The last few weeks have been a blur! Ever since the government gave the green light for the housing market to re-open it has seen things running, well, shall we say, a little hot. There has clearly been pent up demand for people to buy and sell homes, so the initial fears of an immediate…
Read more
Coventry Building Society and Accord Mortgages have today both launched products requiring only a 15% deposit, which shows further recovery within the U.K mortgage market. This news is hot on the heels yesterday that physical valuations will resume immediately with many lenders. Also, we have seen previously dormant lenders re-entering the market since the initial…
Read more
This is a question I have been asked a lot in the last 48 hours..! The main issue there is with getting the housing market moving, is having properties valued by lenders’s surveyors. Nationwide Building Society have sent a communication today (14th May) stating they expect to have the backlog of current valuations cleared by…
Read more
With the news that Government wants to re-open the housing market today 13th May we have received updates from a number of key lenders to say they are assessing the guidance as how to work safely in people’s homes during coronavirus, and will update us in the coming days. We have many clients who have…
Read more
Whether you can switch your mortgage deal during the COVID-19 outbreak has been a common enquiry since the start of the lock down period. There are two ways you can typically switch your mortgage deal, either by way of product transfer with your existing lender, or by arranging a remortgage to a new lender. A…
Read more
Members from the All-Party Parliamentary Group on Mortgage Prisoners today issued an open letter calling for a halt to repossessions against borrowers who saw their home loans sold onto inactive or unregulated lenders following the financial crash. Up to half-a-million mortgage borrowers in the UK saw their home loan sold onto such lenders following the crash,…
Read more
Housebuilders are in the firing line as the competition watchdog revealed it has found ‘troubling evidence’ that leasehold homes were mis-sold. Some 100,000 families across the country are currently trapped in unsaleable homes due to the restrictive terms in their leasehold contracts. The Competition and Markets Authority (CMA) said it has evidence that these families…
Read more
THE UK is leaving the EU this Friday and entering a transition period, which will impact homeowners in Britain. Boris Johnson’s Brexit bill passed through Parliament last week, paving the way for the country’s exit from the European Union. How could things change after January 31. This will see the UK remaining in the EU…
Read more
The self-employed face a looming crisis as millions are being locked out of home ownership due to mortgage lenders’ failure to understand their finances, experts have warned. Contractors, sole traders, gig economy workers, freelancers, and even early-stage start-ups all make up the UK’s 4.8million strong self-employed workforce. This number is growing rapidly, particularly among younger…
Read more
House prices fell unexpectedly in September as uncertainty around Brexit dampened activity, according to Nationwide’s index. The building society recorded a 0.2% fall from a month earlier, below a 0.1% forecast in a Reuters poll of analysts. Compared with September last year, the average house price across the UK rose by 0.2% to £215,352. But quarterly measures in Nationwide’s…
Read more
