Barclays and Virgin Money Adjust Mortgage Rates to Stay Competitive

In a bid to maintain competitiveness in the market, Virgin Money and Barclays have recently made adjustments to their mortgage rates,
impacting both residential and buy-to-let customers. Virgin Money has taken the initiative by reducing selected residential and buy-to-let mortgage rates,
offering cuts of up to 0.65 percentage points. This reduction extends to broker-exclusive remortgage rates and deals catering to larger loans (£1 million plus).
Notably, buy-to-let deals have seen the most significant rate cuts of up to 0.65 percentage points in this latest round of reductions by Virgin Money.
Two-year fixed rates with a 1% fee start from 4.64% (60% LTV), while two-year deals with a 3% fee are reduced by 0.45 percentage points to 3.87%.
Five-year buy-to-let rates with a 1% and 3% fee now start from 4.34% and 3.87%, respectively.

Barclays is also joining the fray, significantly reducing the cost of a wide range of its fixed-rate mortgage products for both new and existing residential
and buy-to-let borrowers. This move comes in response to substantial rate cuts by major lenders since the beginning of the year. For new Barclays customers,
rates will be cut by up to 0.5 percentage points, while existing customers will see fixed-rate switcher products reduced by up to 0.6 percentage points.
The offering includes a two-year fixed rate for residential remortgage at 4.12% with an £899 fee (75% LTV), a two-year fixed rate for home purchase at 4.09%
with an £899 fee (60& LTV), and a five-year fixed rate remortgage at 4.47% with a £999 fee (60% LTV). For new buy-to-let customers, Barclays is introducing
a two-year fixed rate for purchase at 5.68% with a £2,295 fee (75% LTV) and a five-year fixed rate for remortgage at 4.60% with a £1,795 fee (75% LTV).

Encouraging Start to the New Year as Buyer and Seller Momentum Surges

The property market is showing promising signs of vigor as we step into the new year, with both buyers and sellers displaying increased activity.
New seller asking prices have experienced a notable month-on-month rise of 1.3%, equating to £4,571. This marks the most substantial
December-to-January increase since 2020, though overall average prices remain 0.7% lower than the same period last year. Noteworthy trends
include a 15% surge in new properties entering the market for sale, a 5% uptick in buyer demand, and a significant 20% increase in the number of sales
agreed during the first week of the year. Rightmove's data reflects a surge in Mortgage in Principle applications, with nine out of its ten busiest days
occurring since Christmas, indicating an early commencement of 2024 moving plans. Furthermore, the average 5-year mortgage rate has seen a
decline to 4.86% from its peak at 6.11% in July 2023, suggesting a more stabilized mortgage market after the volatility experienced since September 2022.
The article underscores the importance of competitive pricing from sellers, given that the number of new properties entering the market is surpassing
the rise in demand. Despite these positive indicators, the property market advocates for cautious pricing strategies, acknowledging the impact of
elevated mortgage rates and the broader cost-of-living challenges on buyer's spending power.

Resounding success: Fraser & Co’s leadership team event in Singapore sets the stage for biannual exclusive engagements

We are delighted to report that the recent exclusive event, “Meet Fraser & Co’s Leadership Team in Singapore,” was an overwhelming success.
The turnout was impressive, and we had the privilege of meeting with numerous esteemed Singaporean landlords who engaged in personalised
one-on-one sessions with David Parris, Operations Director, and Gemma Hyland, Lettings Manager. The insightful discussions, addressing of queries,
and exploration of opportunities to optimize property investments created a dynamic and fruitful environment. The positive feedback we received from
attendees was truly gratifying, confirming that this initiative was well-received. Due to the remarkable success, we are excited to announce that we will
be making this exclusive opportunity a regular occurrence, scheduling these events every six months. We extend our heartfelt gratitude to all who participated,
and we look forward to continued collaboration in our shared commitment to property excellence.

Fraser & Co: Your key to informed property valuation

In the dynamic real estate landscape of 2024, understanding your property’s true market value is crucial, whether for letting or selling. Fraser & Co stands
out as the go-to choice for homeowners seeking accurate and personalised property valuations. With a proven track record in navigating local market nuances,
Fraser & Co’s expert team employs a comprehensive analysis of supply, demand, and pricing data. This ensures precise property assessments that align with
current and anticipated market trends. Strategic pricing is more vital than ever, and Fraser & Co’s forward-looking approach helps homeowners position their properties competitively. Their commitment goes beyond numbers, offering valuable insights and collaborative expertise to set optimal asking prices for those selling in 2024.

For landlords, Fraser & Co’s valuations provide a detailed understanding of rental potential, empowering informed decision-making for attracting tenants and
optimizing returns. As mortgage rates stabilize and market choices expand, a precise property value understanding becomes a strategic advantage.
Fraser & Co’s accuracy, coupled with a client-centric approach makes them the ideal partner for homeowners seeking to maximize property value in 2024’s ever-evolving real estate scenario.

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