Tag: Persimmon
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“Own New” – Sub-1% Mortgage Rates Now Available for New Builds
Own New has unveiled a mortgage scheme that harks back to the near-record low rates of Autumn 2021. But there’s a catch – these dreamy rates are exclusive to new-build home buyers. Dubbed the “Rate Reducer” scheme, this innovative offer promises to make homeownership more accessible and affordable, especially for those willing to invest in…
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Virgin Money Launches New Mortgage Scheme
Virgin Money has just unveiled a new mortgage product in partnership with Own New, designed to make the dream of owning a new build home more achievable for many. Dubbed the “Rate Reducer,” this new offering is set to revolutionise how prospective homeowners can afford their future homes. Making New Homes More Affordable As of…
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Getting Into Property Investment Without Being a Landlord
Recent years have seen a significant shift in the property investment world. The dream of owning buy-to-let properties has become less appealing for many, thanks to skyrocketing borrowing costs and a thickening web of regulations. However, this doesn’t mean that the road to building wealth through property is closed. In fact, there’s a silver lining…
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Housebuilding Hopes – Can the Spring Budget Rebuild Britain’s Property Dream?
The upcoming spring budget is poised to be a pivotal moment that could either reinvigorate the struggling housebuilding sector or deepen its woes. With mortgage rates on a downward trend and a general election on the horizon, the government’s next moves could be crucial in addressing the nation’s acute housing shortage. A Rough Year for…
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Is Now the Time to Invest in UK Property Stocks?
The UK housing market is showing flickers of recovery. But does this mean it’s time to invest in property stocks? Contrary to some analysts’ predictions, 2023 didn’t witness a property market crash. Mortgage rates began to decline, boosting buyer demand and giving sellers more confidence in their asking prices. The Royal Institution of Chartered Surveyors…
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Crest Nicholson’s Profit Plunge – Tough Year Ahead for UK Housebuilder
Crest Nicholson, the Surrey-based housebuilder, has announced a significant cut in its profit outlook for the third time in just six months. This decision, driven by escalating costs and unforeseen legal challenges, paints a concerning picture for the company and the broader housing sector. Escalating Costs at Brightwells Yard At the heart of Crest Nicholson‘s…
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Light at the End of the Tunnel – Persimmon’s Strong Quarter
Persimmon, one of the UK’s leading housebuilders, has recently shared some unexpected good news. Despite the challenges faced in the property market, the company surpassed expectations in the last quarter of 2023. This success comes amid falling mortgage rates, which played a crucial role in boosting property sales. Sales and Challenges In 2023, Persimmon sold…
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Redrow’s Financial Performance
Redrow, based in Flintshire, has forecasted its revenue for the 2024 financial year to be between £1.65 billion and £1.7 billion. However, its pre-tax profits are expected to be lower, ranging from £180 million to £200 million. This projection places Redrow’s annual results towards the lower end of its anticipated outcomes. Impact of External Factors…
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Taylor Wimpey’s Optimistic Forecast
In a climate where economic forecasts are often more gloomy than sunny, one of the UK’s leading property developers, Taylor Wimpey, is more optimistic. The company has announced that it is on track to hit the higher end of its profit forecast for the current year, a testament to its strategic operations amidst a housing…
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Persimmon’s Strategic Staff Reduction
The UK housing market is experiencing a notable slowdown, which has prompted Persimmon, a leading housebuilding company, to take decisive measures to sustain its financial health. Persimmon has announced a significant reduction in its workforce, with around 700 positions expected to be eliminated throughout the year. This decision aligns with a stringent recruitment freeze, signaling…