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A fifth of Britain’s wealthiest people are TURNED DOWN for mortgages despite having hundreds of thousands in the bank Not having a monthly pay slip means they struggle with ‘tick box’ applications Wealthy individuals also have issues applying for overdrafts and credit cards The problem has become worse, according to survey by a mortgage provider … Read more
Average property prices continued to rise everywhere in the country apart from London in the past month, new findings have suggested. But despite remaining open throughout the latest lockdown, the property market has started off 2021 on a ‘weaker footing’, with sales, listings and interest from prospective buyers waning, the Royal Institute of Chartered Surveyors … Read more
There are several avenues for complaints if your new-build home is defective Until the new code and ombudsman service comes into force – probably later this year – these are the options for homeowners who are unhappy with the quality of their new build. 1. Use your warranty If your new-build is less than 10 … Read more
The proportion of first-time buyers spending more than £1million on their homes has doubled in the past year. Two per cent of buyers spent a seven-figure sum on their first home in 2020, compared to one per cent the year before, according to data from the estate agent Hamptons International. Based on Halifax data which … Read more
Getting on to the property ladder is an aspiration shared by millions of people across the UK. Roughly two in five UK households are in the private or social rented accommodation according to ONS figures, and many will have aspirations to buy. However, rising house prices mean that becoming a homeowner can seem an increasingly … Read more
The term Rio might initially bring to mind the colourful Brazilian city, or for fans of Duran Duran, a lady who dances on the sand. In mortgage terms, however, it refers to a Retirement Interest Only mortgage – a product which allows older homeowners to only pay the interest on their home loan until they … Read more
Although the property market was buoyant for much of 2020, hundreds of thousands of would-be home movers still saw their property purchases fall through. A total of 306,198 property transactions fell through last year, a 12.26 per cent rise from 2019 when there were 272,768 fall-throughs, according to the residential property data agency TwentyCi. Fall-throughs … Read more
MPs from both main parties have argued for the extension of the stamp duty holiday, to allow people who are already in the process of buying a home to benefit from tax savings of up to £15,000. The issue was debated in a virtual House of Commons session yesterday, which saw the majority of the … Read more
Mortgage approvals for house purchases hit their highest level since the financial crisis last year, as the stamp duty holiday and socialising restrictions kept buyers engaged with their search for a new home. There were a total of 103,400 approvals for new mortgages in December 2020, bringing the total for 2020 up to 818,500, according … Read more
Shaun Bailey, Conservative candidate for Mayor of London, admits he is facing an uphill battle to unseat Sadiq Khan in the May election. Lockdown, he says, has made campaigning nigh on impossible and he sees himself very much as the ‘underdog’ in the election, postponed from last year. But there’s no denying that 49-year-old Bailey … Read more