{"id":135014,"date":"2023-03-01T19:19:02","date_gmt":"2023-03-01T12:19:02","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgage-market-contracts-for-fifth-month-after-liz-truss-mini-budget\/"},"modified":"2023-03-01T19:29:13","modified_gmt":"2023-03-01T12:29:13","slug":"uk-mortgage-market-contracts-for-fifth-month-after-liz-truss-mini-budget","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgage-market-contracts-for-fifth-month-after-liz-truss-mini-budget\/","title":{"rendered":"UK mortgage market contracts for fifth month after Liz Truss mini-budget"},"content":{"rendered":"


\nApprovals at lowest since 2009 \u2013 bar during Covid lockdown \u2013 as demand for new homes continues to fallBritain\u2019s mortgage market has contracted for a fifth month in a row, official figures show, as the jump in interest rates that followed Liz Truss\u2019s September 2022 mini-budget continued to trigger a collapse in demand for new home loans.The Bank of England said the drop in January took the number of mortgage approvals to the lowest level since 2009, which followed the 2008 financial crash, excluding the dramatic drop after the first Covid-19 lockdown in 2020. Continue reading…
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\nSource : theguardian.com
\nRead more…UK mortgage market contracts for fifth month after Liz Truss mini-budget<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Approvals at lowest since 2009 \u2013 bar during Covid lockdown \u2013 as demand for new...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-135014","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-z7E","jetpack-related-posts":[{"id":131303,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-fall-for-first-time-in-15-months-after-liz-truss-mini-budget\/","url_meta":{"origin":135014,"position":0},"title":"UK house prices fall for first time in 15 months after Liz Truss mini-budget","date":"November 1, 2022","format":false,"excerpt":"\r Average price of a property drops to \u00a3268,282 in October as interest rate rises hit affordabilityUK house prices fell for the first time in more than a year in October, as the Liz Truss government\u2019s mini-budget wreaked havoc on the housing market, pushing mortgage rates sharply higher.The average price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131852,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgage-approvals-for-october-fall-10-after-mini-budget\/","url_meta":{"origin":135014,"position":1},"title":"UK mortgage approvals for October fall 10% after mini-budget","date":"November 29, 2022","format":false,"excerpt":"\r Homebuyers face higher interest costs, as lending figures slump to lowest monthly total since June 2020The chaos in the mortgage market that followed Kwasi Kwarteng\u2019s now infamous mini-budget led to a 10% fall in the number of mortgage approvals during October.According to the latest figures from the Bank of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/labour-says-tory-mortgage-penalty-costs-homeowners-extra-7000-a-year\/","url_meta":{"origin":135014,"position":2},"title":"Labour says \u2018Tory mortgage penalty\u2019 costs homeowners extra \u00a37,000 a year","date":"June 11, 2023","format":false,"excerpt":"\r Opposition finds fallout of Liz Truss mini-budget has raised average mortgage interest payments by \u00a3150 a week in two yearsHomeowners are being hit with a \u201cTory mortgage penalty\u201d of \u00a37,000 a year with interest rates triple what they were two years ago, according to Labour.Pat McFadden, shadow chief secretary\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139279,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-lost-about-100000-one-year-on-britons-count-cost-of-the-mini-budget\/","url_meta":{"origin":135014,"position":3},"title":"\u2018We lost about \u00a3100,000\u2019: one year on, Britons count cost of the mini-budget","date":"September 22, 2023","format":false,"excerpt":"\r People who lost money for care home fees and others facing rocketing mortgage costs after Truss\u2019s gambit share their storiesThe chancellor, Kwasi Kwarteng\u2019s speech at the Commons dispatch box on 23 September last year, and his refusal to publish the Office for Budget Responsibility\u2019s autumn 2022 forecast on the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":130064,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-do-tory-mps-think-of-liz-truss-a-toxic-bomb-that-could-sink-the-party-katy-balls\/","url_meta":{"origin":135014,"position":4},"title":"What do Tory MPs think of Liz Truss? A \u2018toxic bomb\u2019 that could sink the party | Katy Balls","date":"September 29, 2022","format":false,"excerpt":"\r Less than a month in, the PM\u2019s political capital is draining away. And next week\u2019s party conference is unlikely to offer any reliefOf all the dire numbers that Tory MPs have been confronted with this week, one has stuck in their mind: 17. It\u2019s the size of Labour\u2019s poll\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133425,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/labour-targets-new-swing-voter-middle-aged-mortgage-man\/","url_meta":{"origin":135014,"position":5},"title":"Labour targets new swing voter \u2018middle-aged mortgage man\u2019","date":"December 22, 2022","format":false,"excerpt":"\r Party sees identifying 50-year-old male home-owners as key to electoral successYou\u2019ve met Mondeo Man and Worcester Woman, now meet the key swing voter Labour hopes will win them the next election: middle-aged mortgage man.Party insiders say they are being ruthless about targeting exactly the kind of voters they believe\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/135014"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=135014"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/135014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=135014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=135014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=135014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}