Mortgage market remains buoyant but not for all borrowers

The mortgage market has been pretty buoyant despite Brexit uncertainty. Data from banking trade body UK Finance shows approvals for house purchase hit a decade-high in July and were up 3.2% in August. It will be a while before these approvals translate into transactions as it can take a while for sales to be completed [...]

October 2nd, 2019|Mortgages, Uncategorized|

The dangers of borrowing from the Bank of Mum and Dad

Forget Barclays, HSBC or any of the mainstream banks you may have heard of, your next mortgage lender could be a lot closer to home. It turns out the Bank of Mum and Dad is digging deeper than ever to help the younger generation onto the property ladder. A study by insurer Legal & General [...]

September 2nd, 2019|Mortgages|

Coming to the end of your interest-free equity loan period

The government launched its Help to Buy equity loan in April 2013 and since then 210,964 properties have been bought under the scheme. First-time buyers and people moving to a new-build home worth up to £600,000 have benefited from the scheme, which provides an equity loan of up to 20% of the cost of [...]

July 15th, 2019|Mortgages|

Are you at the end of your deal?

When your current mortgage deal comes to an end you might be tempted to do nothing and simply move on to your lender’s Standard Variable Rate (SVR). However, by doing so you could risk your mortgage rate more than doubling. According to Moneyfacts, fixed mortgage deals taken out two years ago attracted an average rate [...]

June 7th, 2019|Mortgages|

Who is Help to Buy really helping?

The number of properties purchased using the government’s flagship Help to Buy equity loan scheme reached a record high in 2018, but is it the best way to get on the property ladder? Launched in April 2013, the initiative was set up to help buyers purchase a new-build with just a 5% deposit, backed by [...]

May 1st, 2019|Mortgages|

The importance of feeling physically and financially secure at home

Would you avoid buying in an area because of the crime rates? Research among estate agents by Churchill Home Insurance has found two thirds of potential homeowners are fearful of crime rates in the area they are looking to buy in. Estate agents estimate that 2.4% of house sales fall through as a direct result of [...]

April 3rd, 2019|Mortgages|

Would you buy a house with a load of strangers?

Here is a novel approach to getting on the property ladder, share your house with a whole load of strangers. It may seem like going back to your days as a student, but the Social Market Foundation has suggested co-living schemes, with individuals living in small bedrooms but with access to communal kitchens and living [...]

March 1st, 2019|Mortgages, Uncategorized|