Return of the 90% mortgage: Concerns mount that first-time buyers are over-stretching as small deposit home loans hit highest level since 2008 credit crisis Proportion of low-deposit mortgages taken out at its highest level since 2008 Outstanding mortgage debt has also risen by 3.9% to £1.49bn More borrowers are stretching their loans out for longer … Read more
Mortgage lenders are slowly reopening their doors to new applications and estate agents report that buyer interest has surged following the relaxation of lockdown rules two weeks ago. Property listing site Rightmove said it had its ‘busiest ever day’ on Wednesday, surpassing six million visits for the first time and up 18 per cent on the … Read more
The London flat a raffle firm is STILL struggling to give away: East End property will now come with a £30k Land Rover – but ticket sales are still way off target A property raffle has added a £30k car to its original prize pot of a £500k flat The competition has been running 10 … Read more
We’ve exchanged contracts on a property but I’m worried about job security – can the lender withdraw its mortgage offer? By Will Kirkman For Thisismoney.co.uk Published: 07:43 BST, 28 May 2020 | Updated: 07:43 BST, 28 May 2020 We’ve exchanged contracts on a property but I’m worried about my job. I haven’t been furloughed, but … Read more
Mortgage holiday debt threat: FCA warns homeowners face paying thousands of pounds in extra interest By Money Mail Reporter For The Daily Mail Published: 22:01 BST, 26 May 2020 | Updated: 22:01 BST, 26 May 2020 Interest threat: The FCA has warned on mortgage holidays Homeowners who have deferred their mortgage payments are being warned … Read more
Buying and selling properties has been near impossible during lockdown, with around 450,000 transactions suspended. But with restrictions now partly lifted, estate agents are seeing a huge rise in enquiries. Yet the impact of coronavirus is still being felt in the property market – from nervous sellers to buyers trying to scoop a possible bargain. … Read more
The Government has announced that struggling homeowners can now apply for a further three month mortgage holiday. The scheme, which was initially set up in March, has been extended so that the deadline for applying is now 31 October, with borrowers eligible for a break of up to six months. Homeowners will now also be … Read more
Sales of residential homes fell to the lowest level since records began in 2005 last month, new figures from HM Revenue & Customs show. In April there were 38,060 transactions completed, which is less than half the number seen at the same point a year ago. Having been given the green light to get moving … Read more
It was a different world when Valerie and Paul Sanders* agreed to buy a £700,000, four-bedroom home in Orpington, Kent. They were cash buyers and the vendor was moving into rented accommodation; there was no chain, no hold-ups. But with the exchange scheduled for March 23, the day the UK entered lockdown, the sale became … Read more
It was a different world when Valerie and Paul Sanders* agreed to buy a £700,000, four-bedroom home in Orpington, Kent. They were cash buyers and the vendor was moving into rented accommodation; there was no chain, no hold-ups. But with the exchange scheduled for March 23, the day the UK entered lockdown, the sale became … Read more