{"id":22518,"date":"2024-02-20T13:48:56","date_gmt":"2024-02-20T13:48:56","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=22518"},"modified":"2024-02-20T14:03:06","modified_gmt":"2024-02-20T14:03:06","slug":"home-finance-in-the-news-9","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/02\/20\/home-finance-in-the-news-9\/","title":{"rendered":"In the news"},"content":{"rendered":"
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Gazundering in a buyer\u2019s market<\/strong> <\/p>\n<\/div>\n\n

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Research1<\/sup> has found that, in 2023, there was a 97% increase in people googling the term \u2018gazundering\u2019 \u2013 when a homebuyer reduces their offer on a property at the last minute, often just before exchange of contracts. About a third of sellers were subjected to gazundering last year2<\/sup>, indicating the property market currently favours the buyer. Gazundering is less common in Scotland because, while it does still occur, Law Society of Scotland governs the activities of solicitors acting on behalf of property buyers. <\/p>\n<\/div>\n\n

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Garden offices not going anywhere<\/strong> <\/p>\n<\/div>\n\n

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Do you have a garden office? If so, you are not alone! Gazundering is not the only term that has been googled regularly, as searches for \u2018garden offices\u2019 are 22% higher than before the pandemic3<\/sup>. With hybrid working seemingly here to stay, the last decade has seen a significant rise in the number of properties listed as having an office in the garden. <\/p>\n<\/div>\n\n

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Concerns over spike in longer mortgages<\/strong> <\/p>\n<\/div>\n\n

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The latest Bank of England Financial Policy Summary4<\/sup> has highlighted that many homeowners are still feeling the effects of higher interest rates. As a result, some households have extended the length of their mortgage deal, with the report citing there has been \u2018a notable increase in the proportion of borrowers taking out mortgages with 35 year or above terms.\u2019 <\/em>The Financial Policy Committee has explained that, while this does offer short term relief, \u2018it could result in higher debt burdens in the future.\u2019<\/em> <\/p>\n<\/div>\n\n

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1<\/sup>GetAgent.co.uk, 2023 <\/p>\n<\/div>\n\n

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2<\/sup>House Buyer Bureau, 2023 <\/p>\n<\/div>\n\n

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3<\/sup>Legal & General, 2023 <\/p>\n<\/div>\n\n

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4<\/sup>Bank of England, 2023 <\/p>\n<\/div>\n\n

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As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Gazundering in a buyer\u2019s market  Research1 has found that, in 2023, there was a 97% increase in people googling the term \u2018gazundering\u2019 \u2013 when a homebuyer reduces their offer on a property at the last minute, often just before exchange of contracts. About a third of sellers were subjected to gazundering last year2, indicating the […]<\/p>\n","protected":false},"author":4,"featured_media":22519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/22518"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=22518"}],"version-history":[{"count":5,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/22518\/revisions"}],"predecessor-version":[{"id":22525,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/22518\/revisions\/22525"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/22519"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=22518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=22518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=22518"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=22518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}