Rightmove is facing a backlash from estate agents who claim it is not doing enough to help them throughout the coronavirus crisis which is seeing them lose business amid plummeting home viewings and sales. The property listing website has offered estate agents a 75 per cent discount for the next four months as the housing … Read more
Homeowners are unknowingly putting themselves into arrears by cancelling their mortgage payments without speaking to lenders first. Chancellor Rishi Sunak’s announced last week that homeowners in financial difficulty as a result of the coronavirus pandemic will be offered a three-month mortgage break, or ‘payment holiday’. But lenders have warned that some borrowers are cancelling their … Read more
House prices may fall by as much as 20% in the worst case scenario for a virus-hit property market, warn analysts The stock market is already pricing in a 12% fall in house prices, say analysts That would knock £28,000 off the average £234,700 selling price A fall of 20 per cent would knock £46,900 … Read more
House prices could collapse by as much as 20% amid coronavirus crisis The stock market is already pricing in a 12 per cent fall in house prices That would knock £28,000 off the average £234,700 selling price A fall of 20 per cent would knock £46,900 off average prices Coronavirus symptoms: what are they and … Read more
Most mortgage lenders HAVEN’T even passed on last week’s Bank of England base rate cut to customers – we reveal the ones that did The Bank of England cut base rate twice in as many weeks, now to 0.1 per cent This means lenders can now borrow money more cheaply than ever before Despite this … Read more
With the emergency base rate cut, a Budget and markets crashing amidst the escalating coronavirus crisis, many will be worried about how this chaos will hit their finances. In theory, mortgage holders with tracker deals and most of those on standard variable rates and discount rates should see a slight reduction in their monthly bills … Read more
House asking prices rose to a new record high last month, online estate agent Rightmove said, but this could be the last set of positive figures for a while as the coronavirus outbreak wrecks havoc on the economy. The latest Rightmove house price index, which covers a period up until a week ago, shows average … Read more
Experts have warned that a ‘second stepper’ housing crisis may be looming as the cost of buying a home for a growing family continues to spiral. The price gap between the first and second rung of UK property ladder has more than doubled since the financial crisis – and in some towns is as much … Read more
Home buyers left disappointed after Stamp Duty overhaul fails to materialise but surcharge on foreign investors could ‘level the playing field’ for UK buyers Chancellor decides against Stamp Duty overhaul this afternoon in 2020 Budget The tax is due to bring £12.8billion into the Treasury’s coffers this tax year He confirmed a 2 per cent surcharge would … Read more
MPs call on lenders to halt all repossessions against mortgage prisoners until help arrives By Will Kirkman For Thisismoney.co.uk Published: 18:26 GMT, 9 March 2020 | Updated: 18:26 GMT, 9 March 2020 MPs have called on firms to cease all repossession proceedings against mortgage prisoners until a working group is established to help them. Members … Read more
The housing market continued to show signs of improvement in February, but coronavirus could dent the nascent recovery, Halifax said today. House prices rose 2.8 per cent in the year to February, with the average property gaining £6,443 annually to reach a new record high of £240,677, according to Britain’s biggest mortgage lender. That marks a … Read more
The number of homes bought using a Lifetime Isa in 2019 boomed 215 per cent, according to figures from the first building society to offer the Government-backed savings scheme. While the average first-time buyer bought a home worth £197,384 in December 2019 according to the most recent figures, those who took advantage of the 25 per … Read more
‘You could be entitled to compensation up to £250,000’, ‘thousands owed for hidden loan charges and mortgages’ and ‘don’t delay – start your free application today’. Barely were my feet back under the desk in 2020 before I was bombarded with emails telling me I could be entitled to compensation for a mis-sold mortgage. In … Read more