Homeowners whose two-year fixed rate mortgage deals are about to end have been warned they could see a bill shock if they fail to act. In September 2017, the average two-year fixed mortgage rate hit its lowest ever level at 2.17 per cent, according to Moneyfacts. Borrowers can still swap to deals almost as cheap … Read more
Almost 2,000 more first-time buyers get on the property ladder each month, as they take advantage of cheaper homes, generous mortgages and stamp duty cut First-time buyer numbers jump by 5.8 per cent compared to last year July saw a year-high in the amount lent to people buying their first homes Fewer homeowners are remortgaging than … Read more
More first-time buyers are skipping flats to leapfrog up the property ladder by buying smaller family houses Two thirds of potential first-time buyers are looking for houses rather than flats The average first-time buyer is looking for a house with three bedrooms They need average income of £54,400 to secure a mortgage on their first home … Read more
A government oversight could potentially be pushing hundreds of Help to Buy homeowners into arrears on their debt without them realising. A flawed system for collecting repayments on their interest-free loans has left early home buyers facing the prospect of unwittingly being behind on payments. It’s now been six years since the flagship scheme was … Read more
Five-year fixed mortgage rates have plummeted over recent months and are now almost as cheap as two-year deals, prompting many borrowers to consider locking in for longer. The average two-year fixed rate deal has fallen 0.03 percentage points from January to 2.49 per cent this month, while the average five-year fixed rate deal has dropped … Read more
Young people should be able to raid their pension pots early to help fund a deposit on their first home, a senior Government minister has argued. Speaking this morning at think tank Policy Exchange, the secretary of State for housing James Brokenshire suggested that allowing savers to use pension savings as a deposit could help … Read more
‘Spring bounce’ for the property market fails to materialise as official data shows house price stagnation continues House prices grew on average by £3,000 to £227,000 in March this year Transaction volumes remain stagnant in the face of ongoing Brexit uncertainty London sees house prices fall, pulling down national average By Will Kirkman For Thisismoney.co.uk … Read more
Equity locked in homes plummets in a decade due to rising age of first-time buyers and slow house price growth By Samantha Partington For The Daily Mail Published: 00:01 BST, 22 May 2019 | Updated: 09:28 BST, 22 May 2019 Householders have less equity in their homes than their equivalents before the financial crisis. Analysis … Read more
Retired homeowners looking to convert their home equity into cash have in the past had limited options. Traditionally, the route to do this was through equity release, usually through a lifetime mortgage – but these are often expensive, and can eat into a borrower’s remaining home equity, limiting what they leave behind in inheritance. But … Read more
Moving house is time consuming and stressful. For renters, sometimes the upfront costs can make it unaffordable. The biggest upfront cost is usually the tenancy deposit. They’re expensive, and getting more so, with average deposits in the UK now standing at £1,110. And even with the Government’s plan to cap deposits to six weeks’ rent, in … Read more