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 […]
Category archives: Mortgages & General Property News
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 […]
‘Staycation nation’ increases value of holiday lets
The UK has become a nation of staycationers, which in turn has caused the price of holiday homes to soar, according to research1. The purchase price of holiday lets increased by 12% between October 2020 (£387,993 on average) and March 2021 (£435,476 on average), based on holiday home mortgage applications. Sharp rise in mortgage applications […]
It’s holiday season – but is your home protected?
International travel returned in a limited way on 17 May, while those not going abroad have their pick of the UK’s most beautiful staycation destinations this summer. But whether you’re holidaying at home or abroad, make sure your property is protected. Many of us have fully embraced the national DIY craze during our year at […]
Positive signs for the property market this summer
Buyer demand for UK property is showing no signs of abating as we head into the summer months, with one comparison site using conveyancing quote data to predict a house price spike of 2.9% in June and 3.7% in July, based on springtime sales agreed1. A 14-year high House price growth continues to rocket as […]