Latest News
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Virgin Money Shakes Up the Mortgage Market with New Five-Year Offer!
In a dynamic move that’s sure to ripple through the UK’s mortgage market, Virgin Money has made significant cuts to its fixed mortgage rates, propelling itself into the leading position with a competitive five-year fixed rate for home purchases. Starting tomorrow, 18 October, new customers can avail themselves of a five-year fixed rate at an…
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The Rise of Second Charge Mortgages
In recent years, the UK’s financial landscape has experienced significant shifts, with more property owners seeking innovative ways to leverage their assets amidst economic uncertainty. One notable trend is the increasing reliance on second charge mortgages, especially when traditional remortgaging options don’t align with borrowers’ needs or financial strategies. Understanding Second Charge Mortgages Traditionally, homeowners…
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What are Development Exit Bridging Loans?
In the ever-evolving landscape of the UK’s property sector, developers face an array of challenges, particularly in financing. Development exit bridging loans can offer a safety net for investors navigating the unpredictability of the economy. This financial product is not just a contingency plan but a strategic tool for maximizing profitability and maintaining project momentum…
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UK’s Largest Homebuilder Faces Uncertainty Amid Mortgage Struggles
The UK’s housing market is experiencing significant turbulence, with major industry player Barratt Developments signalling a challenging year ahead due to buyers’ difficulties in securing mortgages. This trend underscores the widespread impact of economic conditions on potential homeowners and the housing industry at large. A Troublesome Climate for Buyers and Builders Barratt, the leading housebuilder…
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ONS Rental Price Index, September 2023
The ONS today released its Index of Private Housing Rental Prices for September 2023. According to the Index —an experimental price index that monitors the prices paid for renting property from private landlords in the UK—there has been a significant gain in private rental prices, especially in the year preceding September 2023. A Peak in…
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ONS House Price Index, August 2023
The ONS today released its latest House Price Index, covering August 2023. This index offers a summary of house price changes across various regions of the country, painting a picture of the prevailing housing market conditions. Key Highlights The top findings give a general overview: Assessing the UK House Prices Landscape The data, compiled by…
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No-Fault Eviction Ban Delayed but on the Horizon
Michael Gove, the housing secretary, seems to have prevailed in his tussle with Downing Street, ensuring the forward motion of the ban on no-fault evictions among other reforms. However, the protective umbrella for renters won’t unfurl until next year, The Guardian reports. This development is part of a larger overhaul of the private renting system,…
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House Prices Fall £1100 – esurv
New findings from the e.surv house price index illuminate a stark reality: in just one month, average house prices have plummeted by over £1,100. This isn’t a minor fluctuation but the fourth largest monthly fall witnessed in 2023, painting a picture of uncertainty for homeowners and potential buyers alike. But what’s precisely nudging this domino…
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Landlords on the Edge: 1 in 4 Plan Exit Amid Tough Market Conditions
According to the Simply Business Landlord Report, which scrutinises the feedback of 1,455 UK landlords, a substantial shift is looming on the horizon: despite an upswing in the demand for rental homes, one in every four landlords is contemplating selling at least one investment property within the forthcoming year. This decision doesn’t seem impulsive, considering…
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Renters’ Reform Bill gets Second Reading
The Renters Reform Bill is set for debate in Parliament on Monday 23 October. This bill, if passed, will mark a new era in the private rented sector, particularly by revoking landlords’ ability to end tenancies through the infamous Section 21 notices. Gearing Up for Change: The Renters Reform Bill Explained Introduced under Theresa May’s…