Atom bank comments on ONS Private Rent and House Price data

18 June 2025

Richard Harrison, head of mortgages at Atom bank:

“While house prices continue to grow, prospects for buyers may be improving. Rightmove has reported the number of homes for sale has hit its highest level in a decade, and that competition among vendors is leading to lower asking prices. However, it’s also leading to increased activity levels - Rightmove believes that May was the strongest month for agreed sales since March 2022.

“Mortgage rates are also a cause for optimism among buyers. The markets are expecting another couple of Base Rate reductions this year. Borrowers have already seen mortgage rates drop to levels last seen before the mini-Budget, with Moneyfacts finding that average fixed rates have fallen for four straight months.

“The key here is for lenders to ensure that all prospective buyers are able to access mortgage finance, and not just the select few. That means delivering flexible products which will deliver for those with imperfect credit ratings or small deposits. Home ownership must not be the sole preserve of those with access to the Bank of Mum and Dad or who have been fortunate enough to avoid payment challenges.”