Business
‘Welcome signs of positivity’ for the housing market – rates drop below 5pc
JEREMY Hunt’s Autumn Statement is delivering “welcome signs of positivity” for the housing market, a property association says.
The National Association of Property Buyers say the Chancellor’s recent fiscal announcement is making mortgages a more attractive option for many prospective buyers.
Spokesman Jonathan Rolande said: “A steadier hand on the tiller means mortgage rates are dropping. It seems strange that this could be happening at the same time as The Bank of England is increasing base rates, but these are strange times.
“The mortgage market spiked far higher than the BofE would have expected as the rates offered by lenders hit new highs following the botched Kwasi Kwarteng Budget. Now we are seeing more fiscal responsibility, and the markets are reacting to the fact that Britain looks like a safer home for money once again.
Mr Rolande added: “Rates, especially those fixed for two or five years, are dropping. The weekend saw rates drop below 5% for the first time since the beginning of October. The best 5 year fixed is now around 4.84% with Platform mortgages.
There is certainly an improvement in the market but we should be under no illusions that things will return to ‘normal’ any time soon. The BofE is likely to increase base rates again soon, putting more pressure on lending percentages. The market is showing a number of signs that it is slowing, with prices dropping. However, the doomsday scenario that looked possible, probable almost – where rates would hit double digits – seems to have been averted for now.
If rates hit 4% soon, in conjunction with some better value property that is hitting the market, this will be a golden time for buyers to snap up a dream home. However, fear of possible further drops in values will deter many from doing so. We shall see whether that is a wise decision or not.”
The comments come days after it was warned that homeowners face the biggest hike in mortgage interest payments ever.
Thousands with a typical outstanding home loan could seeing their monthly charges doubling next year to almost £500.
The shock rise was predicted after analysis of figures published by Treasury watchdog the Office for Budget Responsibility (OBR) and follows attempts by the Bank of England to tame soaring inflation by hiking interest rates – leading to rises in mortgage interest rates.
The Liberal Democrats, who carried out the analysis, calculate that for a typical household with an outstanding mortgage of £236,000, the hike next year would mean monthly interest payments doubling to £474 – an extra £2,851 a year.
The news will fuel fresh fears that the cost of living crisis will lead to properties being repossessed.
Last night Lib Dem Treasury spokesman Sarah Olney said: ‘Homeowners are paying the price for the Conservative Government crashing the economy.
‘The mortgage ticking time bomb has only seconds left.
‘This is simply unmanageable with the tax rises announced by the Chancellor.’
The party wants the Government to scrap a planned reduction on surcharge imposed on the banking sector, and use the money to set up an emergency mortgage protection fund to help families seeing their repayments soar.
Business
Pembrokeshire Lydstep Beach Village development refused
A CALL for an extra sign advertising a Pembrokeshire holiday park, adding to exiting unauthorised ones, which planners say would create “visual clutter and intrusion” and a distraction to drivers, has been refused.
In an application to Pembrokeshire Coast National Park, permission was sought, through Lakeside Signs Limited, for an additional sign advertising Haven’s Lydstep Beach Village, near Tenby, the sign proposed for North Lodge where the holiday park joins the main road.
Pembrokeshire County Council’s highways authority raised no concerns regarding the specific location of the sign, but said “there remains a broader concern regarding the cumulative impact of signage along this section of highway,” adding: “The increasing proliferation of signs in this location has the potential to create a visually cluttered environment, which may distract drivers and, in turn, give rise to road safety implications.”
A Park officer report recommending refusal said: “Currently, there are eight flagpoles, one A-frame banner type sign, one pole mounted panel sign, and a further panel sign, located behind the stone wall on the western side of the park’s entrance. None of these advertisements have the benefit of advertisement consent.”
It added: “The increasing number of signs in this location has the potential to create a distraction to drivers, which may result in road safety implications. In addition, the proliferation of signage would create clutter that would result in visual intrusion in this countryside location affecting amenity. As such, the recommendation is to refuse.”
It went on to say: “Whilst it is not deemed that the proposed advertisement would result in harm being caused to the specific special qualities of this area, there are concerns that the display of this advertisement would, along with the remainder of the advertisements, which are unauthorised, result in a proliferation of advertisements, which in turn would cause visual clutter and intrusion.
“This is especially problematic in a countryside location where development is strictly controlled. Should the existing signage be consolidated and rationalised, the Authority may support the proposed sign, however, currently, any additional signage would not be deemed appropriate.”
The application was refused on the grounds that it would, along with the exiting signage, “result in visual clutter and intrusion which would detract from the visual amenity of this countryside location, and would result in potential distraction to drivers, which in turn would rise to road safety implications”.
Business
The Cheesecake Guy store could be coming to Saundersfoot
SAUNDERSFOOT’S Coal Building interpretation centre could soon host the third store for Welsh cheesecake business The Cheesecake Guy Ltd, in plans before the national park.
In an application to Pembrokeshire Coast National Park, Craig Taylor of Merthyr Tydfil-based The Cheesecake Guy Ltd seeks a change of use of part of Saundersfoot’s Cambrian Terrace Coal Building interpretation centre to create a small retail unit.
On its website, The Cheesecake Guy says of its business and products: “Established in 2019, The Cheesecake Guy is all about delivering indulgent, handcrafted cheesecake desserts with a twist. While we offer a range of sweet treats, our specialty — and customer favourite — is the signature cheesecake jar.
“Made with quality ingredients and packed with rich, creamy layers, our jars are the perfect dessert for any occasion. Whether you’re treating yourself or sharing with others, The Cheesecake Guy brings a spoonful of happiness to every bite.”
While no supporting statement has yet been published for the Saundersfoot proposal, the application says the scheme would employ two full-time members of staff, operating 10am-6pm Mon-Sat, and 10-5 on Sundays and bank holidays.
It says the proposed site is currently a mixed-use retail and gift shop, having previously been used as office space.
It adds: “This is a space within a building that is still trading, the space we are wanting a change of use was last used by Persimmon Homes as an office space.”
Of the scheme itself it says it will involve “retail sales of pre-prepared desserts and merchandise,” adding there will be “no on-site manufacturing or heavy processing,” with “equipment limited to display fridges and freezers”.
If approved, the Saundersfoot site would be the third outlet for The Cheesecake Guy, with sites in Merthyr, and, more recently, Newport Market.
After that store opened following redevelopment of Newport’s Victorian market, Craig Taylor, of The Cheesecake Guy, said: “We are very excited to be part of the new development in Newport Market alongside some other amazing small businesses.
“We feel this is definitely the next step in the right direction after our Merthyr Tydfil store taking off so well.”
For its Newport site, The Cheesecake Guy says: “We specialise in creating a wide variety of cheesecake desserts that cater to all tastes. Our menu features popular favourites that have won the hearts of many, alongside exciting new creations designed to keep your taste buds satisfied.
“Whether you’re a classic cheesecake lover or an adventurous foodie, we promise a cheesecake experience like no other. Each cheesecake is made with the utmost care, ensuring a rich, creamy texture and a burst of flavour in every slice (or jar!).”
The Saundersfoot proposal will be considered by park planners at a later date.
Business
Pembrokeshire Broad Haven holiday park works refused
A DEVELOPMENT call for a Pembrokeshire holiday park has been turned down by Pembrokeshire Coast National Park.
In an application to park planners, Broad Haven Holiday Park, through agent Gerald Blain Associates, sought permission for the relocation of a boat storage area, vehicle shed and play area along with rewilding of adjoining fields at Broad Haven Holiday Park, Broad Haven, near Haverfordwest.
The application was supported by local community council The Havens.

However, an officer report recommended refusal.
Detailing the application, it said: “The proposal relates to the extension of an existing static caravan holiday site into adjacent undeveloped woodland to accommodate the relocation of boat storage, a vehicle shed, and a children’s play area, together with associated ecological mitigation measures. No increased pitch numbers are proposed.
“The development site has already undergone some site clearance, resulting in the removal of approximately 1,000 square metres of woodland.”
It went on to say: “The existing site is already intervisible with the coast, and the proposed relocation of boat storage would likely increase its visibility rather than reduce it. Without supporting evidence in the form of a Landscape and Visual Impact Assessment (LVIA) or Zone of Theoretical Visibility (ZTV) demonstrating that the development would be visually contained, the proposal appears contrary to the guidance contained within the SPG and the objectives of Policy 41.
“As a result, the proposed development is considered to detract from the special qualities of the National Park in this location and would be detrimental to the quality and character of the landscape character area in which the site sits, and as such does not comply [with policies].”
The application was refused on grounds including it being sited within previously undeveloped land within a flood zone, a lack of information on potential impacts on biodiversity, and it is “considered to detract from the special qualities of the national park in this location and would be detrimental to the quality and character of the landscape character area in which the site sits”.
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