News
Possible interest rate rise later in 2014
13 June, 2014
Governor of the Bank of England, Mark Carney, signalled last night that interest rates may rise much sooner than expected – perhaps later on this year. Speaking at the Mansion House, Mr Carney, said that rates ‘could happen sooner than markets currently expect’, but the increases would be ‘gradual and limited’. Click here to read more… Read more »
House prices up by 11.1% according to Nationwide
3 June, 2014
It was reported today by the Nationwide building society that house prices have risen by 11.1% in the past 12 months, the largest year-on-year increase since 2007. Our very own Censeo Index also indicates that house prices are continuing to rise rapidly, fuelling fears of a housing bubble. However, some commentators believe that the market… Read more »
Student loans may make it more difficult to get a mortgage
2 June, 2014
The recently introduced Mortgage Market Review (MMR) means that students and former students may find it more difficult to get a mortgage. Under the new rules, students loans will be included as part of the affordability calculator, along with other items of household and personal expenditure. Click here to read more on this story.
Large growth in first-time buyer lending in the Capital
30 May, 2014
According to the Council of Mortgage Lenders (CML), there has been a large increase in the amount of first time buyer lending in London. In their latest report out this month, it was revealed that there has been a 29% increase in loans taken out by first time buyers compared to the same period last… Read more »
Introduction of a new set of rules governing mortgage lending
11 April, 2014
This coming month sees the introduction of a new set of rules governing mortgage lending. The Mortgage Market Review, created by the Financial Conduct Authority, is designed to protect consumers and prevent excessive or risky lending by mortgage providers. So what does this mean for borrowers? Simply put, the number of affordability checks carried out… Read more »
Large increase in the supply of affordable homes
25 November, 2013
According to new figures released by the the Homes and Communities Agency, there has been a doubling in the supply of affordable homes. The statistics, which cover the period 1 April to 30 September 2013, show that of the 12,569 homes started 9,970 were for affordable rent or sale – an increase of over 200… Read more »
Average rents across England and Wales rose to £757 per month in August
18 October, 2013
According to LSL Property Services, rents across England and Wales have overtaken all previous records, rising to an average of £757 per month in August. Nine out of ten regions saw rents rise between August and September. The fastest monthly rise was in the South East, where rents are 3.3% higher than a month ago…. Read more »
Alternative to Help to Buy unveiled
16 October, 2013
It was announced this week that Genworth has outlined an alternative to the Government’s Help to Buy mortgage guarantee scheme. The company, which provides mortgage insurance products to lenders in the UK, has a range of private insurance products which can provide many benefits and product features that are not available with the State guarantee. Click here… Read more »
Aldermore Bank joins second phase of Help to Buy
11 October, 2013
It has been announced that Aldermore Bank will be joining the second phase of Help to Buy from 1st January next year. So called Help to Buy 2 will allow borrowers with a five% deposit to buy property worth up to £600,000. The Government will then guarantee up to 15% of the loan, allowing borrowers to access… Read more »
Deposits cut due to second phase of Help to Buy
10 October, 2013
According to a report out by Zoopla, the second phase of the Government’s Help to Buy scheme has reduced the average deposit requirement for buying a property by £33,325 to only £11,108. Nationally there are 665,000 homes currently on the market which are eligible for Help to Buy 2 (with asking prices under £600,000) at… Read more »