In a move that's sure to make waves in the housing market, Halifax is shaking things up with some exciting changes to its product range. Effective from Thursday the 1st of February 2024, the following modifications are set to give homebuyers and homeowners more...
All the latest breaking UK mortgage and protection news, updated daily by industry experts.
Virgin Money Introduces Fix and Switch Mortgage Offering
In a response to the increasing uncertainty surrounding mortgage rates, Virgin Money has unveiled an innovative Fix and Switch mortgage offering, designed to provide customers with a unique combination of stability and flexibility in a challenging mortgage market. In...
UK Housing Market Soars as House Prices Surge in Early 2024
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...
Equity Release Is Popular With Pensioners
If recent events have taught us anything it is that jobs, income, and cashflow aren’t always as straight forward and secure as we might think. Sometimes, no amount of planning can prepare you for unexpected events and now more than ever, it is difficult to know how to make sure that you are financially secure when the economy is so uncertain.
Decline in Help To Buy applications evident
Since 2013 the government in conjunction with house builders has offered the Help to Buy scheme which was developed with the intention of helping struggling prospective home buyers to fund the purchase of a new build property. Initially the scheme was set to run until 2020 but was slightly restructured and extended until 2023. The scheme was an instant hit and people flocked in their thousands to make the most of a really incredible helping hand.
Interest in shared ownership rising
For many years, shared ownership was a rather specialist and quite uncommon means of purchase as most people understandably want to purchase an entire property rather than part of a property! However, as house prices have increased by 4.3% on average every year since 2011, it is becoming more and more difficult for people to both save enough deposit to buy a property and earn enough money to meet the mortgage lending required to purchase a whole property.
Deposit unlock scheme gives new hope for home buyers
Over the last few years there has been a lot of talk around deposits or, more specifically, the struggles that new buyers go through to save a deposit. With banks and building societies restricting lending and becoming seemingly more demanding when it comes to customer cash contributions, new buyers have become disillusioned with the whole idea and feel penalised by banks, building societies and home sellers in favour of older, more experienced purchasers.
Mortgage borrowing at the end of 2021 – Our take
Official figures release by the bank of England shows that both gross and net borrowing figures dropped across the board in December 2021. With January 2022 figures still to come, what can we say about this?
Halifax reports record number of first-time buyers
2021 was the most first-time buyer saturated year in at least 10 years according to Halifax intermediaries coming off the back of a year of pandemic uncertainty.
Mansfield Building Society joins Primis network
The Nottinghamshire based building society, which has been managing its customers finances and lending money in the UK since 1869, has joined the lender panel of Primis meaning that Primis advisors and brokerages will now have access to The Mansfield’s range of residential and buy-to-let mortgage products.
How generous are you parents?
With rent at an all-time high and independence being at the forefront of every young person’s mind, buying your first home can really make you feel like you have taken a huge leap in life and achieved something. But unfortunately, it’s not always as straight forward as saving a deposit and getting a mortgage.
Bite sized news: New hope for new build purchasers
This week another positive post-covid lender update has been revealed as Accord Mortgages announced that they will be increasing their maximum mortgage loan to values.
Is the mortgage market set for a slump in 2022?
2021 saw an astronomical increase in properties going on the market and new buyers looking for mortgages. However, figures so far have already suggested that this is falling fast already in the first 10 days of 2022 and is due to fall even further as the months and years go on.
Mortgage rates creep up
Hearing ‘Rates on the rise’ in the news has become something to dread but is that really sensible? And is it something we should actively worry about?
West Brom offer long fixed term mortgages
West Midlands based building society The West Brom have announced that they are launching 10 year fixed mortgage products, something that could be a massive game changer for buyers and remortgagers.
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