Welcome to the Censeo Index January 2025
Censeo Financial
Award-winning mortgage broker specialising in the UK affordable home ownership market
Facts and figures
As a major influence in the shared ownership and new build market, we have brought together all the leading house price indices under one roof to give you the latest average home price plus the percentage change.
Since November 2013 we have been using the Censeo Index? to give a mean value for changes in house prices across the UK. This benchmark is an average of the five leading indices used by the financial sector and is now proving invaluable for Housing Associations and journalists to give an up-to-date picture of what is happening in the property market.
Over the past month, the UK mortgage market has seen a mix of falling rates and slight adjustments, as lenders compete to attract buyers amid economic uncertainty. Average two- and five-year fixed rates have dipped slightly, with many products targeting borrowers with smaller deposits.
In the shared ownership market, lenders have made modest rate changes, with small increases across fixed-rate options for 90% and 95% LTV products. Demand for shared ownership remains steady, driven by affordability concerns and limited deposit requirements. While higher borrowing costs persist compared to earlier periods, the market is buoyed by sustained interest from first-time buyers seeking affordable routes onto the property ladder.
With continuing volatility in the mortgage market, it is critical you speak to our experienced adviser team who will have access to the very latest rates from lenders so will be able to recommend the best deals for your personal needs. Call us on 0207 090 7290 or email us on [email protected]
The Censeo Index January 2024
The Censeo Index
Mortgage switch – Re-mortgage or product transfer?
Censeo is committed to a long-term financial relationship with our customers. As part of our award-winning service, we are there to ensure your mortgage meets your needs and goals. We aim to help you:
Call us on 0207 090 7290 or email us at [email protected] and one of our specialist advisors will be happy to assist you secure the best mortgage rate for your personal needs.
Mortgage News
Some good news this month. According to Rightmove, mortgage rates are falling despite economic uncertainty, with average two-year fixed rates now at 4.97% and five-year fixed rates at 4.75%. The property portal reports the biggest drops are in products for those with smaller deposits, as lenders compete for buyers ahead of an expected interest rate cut in February.
Elsewhere, Virgin Money announced it was shaking up its mortgage range from January 21st, with new products and rate tweaks. Highlights include an 80% LTV two-year fixed at 4.69% (￡895 fee) and fee-free at 4.95%, plus a five-year fixed at 4.51% (￡895 fee) or 4.62% fee-free. Rate hikes kicked in on January 20th, affecting products like the 95% LTV fee-free five-year fix, up 0.12% to 5.31%. Other small increases apply across remortgage and Shared Ownership options.
Moneybox reported an 82% year-over-year increase in Mortgage in Principle applications during December 2024, highlighting a notable rise in buyer confidence despite economic uncertainties. This surge reflects growing interest from prospective homebuyers, potentially driven by stabilising rates and a desire to secure deals ahead of potential market changes.
Housing News
Turning to property prices, Halifax projects UK house prices to rise by up to 3% in 2025, citing limited property availability and sluggish new home construction. Higher mortgage rates are deterring some homeowners from selling, further constraining supply. The Prime Minister plans to reform the planning system to expedite new home construction and bolster economic growth. Nationwide also forecasts a 2% to 4% increase in house prices for 2025.
Nationwide has highlighted that while wage growth and falling house prices have slightly improved mortgage affordability, many borrowers remain under significant financial pressure. With repayments still taking up a large chunk of household incomes, affordability remains stretched, especially for first-time buyers navigating higher interest rates and living costs.
领英推荐
Finally, the UK construction sector saw a modest 0.4% growth in November 2024, according to the Office for National Statistics, signalling resilience in parts of the industry. However, housebuilders continue to struggle due to high mortgage rates, reduced buyer demand, and restrictive planning regulations, which are limiting the pace of new housing developments despite growing demand.
Fee-free Mortgages for NHS Heroes
We are continuing to offer fee-free mortgage broker service to any NHS staff, in recognition of the incredible work they have done keeping us all well over the coronavirus pandemic.
Anyone who works for an NHS Trust is eligible. Register at www.censeo-financial.com/nhs? and enter your details. Once you have found a property, get in touch with us at [email protected] and help you find the best mortgage for your personal needs - we will offer our mortgage advice for free.
Giving Back
Each year, Censeo donates a contribution from every completed mortgage to charity. In 2024, we are proud to continue supporting two organizations:
Both charities do phenomenal work supporting homeless young people, helping them find accommodation and rebuild their lives. We remain committed to helping these incredible causes throughout the year.
Social Media
If you are looking to buy or already own it’s worthwhile following Censeo on social media where we post all the latest on the housing and mortgage market Please follow Censeo Financial on Instagram, Facebook, and LinkedIn.
?Stay on Top of Your Credit with CheckMyFile
#AD Your credit score plays a vital role in securing the best mortgage rates and deals. At Censeo, we recommend keeping a close eye on your credit profile to ensure you’re in the best position when applying for a mortgage. CheckMyFile is a powerful tool that provides you with a comprehensive view of your credit report, combining data from Equifax, Experian, and TransUnion—all in one easy-to-read report.
By regularly monitoring your credit report, you can:
Sign up for CheckMyFile and receive your first 30 days for free.
Try it FREE for 30 days, then ￡14.99 a month - cancel online any time with Checkmyfile
It's an excellent way to stay informed and protect your financial health.
Start your credit check today and be prepared for your mortgage journey. Visit www.checkmyfile.com to get started.
Censeo Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. Censeo Limited is registered in England and Wales, company registration number 06453977, the Registered Address 11b Newton Court, Pendeford Business Park, Wolverhampton, WV9 5HB. We will charge a broker fee of up to ￡495, payable on application. The amount we will charge is dependent on the amount of research and administration that is required. Your home may be repossessed if you do not keep up repayments on your mortgage. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. The Financial Conduct Authority does not regulate all Buy to Let mortgages.
0207 090 7290 | www.censeo-financial.com | [email protected]