Latest News
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Call for Stamp Duty Reform to Boost UK Housing Market
The UK Government is facing growing calls for a major overhaul of stamp duty to boost the housing market and assist more first-time buyers in purchasing their own homes. The Coventry Building Society is the latest influential voice advocating for the reduction or elimination of this tax on property purchases, highlighting the potential benefits for…
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Snag High-End Home Goods for Less – A Developer’s Guide to Smart Shopping
Furnishing a home on a budget can seem like an uphill battle. But property developer Michaeld Quadri is proving that a lavish look doesn’t have to break the bank. Michael, who has gained attention on TikTok for his innovative approach to home renovations, recently shared how he snagged a £6,000 Wren kitchen for a mere…
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UK Mortgage Rates on the Rise – Where are the Best Deals?
Mortgage rates across the UK have seen an increase. The average rate on a two-year fixed deal now stands at 5.89%, a jump from last week’s 5.79%. For those looking at longer-term stability, the average rate for a five-year deal is now 5.34%, slightly up from 5.31% last week, as per data from Uswitch. This…
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Beware the Bait – Rising Mortgage Scams Target Homeowners
Homeowners and potential buyers across the UK are finding themselves increasingly targeted by opportunistic scammers offering deceitfully low mortgage rates. According to the latest data from Action Fraud, the national fraud reporting centre, incidents of mortgage and lender loan fraud have surged by 33% over the past three financial years. This rise coincides with climbing…
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Catalyst Lends a Hand – Cutting Costs for Bridging Loan Borrowers
Catalyst, a specialist lender in the UK, has announced a unique promotional offer for those seeking bridging loans. In a move described as “going Dutch,” the lender is now offering to cover half of the valuation fees for eligible bridging loan borrowers. This cost-sharing initiative could save borrowers significantly, with Catalyst chipping in up to…
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UK Commercial Real Estate Lending Plunges to Decade Low
During 2023, the UK’s commercial real estate sector faced a significant downturn as new loans reached a historic low. According to a report from Bayes Business School, total loan origination plummeted to £33 billion, marking the lowest level in ten years. This drastic decrease reflects the challenges posed by declining property values, rising debt costs,…
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UK Housing Market Feels the Squeeze – Prices Drop Amid Rising Mortgage Costs
The UK housing market has seen a shift, with house prices dropping by 0.4% in April. This trend reflects the broader challenges faced by potential homeowners, primarily due to escalating ‘affordability pressures’ and the rising costs of mortgages. The latest data from Nationwide’s House Price Index illustrates a dip in the month-on-month property costs, while…
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Buy-to-Let Borrowing – Is an Interest-Only Mortgage Right for You?
When venturing into the world of buy-to-let investments, one crucial decision you’ll face is the choice between an interest-only and a repayment mortgage. For those new to property investment, understanding these options is key to managing your finances effectively. The Basics of Buy-to-Let Mortgages When you opt for an interest-only mortgage, your monthly payments cover…
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UK Rent Prices Rise, Reveals New Data
A recent report by Goodlord’s Rental Index shows rent prices across the UK have seen a significant increase, with April figures showing a 5.7% rise compared to the same period last year. This rise in rental costs is affecting various regions differently, with the South West experiencing the sharpest increase. The average rent for a…
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Dulwich Emerges as London’s New Property Hotspot
The picturesque area of Dulwich, located predominantly within the London Borough of Southwark, has witnessed a remarkable 153% increase in property enquiries since the start of 2023, according to the latest figures from Foxtons. This substantial rise positions Dulwich as one of the most sought-after districts in London for prospective homebuyers. Dulwich is celebrated for…