Tag: Hargreaves Lansdown
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Seven Years to Save For a House Deposit – Are You Ready to Wait?
First-time buyers looking to step onto the property ladder face a long wait to save a deposit, new research reveals. According to Hargreaves Lansdown, a single first-time buyer would need to save for seven years and five months to reach a deposit of £45,000 using a Lifetime ISA (LISA). This is based on saving the…
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Should You Stay or Should You Go? The Truth About Downsizing
Thinking about downsizing but not sure if it’s the right move? You’re not alone. A new survey reveals that less than one in four Brits plan to downsize in retirement, despite the potential financial benefits. Let’s break down the pros and cons to help you decide if downsizing is right for you. The Downsizing Dilemma:…
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Rents Set to Rise as Tenant Demand Outstrips Supply
New figures from the Royal Institution of Chartered Surveyors (RICS) show tenant demand is booming, while the number of properties available to rent is falling. The Perfect Storm for Higher Rents The RICS Residential Survey paints a clear picture: tenant demand is up, with a net 11% of surveyors reporting an increase. On the other…
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Is the Help to Buy ISA Dead in the Water?
New figures show a huge drop in buyers using the scheme, but are there better options? The number of people buying a home using a Help to Buy ISA has fallen off a cliff, according to the latest figures. Just 9,409 homes were bought using the scheme between January and March this year. That’s a…
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1.5 million Homeowners Facing Remortgage Misery
Millions of homeowners are facing a financial headache as their fixed-rate mortgages come to an end. Around 1.5 million homeowners are expected to remortgage during 2024, and many will be hit with much higher monthly repayments. This is according to financial experts Hargreaves Lansdown, who warn that many borrowers are facing a struggle to make…
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Mortgage Misery Set to Ease for Homeowners
Good news for homeowners as mortgage misery is predicted to ease in the coming months, according to Halifax, the UK’s biggest mortgage lender. While mortgage costs remain a top concern for those buying a home or coming off fixed-rate deals, there are signs of hope on the horizon. Amanda Bryden, head of mortgages at Halifax,…
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UK House Prices Edge Upward – A Glimpse of Market Resilience Amid Political Uncertainty
In May, after a shaky start to the year, the UK housing market showed a hint of recovery. The latest data from Nationwide Building Society indicates a modest rise in house prices, hinting at underlying resilience despite economic challenges. In May, the average UK house price increased by 0.4%, reaching £264,249, according to Nationwide. This…
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Rising Mortgage Rates Challenge UK Homebuyers
Securing an affordable mortgage has become increasingly challenging for UK homebuyers. The average rates for fixed mortgage deals have seen a fluctuation, with two-year deals averaging 5.85%, slightly down from 5.89%, and five-year deals climbing to 5.39% from 5.34% last week, according to Uswitch data. This change comes amid a tense climate in the mortgage…
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UK Home Sales Set to Jump – Buyers and Sellers Make a Comeback
According to the latest figures from the property website Zoopla, both buyers and sellers are stepping back into the market with renewed enthusiasm. February witnessed an increase in property transactions, setting the stage for a projected 10% rise in home sales throughout the year. Zoopla’s data paints an optimistic picture of the property landscape, with…
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Two-Year Rates Dip Below 6%, Could This Spark a Property Market Revival?
Two-year fixed rate mortgages in the UK have fallen below the 6% mark for the first time since June this year. This drop might signal a potential upswing in the housing market, which had seen a slump in recent months. A Glance at the Current Market As of October, the latest available data shows that…