The UK housing market is facing its largest annual decline in prices since the financial crisis, with a drop of 3.1% on an annual basis in March 2023, according to Nationwide. The building society also reported that the average house price in the UK is now £257,122, and that nine out of the 13 regions it measures saw house price falls in the first quarter of 2022. Scotland was the worst-performing region, with house prices down 3.1% annually, while the West Midlands saw the best performance with a 1.4% increase.

Homeowners may be worried about what this means for them, but Hana Capital has a solution. The firm, known for its speed and positivity, provides fast loans and no credit committee, with bridge loans and mortgages that can be processed in just one to two weeks. These loans are secured against the borrower’s investment property and are only used for short periods of time. For example, they can be useful in cases like auctions where properties must be completed within 28 days. Borrowers can come to Hana Capital to lend fast, then secure long-term financing and repay the loan.

The current drop in house prices can be attributed to a variety of factors, including weak consumer confidence, high inflation, and stretched housing affordability. Mortgage rates are also above the lows seen at this point last year, adding to the burden for buyers. However, the market slowdown has not been as severe as expected, with transactions continuing at a steady pace.

The Guild of Property Professionals chief executive Iain McKenzie notes that sellers are becoming more open to negotiating with buyers on asking prices, potentially skewing the data. Despite the decrease in prices, confidence is returning to the property market following the mini-budget last September, and further improvements are expected as long as inflation is brought under control this year.

Hargreaves Lansdown personal finance expert Sarah Coles suggests that buyers have been hit hard by inflation, jacked-up mortgage rates, a stagnating economy, and the threat of worse to come. She notes that buyer demand has fallen for 10 consecutive months, and that sellers are having to compromise on prices in order to sell their properties. However, she also suggests that there is hope on offer from the mortgage market, with rates expected to fall again as inflation decreases.

In this context, Hana Capital’s fast loans and mortgages could be the perfect solution for those looking to secure a property quickly and take advantage of the current market. With their focus on speed and positivity, Hana Capital can help borrowers secure the financing they need to buy the property they want, even in a falling market. Visit the website for more details.