Demand for homes to buy has jumped since the extension of the stamp duty holiday and other measures were announced in the Budget, but with supply continuing to fall, prices are set to keep rising, new research suggests. Buyer demand was up 24 per cent in the week that followed the Budget on 3 March, … Read more
Property prices in England are now seven times the local salary on average, as house price inflation appears to be outgrowing wages. The typical house costs more than seven times the median annual salary of £31,596, but in some parts of London and the South East the multiple is much higher, reaching up to 27 … Read more
What do winning an auction on eBay, buying a dress on credit and putting £5 on your football team’s next fixture have in common? You might not realise it, but these could all potentially affect your mortgage application according to brokers. If you’re about to apply for a home loan, you want to make sure … Read more
Mortgage borrowers hit hardest by the pandemic may find themselves paying out thousands more each year, because they believe the financial fallout has affected their ability to remortgage. Almost one third of borrowers who have seen their incomes fall due to Covid-19 expect to move onto their lender’s standard variable rate once their initial deal … Read more
Revealed: The 11 countries where house prices grew more than in Britain last year – including one where values are up a THIRD despite the pandemic The UK placed 12th in Knight Frank’s global index of house price increases Countries such as New Zealand, the US and Canada saw prices rise more Emerging market Turkey … Read more
Yorkshire Building Society has become the first lender to bring a range of mortgages with 5 per cent deposits back to the market, potentially heralding a price war that could benefit first-time buyers. Accord Mortgages, the intermediary arm of the building society, is launching the mortgages tomorrow with a five-year fixed rate of 3.99 per … Read more
Britons are being urged to secure their homes against a potential surge of burglaries when lockdown ends. There was a 20 per cent drop in house burglaries last year compared to 2019, according to analysis of government crime figures by the home insurance company Hiro. Criminals’ overall takings were down by £103million in 2020 as … Read more
The average asking price for a home in Britain increased in the first two weeks of March, as the number of people enquiring about available properties broke the all-time record. Asking prices have increased by £2,484 or 0.8 per cent in March so far, reaching £321,064, according to property website Rightmove. This amounted to a … Read more
This is Money spoke to two freelancers about their struggles getting on the housing ladder. Daniel Mitchell, professional musician and tutor from Greater Manchester Daniel Mitchell, a musician, says he feels ‘lucky’ to have secured a mortgage during the pandemic as a self-employed person I have been a full-time freelancer since the start of 2019. … Read more
As the easing of lockdown apparoaches, Britain’s mortgage borrowers will rre-emerge from their homes with differing circumstances. Whilst some, dubbed lockdown savers, have financially benefited and saved during the pandemic, others have been compelled to use mortgage holidays. Some of the former set of borrowers have been paying off large chunks of their mortgages, while … Read more