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”

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”

Residential Property Review – November 2020

Housing market activity remains strong The October ‘UK Residential Market Survey‘ from the Royal Institution of Chartered Surveyors (RICS) reported another strong month for the housing market across the UK. The survey feedback indicated that buyer enquiries, agreed sales, new instructions and prices have all remained firm. A net balance of +46% of respondents cited … Continue reading “Residential Property Review – November 2020”

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”

Residential Property Review – October 2020

Our monthly property market review is intended to provide background to recent developments in the residential property market, as well as to give an indication of how some key issues could impact in the future. Housing market activity remains robust – for now Across the UK, housing market activity continued to advance strongly in September, … Continue reading “Residential Property Review – October 2020”

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”

Rain or shine? A guide to weathering the UK economy

The UK’s favourite habit is talking about the weather. But lately the economy has proved even harder to predict. So what’s the forecast for businesses, homebuyers, savers, investors and spenders? ‘The economy is bouncing back.’ ‘There’s a recession coming.’ ‘Don’t panic!’ ‘We’re all doomed.’ To say there are mixed messages about the UK economy right … Continue reading “Rain or shine? A guide to weathering the UK economy”