Home sales will "jump" at the beginning of next year as people try to buy before the rise in stamp duty, one of the UK's biggest lenders has predicted.

The governor of the Bank of England, Andrew Bailey, has said he expects interest rates to fall gradually but warned consumers not to expect a return to near-zero levels.

Mortgage lenders' attempts to lure in first-time buyers have stepped up with the UK's biggest building society allowing some to borrow more.

The Bank of England's governor said a decision to cut interest rates is “an important moment in time” but warned people not to expect a sharp fall in the coming months.

People buying a house for the first time are spending about 37% of their take-home pay on mortgage payments, according to the Nationwide.

HSBC has joined two other major lenders in reducing mortgage rates following hints of a summer base rate cut by the Bank of England.

Hundreds of thousands of homeowners have taken out mortgages in the last three years that they will still be paying off into retirement, estimates suggest.

House prices fell in April as potential buyers continued to face pressure on affordability, according to the Nationwide.

Many homeowners could face higher monthly payments after some of the UK’s biggest lenders confirmed mortgage rate increases.

The average rate on a two-year fixed mortgage has fallen to its lowest level for nearly seven months as lenders compete for custom.

Mortgage rates on a typical two-year fixed deal have fallen below 6% for the first time since mid-June, according to Moneyfacts.

House prices rose again last month and there are signs that activity in the market is picking up, according to the UK's biggest mortgage lender.

House prices edged up 0.2% last month amid "encouraging signs" that mortgage rates are starting to come down, the Nationwide has said.

Mortgage rates should fall following the Bank of England's decision to keep its key interest rate on hold, brokers say.

Housing is more affordable than a year ago, according to the UK's biggest mortgage lender, but high mortgage rates mean it is still a stretch.

Some mortgage borrowers who only pay the interest on their loan are being "overly optimistic" about their ability to clear their final debt, data shows.

Halifax is set to sharply cut rates on some of its fixed mortgage deals, potentially easing pressure on some homeowners.

Customers at one of the UK's biggest housebuilders are taking out longer mortgages to make monthly repayments more affordable.

The number of mortgages approved in the UK for people buying a home rose sharply at the start of spring, Bank of England figures show.

Mortgage lending in February fell to its lowest level since 2016, excluding the pandemic, the Bank of England has said.