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Property website Rightmove reveal the findings of their latest house price index

HSB, Barclays and TSB announce several new deals

Recovery capacity concerns raised by the PRA

New business increases by 8% in volume and 14% in value

TSB has implemented reductions on selected residential fixed mortgage rates, effective immediately, with cuts of up to 0.15 percentage points, according to a report. This adjustment arrives as the Bank of England opted to maintain the Bank Rate at 5.25% yesterday.

Experts warn that keeping interest rates at their peak for another month risks causing the property market to 'stagnate' this winter. The pain for homeowners is expected to linger as the mortgage market struggles following the Bank of England's decision to hold interest rates at a 16-year high, despite a glimmer of hope on the horizon.

The average home price in the UK edged up by less than £200 last month to reach £288,949, marking a marginal 0.1% increase, contrasting with March's 0.9% decline, the first in six months. Annually, prices saw a 1.1% rise in April, a notable uptick from the previous month's 0.4% growth, largely attributed to weaker price increases recorded last year, according to Halifax.