Influence - BrassTacks

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A quarter of home-owners are worried they will not be able to renew their mortgages - PropertyWire

A quarter of home-owners are worried they will not be able to renew their mortgages - PropertyWire

A quarter (23%) of home-owners are worried about renewing their mortgage during the pandemic, a poll from specialist broker Willow Private Finance has found. A third (32%) said their income was less secure now than before the pandemic, while more than one in 10 (12%) had to take a payment holiday during COVID. The proportion […]

Halifax: House prices rise by 7.3% - PropertyWire

Halifax: House prices rise by 7.3% - PropertyWire

Annual house price growth increased to 7.3% in September 2020, up from 5.2% in August, Halifax’s house price index has found. Prices have risen by 1.6% month-on-month, bringing the average price to £245,747. Russell Galley, managing director, Halifax, said: “A surge in market activity has driven up house prices through the post-lockdown summer period, fuelled […]

Homeowners remortgaging due to financial pressures of COVID-19 - PropertyWire

Homeowners remortgaging due to financial pressures of COVID-19 - PropertyWire

Almost one in 10 UK homeowners say they have remortgaged to relieve financial anxieties caused by the COVID-19 pandemic, according to a recent survey by Natwest. Natwest commissioned a survey to look into the remortgaging habits and attitudes of homeowners in the UK to gain a snapshot of how the pandemic has financially impacted homeowners. […]

Stamp duty holiday spurs 88% increase in sales in East of England - PropertyWire

Stamp duty holiday spurs 88% increase in sales in East of England - PropertyWire

Sharman Quinney, an estate agency network with 20 branches across Cambridgeshire, Lincolnshire, Northamptonshire and Rutland, saw an 88% increase in sales in August year-on-year. Almost nine out of 10 of the transactions are subject to no stamp duty, owing to the holiday. Mike Sharman, Sharman Quinney managing director, said: “Whilst trading was expected to return […]

Why access to mortgage finance is a real problem for first‑time buyers | Home | The Sunday Times

Why access to mortgage finance is a real problem for first‑time buyers

Two weeks ago a friend of mine texted me gleefully to say that her offer had been accepted on the starter home of her dreams. On Friday she told me she had withdrawn it because the stress of it all

Most first-time buyers wish that houses were cheaper — and soon they could be. The government has begun consulting on plans for a First Homes scheme to sell new-build homes to first-time buyers with

First Homes explained: how to buy a discount new-build

Most first-time buyers wish that houses were cheaper — and soon they could be. The government has begun consulting on plans for a First Homes scheme to sell new-build homes to first-time buyers with

The first rung of the property ladder just got further out of reach for buyers relying on a leg-up from the Bank of Mum and Dad. Britain’s second-biggest mortgage lender is cracking down on buyers who

Nationwide cracks down on deposits from Bank of Mum and Dad

The first rung of the property ladder just got further out of reach for buyers relying on a leg-up from the Bank of Mum and Dad. Britain’s second-biggest mortgage lender is cracking down on buyers who

RICS: Stamp duty holiday helping to lift demand - PropertyWire

RICS: Stamp duty holiday helping to lift demand - PropertyWire

The stamp duty holiday introduced from the 8th July is helping to lift demand, The RICS UK Residential Market Survey suggests. In July a net 75% of surveyors saw a rise in new buyer enquiries, the second month in a row that demand has rebounded significantly. A net 59% also saw instructions rise, up from […]

Government to extend Help to Buy scheme  - PropertyWire

Government to extend Help to Buy scheme  - PropertyWire

The government is planning to extend the Help to Buy scheme due to purchase delays caused by the pandemic. The FT reports that minister are planning to extend the scheme, which as it stands would require transactions to be agreed by December 2020. The scheme was due to end in April 2021, with a new […]

Stamp duty scrapped on homes under £500k - PropertyWire

Stamp duty scrapped on homes under £500k - PropertyWire

Stamp duty in the UK has been abolished for all properties under £500,000 with immediate effect in new plans set out by Chancellor Rishi Sunak (pictured). The new temporary measures will be in place until March 31 2021. Currently there is no stamp duty on transactions below £125,000, or £300,000 for first-time buyers for properties […]

Mortgage approvals still subdued in May - PropertyWire

Mortgage approvals still subdued in May - PropertyWire

The number of mortgage approvals for house purchase fell to just 9,300 in May, 90% below February levels, the Bank of England’s Money and Credit statistics found. Approvals for remortgage also fell by 42% from February to 30,400. Paul Stockwell, chief commercial officer of Gatehouse Bank, said: “The number of mortgage approvals in May is […]

One in six mortgages subject to a payment holiday - PropertyWire

One in six mortgages subject to a payment holiday - PropertyWire

Lenders have granted 1.9 million mortgage payment holidays due to the Covid-19 pandemic – accounting for one in six mortgages, UK Finance data shows. The amount being deferred is typically £755 per month. Eric Leenders, managing director of UK Finance, said: “Lenders understand that many households will continue to see their finances squeezed as the […]

Mortgage lenders change policies – roundup - PropertyWire

Mortgage lenders change policies – roundup - PropertyWire

Halifax, HSBC, NatWest and Virgin Money have all altered their lending policies. Yesterday Virgin Money increased mortgage rates by up to 0.49% on 2, 3, and 5-year fixes to 90% LTV with a £995 fee, while there were also increases to its 7-year and 10-year fixes. Today NatWest is making some rate reductions, including cuts […]

Government to relax stamp duty surcharge reclaim date - PropertyWire

Government to relax stamp duty surcharge reclaim date - PropertyWire

The government is relaxing the three-year rule for reclaiming the stamp duty surcharge. People who purchase new homes before selling their old home are subject to a 3% surcharge, which they can reclaim provided they sell the old property within three years. However, the lockdown caused by the coronavirus pandemic means some were unable to […]

95% LTV mortgage deals fall - PropertyWire

95% LTV mortgage deals fall - PropertyWire

The number of 95% loan-to-value 2-year fixed rates have fallen from 11 in May to just six in June, moneyfacts.co.uk data found. Meanwhile 95% LTV 5-year fixes have fallen from 11 in May to 9 in June. Danny Belton, head of lender relationships, Legal & General Mortgage Club, said: “The disruption caused by coronavirus and […]

Brokers remained confident in Q1 despite COVID-19 - PropertyWire

Brokers remained confident in Q1 despite COVID-19 - PropertyWire

Intermediaries remained confident in their own businesses’ outlook throughout the first quarter of 2020, research from the Intermediary Mortgage Lenders Association (IMLA) found. This is despite falling confidence in the wider mortgage market in March due to the COVID-19 outbreak. Kate Davies, executive director of IMLA, said: “It’s no real surprise that the coronavirus lockdown […]