Interest rates remain frozen – mortgage industry reaction
May 2, 2019
The Bank of England has made the decision to keep interest rates frozen at their current level.
Managing Director of One77 Mortgages, Alastair McKee, commented:
“In the current climate of Brexit uncertainty, a freeze in interest rates was one thing that we could bet on.
While wider market conditions remain tough, this further assurance of continued mortgage affordability should help boost confidence in an otherwise beleaguered property market.
However, although today’s news will help stimulate buyer sentiment, fuelling buyer demand is a temporary plaster over the issues surrounding the UK market and we still need to address the wider issue of supply to improve its long-term health.”
You May Also Enjoy
Breaking Property News 30/6/26
Daily bite-sized proptech and property news in partnership with Proptech-X. 8% of commercial real estate investors and owners have started AI pilots – the reasons why most fail Only 5% of CRE operators achieve most of their AI program goals According to JLL’s 2025 Global Real Estate Technology Survey of more than 1,500 senior…
Read More 
What the average asking price buys across Great Britain
New analysis from the UK’s largest property platform Rightmove reveals what buyers can get for the current average asking price of a home, at approximately £378,000 The analysis shows that in some areas, buyers can find five-bedroom homes for around the national average asking price, whereas in other areas it is only a flat or studio that buyers can afford There are clear…
Read More 
3 in 5 homes listed for sale since January are still on the market
Higher mortgage rates and political uncertainty hits housing sales with three in five homes since January still searching for a buyer Three in five homes listed for sale since January are still on the market – with sales agreed over the last 4 weeks -7% lower than last year Buyer demand has also fallen…
Read More 
Mortgage approvals down 11% in May
The latest mortgage approval data from the Bank of England show that: – Mortgage approvals on house purchases for May sat at 56,205 down (-14.9%) from 66,034 seen in April. Approvals are down (-10.8%) when compared to the 62,980 seen in May 2025. This annual decline was expected due to wider political and economic uncertainty;…
Read More 
Money and Credit – May 2026
Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals decreased to £2.9 billion in May, from £4.4 billion…
Read More 
More than 5,300 land listings currently available in Britain
The latest research from LandSale, the property portal dedicated to land and rural property, has revealed that there are an estimated 5,373 land listings currently available across Great Britain, with almost a quarter, 24.9%, listed in the past 30 days. The analysis examined all land-only listings currently being marketed across Great Britain. LandSale assessed the…
Read More