The challenges young people face in getting on the property ladder are a regular feature in the media. A less-often discussed impact of the UK’s housing market, however, is the rising age of first-time buyers (FTBs). Average age rises The biggest increase in FTBs in the last five years has been among older homebuyers, a […]
Category archives: Home Finance
Annex army on the march
The words ‘Granny’ and ‘annex’ may go together like salt and pepper but converting existing outbuildings into residential space is no longer the preserve of those needing to home elderly parents. Lockdown syndrome The events of the past 18 months may have given annexes a new lease of life. Councils received approximately 9,000 planning applications […]
Boost the value of your home
Homeowners have benefited from double-digit house price growth in the last few months and many people are looking to boost the value of their home even further. Whether you’re planning extensive renovations or finishing touches, it’s important to understand which projects will add the most value. Aim high Loft conversions can add valuable space to […]
Humble mortgage overpayments add up
A boost in UK savings as a result of reduced expenditure on travel and leisure during lockdown could be the key to cutting thousands in interest and months from the terms of mortgages, according to research1. With Bank of England figures suggesting Brits saved an extra £200bn during lockdown, overpaying on your mortgage could prove […]
Home Finance – In the news
Rising interest in equity release More than half of homeowners are interested in releasing equity from their property in later life1, with the majority aiming to boost pension income and savings or pay for care. The amount of equity available for release in British homes has also reached a record high of £730bn2, with the […]
Robust recovery for housing and mortgage markets
Projections produced by the Intermediary Mortgage Lenders Association (IMLA) suggest gross mortgage lending will reach £285bn this year. This revision, upgraded from a previous forecast of £283bn, points to the housing and mortgage markets’ continued strength in the face of pandemic-related challenges. A strong housing market has caused a surge in mortgage lending. In the […]
Highest ever number of equity release products available
Equity release has become an increasingly popular option for many people, with a record number of products now available on the market. With over 500 equity release options available to consumers1, rates have also dropped by an average of 2% in the past five years. The maximum loan to value (LTV) has held steady over […]
