Many first-time buyers (FTBs) are not aware of affordable homeownership schemes that could help them get on the property ladder, research* has found. A recent survey asked renters in London about their perceived barriers to homeownership. Nearly half (48%) cited...

Property experts predict a surge in transactions early in 2025 ahead of Stamp Duty changes in April. In the 2022 mini-budget Stamp Duty thresholds were increased, so in the last two years homebuyers have paid a reduced amount of tax. However, in the Autumn Budget...

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Almost half (49%) of prospective buyers are looking for a ‘freshen-upper’ property, according to research*. A ‘freshen-upper’ – a home that only requires small scale improvements – was found to be the most desirable property type. Meanwhile, a move-in ready property...

Buying your first home is likely to be one of the biggest financial commitments you’ll be making in your life so far. So, how will you know when is the right time to take the leap? Here’s what you need to know about the housing market now. Will house prices come down?...

Mortgage lenders are making efforts to speed up their Application to Offer process*. According to a survey that explores the use of technology during the mortgage journey, all types of lenders have reduced the time it takes to process an application this year. High...

UK Finance has made recommendations on how the government can reduce the housing shortfall of 4.3 million. The report proposes that the current nil-rate band on Stamp Duty remains at £425,000, to help first-time buyers get on the property ladder. It calls for support...

Early repayment charges Most lenders charge an early repayment fee, so it’s essential to know what yours would be. You might work out that, despite the charge, clearing your mortgage is still the right option as you would save more money in interest costs. But if your...

Recent data has highlighted the negative impact of pricing your home too high. It can be tempting to put your property up for a high price, with a view to reducing it further down the line. But the reality is, cutting the asking price of a property comes at a cost....

Market experts have predicted that mortgage rates of 4.5% will be the ‘new normal’ in the UK. In August 2023, Bank Rate reached a 16-year high of 5.25%, causing the cost of borrowing to increase. Many hoped this was a one-off spike, but the CEO of Lloyds Banking Group...

Cuts to Bank Rate may be expected to ease some short-term financial pressure this year, but a report from the Bank of England suggests that mortgage payments are likely to rise for around three million households by 2026. Prepare for an increase The Bank observed,...

In August, the Bank of England (BoE) cut Bank Rate for the first time since March 2020. But what does this much awaited reduction mean for the housing and mortgage markets? Bank Rate Bank Rate is the interest rate that the BoE pays to commercial banks who hold money...

Following Labour’s landslide election win, much of the nation is waiting to find out what is in store for the UK housing market. Many major policy changes will be announced in the Autumn Budget on 30 October, but Housing Secretary Angela Rayner has already announced...

A concerning report has revealed that three in 10 young homeowners are going without life insurance*. An estimated 1.7 million mortgage holders aged 18-40 have not safeguarded their family’s financial future. If they were to die, their loved ones could be left to...