Mortgage rates have rocketed since the government's mini-budget on 23 September.
If you're thinking of buying a home or need to remortgage this is likely to impact you.
For the latest news and advice on dealing with inflated mortgage rates, see the below stories, which are regularly updated:
If you're worried about making your mortgage payments, see our guide on what to do if you can't pay your mortgage.
Buying a house or flat off-plan means buying it before it's been built.
This might sound risky, but if you're buying in a market where property prices are on the up and more homes are needed, it can have its rewards.
That's why the sight of homebuyers queuing around the block waiting for a show home to open is becoming more commonplace.
Interest in buying off-plan has been buoyed by government schemes such as Help to Buy equity loans and First Homes, which are only available on new-builds.
Buying off-plan isn't always straightforward, however. You'll need to do your homework on the developer, and obtaining a mortgage can sometimes be tricky.
The specific advantages and disadvantages of buying off-plan depend largely on the property market in your area - but we've listed some of the main pros and cons below.
Advantages
Disadvantages
You can find out much more about the process and its pros and cons in our full guide to buying a new-build home.
What's the developer's reputation like?
Before buying, you should research the builder's previous developments to see if the homes match up to the pictures in the brochure.
It's also worth looking into customer satisfaction levels. Take any star ratings from industry bodies with a pinch of salt, and instead look at community groups and developer pages on social media to see whether buyers really are satisfied with the finished product.
Is there potential for a deal?
Housebuilders will usually be willing to negotiate, particularly at the start of a project when they need to sell properties in order to fund the continuation of the development.
The biggest discounts on off-plan property tend to be available to investors and cash buyers purchasing multiple properties.
But even if you're buying a home for yourself with a mortgage, there's often a deal to be done. Even if the developer won't budge on the purchase price, they may be willing to cover your stamp duty or throw in some fixtures and fittings.
It can be trickier to haggle on Help to Buy properties as they're often in high demand, but it's still worth a try.
Is proper protection in place?
Ask your property solicitor to make sure the developer has insurance to safeguard against them going bust or failing to complete the development.
Will there be access issues?
If your home is going to be one of the first that's completed, find out about any access issues and disruption that could be caused once you've moved in.
Some developments have issues with so-called 'unadopted' roads, where the local council won't 'adopt' a private road and take responsibility for its maintenance.
In these instances, some homebuyers have faced significant management or service charges to maintain the upkeep of the roads and any green spaces.
When buying off-plan, you might be reserving a property a year or more before it's actually available to move in to.
One of the biggest issues with this is that mortgage offers generally expire after six months, meaning that - theoretically at least - you could find yourself left high and dry, having paid a reservation fee but unable to get a mortgage.
Thankfully, many mortgage lenders are now offering longer offer periods on their deals.
Some banks will offer you 12 months as standard on a new-build application, while others will allow you or your broker to apply for a six-month extension during the initial offer period.
Find out more: understand the mortgage implications of buying a new-build home.
'Flipping' happens when a buyer purchases a home off-plan and then attempts to sell it for a profit when the development is completed (or sometimes even before).
Investors planning to flip will target their developments carefully and buy when the first properties are released for sale.
Although it's popular with early birds in thriving markets, flipping is very risky as the housing market can change quickly. Even if prices are still rising, if too many investors buy properties in the same types of development, demand can quickly dry up.
Flipping is usually practised by cash buyers as it can be hard to get a mortgage for this type of investment. If you're thinking of flipping, you'll first need to check with the developer and your mortgage lender (if you're not a cash buyer), and work out in advance what you'll do if you can't sell the property.