How the bank of Mum & Dad can help first-time buyers

With property prices out of sync with wages, high rents and living costs rising, it comes as little surprise that first-time buyers are finding it hard to afford the deposit for a home. Unsurprisingly, many find they need to turn to the Bank of Mum and Dad for some additional financial help. The challenge facing … Continue reading “How the bank of Mum & Dad can help first-time buyers”

Two more years of Help to Buy will benefit First-Timers

The 2018 Budget contained measures aimed at tackling housing issues, including welcome news that the Government’s Help to Buy scheme was to be extended. Help to Buy was launched back in 2013 and is designed to make home ownership more accessible to first-time buyers and home movers. Under the scheme, the government offers a loan … Continue reading “Two more years of Help to Buy will benefit First-Timers”

UK housing market at a crossroads

The UK housing market is facing a unique combination of pressures, which could have major consequences for first-time buyers and sellers alike. In particular, the long-term trend of climbing house prices may be losing steam – but is this good news or bad news? Five straight months of falling house prices in London is just … Continue reading “UK housing market at a crossroads”

Homeowners would rather improve than move

New evidence suggests that, in England and Wales, many more of us are putting down roots and choosing to stay in our current homes for longer. It used to be that homeowners moved four times after their first purchase but now it is closer to two.  Research1 carried out by Queen’s University Belfast points to … Continue reading “Homeowners would rather improve than move”

Preparation is key to stress free home buying

A recent industry survey1 showed that 41% of people feel stressed by the mortgage process, taking the fun out of looking for a new home.  Although applying for a mortgage can involve alot  of paperwork, and the new affordability rules introduced by the industry regulator in 2014  mean borrowers face many more detailed questions before … Continue reading “Preparation is key to stress free home buying”

Looking for a mortgage in later life

With people getting on to the property ladder at all stages in life, a growing number are looking for mortgage finance in their 50s and beyond.  This has created demand for greater flexibility, and lenders are now beginning to address the needs of this age group. THE OLDER BORROWER Following the Mortgage Market Review in … Continue reading “Looking for a mortgage in later life”

July’s inflation statistics: another gloomy sign about the UK’s prospects?

What conclusions can be drawn from the most recent inflation statistics? Is it a sign of the UK’s ongoing weakness, alongside slower wage growth, and therefore another reason to avoid UK assets? Or should investors be encouraged by lower inflation? After all, it continues to lag wage growth, and at some points consumers must surely … Continue reading “July’s inflation statistics: another gloomy sign about the UK’s prospects?”

How long should you fix your mortgage for?

Most new mortgages are fixed deals as home buyers try to beat potential interest rate rises – and there’s been an increase in how long people are fixing for. Nearly half (48%) of new mortgages were for fixes of longer than five years in the most recent figures analysed by mortgage provider Paragon. This is … Continue reading “How long should you fix your mortgage for?”

Do you have the mortgage of Damocles?

Some borrowers are living with a sword hanging over their heads: a mortgage they have little or no hope of repaying. One possible answer is the “lifetime mortgage” – but it’s hardly ideal. What is an interest-only mortgage?  It’s one where only the interest is paid off each month, so the full amount must be repaid … Continue reading “Do you have the mortgage of Damocles?”