Latest News
-
War of the Warmers – The Great Debate Over Heat Pumps vs. Gas Boilers
A major debate has ignited concerning the most efficient and cost-effective ways to heat our homes. Amidst escalating environmental concerns and geopolitical tensions affecting gas supplies, heat pumps are being heralded by some as the future of home heating, while others remain sceptical of their efficacy and cost-effectiveness. Are heat pumps more expensive to run…
-
Relief for Renters as Rent Arrears Decline
Recent findings by Propertymark, the professional body for estate and lettings agents, have shed light on a positive shift in the rental market—fewer tenants are now falling behind on their rent. A survey conducted among Propertymark members revealed a significant decrease in tenants facing rent arrears. As of March 2024, only 2.5% of properties managed…
-
Rising Costs Make London Homes a Tough Buy
Purchasing a home in London has become a daunting challenge, with mortgage costs now almost 50% higher than renting. This steep rise in costs is placing the dream of homeownership further out of reach for many, as the gap between owning and renting widens significantly. In the heart of London, particularly within its more affluent…
-
Landbay Eases Pressure on Landlords with Remortgage Changes
Landbay, a key player in the buy-to-let lending market, has made a significant adjustment to its remortgage stress tests for landlords. The lender has reduced the stress test requirements on its like-for-like remortgage range. This change could ease the financial pressure on landlords looking to refinance their properties without increasing their borrowing. Understanding Stress Tests…
-
Surrey’s “Millionaire’s Row” Tops the Charts in Luxury Home Sales
Pewley Way in Guildford and Broadleaf Road in Farnham have earned the title of “Millionaire’s Row”, having recorded more property sales over £1 million than any other area in Surrey. This rise in high-value transactions highlights a broader trend seen across England and Wales. Between April 2023 and March 2024, 14,000 homes across England and…
-
Foundation Home Loans Introduces New Mortgage Options for Landlords
Foundation Home Loans has just unveiled some significant changes to their mortgage products, aimed at landlords seeking more flexibility and profitability in their investments. These changes include the launch of new short-term and holiday let products, as well as reductions in rates and fees on several existing options. Recognising the growing demand for more versatile…
-
Kensington Cuts Mortgage Rates
Kensington Mortgages has announced cuts to their interest rates, affecting both residential and buy-to-let mortgage products. These reductions, as high as 0.40%, are set to make property financing more accessible and affordable. Kensington Mortgages has made a considerable adjustment to its residential mortgage offerings, decreasing rates by up to 0.33% (33 basis points) across its…
-
Victorian Elegance Reigns Supreme in UK Home Searches
Victorian homes have emerged as the frontrunners in the race for the most sought-after period property style in the UK. This resurgence in popularity can be largely attributed to the influence of period dramas such as “Downton Abbey” and “Bridgerton.” These shows have not only captivated audiences with their engaging narratives but have also showcased…
-
New Build Homes the Go-To Choice for First-Time Buyers
First-time home buyers are increasingly steering clear of fixer-upper properties and instead opting for newly constructed homes that come ready to live in, complete with garden spaces. This shift in preference marks a significant change in the UK’s property landscape, especially for those making their first foray into homeownership. The Scotland-based property portal TSPC has…
-
UK Housing Market Sees Faster Sales Despite Price Struggles
Recent data from Hamptons reveals a decrease in property price reductions, hitting an 18-month low as the market begins to recover. As of April, homes were typically on the market for 50 days before going under offer, which is slightly longer than last year but indicative of a resilient sales environment. The time it takes…