nationwide state that house prices have fallen at their fastest rate in August since 2009. Although this sounds like doom and gloom, the average house price back then was £162,112 compared to today’s prices of £286,000. This means that anyone looking to move should still turn a tidy profit.

    Although this probably isn’t new news to anyone,  mortgage payments have now increased in line with rising interest rates. For some families, this has seen monthly repayments triple.

    So with mortgage payments rising, is it now cheaper to buy or to rent?

    The answer, according to property site Zoopla, is it depends where you live!

    Currently, those who live in London and the south are likely to now find it cheaper to rent a property.

    The average UK rent is £1,163 per month, while average mortgage repayments are £1,285 for first-time buyers with a 15% deposit.

    In Ruddington and Nottinghamshire, you are still likely to be financially better off when buying a property instead. The difference though is tiny, with just £56 between the average rental payment and the average mortgage payment.

    So why is this?

    Put simply, house prices have been much higher in the south for a long time. Historically low mortgage rates meant that buyers could afford larger houses and pay less. Now they’re paying more.

    If you are struggling with mortgage payments, please talk to Benwell Daykin who will be able to offer free, impartial financial advice from our fully regulated advisor. We would also be happy to provide a free property valuation to see how much your property is now worth.

    Call 0115 990 2007 and talk to our friendly team today.

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    Mortgage Interest Rates: What Does It Mean For You?

    On Thursday 3rd August 2023, the Bank of England raised interest rates by another quarter of a percent. This has now taken the base rate to 5.25 per cent and is the 14th consecutive hike. This is also the highest interest rate since March 2008, the year of the financial crisis.

    So what does this mean for you?

    Why are interest rate rises happening?

    By rising interest rates, the Bank of England is hoping to bring down inflation. Inflation is very high right now which is contributing to our cost of living crisis. By increasing interest rates, the BoE are hoping that many will stop spending and save money instead. This, in turn, should hopefully lower the price of goods.

    What will happen to mortgage payments?

    The interest rate increase can be a troubling time for some. For instance, there are over 1.4 million people in the UK who are on a variable rate residential mortgage. This means that their payments fluctuate along with interest rates.

    Some home owners could now see hundreds of pounds added to their monthly payments which, during a cost of living crisis, is definitely not ideal.

    What can you do to ease any pressure?

    There are several things you can do to ease pressure if your mortgage bills are rising. The first is talk to a qualified mortgage broker. Whilst this blog can offer guidance, every financial situation is different. You can talk to a qualified broker for free by calling our offices on 0115 990 2007.

    You can also talk to your lender. Some are now offering a switch to interest-only products. This means you only pay the interest on your mortgage every month, rather than the full payment. Whilst this does lower your monthly costs, be aware that you won’t be making payments towards your home, only to the lender’s fees. This will likely extend the term of your mortgage.

    Moving to a fixed-rate mortgage could also help. If you are on a variable rate where your payments fluctuate, you may be financially better off by fixing in the rate for 2, 5 or 10 years. Again, talk to a qualified mortgage broker to see which option is best for you.

    The good news

    It’s not all doom and gloom, however. Santander, for example, actually cut their mortgage rates ahead of the base rate rise. So there are deals still to be had if you talk to a qualified mortgage broker.

    It may also be easier for you to purchase a property right now. House prices have dipped slightly which means you may be able to afford that property of your dreams.

    Looking to see how much your property is currently worth? Benwell Daykin can offer free property valuations.

    To conclude

    Although much of this news can appear daunting, there are ways to ease the pressures.

    Benwell Daykin are here 6 days a week to offer any advice, whether property or mortgage related.

    You can speak to us by calling 0115 990 2007 or by using our contact page.

    Also why not pop into our office for a chat and a coffee? We’re located at 12 High Street, Ruddington.

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    House Prices STILL Continue To Rise Despite Economic Outlook

    In an astonishing twist of events, the UK housing market has defied all expectations by experiencing an unforeseen surge in house prices during June 2023. This unexpected upward trajectory has left homeowners, potential buyers, and industry experts astounded.

    The surprise monthly rise of 0.1% reversed a 0.1% fall in May and confounded economist forecasts of a 0.3% fall. It pushed the average cost of a house in the UK up slightly to £262,239. This is according to Nationwide.

    Two-year fixed-rate mortgage rates have continued to climb past 6% after the Bank of England increased interest rates by half a point to 5% in June in an attempt to curb stubbornly high inflation. The average two-year fixed deal edged higher again on Friday, to 6.39% from 6.37% the day before, according to Moneyfacts. The average five-year fix rose to 5.96% from 5.94%.

    Nottingham growth tops UK

    Nottingham property price growth still continues to outperform all areas in the UK according to Hometrack.

    In the last 12 months, property prices rose in the area by 10.9%. This means a £150,000 property grew to £165,000 in just 1 year.

    In the last 3 months alone, Nottingham property prices grew by 1.4%.

    The average Nottingham house price now stands at £198,000.

    It’s always a good time to sell

    Ready to see how much you have made on your property since purchasing?

    Get a free property valuation by calling Benwell Daykin today on 0115 9902007 or use the form below.

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      Is now a good time to let your property to tenants?

      The UK rental market has been a dynamic and ever-evolving sector, influenced by various factors such as economic conditions, demographic changes, and government policies. As we delve into June 2023, it is essential to analyse the current state of the rental market, shedding light on the prevailing trends, challenges, and opportunities. This article aims to provide insights into the rental market and discuss the factors shaping its landscape right now.

      Continued Demand for Rental Properties

      Despite the unprecedented challenges posed by the COVID-19 pandemic, the demand for rental properties in the UK has remained resilient. A combination of factors, including changing lifestyle preferences and affordability concerns, has contributed to the sustained interest in renting. Young professionals, students, and those unable to enter the property market have been key drivers of this demand.

      Rental Rates and Affordability

      In June 2023, rental rates across the UK have experienced a moderate increase. The surge in demand, coupled with limited housing supply, has exerted upward pressure on rental prices. However, the rate of increase has been relatively stable compared to previous years, primarily due to government interventions and regulations aimed at promoting affordability.

      So, in short, rental prices are up and demand is high.

      Government Initiatives and Regulations

      The UK government has implemented several measures to address the affordability challenge within the rental market. In recent years, initiatives such as rent controls and increased regulation of the private rental sector have aimed to strike a balance between landlords’ and tenants’ interests. These measures have helped alleviate some of the affordability concerns and created a more stable market environment.

      Regional Disparities

      The rental market in the UK is not homogeneous, and regional disparities persist. London continues to experience higher rental costs compared to other parts of the country, primarily due to its status as a global financial hub and the concentration of job opportunities. However, cities such as Nottingham, Manchester, Birmingham, and Edinburgh have seen substantial growth in their rental markets, driven by factors such as urban development, infrastructure improvements, and thriving cultural scenes.

      Shifts in Tenant Preferences

      Tenant preferences have evolved over the past years, shaping the rental market landscape. June 2023 witnesses an increased demand for properties with modern amenities, sustainable features, and flexible rental arrangements. Tenants are placing greater emphasis on properties that offer communal spaces, energy efficiency, and connectivity to support remote work and leisure activities.

      With remote working still playing an important factor in tenant lives, the rental location may not be as important so much now as it once was. This means the amount of tenants who wish to rent your property may increase compared to previous years.


      The above factors are major considerations when looking to let your property in 2023.

      For more expert advice, contact Benwell Daykin estate and letting agents in Ruddington today. Simply call 0115 990 2007 and speak to our friendly team right now.

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      About Ruddington Village, Nottinghamshire

      As an estate agent living and working in the charming village of Ruddington, I am fortunate to witness firsthand the allure and desirability of this Nottinghamshire gem. Nestled amidst rolling countryside and steeped in history, Ruddington offers a tranquil and idyllic lifestyle that captures the hearts of both residents and prospective homebuyers.

      As I walk through the picturesque village streets, I am reminded of the village’s rich history that dates back to medieval times. The architectural tapestry of Ruddington showcases a blend of traditional and contemporary designs, ensuring there is a property to suit every taste and preference. From quaint cottages with thatched roofs and charming character features to modern family homes with spacious layouts, Ruddington’s housing stock caters to a diverse range of lifestyles.

      Property prices

      Property prices in Ruddington reflect the village’s desirability and the quality of life it offers. The average property prices range from £200,000 to £500,000, depending on factors such as size, style, and location. The market caters to first-time buyers, growing families, and those seeking a peaceful retreat in a picturesque setting. With a variety of property types available, including period homes, terraced houses, and modern developments, Ruddington presents a broad spectrum of opportunities for homebuyers.


      One of the standout features of Ruddington is its strong sense of community. As an estate agent living in the area, I have witnessed the warmth and friendliness that permeates the village. Neighbours greet each other with a smile, and there is a genuine sense of connection and belonging. The village’s close-knit community spirit is fostered through various events and activities, including summer fetes, art exhibitions, and farmers’ markets.

      Beyond its community spirit, the village boasts an abundance of natural beauty. Surrounded by picturesque countryside, the village provides ample opportunities for residents to connect with nature. Rushcliffe Country Park, located nearby, offers expansive green spaces, walking trails, and serene lakes. It’s a haven for outdoor enthusiasts, providing a peaceful retreat for leisurely strolls, family picnics, and moments of tranquility.

      One notable village location which cannot be overlooked is Sellors’ Playing Field. This expansive green space serves as a hub for recreational activities and community gatherings. It offers a wide range of amenities, including a well-maintained football pitch, a children’s playground, and open spaces for picnics and leisurely walks.

      One of the most highly anticipated events in Ruddington is the annual Wakes funfair, held right at Sellors’ Playing Field. This cherished tradition brings an extra dose of excitement and merriment to the village, transforming the green expanse into a bustling carnival atmosphere. The Wakes funfair, held during the summer months, is a time when the entire community comes together to enjoy rides, food and simply have fun.

      Convenience and accessibility

      As an estate agent, I can’t overlook the convenience and accessibility that Ruddington offers. Despite its rural charm, the village is well-connected to nearby towns and cities. Nottingham city centre is just a short distance away, providing an array of amenities, entertainment options, and employment opportunities. Commuters will appreciate the excellent transport links, including regular bus services and easy access to major road networks.

      For history enthusiasts and railway aficionados, Ruddington is home to the renowned Great Central Railway. This heritage railway takes passengers on a nostalgic journey through time, allowing them to experience the magic of steam and diesel locomotives. The picturesque railway line winds its way through the beautiful Nottinghamshire countryside, offering a unique and memorable experience for all ages.


      When it comes to education, Ruddington boasts excellent schooling options, making it an appealing choice for families. The village is home to a range of primary schools known for their high standards of education and nurturing environments. Parents can feel confident knowing their children have access to quality education within the village itself.

      Why choose Ruddington?

      Ruddington is a hidden gem that captivates residents and prospective homebuyers alike. Its enchanting blend of history, natural beauty, strong community spirit, and diverse property opportunities make it an exceptional place to call home. Whether you’re seeking a cottage steeped in charm or a modern family home, Ruddington has something to offer for everyone. As an estate agent living in this remarkable village, I am proud to showcase the unique features and property opportunities that make Ruddington an irresistible destination for those seeking a peaceful and fulfilling lifestyle.

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      Nottingham House Prices in 2023

      Nottingham, located in the heart of England, has emerged as a vibrant and thriving city with a diverse housing market. In this article, we will explore Nottingham’s property prices, analysing the current trends, key factors influencing the market, and the city’s investment potential. Whether you are a potential buyer, seller, or investor, understanding Nottingham’s property market is essential for making informed decisions. Benwell Daykin Estate Agents provides some thoughts.

      Historical Nottingham property trends

      Over the past decade, Nottingham’s property market has witnessed steady growth and resilience. From 2010 to 2020, the average property prices in Nottingham rose by approximately 43 per cent, reflecting the city’s increasing popularity and desirability. Despite fluctuations, Nottingham has consistently performed well compared to the national average, thanks to factors like its thriving economy, excellent transport links, and renowned educational institutions.

      The current property market (2023)

      As of the latest data, the property market in Nottingham continues to show positive signs. While the COVID-19 pandemic had a temporary impact, the market has rebounded strongly. According to recent reports, Nottingham’s property prices have experienced an upward trajectory, driven by high demand, limited supply, and attractive rental yields.

      Several factors contribute to the strong property prices in Nottingham. First and foremost, the city’s economic growth plays a significant role. Nottingham benefits from a diverse and expanding economy, with a strong presence in sectors such as life sciences, digital industries, and finance. This robust economic base attracts businesses and professionals, fuelling demand for quality housing.

      Another factor is the city’s renowned universities, including the University of Nottingham and Nottingham Trent University. These institutions attract a significant number of students, creating a thriving rental market. The demand from students and young professionals has led to an increase in purpose-built student accommodations and a subsequent rise in property prices in popular student areas.

      Additionally, Nottingham’s excellent transport links contribute to its appeal. The city boasts efficient road and rail networks, providing easy access to major cities like London and Birmingham. The upcoming HS2 high-speed rail project further enhances Nottingham’s connectivity and attractiveness as a commuter destination.

      Investing in Nottingham property

      Nottingham offers promising investment opportunities for property buyers. Its strong rental market, driven by a large student population and young professionals, ensures a consistent demand for rental properties. Rental yields in Nottingham are attractive, particularly in popular areas such as the city centre, West Bridgford, and Beeston.

      Furthermore, the city’s ongoing regeneration projects enhance its investment potential. Areas like the Creative Quarter, Waterside Regeneration Zone, and the Southside area are witnessing significant redevelopment, attracting investors seeking capital growth and long-term returns.

      Nottingham’s property market also benefits from its affordability compared to other major cities in the UK. The relatively lower property prices make it an attractive option for first-time buyers and investors looking to enter the market or expand their portfolio.

      To conclude

      Nottingham’s property market demonstrates resilience, growth, and investment potential. With a diverse and expanding economy, renowned universities, excellent transport links, and ongoing regeneration projects, the city offers a compelling proposition for property buyers and investors. While property prices have experienced steady growth, Nottingham’s affordability compared to other major UK cities makes it an attractive option. Whether you are considering purchasing a home or seeking to invest in rental properties, staying informed about Nottingham’s property market trends and factors is crucial for making sound decisions in this dynamic and promising city.

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      The Impact of Interest Rate Rises in 2023

      mortgage rate rises 2023

      May 2023 marked a significant turning point for the United Kingdom’s financial landscape, as the Bank of England implemented an interest rate rise for the first time in several years. This move reflects the evolving economic conditions and aims to balance the needs of consumers, businesses, and the overall stability of the economy. In this blog post, we will explore the implications of interest rate rises in the UK in May 2023 and discuss how individuals and businesses can navigate these changes.

      1. The rationale behind the interest rate rise:

      The Bank of England’s decision to raise interest rates in May 2023 was driven by several factors. One of the primary reasons was the need to curb inflationary pressures, which had been gradually building up due to increased consumer spending, rising energy costs, and supply chain disruptions. By raising interest rates, the central bank aimed to reduce the pace of spending, cooling down the economy and reining in inflation.

      1. Impact on consumers:

      For consumers, the interest rate rise means an increase in borrowing costs. Mortgages, personal loans, and credit card debts are directly influenced by interest rates. As rates rise, monthly payments on variable rate mortgages are likely to increase, potentially impacting household budgets. Individuals should review their finances, consider fixed-rate mortgage options, and explore opportunities for debt consolidation or refinancing to mitigate the impact of rising interest rates.

      1. Impact on businesses:

      Businesses will also feel the effects of interest rate rises. The cost of borrowing will increase, which may deter investment and expansion plans. Higher interest rates can also affect consumer spending habits, potentially impacting the sales and profitability of businesses, particularly those in sectors sensitive to interest rate changes. Companies should assess their cash flow, review their financing strategies, and explore alternative sources of funding to adapt to the new interest rate environment.

      1. Investing wisely:

      As interest rates rise, savers may benefit from higher returns on their deposits. Traditional savings accounts and fixed-term deposits may become more attractive as they offer better interest rates. However, investors should also diversify their portfolios and consider other investment options, such as stocks, bonds, or real estate, which can provide opportunities for growth and offset the impact of rising interest rates.

      1. Overall economic outlook:

      While interest rate rises can cause short-term adjustments and challenges, they are often seen as a positive sign for the economy. Higher interest rates can help maintain price stability, encourage savings, and prevent the buildup of excessive debt. However, it is important to strike a delicate balance to avoid stifling economic growth. The Bank of England will closely monitor economic indicators to assess the impact of interest rate rises and adjust policies accordingly.

      The interest rate rise implemented by the Bank of England in May 2023 signifies a shift in the UK’s economic landscape. Consumers, businesses, and investors need to adapt to this changing environment by carefully reviewing their financial strategies, considering alternative financing options, and exploring diversified investment portfolios. While initial adjustments may be challenging, the long-term benefits of a stable and balanced economy can outweigh the short-term impacts. By staying informed and proactive, individuals and businesses can navigate these interest rate rises and position themselves for financial success in the evolving economic climate.

      How Interest Rates Impact Mortgages

      In addition to the broader implications of interest rate rises in May 2023, it is essential to understand how these changes will specifically impact mortgage rates in the UK. Mortgage rates are directly influenced by the Bank of England‘s base rate, which serves as a benchmark for lending institutions. As Estate Agents in Nottingham, Benwell Daykin breaks this information down.

      1. Variable rate mortgages:

      For homeowners with variable rate mortgages, the interest rate rise will lead to an increase in their monthly mortgage payments. Variable rate mortgages are typically linked to the base rate, meaning that any increase in the base rate will result in higher mortgage rates. Borrowers should be prepared for potential adjustments in their budget and consider the impact on their monthly mortgage affordability.

      1. Fixed rate mortgages:

      Homeowners with fixed rate mortgages will generally not be immediately affected by the interest rate rise. Fixed rate mortgages offer a predetermined interest rate for a specific period, usually two to five years. However, as fixed-rate mortgage deals expire, borrowers will need to renew their mortgage or switch to a new lender. When doing so, they will likely face higher interest rates than those available during previous years. It is important for homeowners to review their options and assess whether it is advantageous to lock in a new fixed-rate deal or explore other mortgage products.

      1. Remortgaging and new home buyers:

      The interest rate rise may lead to increased remortgaging activity as homeowners seek to secure lower rates or more favourable terms before rates rise further. This surge in demand for remortgaging could potentially lead to increased competition among lenders, offering borrowers a range of mortgage deals to choose from. However, borrowers should carefully consider the associated costs, such as arrangement fees and early repayment charges, to determine if remortgaging is financially beneficial.

      When buying property, new home buyers entering the market after May 2023 may encounter higher mortgage rates compared to previous years. It is crucial for prospective buyers to factor in these increased rates when calculating their affordability and budgeting for homeownership.

      1. Expert advice and planning:

      Given the complexities and potential financial impact of interest rate rises on mortgage rates, seeking expert advice is strongly recommended. Mortgage brokers or financial advisors can provide guidance on navigating the changing landscape, exploring different mortgage options, and identifying the most suitable approach based on individual circumstances.

      You can talk to our recommended mortgage broker for free by calling us on 0115 990 2007.