Entertainment
Updated UK mortgage rates hit lowest since september 2022
Mortgage rates in the UK have touched their lowest mark since early September 2022, the first time the average five-year fixed rate has dipped below 5% since May 2023.
Citing new data from Moneyfacts, The Guardian reported that the average fixed UK mortgage rates for two and five years have fallen to 4.86% and 4.91%, respectively.
Why UK mortgage rates hit lowest since september 2022?
This steep low in UK mortgage rates is attributed to lenders’ growing confidence that the Bank of England will soon lower interest rates from 4% to 3.75%.
The Moneyfacts Average Mortgage Rate plunged from 4.99% to 4.91% month-on-month, and it has dropped by 0.53% year-on-year from 5.44% in December 2024.
Rachel Springall, a finance expert at Moneyfacts, noted that November was particularly favourable for fixed-rate cuts, with the average two-year fixed rate facing its largest monthly decline since August. The five-year fixed rate also recorded its deepest fall in over six months.
As a result, the average shelf-life of a UK-based mortgage product has fallen to just 18 days, while the number of available mortgage deals has risen to over 7,000.
This positive trend in UK mortgage rates reflects a shifting landscape in the UK housing market, providing potential homeowners with easier borrowing conditions.
Welsh singer, a much loved artist who left an impact on the industry, has passed away after spending more than 60 years in music.
Tony Jones, best known as one half of the famous duo Tony and Aloma, has died at the age of 86.
Tony was a familiar and cherished name in Welsh music and for decades, he performed all over Wales and other places as well, appearing in cabaret shows, television programmes and live concerts.
However, Tony and Aloma became hugely popular during the 60s and 70s, winning the hearts of fans with their music.
The duo sold more than 100,000 albums and were known for hit songs including Mae Gen i Cariad and Dim Ond Ti a Fi.
After eight years apart, Tony and Aloma reunited back in the mid 1980s, bringing joy to fans who followed their journey for years.
Aloma, meanwhile, shared an emotional message through a family member, saying: “Thanks you all for your sympathy and your kind words, without you all there would be no Tony and Aloma.”
Musicians Iona and Andrew Boggie also paid tribute, calling him “a great songwriter, a wonderful voice and a very lovely person.”
Furthermore, Sain record company described Tony as “a friend of Sain for decades” and thanked him for lasting contribution to Welsh music.
The Duke of Edinburgh touched down in the United Arab Emirates on 31st January, for a whistle-stop mission that’s equal parts youth inspiration and environmental eye opener.
On the first day of his visit, Prince Edward well known as the global champion of the Duke of Edinburgh’s International Award met with ambitious young participants from The British School Al Khubairat and Gordonstoun School at Jubail Mangrove Park in Abu Dhabi.
The mangrove reserve, part of a wider UAE push to protect coastal ecosystems and biodiversity, is also a new kind of classroom for youth learning and stewardship.
As Chairman of the Award Foundation, he used the occasion to celebrate how programmes like the DofE empower young people with confidence.
Meanwhile, Gordonstoun’s involvement carries special weight, the Scottish school is where the Duke’s father, Prince Philip, helped shape the Award’s ethos and where the programme was born.
After engaging with students and mentors among the mangroves, he went on to visit the Zayed National Museum to celebrate UAE’s history before joining a dinner hosted by Britain’s Ambassador to the UAE, His Excellency Edward Hobart, in Dubai.
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