Posts Tagged ‘mortgages’
Substantial increase in remortgage lending
The Council of Mortgage Lenders (CML) data shows on an unadjusted basis, lending in January. Home-owners borrowed £8.4bn for house purchase, down 25% month-on-month but up 12% year-on-year. They took out 46,200 loans, down 27% on December but up 5% on January 2015. First-time buyers borrowed £3.3bn in January, down 27% on December but up 14% on January…
Read MoreHousing market slowdown expected from April.
In just under 4 weeks time, starting the 1st April the new stamp duty rate for buy-to-let investors and second home buyers comes into force, many are trying to beat the deadline so as to make the saving of the extra 3% they would be paying after the cut off date. Agents and conveyancers alike…
Read MoreNationwide HPI for February
In it’s monthly House Price Index (HPI) report, the Nationwide reported house prices increased by 0.3% in February, no change from the previous month, a slight acceleration in annual house price growth to 4.8%. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist said: “UK house price growth remained steady in February, with prices increasing…
Read MoreMortgage approvals in January
UK mortgage approvals reached a 2 year high in January according to data recently released from The Bank of England, mortgage approvals for house purchases were numbered at 74,581 in January from 71,335 in December. Consumer credit is also on the rise, many households spend more as they see the value of their home rise…
Read MoreVarious factors weighing on housing market activity
Interest rates are expected to remain at their record lows until 2019, according to recent forecasts, the Governor of the Bank of England, Mark Carney, was recently reported as saying “an unforgiving global environment was likely to keep rates at a record low of 0.5pc for longer than previously expected”. With the average mortgage loan-to-income…
Read MoreTurn round in Home Ownership
According to a press release yesterday from the Department for Communities and Local Government and Brandon Lewis. Figures have shown the success of government initiatives to give hard-working families across the country the chance to realise their ambition of home ownership. New figures show that more than a decade-long decline, starting in 2003, in the…
Read MoreMore rent than pay a mortgage in london
New figures just out show that renters in the capital outnumber homeowners for the first time in a more than a decade, government data released yesterday shows that last year 898,000 London households were occupied by private renters. The figures, which provide data from as far back as 2005, show that a decade ago just…
Read MoreRepossessions fell in 2015
Figures from mortgage lenders show that the number of homes repossessed fell to an 11 year low in 2015. Across the UK 10,200 repossessions were recorded in 2015, almost half the 20,900 cases recorded in 2014, that is according to the Council of Mortgage Lenders (CML). They reportedly pointed out that a court case which…
Read MoreInterest is high for the Help-to-Buy Scheme
Help-to-Buy is the scheme whereby first or next time buyers can purchase a new-build property, maximum purchase price for elegible properties is at £600.000. Buyers will be contributing a 5% deposit from their own funds while receiving a 40% interest-free government loan for five years, allowing them to take out a mortgage of 55% loan-to-value.…
Read MoreTougher times for landlords needing mortgages
Buy-to-let landlords will not find it so easy getting a mortgage for their investment in 2016, in the coming months the Treasury is expected to hand over greater powers to the Bank of England when it comes to regulating the buy-to-let mortgage sector. The buy-to let sector has been increasing year on year in recent…
Read MoreLimited companies being used by landlords
To avoid the higher taxes being introduced by the government more and more landlords are using limited companies when applying for their buy-to-let finance, lenders are responding to this new demand by offering an increasing number of loans available to those who apply through registered businesses. Landlords will be taxed on the full rental income…
Read MoreBleak future for BTL landlords with mortgaged properties.
The attack on the buy-to-let sector by the government since the election is certainly having its effect, new regulations and crippling taxation are putting investors who purchase mortgaged properties into a position whereby they are set to lose money within 5 years, regardless of which region they intend to invest in, that is according to…
Read More25% rise in mortgage approvals in November
The number of UK mortgage approvals in November rose 25% to 76,295 compared to a year ago, according to the British Bankers’ Association last thursday. A 20% increase in loans for house purchases was seen, a figure of 44,960 was recorded, this was below the estimates of 46,000, remortgaging surged 31% last month to 23,446…
Read MoreEngland’s most expensive residential street
Victoria Road in West London’s Kensington, has been crowned the most expensive street in the UK according to research out last week from Lloyds Bank. Just around the corner from Kensington Palace in the the heart of Kensington, Victoria Road is now England’s most expensive residential street, with an average house price of £8,006,000, 12…
Read MoreBuying cheaper than renting for FTB’s
Recent research from Santander Mortgages suggests that potential first time buyers would find it cheaper to buy than rent at the present time, they state that average rental prices are greater than average mortgage repayments in every region of the UK, a saving for first time buyers on average of £2,300 per year if they…
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