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
Activate West Wales expands its team with appointment of Business Manager
ACTIVATE WEST WALES, which drives sports and wellbeing collaboration across Carmarthenshire, Pembrokeshire, Swansea and Neath Port Talbot, has appointed Marie Sture as its new Business Manager.
Marie brings more than 10 years’ experience across the Pembrokeshire countryside, conservation, and visitor experience sectors, having worked with organisations including the National Trust, Pembrokeshire County Council and Pembrokeshire Coast National Park Authority.
Her work background spans operational support, compliance, health and safety, finance and stakeholder engagement, alongside experience contributing to senior leadership and regional working groups.
Marie joins the Activate West Wales team, which is working closely with local authorities, health boards and wider sector partners to encourage cross-sector cooperation, to increase engagement in sport, physical activity and active recreation so that it can become part of normal everyday life for everyone nearly four months since it released its State of the Region report, which gave an insight into the sports participation in the region.
Marie, a native of Pembroke Dock, will play a key role in advancing Activate West Wales’ ambition to create healthier, happier communities across the region, regardless of age, background or ability.
On her appointment Marie said “I’m delighted to begin working with a team that is so committed to making a positive difference to people’s lives. Throughout my career across the conservation and visitor experience sectors, I’ve developed a strong passion for creating opportunities that support people’s wellbeing. I’m really looking forward to bringing that experience into this role and working with partners to help build healthier, more active communities across West Wales.”
Marie adds: “Spending time away from screens and being active can be incredibly rewarding. I love getting out with my children and supporting them to take part in sport, it’s been amazing to see how it’s boosted their confidence and helped develop their social skills. Even simple activities like this can bring a real sense of happiness and are so important for overall wellbeing.”
Jamie Rewbridge, CEO of Activate West Wales, said on Marie’s appointment: “We’re delighted to welcome Marie to Activate West Wales. She brings a wealth of experience working with local communities and partners, and we’re confident she will make a significant contribution to our efforts of making physical activity part of everyday life, for everyone across West Wales. Her appointment strengthens our ability to support healthier, happier communities across the region.”
Business
New showroom for car dealership approved by county planners
PLANS for a new showroom for a Pembrokeshire car dealership which has recently acquired a new Isuzu vehicle franchise, have been given the go-ahead.
In an application to Pembrokeshire County Council, Gareth Hughes Motors of 25 Burton Road, Sardis, through agent Hayston Developments & Planning Ltd, sought permission to replace a temporary canopy with fixed permanent mini-showroom.

A supporting statement said: “Gareth Hughes Motors is a family run enterprise, established in 1982. In order for the business to respond to the latest technological advancements, especially those related to the transition to hybrid and electric vehicles, additional space and different resources will be required.
“Approval of this application will assist in the delivery of these required resources, associated staff training and recruitment for the servicing of electric vehicles will also lead to the retention and provision of skilled employment.”
It says the extension will be designed to allow sufficient space to display Isuzu vehicles, an additional motor franchise recently acquired by the dealership, with no changes proposed to the existing access from the C3007 as the mini-showroom would take place to the rear of the site and replace an existing canopy structure.

It added: “The environmental impacts from the proposal are minimal as the replacement structure takes place on a concreted/bitumac surface which is currently used for the parking of cars. In addition, the design and use of materials complements that of the current showroom and repair shop and by the addition of a bird and bat box on the south-east of the proposed extension.
“The proposed new mini-showroom will accommodate a maximum of two vehicles and would take place to the rear/side of the site and would be constructed in materials which complement those of the existing showroom and service bays.
“Although Gareth Hughes Motors is located within a group of residential properties it is considered that there will be no significant negative impacts on those neighbouring properties because of their distance from the application site, the orientation of the buildings.
“The securing of an additional franchise at this Sardis site will both help secure the future of the existing staff and create opportunities for additional employment in the motor trade.”
The application was conditionally approved by county planners.
Business
The Cheesecake Guy Ltd plans withdrawn following community council objections
PLANS for what could have been the third store in the country for Welsh cheesecake business The Cheesecake Guy Ltd at Saundersfoot’s Coal Building interpretation centre have been withdrawn.
In an application to Pembrokeshire Coast National Park, Craig Taylor of Merthyr Tydfil-based The Cheesecake Guy Ltd sought 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 was published for the Saundersfoot proposal, the application said the scheme, if approved, would employ two full-time members of staff, operating 10am-6pm Mon-Sat, and 10-5 on Sundays and bank holidays.
Of the scheme itself it said it would 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 have been the third outlet for The Cheesecake Guy, with sites in Merthyr, and, more recently, Newport Market.
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!).”
Since the application was submitted, Saundersfoot Community Council objected “on the basis that the harbour is diluting the original intention of this area, which was designed to be an educational section of the development”.
The application is now, as of June 19, marked as withdrawn.
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