Tom Bill, head of UK residential research at Knight Frank, looks at the likely impact felt by borrowers coming off fixed-rate deals agreed some time ago on better terms.

Analysis of Land Registry data has revealed a clear geographical divide between the winners and losers of 2023's UK housing market.

The agreement follows the lender's announcement of a £250m bank funding line secured earlier this year.

The housebuilder stated that should market conditions remain stable they would be well-placed to see a return to growth in 2025.

The lender has also made further rate reductions on a selection of two and five-year fixed-rate products.

The gap between the monthly cost of homeownership and renting has shrunk to its lowest level since 2019.

Over four out of five tenants remain unaware of the Bill, its contents, and what the changes mean for them, according to new research.

The agents will now be listed on the Greater London Authority Rogue Landlord and Agent Checker database, following an investigation.

From 1st April this year, councils can charge a premium of 100% of a property's council tax bill on homes that have been empty for 12 months.

Buying a home in close proximity to a traditional gallery can see house price premiums in excess of 90%.