The Bank of England’s decision to hike interest rates to a 15-year high is set to see mortgage payments rise for millions of homeowners.

On Thursday 2 February, the Bank of England announced that it was raising the base rate of lending to 4%. 

According to new data, a January spike in AML activity across the property sector suggests that those predicting the catastrophic decline of the market in 2023 have done so both prematurely and incorrectly.

A growing number of people are struggling to find homes to rent, as the supply-demand imbalance in the PRS continues to widen, new figures show.

LONDON (Reuters) - The Bank of England looks on course to raise its main interest rate by half a percentage point to 4% on Feb. 2, but economists will be looking keenly for signals that this 10th consecutive rate rise will be one of the BoE's last.

The risk of a recession striking the UK is gathering pace experts warned today as still extremely high inflation and collapsing confidence has resulted in the economy going from “bad to worse”.

A bid by a landlord to get the Government to reinstate tax relief allowing mortgage interest to be set against rental income has been shot down after the petition reached 28,000 signatures.

The demand for rental property is still outpacing supply and rent growth is still rising – so the sector starts 2023 very much like it ended 2022, one property expert says.