Over half of remortgagors lowered mortgage rates in May as EU referendum looms June 20, 2016 More than half of people remortaging in May chose to lower their mortgage rate, as remortgagors braced themselves for a possible Brexit. A third of borrowers reduced their monthly spend by up to £500, and over a quarter (26 per cent) increased the size of their loan, according to research from Legal Marketing Services (LMS). Read [...]
Sellers are shifting their housing stock in record time despite Brexit worries June 20, 2016 The time it takes to sell a house has hit a record low, as Britain's housing market continues to prove its resilience despite the backdrop of the EU referendum. The uncertainty of the outcome of the vote doesn't seem to have deterred buyers; property website Rightmove said today sellers only have to wait an average of [...]
The new housing crisis is upon us – and it’s those who already own property that should be worried June 18, 2016 We hear an awful lot about the "housing crisis" in the UK and – particularly – in the capital. At one end of the ladder, rents are rising faster than wages and house prices are going up quicker than people can save for a deposit. At the other, new taxes and regulations on second homes [...]
One in five London homes is for sale at £1m or more – here are the priciest boroughs June 16, 2016 So bored of Brexit that you don't even care what happens on the 23 June any more? Well, good news: London house prices are still outrageous, so you can get annoyed (or, deliriously happy, depending on your home ownership status) about that instead. New data out today showed one in five houses in the capital are worth £1m or [...]
Say what you like about the EU referendum – but Brexit isn’t going to hit UK house prices June 13, 2016 Why leaving or staying will have no impact on house prices In the run-up to next Thursday’s referendum, there have been some flabbergasting claims made by both sides. Suppositions made include the premise that leaving the European Union would lead to war and recession (although it was not made clear in what order these will [...]
Halifax says house prices could be reaching unsustainable levels as property prices soar despite EU referendum June 7, 2016 There were no surprises in the latest numbers on house prices, released this morning – they are still going up. The average house was worth £213,472 in the three months to May, according to the Halifax house price index, 9.2 per cent more than the same period last year. The bank said the same old story [...]
David Cameron warns of mortgage rise if Britain votes for Brexit June 5, 2016 David Cameron has warned that mortgages could rise for millions of homeowners if Britain votes to leave the EU. The Prime Minister has said average repayments could rise by nearly £1,000 a year because leaving Europe could lead to tighter credit controls as well as pushing up interest rates. But the claim has been called "desperate" [...]
Gazumping is a go! This is how many property purchases fall through June 3, 2016 Some would-be homeowners are learning the hard way that, even if the ink's dry on the contract, it doesn't guarantee they'll be moving in any time soon. More than a quarter (28 per cent) of homebuyers have had a house purchase fall through after they've had an offer accepted, research out today has found. The [...]
Why the mortgage market is due to be shaken up by the tech revolution June 3, 2016 Scaling the housing ladder can feel like climbing Everest and nowhere more so than in the capital. From saving every penny for a first deposit, to scouring the tube map for the next undiscovered, reasonably priced gem, the affordability challenges are well documented. But there are other unnecessary challenges driven by an outdated industry that [...]
UK mortgage lending dropped to its lowest level since the height of the eurozone crisis in April June 1, 2016 Mortgage approvals have hit their lowest level since the height of the Eurozone crisis, according to the Bank of England. Mortgage loans totaled just £281m in April, their lowest level since August 2012, after the hike in stamp duty came into effect at the beginning of the month and buy to let landlords fled the [...]