Half-price houses? The First Homes scheme launches

The new First Homes scheme is now being piloted in Bolsover and will be rolled out across England from the end of June. It offers first-time buyers – and key workers especially – the chance to buy locally and affordably. However, some parts of the UK will remain much more affordable than others. First-time buyers … Continue reading “Half-price houses? The First Homes scheme launches”

What is the First Homes scheme and how does it work?

The First Homes scheme is a new policy that will provide discounted homes to first-time buyers in England who otherwise wouldn’t be able to afford one. More specifically, under this scheme, first-time buyers will be able to purchase a new-build home in their community at a discount of 30% on the market price. For an … Continue reading “What is the First Homes scheme and how does it work?”

Seven deadly mortgage sins to avoid

Many people were expecting that house prices would fall during the pandemic, or at least stagnate. Indeed, a lot of first-time buyers were wistfully hoping that it might happen. But the government didn’t want a property crash on top of everything else, so introduced the stamp duty holiday to buoy up the market and protected … Continue reading “Seven deadly mortgage sins to avoid”

Taking on the challenge of a self employed mortgage

Self-employed people still face an uphill struggle in mortgage applications, but help is at hand. Though some lenders have tightened their criteria, others are working with mortgage brokers to encourage buyers with complex incomes. If you run your own business, work as a contractor or earn through freelancing, then you’re disproportionately more like to have … Continue reading “Taking on the challenge of a self employed mortgage”

SVR mortgage confusion costs homeowners over £4k

At least 1 in 4 mortgage holders are needlessly losing money every month by paying the maximum interest – and it could be many more. And yet it’s now relatively much cheaper to obtain a 5-year fixed rate mortgage for longer-term certainty. Over a quarter of homeowners with mortgages have ended up on their lender’s … Continue reading “SVR mortgage confusion costs homeowners over £4k”

90% mortgages are back – but there’s a catch

First-time buyers can once again get on the property ladder with a deposit as low as 10%. However, the interest rates they now face may exceed 5%. Are there still affordable first mortgages out there? After several months being shut out in the cold, first-time homebuyers can now borrow up to 90% of the value … Continue reading “90% mortgages are back – but there’s a catch”

Mortgage market makes ‘astonishing’ recovery

Since the start of the coronavirus outbreak, positive news about the mortgage market has been hard to come by. Instead, we’ve seen predictions of economic disaster, soaring unemployment rates and a deep property market slump. However, as lockdown restrictions eased, the outlook started to look more hopeful, though infection rates started to rise in early … Continue reading “Mortgage market makes ‘astonishing’ recovery”

New property trends emerge following lockdown

The property market is gradually showing signs of recovery and a number of new trends are emerging. It’s likely that these trends will continue to influence the market over the coming months. Sales rise due to high demand Pent-up demand and incentives including the temporary Stamp Duty holiday have provided a much-needed boost to the … Continue reading “New property trends emerge following lockdown”

‘Generation Buy’ – PM pledges 95% fixed-rate mortgages

Prime Minister Boris Johnson hopes to bring back affordable 95% mortgages and ‘create two million more owner-occupiers’ under a new scheme already being dubbed ‘Generation Buy’.  It is not yet at all clear how the scheme would work, or what it might cost, but millions of frustrated buyers are doubtless hoping that it might help … Continue reading “‘Generation Buy’ – PM pledges 95% fixed-rate mortgages”

Remortgage to renovate: the new UK property trend

A growing number of homeowners are turning to remortgaging to release funds to improve their homes and raise their value. Meanwhile some lenders are seeing remortgagers as a safer prospect than new buyers, resulting in better deals becoming available. Being locked down at home has given millions more Brits a chance to notice the peeling … Continue reading “Remortgage to renovate: the new UK property trend”