The end of the stamp duty at the end of March drove a sharp fall in mortgage lending in April, gross mortgage lending fell by 19% to £10.2 billion in April 2012, which means that mortgage lending has slumped to a 12 month low.
Recent data has shown that the number of loans to home buyers fell by 30% month on month. Read more
First time buyers remain resilient.
There is still a minefield of economic uncertainties to navigate for those intending to purchase their first home.
Despite this it seems that the number of young professionals looking to get a foot on to the property ladder has risen to the highest level in two and a half years, according to property website, Rightmove.co.uk. Read more
The new breed of house buyer!
Every home owner knows that selling a property can be a stressful experience, after countless dead end viewings, when a buyer finally comes along; the deal could still end up falling through, meaning that the home owner not only loses money but ends up at square one again!
So what if a seller could bypass this stress and sell their home quickly? Well there are many quick sale property firms now popping up on TV ads and the internet. Read more
Changes to the governments ‘support for mortgage interest scheme’.
According to recent research the number of homes being repossessed in the UK has fallen to its lowest level since 2010 and this drop has come despite the economy falling in to a double dip recession and the high level of unemployment.
The better than expected outcome has been brought on largely by the governments ‘support for mortgage interest scheme’ (SMI). Read more
Mortgage fees on the rise.
When getting a mortgage it can seem that there are just fees, fees and more fees! Whether you are a first time buyer or re-mortgaging, you will have to pay some sort of fees to lender to cover the costs of either finishing the mortgage or setting up a new one. Some lender will allow these fees to be added to the mortgage.
Currently an increasing number of lenders are charging fees that are a percentage of the loan amount, say 1% or 1.5% rather than a fixed fee, they do this so that the mortgage itself looking like a really good deal. Read more
Building societies offering low deposit mortgages.
It has become increasingly difficult for first time buyers to get a decent mortgage deal with a small deposit in the aftermath of the credit crunch.
The mortgage market now appears to have a definite split between those that have a hefty chunk of equity in their property or a large deposit, and so qualify for the new ‘dirt cheap’ deals, and the ‘have nots’, namely first time buyers. Read more
Lenders offer incentives to take out mortgage products with them.
In today’s economy banks have now upped their game and have become increasingly competitive within the mortgage market.
Some of the nation’s biggest lenders have begun to offer different incentives in order to lure new customers to their products. Read more
What’s the price of your property?
In today’s financial climate it seems that it is hard to find anyone who can be 100% sure what their home is actually worth!
This may be due to the fact that the housing market simply is not functioning at the moment. It is not that prices have fallen as fluctuating prices have and always will be part of a healthy market. Read more
The Post Office steps up in the mortgage market.
With trust in the major high street banks is at an all time low, it seems that the Post Office is hoping to build its presence as a financial service provider.
According to analysts the Post Office is one of the fastest growing financial service providers in the UK. Read more
In today’s current climate rents inEnglandandWaleshave been steadily increasing as more and more people are unable to get on to the housing ladder.
With lenders still keeping a tight grip on residential mortgage finance the backlog of potential buyers confined to the rental sector has pushed demand for rental property astronomically high, which has then supported high rental charges. Read more