Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

House Prices Fall Again As Interest Rise For Fourteenth Time Houses fell at the fastest annual rate in 14 years, according to figures published by the Nationwide Building Society. Interview with Miriam Nawagamuwa CeMAP, Mortgage and Protection Advisor with Larkin Financial Services. The second largest UK mortgage lender say house prices fell by 3.8% in the year to July 2023, the sharpest drop since July 2009. Higher mortgage rates and the cost-of-living crisis are making “affordability a challenge”, the lender said. Watch video version - https://youtu.be/iIr0nGOGEdc - Charles Kelly Money Tips Podcast. A typical 5-year fixed rate mortgage was 6.37% this week, but as high as 6.85% for a 2 year deal. The Bank of England have followed the Fed and ECB by hiking interest rates for the fourteenth time by 0.25% to 5.25%, which will be another nail in the coffin for the housing market and borrowers. Average price of a home in the UK is now £260,000, £13,000 below a peak last August. The lender completed 85,000 transac