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rent and mortgage costs rise as homebuyer confidence grows in february
Rent and mortgage spending in the UK rose 7.7% year-on-year in February, driven by homeowners transitioning to higher rates. Despite concerns over inflation and interest rates, consumer confidence in the housing market reached its highest level since October 2024, with a notable increase in first-time buyer activity. However, rising rental costs continue to challenge potential homeowners, particularly among Gen Z renters, with many citing financial barriers to homeownership.
barclays leads mortgage rate cuts with lowest five year fixed deal
Barclays has announced significant cuts to its mortgage rates, now offering the lowest five-year fixed rate at 3.96% for its Green Home mortgage, effective March 4. This move follows similar reductions by other lenders, including Nationwide and HSBC, in response to the Bank of England's base rate decrease to 4.5%. Borrowers are advised to evaluate the full terms of any mortgage deal before committing.
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