Tag: First-Time Buyers
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Fixed-Rate Mortgage Drop Offers Hope for Homebuyers
Average fixed-rate mortgages have fallen to their lowest point since March, offering a ray of sunshine in the current economic climate. According to the latest data from Moneyfacts, the average two-year fixed-rate deal has dropped by 18 basis points since July, now sitting at 5.77%. Five-year fixed-rate deals have also seen a welcome decrease, falling…
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Friends and Mortgages – Brits Turn to Loved Ones for Home Loans
Struggling to get a mortgage in this tough market? You’re not alone. More and more Brits are teaming up with family members and even friends to get on the property ladder. New research from Equifax UK reveals that almost one in five people who’ve gotten a mortgage have done so with someone other than their…
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Leeds Building Society Lowers Mortgage Rates
Leeds Building Society has announced some good news for anyone looking to buy a home or remortgage – they’re cutting rates on a range of their fixed-rate mortgages! The building society has reduced rates by up to 0.30% across a selection of two, three and five-year fixed-rate mortgages. This includes options for homeowners, first-time buyers,…
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Peterborough Crowned UK’s Cheapest City for First-Time Buyers
Forget battling it out in the capital, first-time buyers looking for a bargain should set their sights on Peterborough. New research has revealed that this Cambridgeshire city offers the most affordable route onto the property ladder. While Peterborough might not be known for its good looks, it seems that what it lacks in charm, it…
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First-Time Buyers Feel the Pinch as Lenders Fail to Pass on Interest Rate Cuts
While interest rates on mortgages have been dropping this summer, first-time buyers with small deposits aren’t seeing the benefits. This is according to consumer group Which?, who found that lenders are offering significantly smaller rate reductions to those with the smallest deposits. For example, between July 1st and August 8th, the best five-year fixed-rate mortgage…
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Bank of Mum and Dad gets easier with April Mortgages
First-time buyers struggling to get on the property ladder are set for a cash boost thanks to new rules from April Mortgages. The mortgage lender is making it easier for family and friends to help out with deposits by relaxing its rules around “gifting” money. It means more people will be able to access April’s…
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Croydon’s House Prices Tumble While London’s Rise
House prices in Croydon have dropped, bucking the trend in the rest of the capital. The latest Land Registry figures show that the average house price in Croydon has fallen by 0.7% – that’s a £2,750 drop! This downward trend isn’t new in Croydon, with prices steadily decreasing by an average of 1.2% each year.…
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Mortgage Rates Take a Tumble – Best Deals This Week
Despite rising house prices, mortgage rates are falling, offering hope for those looking to step onto the property ladder. The Halifax House Price Index reported a 0.8% surge in house prices in July, pushing the average UK house price to £291,268. That’s a hefty 2.3% increase compared to last year, marking the most significant jump…
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First-Time Buyer Hotspots Face House Price Plunge Next April
First-time buyers are the backbone of the UK property market, but some areas are more reliant on them than others. Research reveals the areas where house prices could plummet if the stamp duty holiday is scrapped next year. Currently, first-time buyers don’t pay stamp duty on the first £425,000 of a property’s price. This tax…
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Marsden Launches New Holiday Let Mortgage Deal
Are you thinking of becoming a landlord or perhaps expanding your portfolio? Marsden Building Society has just launched three new mortgages specifically designed for furnished holiday lets (FHL). These mortgages offer some perks that could make them a great option for your investment needs. These new mortgages come with no booking or arrangement fees for…