Bank Rate has sat at 3.75% since December, and somehow your mortgage costs more. Here's what mattered this month.
- Mortgages are dearer, even though rates haven't moved. Markets are pricing in 4 or 5 rises, so fixed rates are up about a point. Approvals are at their lowest since December 2023, and the Bank would rather cut.
- Prices are flat. Nationwide and Zoopla say they're up 0.8%, Lloyds says 0.0%. Dull for estate agents, but yields are improving if you're buying.
- Renters' Rights Phase 2 starts in December. The landlord database opens in the West Midlands first. At £65 a property it's another annoying bit of admin, and that's about it.
- Politicians are making promises. The Tories would scrap stamp duty, the Greens want a 2% rent cap, and Angela Rayner admits there's a "slim chance" of Labour hitting its 1.5 million new home target.
For once, landlords aren't the villain. Not a bad time to stick to a long-term plan.
