Residential Property Review – June 2021

Renting less expensive than buying a property Research from estate agency Hamptons, suggests that renters are better off than buyers for the first time in five years. The study found that, just prior to the pandemic in March 2020, the average buyer with a 10% deposit was better off than renters by £102 per month. … Continue reading “Residential Property Review – June 2021”

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”

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”

Residential Property Review – May 2021

Queen’s Speech is ‘significant‘ for housing market A key announcement in the Queen’s Speech on 11 May was a new Planning Bill, which aims to simplify and speed up the planning process using a digital, map-based service, allowing more active public engagement in the development process. The reforms should allow homes, schools and hospitals to … Continue reading “Residential Property Review – May 2021”

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”

Residential Property Review – April 2021

Spring sees the busiest ever housing market Growing optimism due to the vaccine rollout, the return of low-deposit mortgages and the Stamp Duty holiday extension for England and Wales, have contributed to make this spring the best time to be a property seller in a decade, according to property website Rightmove. The online property portal … Continue reading “Residential Property Review – April 2021”

Residential Property Review – March 2021

Stamp Duty holiday extension In his Budget on 3 March, Chancellor Rishi Sunak confirmed an extension to the Stamp Duty holiday in England and Northern Ireland. Rather than ending on 31 March, as originally announced, the nil-rate threshold for Stamp Duty will remain at £500,000 until 30 June. The extension means that buyers will save … Continue reading “Residential Property Review – March 2021”

How will house prices move in 2021?

Having hit an all-time high in December 2020, UK house prices once again stand on the brink of uncertainty. Will the fall, rise, stay the same – or something else? Despite being one of the most economically turbulent years in living memory, 2020 ended with UK house prices – almost incredibly – at a record … Continue reading “How will house prices move in 2021?”

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”