Latest News
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London Property Market Springs Back to Life With A Surprising Autumn Uptick
Key points – It’s a peculiar but true tale in the world of property this year: November saw a stronger real estate market than September. Who would have thought? This unexpected upswing is partly due to inflation dipping below 5%, coupled with enticing mortgage offers — the best five-year fixed-rate mortgages are now under 4.5%.…
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London’s Worst Performing Areas for Affordability
Key Points – In the last decade, London has witnessed a remarkable surge in house prices, far outpacing the growth in local incomes. This has resulted in a significant decline in housing affordability across the city, impacting residents’ ability to own homes. The gap between house prices and earnings in London has widened alarmingly since…
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Accord Slashes Buy-to-Let Rates
Accord Mortgages has announced significant rate reductions for its buy-to-let mortgage products. This is particularly great news for landlords looking to save on mortgage costs. The reductions vary by the term of the product: This follows a previous reduction in Accord’s residential range by up to 0.33% just two weeks earlier, showcasing Accord’s responsiveness to…
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More Mortgage Incentives, But Watch Out for Rising Fees!
The average fee for fixed rate mortgages (excluding no-fee products) has seen a noticeable increase. As of the end of November 2023, the average fee stands at £1,108, marking a £21 rise since the beginning of the month. This uptick in fees is significant for anyone currently in the market for a new mortgage or…
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HMO Mortgages, A Guide for UK Property Investors
What Are HMO Mortgages? House in Multiple Occupation (HMO) mortgages are unique financial products tailored for buying or refinancing properties intended as HMOs. An HMO is a residential property where at least three unrelated people share amenities like kitchens and bathrooms. Property Eligibility for HMO Mortgages Licensing Requirements Tenant Management – A Complex Task Understanding…
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What Adds More Value, uPVC or Wood for Your Double Glazing?
When it comes to home improvements, one of the biggest decisions homeowners face is choosing the right type of windows. Ed and his wife, recent movers, are grappling with this exact dilemma: should they opt for uPVC double glazing, which is more affordable, or invest in expensive wooden frames to potentially increase their home’s value?…
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UK Home Prices to Dip Slightly in 2024 Rightmove Forecasts
The UK’s property market, a topic of endless discussion and concern for many, is expected to see a slight decrease in the average asking price for homes in 2024. Rightmove, Britain’s largest property website, forecasts a 1% drop in prices due to increased competition among sellers and persisting economic challenges. The Changing Tide of House…
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Reality Check for UK Home Sellers: The Need to Lower Prices
In the UK, home sellers are undergoing a significant adjustment as they find themselves compelled to reduce their asking prices to make a sale. Data from Rightmove indicates that the average time to find a buyer has increased significantly, from 45 days last year to 66 days now. This shift marks a change in the…
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Falling House Prices May Cause A Financial Storm for UK Homeowners
In a recent revelation by the Bank of England, it’s clear that the UK’s housing market is on the brink of a significant shift, one that could leave many homeowners facing steeper mortgage costs. Here’s a breakdown of what’s happening and how it could affect you. Understanding Loan-to-Value Ratios (LTVs) Before diving into the implications,…
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UK Property Auction Market Soars – October 2023 Insights
The UK property auction market is experiencing a significant upswing, as revealed by the latest statistics from October 2023. Essential Information Group (EIG), a leading data provider, has outlined a series of compelling trends and figures in this dynamic market. Overview of Market Trends The data presents an encouraging picture of growth in the UK…