Mortgage transactions predicted to drop six per cent in 2022 due to interest rate hikes August 16, 2022 Mortgage activity is set to drop six per cent in 2022 as rising inflation and interest rates put pressure on potential homeowners. Brokers Henry Dannell published figures this week showing the housing market had crashed from the highs of 2021, with interest rates putting off new buyers. Figures precept mortgage activity to contract by six [...]
House prices continue to climb in nightmare scenario for first-time buyers even though buyer interest is slowing August 15, 2022 House prices continue to move firmly upwards and are still expected to be higher in a year’s time, according to the Royal Institution of Chartered Surveyors (RICS) this afternoon. The numbers are somewhat surprising given that surveyors have seen the longest stretch of shrinking buyer demand in the housing market since the early stages of [...]
Following ‘dreadful’ results shareholder calls for Purple Bricks chair to be removed August 2, 2022 The chairman of estate agency Purple Bricks should be removed following its “dreadful” annual results this morning, a key shareholder has said. Lecram Holdings, which owns 4.2 per cent of the company, called for it to take action after disastrous losses and plummeting revenue for the last financial year. Calling for chairman Paul Pindar to [...]
Purple Bricks looks for recovery after bruising financial year with big losses and revenue drop August 2, 2022 Estate agency Purple Bricks has set out a recovery plan following a bruising financial year, with instructions, profit and revenue all way down on 2021. The tech-led housing group suffered due to a mixture of supply chain problems as a turbulent property market, and “a year of transformation”. It registered a loss of £42m in [...]
Yet another ‘housing policy’ designed mainly to frustrate housebuilding July 28, 2022 Pictured in an olive, recently waxed Barbour jacket in front of rolling green hills, Rishi Sunak looked every bit the country gentleman in pictures posted to his social media accounts yesterday. The reason? A commitment to protect the green belt. “We’ve seen too many examples of local councils circumventing the views of residents by taking [...]
Indignant brokers fiercely dismiss Martin Lewis’ notion many mortgages are ‘a ticking time bomb’ June 19, 2022 The well-known personal finance guru Martin Lewis recently warned that mortgages are a “ticking time bomb” for homeowners, as he said Brits should lock in cheap mortgage rates soon before monthly payments become unaffordable. Lewis’ comments come as the cost of living for most Brits is climbing fast, with energy bills going up by an [...]
Middle class stampede for equity release as Brits use their property as ATM by withdrawing billions via later life mortgages June 14, 2022 UK homeowners have already released equity to the tune of £1.4bn so far this year, with this figure estimated to hit almost £5.6bn by the end of the year. In fact, during the first three months of this year, over 12,500 homeowners opted to utilise the pent up value accumulated within their property via later [...]
As fifth anniversary of Grenfell tragedy approaches, almost 10,000 high-rises still have dangerous cladding June 10, 2022 Almost 10,000 tower blocks still have ‘unsafe’ cladding as the country prepares to mark five years since the Grenfell disaster. Levelling Up secretary Michael Gove was unable to give the full figure while speaking to LBC earlier today, before the radio station obtained the data from the department laying bare that hundreds of thousands are [...]
Brits to be allowed to use housing benefits for a mortgage to buy their homes June 9, 2022 Allowing lower-paid workers to use housing benefits to buy their homes and an extension of the right to buy for housing association tenants should give Tory support a boost. Prime Minister Boris Johnson is expected to confirm his intentions in a major speech today as he seeks to repair his fortunes after a bruising Tory [...]
Swelling of ‘generation rent’ means many won’t be homeowners until 40s, 50s or even pension age June 8, 2022 Almost 15 per cent of renters think they may be picking up their pension before becoming homeowners, as the cost of living crisis continues to eat into savings. With so-called ‘Generation Rent’ continuing to be impacted by soaring house prices that prevents them from getting onto the property ladder, a new survey commissioned for NatWest [...]