It seems that the UK housing market has experienced a remarkable upswing in the initial weeks of 2024. Recent reports indicate a substantial 13% increase in new sales agreed, showcasing a robust market rebound driven by pent-up demand and the enticing drop in mortgage...
As mortgage brokers, we encounter a common question from prospective borrowers: "How much can I borrow?" Many individuals rely on the widely circulated notion that they can borrow up to 4.5 times their income. However, this oversimplified rule is just the tip of the...
In the highly sought after Wimbledon real estate market, our clients embarked on the journey of purchasing a £5.4 million residential property with a substantial £2.2 million mortgage over a 22-year term. Focused on minimising their mortgage payments, our clients...
Green mortgages are mortgages offered to buyers either as an incentive to buy a more energy-efficient property or to make energy efficiency improvements in their current home. Most green mortgages see lenders offer a more attractive interest rate, or a form of cashback to buyers that you won’t get with standard mortgage products.
Mortgage lending by building societies such as nationwide and Leeds Building Society has risen by 22% in Quarter 3 of 2021 compared to Quarter 3 in 2020. Building societies now reportedly hold a 23% share of the total mortgage market.
Metrobank have announced that they have sold a portfolio of owner-occupied residential mortgages to NatWest as of today – Friday 19th of November. The bold decision is thought to have been made so that Metrobank can invest in other more diverse areas of money lending.
Our client made the initial climb on to the housing ladder by securing a shared ownership mortgage on his first home. After a few years of living in the property he wanted to explore his options with purchasing 100% of the shares in his home, something known as staircasing. That’s where we come in.
In newly release figures from property website Zoopla, annual rental growth reached the highest level for 13 years at 4.6% in the third quarter. The average cost of renting a home in the UK, excluding London, now stands at £809 per month, 6% more than a year earlier!
After several years of living the city lifestyle, our client wanted to buy his dream second family home in the idyllic historical coastal county of Cornwall in the Southwest of England. His main concern was that he wanted to keep his current property and didn’t have access to enough personal funds to put down a deposit on the new second property.
A lot of big changes in the mortgage processing world have happened within the last few months but we were all quite taken aback when Halifax announced last week that they would reducing their standard valuation fee across the board. Something that even experienced mortgage professionals did not see coming.
The Rightmove House Price Index has released surprising figures this month that show the average house price coming on to the market has reduced by 0.6% compared to last month’s figures potentially encouraging new buyers over the holidays.
Figures show that the 2021 average house price is now £256,000 and London’s average soars above this at £495,000! These figures can be quite disheartening but don’t fear, there is hope on the horizon.
Official statistics have shown that mortgage arrears across the board have fallen and continue to fall drastically, nearing historical lows according to UK Finance.
Fantastic news for people looking for a buy to let, buying at auction or, purchasing a property that might need a little TLC.
In 2019, Our client first came to us at Oportfolio to see how we could help him purchase his dream first home. Like many first-time buyers, our client did not know where to start and did not know what he could afford.
If you have any questions about UK mortgage news or anything you’ve read then please get in touch. We’d love to hear from you.
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