September Round Up
Throughout September 2023, there have been a few announcements in the property and mortgage market as well as some exciting news from us at Amplo Mortgages & Financial Solutions:
Bank of England Base Rate Remain at 5.25%
On the 21st of September, the Bank of England voted on the Bank of England Base rate and the monetary policy committee voted to leave the cost of borrowing unchanged.
Prior to this, the monetary policy committee has raised rates in 14 successive meetings.
Scrapped EPC Changes for Rental Properties
In September, the Government scrapped the upcoming EPC changes for rental properties.
The Government originally announced that landlords would need to ensure their properties had an Energy Performance Certificate rating of C or higher.
Buy to Broker of the Year – Nomination
We’re pleased to be shortlisted as an Excellence Awardee at the annual Mortgage Introducer Awards. Hundreds of mortgage brokers enter the awards each year and we wish our fellow nominees the best of luck.
UK House Prices fall for the 6th Consecutive Month
According to the Halifax House Price Index for September, UK house prices fell a further. They were edging down by 0.4% on a monthly basis.
The average home is estimated to cost around £278,601, a drop of around £1,200 since last month. This can be good news for first time buyers or those who are looking to purchase a new property.
UK Rents hit 15th Consecutive Record
According to figures from the latest Rightmove Rental Tracker, the average advertised rent for new properties on the rental market has hit another new national record of £1,278 per calendar month.
This is the 15th consecutive quarter that average advertised rents have risen to a new record, with average rents now 10% higher than last year.
Whilst in London, a new record of £2,627 per calendar month is now 12.1% higher than last year.
MacMillan Coffee Morning
On the 29th of September, our team along with our neighbours Employment Law Solutions held a coffee morning in aid of MacMillan Cancer Support. It was great to catch up with our neighbours over some delicious bakes and raise awareness and money for a fantastic cause.