Category archives: Mortgages & General Property News

Buyers priced out  Some 41% of participants in a recent survey1 agreed with the statement, ‘I cannot afford to live in the area I want or need to live in’. Many renters and homeowners alike were unhappy with their current location, with job opportunities (37%), proximity to friends and family (35%) and a better lifestyle […]

An increasing number of older homeowners are choosing to release equity, latest figures1 reveal, with cost-of-living pressures still the main reason for tapping into the value of their home.  Equity release allows over-55s to access some of the value of their home as tax-free cash. In total, homeowners used equity release to borrow £6.2bn in […]

The Financial Conduct Authority (FCA) has been reported to estimate over a quarter of a million homeowners are trapped on mortgage deals because their lenders have become inactive or unable to authorise new products1.  What could change?  Many of these ‘mortgage prisoners’ are no longer able to keep up with repayments, prompting campaigners to reiterate […]

Rising rates have been a feature of the mortgage market for almost a year. Following the latest Bank Rate rise, how should mortgage holders react?  What happened?  With Bank Rate at its highest level in 15 years, in the short term, this will affect anyone with a tracker or variable rate mortgage through higher repayments. […]

If you’re planning to put your home up for sale, there’s a lot to think about right now. As the first daffodils start to bloom across gardens and verges, the housing market usually blossoms too.  In 2023, with expectations of slowing demand and house price falls, it has never been more important to focus on […]

Cost-of-living difficulties are forcing people to reconsider their housing situations, with a new survey1 showing that three in 10 UK homeowners are considering saving money by moving to a smaller property, relocating or living with others. Race for space? After the pandemic-induced race for space, downsizing is back on the cards. Almost one in five […]

More people are installing solar panels to their homes, spurred on by environmental concerns or the prospect of reduced reliance on the National Grid. Putting thousands of pounds on your roof can boost the value of your property, but do solar panels affect your home insurance? Come rain or… Having emerged in the 1950s, solar […]

The number of households renting privately in the UK increased by 63% in the decade to 20171, reaching an estimated total of 4.5 million. As the rising cost of living continues to cause difficulties for many, the importance of protection becomes increasingly apparent.  Safety net  Tenants in the private rental sector generally have lower financial […]

New equity release lending hit £1.5bn in Q3 20221, with 29% more plans taken out by the end of September than a year previously. The average amount borrowed now comes to more than £114,000, while pressing needs and cost-of-living concerns remain more prevalent than discretionary spending.  Why release equity?  Equity release products provide access to […]

Chancellor of the Exchequer Jeremy Hunt delivered his Autumn Statement on 17 November, with a host of announcements on personal taxation and public spending. Housing was largely absent from the key fiscal event, though a significant statement was made on Stamp Duty Land Tax (SDLT).  In September, then-Chancellor Kwasi Kwarteng had increased the nil-rate threshold […]