Tag: Nationwide
-
London’s Build to Rent Scheme Needs More Support
Key points – The latest report from Lichfields, a national consulting firm, sheds light on the inconsistencies and gaps in planning policies across London boroughs. This issue is particularly evident in the growing sector of Build to Rent (BTR) properties, which are increasingly in demand but are not being adequately supported by local planning authorities.…
-
Landlords Rush to Sell as Tax Allowances Shrink
Key points – The central issue prompting a rush among landlords to sell their properties is the upcoming reduction in the annual capital gains tax allowance. From a generous £12,300 last year, the allowance is plummeting to just £3,000 at the start of the new tax year, a sharp decrease from the £6,000 available this…
-
London Property Market Springs Back to Life With A Surprising Autumn Uptick
Key points – It’s a peculiar but true tale in the world of property this year: November saw a stronger real estate market than September. Who would have thought? This unexpected upswing is partly due to inflation dipping below 5%, coupled with enticing mortgage offers — the best five-year fixed-rate mortgages are now under 4.5%.…
-
UK Home Prices to Dip Slightly in 2024 Rightmove Forecasts
The UK’s property market, a topic of endless discussion and concern for many, is expected to see a slight decrease in the average asking price for homes in 2024. Rightmove, Britain’s largest property website, forecasts a 1% drop in prices due to increased competition among sellers and persisting economic challenges. The Changing Tide of House…
-
Mortgage Rates Overview, 4th December 2023
The world of mortgages, interest rates, and house prices can often feel like a whirlwind of numbers and jargon. But fear not! Let’s break down what’s happening in the UK’s financial landscape as of December 2023, making sense of the latest news and data in plain English. Interest Rates: A Pause in the Hike The…
-
Another Surprise House Price Rise in November
Contrary to forecasts predicting a decline, UK house prices experienced a modest increase of 0.2% from October to November. This data, provided by mortgage lender Nationwide, follows a more significant growth of 0.9% in the previous month and a slight rise in September. Economists had anticipated a 0.4% drop, making this development particularly noteworthy. The…
-
The Mortgage Rate Shuffle – Barclays Leads the Way with New Cuts
The UK mortgage landscape is witnessing a dynamic shift, with leading banks competing fiercely to offer the most attractive rates to homebuyers. Barclays has made a significant move in this competitive market by announcing a series of rate cuts across its mortgage products, effective from tomorrow. This decision positions Barclays as a market frontrunner, especially…
-
Rental Portfolios vs. Innovative Finance ISAs
Ready-made property portfolios, typically assembled by experienced investors, offer a way to acquire multiple properties in one transaction. They’re especially appealing to seasoned investors looking for immediate rental income streams. Recent research by easyMoney, a peer-to-peer investment firm, sheds light on the state of these portfolios across Britain and compares their performance to Innovative Finance…
-
Mortgage Guarantee Scheme – A Closer Look
The UK government’s Mortgage Guarantee Scheme, launched in April 2021, has played a modest yet notable role in the housing market, particularly for first-time buyers. Despite its intention to aid those struggling to enter the property ladder, its impact raises important considerations for potential homeowners and investors alike. Understanding the Scheme’s Reach Since its introduction,…
-
October’s Surge in Mortgage Approvals
In October, the UK witnessed a significant increase in mortgage approvals, surpassing forecasts. The Bank of England reported that net mortgage approvals for house purchases climbed to 47,400 from September’s 43,700. This figure not only exceeded the anticipated 45,000 but also marked the highest point since July. Despite this uptick, it’s important to note that…