UK House Prices Continue To Slump

The asking price for UK house prices was reduced for the third month in a row in September according to Rightmove plc. The UK property market has suffered from the distractions of the Olympics. Whilst this does not bode well for the British economy, it represents an opportunity for housebuyers and anybody looking to remortgage. Interest rates remain at rockbottom and the banks are providing some relatively competitive mortgage rates on the market.

Under the current climate of low interest rates, businesses and individuals are finding it beneficial to pay down their debt rather than invest their finances.