Posts by EAN Breaking News
First-time buyer mortgage sales at lowest level since 2013
Fewer first-time buyers in England’s most urban areas While the rate of first-time buyer mortgage sales has been falling in London, they have risen in more rural areas. On average, rural areas in England and Wales saw rates of first-time buyer mortgages rise by 9.7% between 2013 and 2023, while urban areas saw a 3.7%…
Read MoreFirst-time buyer mortgage sales fell across London in decade to 2023
First-time mortgage buyers bought homes further from the capital compared to 10 years earlier, ONS analysis of Financial Conduct Authority data show. Several London boroughs saw some of the largest falls in the rate of first-time buyer mortgage sales in the UK between 2013 and 2023. This is according to ONS analysis of data from…
Read MoreFirst-time buyer purchases up 59% in race to complete ahead of stamp duty deadline
Missing stamp duty deadline to cost homebuyers £6,512 as mortgage demand surges in race for completion Spending on mortgages and rent grew by 7.7.% in February, up 5.7 percentage points from January, according to the latest Barclays Property Insights report. The report has also discovered that homebuyers could be faced with additional costs of £6,512…
Read MoreHalf of Private Renters Reliant on Benefits Face Rent Shortfall
Almost half of all private renters in receipt of housing benefits experience a shortfall between the support they receive from government and their monthly rents. That’s according to a new analysis by the National Residential Landlords Association (NRLA) ahead of a planned freeze of housing benefit rates in April. The most recent official data reveals…
Read MoreNew financial sanctions reporting obligations will apply to all letting agents
From 14 May 2025, financial sanctions reporting obligations will apply to all letting agents working throughout the UK as amended guidance and regulations made by the Office of Financial Sanctions Implementation (OFSI) come into force. Letting agents need to be aware that in contrast to the Money Laundering Regulations, the reporting obligations will apply to…
Read MoreEconomic certainty needed to bolster builders, says FMB
The 0.2% fall in construction output in January 2025, according to new figures from the Office of National Statistics (ONS), is another indicator that the economy is struggling despite the Government’s strong commitment to back development, says the Federation of Master Builders (FMB). Brian Berry, Chief Executive of the FMB said: “Winter is always a…
Read MoreHousing Insight Report – Covering January 2025
As widely expected, January 2025 saw an uplift in activity in the sales market due mainly to the Stamp Duty thresholds changing, requiring many homeowners completing from April onwards to pay more tax in England and Northern Ireland. Residential sales UK average house price dipped The average UK house price stood at £268,000 in December…
Read MoreMortgage Expert predicts interest rates will still remain higher than pre-pandemic levels
Hodge Bank’s 2025 Predictions: Interest Rates and House Prices Outlook James Enos, Hodge Bank, suggests consumers remain mindful that interest rates will likely still remain higher than pre-pandemic levels. The fate of house prices for 2025 are in the hands of consumer confidence and appetite to purchase. Hodge Bank anticipates that the year will see…
Read MoreLandlords optimistic about 2025, but concerns over regulation and economy remain
UK landlords remain confident in the buy-to-let (BTL) market, with many planning to expand their portfolios in 2025, but economic and regulatory uncertainties continue to dampen their outlook, new research from Market Financial Solutions has found. The London-based lender commissioned an independent survey of 300 UK landlords to gauge their sentiment towards the BTL market…
Read More61% of UK brokers relying on specialist lenders
Majority of brokers regularly use specialist lenders to place complex cases A new survey of 300 UK mortgage brokers has found: · 61% rely on specialist lenders to find the right product for their clients · 51% said that finding financial products for HNWIs and ultra-HNWIs is challenging · 56% find it challenging to…
Read MorePlanning Bill is a huge opportunity to save British construction
The Government has finally unveiled the Planning and Infrastructure Bill, introducing a number of measures that change some fundamental elements of how planning works. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), commented: “The Labour Government is wasting no time in proving that their manifesto pledges on planning reform are real. Planning…
Read MoreBank of England Mortgage Lenders and Administrators Statistics showing increase in first time buyers
Mortgage Lenders and Administrators Statistics – 2024 Q4 The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators. Key findings The outstanding value of all residential mortgage loans increased by 0.5% from the previous quarter to £1,678.2…
Read MoreLaw Firm Sees 94% Increase In Home Sellers ahead of Stamp Duty Change
Taylor Rose, the leading independent law firm, has seen a 94% increase in conveyancing instructions compared to last year. Data reveals that Taylor Rose has received 5,297 instructions – the point when a buyer moves forward with the purchase agreement of a property – in January and February 2025 compared to 2,738 in the same…
Read MoreUK Government must consider ‘unintended consequences’ of High Street Rental Auction powers
UK Government must consider ‘unintended consequences’ of High Street Rental Auction powers, NAEA Propertymark Commercial Advisory Panel suggests The ‘unintended consequences’ of High Street Rental Auction powers given to local councils must be considered by the UK Government, the NAEA Propertymark Commercial Advisory Panel has suggested. The Ministry of Housing, Communities, and Local Government (MHLCG)…
Read MoreMinisters could slash the number of official bodies that get a say in planning decisions in a drive to cut red tape.
As part of the Government’s pledge to build 1.5 million homes this Parliament, it will aim to cut red tape by consulting on removing a number of official bodies that have a say in planning decisions. The consultation will include removing Sport England, the Theatres Trust and the Garden History Society from the list of…
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