Latest News
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99% Mortgage Idea Abandoned
The Conservative Party has apparently abandoned its ambitious plan to roll out a 99% mortgage scheme, a move that was anticipated to be a cornerstone of the Spring Budget announcement. This policy was designed with the intent of enabling individuals with high incomes but limited savings to step onto the property ladder, yet it has…
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Rise in Searches for Affordable Estate Agents
With a keen eye on reducing expenses, sellers are increasingly searching for ‘cheap fee agents’ to handle their property transactions, a trend that marks a departure from the traditional preference for high-street estate agents. Recent research from GetAgent.co.uk, an estate agent comparison website, highlights this evolving trend. By analysing Google Trends data spanning a 12-month…
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Homemover Mortgages at a 50-Year Low
Last year, the mortgage market experienced a significant slump, attributed to affordability pressures that made it increasingly difficult for individuals to secure mortgages. This trend is expected to continue into 2024, although there’s a glimmer of hope with projections suggesting a modest recovery in the first quarter. The tightening grip on household finances has seen…
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Derwent London’s Stock Woes
Despite showcasing some impressive financial feats recently, Derwent London’s stock seems to be stuck in a decade-old valuation, puzzling investors and analysts alike. Derwent London has been turning heads with its latest financial results, boasting the highest income from new lettings since 2019, a drop in vacancy rates, a boosted dividend, and an upgraded forecast…
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The Cambridge Eases the Path for Landlord Mortgages
The Cambridge Building Society is reintroducing top slicing to its standard buy-to-let range, opening doors wider for those looking to expand or step into the property rental market. This move is especially beneficial for experienced landlords who might find themselves short on the required lending amount due to insufficient rental income from their investment properties.…
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Barclays Shakes Up Mortgage Rates
Barclays has announced a revamp of its mortgage offerings, both for residential purchases and buy-to-let (BTL) properties. This change, effective from the 5th of March, could have wide-reaching implications for borrowers. Barclays has introduced a brand-new mortgage deal for those looking to purchase a home. If you’ve got your eye on a property and need…
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How “Build to Rent” Is Changing the Game For Older Renters
The “Build to Rent” (BTR) sector, though still in its early days, is on the cusp of a major boom, with demographics indicating a rise in older renters seeking quality and stability in their housing choices. Build to Rent properties, designed specifically for renting rather than sale, are becoming an increasingly prominent part of the…
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Chinese Developers Scale Back on UK Commercial Properties
For years, Chinese developers were among the most enthusiastic investors in the UK’s commercial property market, pouring billions into the sector. Between 2014 and 2020, they invested a whopping 12.8 billion pounds into British real estate, betting big on the UK’s economic prospects. However, recent trends have painted a different picture. According to MSCI Real…
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More First-Time Buyers Opting for Longer Mortgages
An increasing number of first-time homebuyers are committing to mortgage terms extending beyond 35 years, setting a new record as they grapple with rising borrowing costs. As the curtain fell on 2023, the property market witnessed a significant trend: nearly one in four first-time buyers chose mortgage durations that spanned over 35 years. This development…
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Interest Rate Cuts A Distant Reality, Warns Bank of England’s Chief Economist
In a recent address to Cardiff University’s Business School, the Bank of England’s Chief Economist, Huw Pill, shared insights that might have many Brits recalibrating their financial expectations. With interest rates being a hot topic for homeowners, savers, and investors alike, Pill’s analysis on the future of the UK’s monetary policy, suggests that any reduction…