Tag: Mortgage Advice Bureau
-
First-Time Buyers Flood Back to the Housing Market
First-time buyer searches jumped up by 9.1% in September! This follows a 5.4% rise in August, meaning more and more people are looking to buy their first home. This surge in interest comes as mortgage rates become more affordable. The average rate on a 5-year fixed mortgage is currently around 4.5%, making it a good…
-
House Hunters Back in Action as Market Set to “Kick Off!”
Experts predict a surge in house sales from September as pent-up demand and a boost in mortgage enquiries promise a busy autumn for the property market. Peter Brodnicki, CEO of Mortgage Advice Bureau, believes the stars are aligning for a much-needed market surge. Speaking on The Two Russells podcast, he pointed to the recent base…
-
Interest Rate Cut – Is This the Moment the Housing Market Turns a Corner?
Good news for buyers and sellers as the Bank of England reduces interest rates for the first time since the pandemic. In a move that could signal a boost for the housing market, the Bank of England has decided to cut interest rates for the first time since the start of the Covid pandemic. This…
-
Green Homes are Top of the Wishlist for UK Buyers
Brits are clamouring for energy-efficient homes, with most planning green upgrades to combat soaring bills. 81% of us are looking to make our homes more eco-friendly, according to a new study. Experts at Mortgage Advice Bureau found that a desire to slash those pesky energy bills is the biggest motivator (58%), with a third of…
-
New Mortgage for Foreign Nationals in the UK
Nottingham Building Society has introduced a new mortgage product designed specifically to aid foreign nationals working in the UK in their quest to own a home. This innovative offering comes as a response to the unique challenges faced by skilled workers from abroad when attempting to navigate the UK mortgage landscape. The mortgage is tailored…
-
Teaming Up to Buy a Home? What You Need to Know
Ben Thompson, deputy CEO at Mortgage Advice Bureau, has shared crucial insights for those considering purchasing a home with someone else. The traditional image of buying a home with a romantic partner is evolving. Recent research indicates that due to the economic pressures of the last few years, over half (52%) of potential homebuyers are…
-
Stealth Tax – Homeowners Pay More for Lodger Income
Homeowners in the UK who have opted to take on lodgers are finding themselves caught in a tax bind. The cost of living, including mortgage rates and rents, has sharply risen, yet the government’s tax relief for such homeowners has remained largely unchanged. This disparity is leading to increased financial pressures for those who rent…
-
UK Inflation Rate Takes a Dip – Good News for Mortgages?
The UK’s inflation rate, a critical indicator of how prices are moving in the economy, has brought some relief this November. The rate, which measures how much prices have risen over the past year, fell to 3.9%, down from 4.6% in the previous month. This decrease is a positive sign, especially for households struggling with…
-
Tips for First-Time Buyers in a Tough Property Market
Key points – In a period where the property market feels increasingly out of reach for many, especially first-time buyers, it’s crucial to explore all available avenues. The past year has been particularly challenging, with soaring mortgage rates and stringent lending criteria. However, despite these hurdles, there are still ways to achieve homeownership, albeit through…
-
Property Experts Comment on Autumn Statement
Chancellor Jeremy Hunt presented over 100 measures in his full Autumn Statement, but only a few specifically targeted the housing sector. PropertyIndustryEye canvassed the opinions of several property experts. Enhancements to Local Housing Allowance The Local Housing Allowance rate, which assists private renters on low incomes in paying their rent, is set to increase to…