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 […]
Category archives: Mortgages & General Property News
Mortgage process a mystery to many young adults
It is not only prohibitive house prices and stringent affordability criteria that are making it hard for young people to get on the property ladder. A new survey has revealed that the mortgage process is poorly understood by more than half of all young adults. In the survey1, 52% of 18 to 34-year-olds rated their […]
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 […]
Percentage sales at decade high
Analysis1 suggests that almost seven in ten UK properties for sale, found a buyer in the year to June 2021, the highest rate in a decade. Regional differences Scotland led the way with 89% of homes finding a buyer, while Yorkshire & the Humber was the second most successful area at 77%. Property hotspots included […]
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 […]
Don’t believe these mortgage deposit myths…
Taking out a mortgage is something thousands of us do every year, and yet misinformation about the mortgage process – and particularly deposits – is rife. So, here are a couple of deposit myths you shouldn’t believe: You need a huge deposit to be approved Many people believe you’ll only get approved for a mortgage […]
Is your home worth more than you think?
Do you think you know how much your property is worth? Would you be surprised if it was worth much more – or much less? Many homeowners’ estimates don’t live up to reality, with nearly half of respondents (45%) to a survey1 undervaluing their property and 25% overestimating its worth. Less than a third were […]
Lenders reassured by mortgage guarantee scheme
The government’s mortgage guarantee scheme, which launched in April 2021, is encouraging lenders to offer mortgage finance to buyers with smaller deposits. It has been welcome news for prospective home buyers. The scheme works as follows. The government offers lenders a ‘guarantee’ on 95% LTV mortgages (i.e. those worth 95% of the property value, with […]
In the news – Home Finance
How does your garden grow? Since the pandemic hit the UK, Brits have been spending more time in their garden – and spending more on them, too. According to new research1, 58% of respondents to a survey said their garden is now a bigger priority, which has been reflected in their spending. Almost a quarter […]