Shrinking Buy-To-Let Market Triggers Mortgage Rate War

The rapidly shrinking buy-to-let market is driving lenders to a mortgage price war as they compete for dwindling demand from borrowers. The Post Office is the latest lender to cut rates on a swathe of deals. Its new two-year fixed rate of 1.33pc is the lowest ever offered, according to Moneyfacts, the comparison site. The lender now has the lowest interest rate in four of Moneyfacts seven categories and the joint lowest in another. It follows similar moves by other lenders, including Nationwide Building Society, to sharply reduce rates. Read more on the Daily Telegraph website.

20% of UK Households Home to Children Sharing Bedrooms

Children are sharing bedrooms in 20% of UK households, new research has revealed. According to Post Office Mortgage’s 'Step-up' report, in 9% of homes in which children are bedroom-sharing a lack of space is the cause. The report also reveals that the average size of a UK home has decreased dramatically over the last 90 years, from 1,647 sq ft to 925 sq ft. Over half (58%) of the parents polled wish their children had bigger rooms in which to study and play, and 63% would like to move in to a bigger house. Read more on 24dash.