Value of private property in Britain tops £6TRILLION for first time

The total value of private property in the UK topped £6trillion for the first time on record last year, fresh data reveals. Mortgage-holders also made an ‘unprecedented’ £5.1billion worth of overpayments in the final quarter of 2020, but regular repayments remain below pre-pandemic levels, the Equity Release Council said. In the final quarter of last … Read more

Buyer’s vs seller’s markets: How to judge property near you

The extension of the stamp duty holiday is tipped to add further fuel to the fire of the property market, but while some areas are blowing hot others are cold. Headline figures show house prices surging on average but dig deeper and England’s property picture is divided into buyer’s and seller’s markets, according to researchers … Read more

Metro Bank launches mortgages for those with low credit scores, missed payments and repossessions

Metro Bank launches ‘near prime’ mortgages for borrowers with low credit scores, missed payments and even repossessions on their record New mortgages will have less strict credit checks than standard home loans  Those who have missed mortgage or loan payments, declared bankruptcy and even had a home repossessed will be eligible under certain circumstances They … Read more

What has happened to mortgage and saving rates since the base rate cut?

Easy-access savings rates have fallen by seven tenths, but many mortgage borrowers have barely benefited since the Bank of England cut its base rate to an all-time low last year, data suggests.  Savings rates have plummeted but some of Britain’s biggest lenders have failed to pass on the full 0.65 percentage point cut since last … Read more

Fifth of Britain’s wealthiest people are TURNED DOWN for a mortgage by their bank

A fifth of Britain’s wealthiest people are TURNED DOWN for mortgages despite having hundreds of thousands in the bank Not having a monthly pay slip means they struggle with ‘tick box’ applications Wealthy individuals also have issues applying for overdrafts and credit cards The problem has become worse, according to survey by a mortgage provider … Read more