Latest News
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One in Five Buyers Put Their Plans on Hold
Rising mortgage rates are causing concern among potential property buyers in the UK, with almost one in five renters putting their buying plans on hold. According to data from TML, 19% of renters feel they cannot afford to buy a property due to high mortgage rates. However, some are patiently monitoring the rates, waiting for…
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Government Suggests Planning Reforms to Boost Housebuilding
The UK government has unveiled a plan to address housing shortages and accelerate housebuilding while safeguarding the environment. The government claims that by removing certain obsolete EU laws related to nutrient neutrality, more than 100,000 homes that were delayed due to these regulations will be constructed by 2030, providing a significant economic boost. The proposed…
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UK Housing Market Facing Slowest Year in a Decade
The UK property market is facing its slowest year for house sales in over a decade, according to research by property portal Zoopla. The decline in sales is primarily due to higher mortgage rates and inflation, which have reduced the purchasing power of potential homebuyers. Zoopla’s study suggests that approximately 1 million houses will be…
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Aberdeen is Most Affordable Place to Buy a House
As property prices continue to rise across the UK, finding an affordable city where one can own a home becomes increasingly challenging. However, a recent study by mortgage broker L&C Mortgages has revealed that Aberdeen has emerged as the most affordable city to own a home. With average prices at £139,551 as of May 2023,…
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House Purchase and Remortgage Activity Weak in Q2
The latest data from UK Finance reveals that mortgage borrowing activity in the UK remained subdued in the second quarter of this year, despite an improvement in consumer confidence. Both house purchase activity and external remortgage activity experienced a decline, primarily driven by affordability challenges. This article aims to provide potential property investors with an…
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Financial Support from the “Bank of Family” Rises, Affecting Property Market
Financial support from family members has become increasingly crucial for individuals looking to purchase property in the UK. According to recent research by Legal & General, an estimated 318,400 homes will be purchased this year with assistance from the “Bank of Family.” This figure is the highest since 2016 and highlights the challenges faced by…
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Energy Efficiency is High Priority for House Buyers
Energy efficiency has become a priority for UK house hunters as they look for ways to save money and reduce their environmental impact, according to a recent survey conducted by YouGov on behalf of Blenheim Estate Homes and Pye Homes. The research shows that 64% of those surveyed would like to see solar panels fitted…
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Could You Boost Your House Value by 25% with an Extension?
If you’re considering investing in property and want to enhance its value, new research by Nationwide, Britain’s largest building society, suggests that adding an extension or loft conversion, as well as extra bedrooms or bathrooms, could significantly increase the value of your property. In this article, we will explore the findings of Nationwide’s research, understand…
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Holiday Let Owners Fuming About Booking.com Glitch
Booking.com, a popular hotel and holiday letting website, recently faced a payment glitch, which has left numerous holiday property owners unpaid. Here’s a simple breakdown: In short, a technical update on Booking.com’s platform inadvertently caused significant payment delays, deeply affecting many holiday let owners who rely on this income. The company is now working to…
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Londoners Knock £23k Off Asking Prices
Homeowners in London have been forced to reduce their property asking prices by an average of £23,500, as soaring mortgage costs have hit the capital harder than any other region in the UK. According to data from Rightmove, asking prices in London have dropped by 3.4% since they peaked in May. Mortgage rates have tripled…