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As expected, the Bank of England has raised interest rates by 0.25% to 4.5%. This will have further consequences to home-owners as lenders anticipated the rise by increasing their rates.

The Bank of England is expected to put up interest rates on Thursday to their highest level for 15 years in a bid to bring down inflation.

Skipton Building Society has launched a 100% mortgage for tenants which will enable them to get onto the property ladder without a deposit.

The five year fixed deal comes with a 5.49 per cent rate and a maximum term of 35 years. Buyers will be able to borrow up to 4.49 times their income up to a maximum total loan of £600,000.

The mortgage is open to all first-time buyers who currently rent and pass the lender's affordability criteria, allowing them to to borrow up to 100 per cent of the value of the property.

The number of houses for sale has reached its highest level in 27 months, new figures show.

Many put their moving plans on hold after mortgage rates spiked to 14 - year highs and house prices started to fall at the end of last year. But new figures from Propertymark, which represents more than 18,000 estate agent members, show the housing market is bouncing back. Estate agents typically reported having 35 homes for sale per branch since January2021. A year ago, there were just 20 properties on sale per branch.

The number of sales being agreed is now widely back in line with the average number agreed in 2019 before the pandemic, estate agents say.

Propertymark says the number of house viewings also increased 21 pc in March compared with February, while the average number of new buyers registering per branch has increased by a third since the beginning of the year.

l.purkiss  Daily Mail

The Bank of England has raised interest rates by 0.25% to 4.25% - the highest since 2008.

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  • We are 100% satisfied and cannot recommend Fox Estates strongly enough. The team were extremely professional, friendly, and approachable from the minute we asked for a valuation right until completion. Their knowledge of the local area was spot on and made the difference on the sale of our house. We are grateful to Chris in particular for his attention to detail, responsiveness to emails and a willing pro-activeness to help keep things moving. I would not hesitate in recommending Fox Estates to my friends and family..

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  • I instructed Chris to sell my house and when he found a buyer the sale went through in just over 6 weeks. His service was excellent and I would recommended him to anyone. A few months later my mum instructed him to sell her house and again he found a buyer and the sale progressed to completion without a problem. Chris is very knowledgeable and professional and he will give you a very helpful, friendly and attentive service. If you are thinking about buying or selling I would suggest you give him a call

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  • AFTER 4 MONTHS OF AGGROVATION WITH ANOTHER ESTATE AGENT I APPROACHED CHRIS ABOUT 2 MONTHS BACK, I EXPLAINED THAT I HATED ESTATE AGENTS, CHRIS HAS GONE A LONG WAY TO REPAIRING THAT IMAGE HAVING DONE A SPLENDID JOB IN SELLING MY HOUSE WITHIN 3 DAYS THE WHOLE PROCESS TOOK 6 WEEKS TO THE POINT I HAD MOVED EXCELLENT ATTITUDE AND A TRUE PROFESSIONAL

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