The average cost of buying a home in Britain reached an all-time high of £239,000 in August, with people making the most of the Chancellor’s stamp duty holiday, official figures show. In the year to August, property prices increased by an average of 2.5 per cent, or £6,000 compared to a year ago, the Office … Read more
Experts have warned prospective home buyers to start their search by the end of the month latest to avoid missing out on the benefits of the stamp duty holiday. In July Chancellor Rishi Sunak announced a stamp duty tax holiday on the first £500,000 of a home’s purchase price, saving buyers up to £15,000 on … Read more
Homeowners stuck in flats they cannot sell due to a red-tape nightmare are now so desperate they are flogging their properties at enormous discounts. Lenders have been refusing to offer mortgages on tens of thousands of homes after new safety rules were introduced in the wake of the Grenfell Tower fire. But homeowners say they … Read more
Savings rates are languishing at rock bottom and with the looming spectre of negative interest rates, many will be wondering how to make the most out of their cash. For those with large savings pots an offset mortgage could save them substantial amounts of money without the risk of investing the cash. An offset mortgage … Read more
Mortgage crunch time: Lenders slam the breaks on renewing mortgages and approving first-time buyers amid fears over house prices and job losses Experts warn a mortgage crunch is coming as lenders pull deals and hike rates It comes as furlough and mortgage holidays are set to end this month One in four homeowners is worried about … Read more
Farmers and owners of land have been warned to beware ‘conservation’ letters, after plots were bought and flipped to buyers with marketing indicating they could be developed or used for other purposes. A mystery organisation called Country Land Conservation sent letters to those who own fields, woodland and other protected plots indicating that it wants … Read more
The property market is currently undergoing a resurgence after months of lockdown stagnation and the stamp duty tax burden cut for most buyers by the Chancellor. Moving house has always been expensive – property prices are at an all time high and increasing numbers of homes are being sold above asking price. But despite this, a … Read more
More than half of homebuyers under-35 have been bankrolled by family – and a fiftth got more than £30,000 Some 56 per cent of under-35s who own a property had financial help Two thirds of them couldn’t have bought their home without this support They received £19k on average, and absent it would have delayed buying … Read more
Mortgage ‘fire sales’ – where specific loans are only available for up to 48 hours – will become the norm By Sarah Bridge, Financial Mail on Sunday Published: 21:50 BST, 10 October 2020 | Updated: 21:50 BST, 10 October 2020 Mortgage ‘fire sales’ – where specific loans are only available for up to 48 hours … Read more
An area Bristol topped the list of location in the UK that have seen the biggest increase in asking prices for property over the last 10 years, a report revealed today. Easton, an inner suburb north-east of the West Country city, saw its average asking price for a home soar 120 per cent to £283,397 … Read more