Latest News
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UK Buyers Feel the Pinch as Mortgage Costs Soar by 60%
The cost of mortgage repayments has skyrocketed by 60% since 2021, according to recent data from Zoopla. This increase has left many buyers grappling with significantly higher expenses as they face the challenges of purchasing a home in today’s economic climate. For the average UK homebuyer, securing a mortgage in 2024 means shelling out an…
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Southern Stamp Duty Increase Squeezes Buy-to-Let Investors
Since the introduction of the Stamp Duty surcharge for additional properties in 2016, the landscape of the buy-to-let market in Southern England has drastically shifted. According to a detailed analysis by Paragon Bank, which drew on extensive industry data, there has been a marked decrease in the proportion of buy-to-let properties purchased in this region.…
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Keystone Introduces Further Advances for Landlord Product Transfers
Keystone Property Finance has made an update to its offerings by rolling out further advances for landlords who are transitioning through product transfers. This development is designed to streamline processes and enhance financial flexibility for property investors. Within Keystone’s PT Plus range, landlords now have the option to secure additional funding through further advances when…
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UK Housing Market Sees Rise in Demand for Smaller Homes
In February, the UK housing market demonstrated a notable increase, according to the Halifax, with average property prices rising by 1.9%, adding up to a £5,318 increase over the past year. This surge brought the average property value close to the peak seen in August 2022, now just £7,801 short of that high watermark. This…
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UK Home Sales Rise Despite Mortgage Squeeze
The number of homes sold has risen by 12% compared to last year, according to the latest data from Zoopla. This increase in sales agreements comes despite a stagnant growth in house prices, which remains nearly flat at -0.2%. The data suggests a year of recovery and potential growth, with Zoopla projecting a notable increase…
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Dream Home Dilemma – Can You Extend Your Green Belt Cottage?
In the heart of Hertfordshire lies a quaint cottage, the recent purchase of a couple with five children. Their dream was simple: extend their home to make space for their growing family. Unfortunately, their aspirations hit a wall when the local council denied their planning application. The reason? The cottage is situated within the green…
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Booming Growth Forecast for East Midlands and Greater London
The East Midlands and Greater London are poised to lead the UK in population growth, with each region expecting an impressive 12% increase by 2040. This statistic comes from a recent projection by Marrons, a planning and development consultancy. This growth will undoubtedly bring new challenges and opportunities for housing and infrastructure development in these…
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Property Auctions Gain Momentum Despite Economic Challenges
Despite the challenging economic conditions that March 2023 presented, with inflation impacting almost every aspect of the economy, the property auction sector demonstrated remarkable strength. When comparing the figures to March of the previous year, there’s a noticeable increase in the number of lots sold—an impressive 13.7% rise, according to David Sandeman, the head of…
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Canary Wharf Offices Lose Nearly £1bn in Value as Companies Flee Post-Pandemic
Canary Wharf, once a bustling hub of commerce in the heart of London, has seen a sharp decrease in the value of its office spaces, with nearly £1 billion erased from its books. The Canary Wharf Group (CWG), jointly owned by the Qatar Investment Authority and US investment group Brookfield, has faced a downturn as…
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Homeownership Dream Falling Out of Reach?
A stud by Go.Compare, the comparison website, has underscored a significant challenge facing prospective home buyers in the UK. Aspiring homeowners now need to earn almost £20,000 more than the average national salary to afford a home. This financial gap highlights the growing issue of housing affordability and puts the dream of owning a home…