Strong growth in remortgaging in April 2018 according to UK Finance

Latest UK Finance Mortgage Trends Update headlines ‘Remortgaging bounces back as borrowers put their house in order.’ UK Finance’s latest Mortgage Trends Update reveals there was strong growth in remortgaging in April 2018, with new homeowner mortgages up 36 per cent and buy-to-let remortgages up 32.4 per cent compared to the same month a year…

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Million pound house sales hit new high in 2017

New house price data from Lloyds Bank Private Banking reveals that the number of properties sold for more than a million pounds in Great Britain grew by 5% in 2017, compared to 2016, in the last decade million pound home sales are up by 73%. Louise Santaana, Head of UK Wealth Lending, Lloyds Banking Group,…

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Just under half of ‘Empty Nesters’ across the UK say they are not considering downsizing to a smaller property according to Lloyds Bank report

Just under half (45%) of Empty Nesters across the UK say they are not considering downsizing to a smaller property despite their children having ‘flown the nest’, according to the latest research from Lloyds Bank. lloyds Bank reveals that two fifths of parents don’t want to leave their family home because of strong links to…

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Consultation to shape a simpler and better complaints system for dissatisfied tenants and homeowners.

Anouncement published 18th February 2018 from The Ministry of Housing, Communities and Local Government and The RT Hon Sajid Javid MP – ‘Government moves towards a shake-up of broken housing complaints system.’ The announcement states in part: Dissatisfied tenants and homeowners across the country may be offered a lifeline as government considers options to ensure…

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Equity release market hits all-time high in 2016

A recent press release from Keyretirement.co.uk highlighted that retired homeowners withdrew more than £2.1 billion of property wealth last year 2016. New analysis from leading over-55s finance specialist Keyretirement.com reveals  that the equity release market hits new all-time high in 2016 after fifth year of growth. Dean Mirfin, technical director at Key Retirement (www.keyretirement.com), said: …

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young homeowner numbers plummets by more than half in 20yrs

New research by Savills for the Local Government Association (LGA) reveals that 46% of all 25-year-olds owned their home 20 years ago. In a generational shift, only 20% of 25-year-olds are on the housing ladder today, average house prices are now at 7.9 times average earnings, with the need for a high deposit creating an…

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Right to Buy helps thousands to become homeowners

An announcement last week published on the Gov.UK website from the Department for Communities and Local Government and Gavin Barwell MP headlined ‘Right To Buy: more than 56,000 new homeowners across the country’ New figures published 22 Septemebr 2016 show more than 312,000 households have now benefited from government-backed home ownership schemes including Right to…

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Should government provide deposits for ‘generation rent’?

A report published last week by Localis an independent think-tank dedicated to issues related to politics, public service reform and localism headlined ‘Turning Generation Rent into Homeowners’. The report makes the case for government to provide mortgage deposits for Generation Rent, it recommends the introduction of a government-backed deposit guarantee scheme for first-time buyers. The report…

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Voluntary Right to Buy scheme pilot launched

Housing association tenants are now becoming homeowners under the government’s extension of the right to buy scheme, a voluntary agreement between government and housing associations will give householders the opportunity to purchase their home under the new Voluntary Right to Buy scheme. The National Housing Federation has signed a deal with the government to offer…

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Many homeowners think that house prices are falling.

Many expected the bank base rate to be cut earlier this month  due to apprehension over the Brexit decision, this did not happen to the surprise of most. The MPC in their July meeting suggested that the committee is considering a broader package of measures, this has given rise to the expectation by financial markets…

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Harder and harder to get foot on ladder.

According to new research it could take new homebuyers up to 24 years just to save up for the deposit to buy a home of their own, getting that first foot on the property ladder is getting an  almost  impossibility. In an article in The Guardian it says,  The Resolution Foundation think tank has used…

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Private sector rent controls in Scotland

Nicola Sturgeon is an advocate of rent controls, she has outlined plans in the Scottish Parliament to introduce them through a Private Tenancies Bill, personally I have always thought some form of rent control would be the most sensible way of keeping a cap on private sector rents, however this method of controlling rents should…

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