Posts in tag

housing market


Trying to come up with market forecasts over the past two years has been a bit of a guessing game. However, with almost all restrictions lifted and after 12 months of strong loans in the specialist financial market in 2021, I think we can feel a little more confident for 2022. Although gross lending in …

Eight in 10 consumers are worried about the rising cost of living over the next six months, according to a new YouGov poll. This national survey found that 39% were ‘very worried’ about the cost of living squeeze, with a further 45% describing themselves as ‘quite worried’. The findings come ahead of the Chancellor’s spring …

In late February, the Bank of England’s (BoE) Financial Policy Committee (FPC) released its promised consultation on plans to scrap the mortgage affordability test, one of two recommendations first introduced. in 2014. These recommendations include the loan-income stream limit (LTI), which limits the number of mortgages that can be loaned at an LTI ratio greater …

The LMS Remortgage Healthcheck Index hit its second-highest reading for the fourth quarter of 2021, after rising 2.6 points on faster growth in average approval values. The index, produced in partnership with CEBR, shows that the overall health check index reached 70.1. This was mainly due to a 5.7 point increase in the borrowing costs …

Foreign owners of UK property will be required to register their real identities in the new economic crime bill which the government has fast-tracked following the Russian invasion of Ukraine. The aim is to prevent foreign owners from laundering “dirty money” through British ownership and to increase the number of Unexplained Wealth Orders (UWOs) issued …

After a frenetic year that consistently exceeded expectations, it’s invigorating to look at 2022 with fresh eyes and assess what the market should be preparing for in the months ahead. Last year was characterized by a surge in sales fueled by the stamp duty holiday and second home buyers. Naturally, this has led to a …

Coming to what is – hopefully – the final round of the Covid pandemic and considering all the changes the past two years have brought to society, the economy and the way we are governed, Mortgage strategy thought it was time to ask a number of lenders what risks they were considering at the start …

“I don’t know about you, but I’m 22.” Yes, a big hello to 2022 and to all of you from Taylor and I. May I be the first to wish you a very happy new year. What? Is it February already? Either way, welcome to a bright new year and I hope you all had …

Skipton has issued two additional loan products specifically for borrowers who want to make green improvements to their homes. The products come in the form of discounted two-year base rate trackers, one for residential use and one for buy-to-let (BTL). For residential use, the mortgage is available up to 90% LTV and fixed at 1.09% …

Remortgage approvals fell seven points in the third quarter of 2021, according to the latest LMS Remortgage Healthcheck Index. The decline was attributed to slower growth in average endorsement values. The LMS report shows the overall health of the mortgage market and tracks the evolution of four key indicators: the volume and value of mortgage …

Taylor Wimpey told the Competition and Markets Authority that her tenants will no longer see their land rents double every 10 years. The homebuilder also said it would remove the conditions that led it to convert the land rent doubling clauses to a basis for increases on the retail price index. In addition, tenants’ ground …

According to the latest figures from NAEA Propertymark, demand from house hunters has continued to increase despite limited supply. The professional body for estate agency staff released its November housing report that studies the market. He finds that the number of registered buyers per branch increased 12% from October to November. The supply of properties …

MPowered Mortgages has launched an Eco EPC range, which offers a 10 basis point discount on rates for all properties with an energy rating of A, B or C. The digital platform indicates that the discount on its new green range is available on the range’s two, five and seven year fixed rate products (excluding …

As we approach the end of a year, I like to take stock of the past 12 months and crystallize my thoughts on what the next 12 might look like and what I can do to improve them. This ritual seems more important than ever given the state of the world over the past two …

UK average house prices hit a new record high of £ 272,992 in November, according to the latest Halifax index. That means a monthly change of 1% – the fifth consecutive month of house price increases – and an annual growth rate of 8.2%. Halifax also notes that the quarterly change – up 3.4% – …

Average 95% LTV rates are the lowest on record, Moneyfacts says. For a two-year patch, first-time buyers with a down payment of 5% will be able to obtain an average rate of 3.09% and, for a five-year patch, 3.39%. In December 2019, these rates were 3.25% and 3.57% respectively. However, the choice of products for …

Net mortgage borrowing in October stood at £ 1.6bn, according to new statistics from the Bank of England (BoE), significantly lower than the £ 9.3bn recorded in September and the highest amount low recorded since July 2021. The BoE says the drop was driven by borrowing “postponed to September to take advantage of the stamp …

The Homes England chief has defended the organization against claims that taxpayers may be overexposed to the risk of loss on his Help to Buy loan portfolio. Speaking to Members of the Housing, Communities and Local Government Committee yesterday, Homes England Managing Director Peter Denton was asked how much risk the taxpayer bears under the …

A “depressed” stream of new instructions is both dampening activity in the housing market and pushing prices to new highs, according to the Royal Institution of Chartered Surveyors. In its latest residential market survey, Rics shows the net balance of the new set of instructions at -20%, with average inventory levels falling from 42 in …

Bridge loans have returned to the highest levels seen since 2018, according to data from more than a dozen packagers in the industry. Gross lending by contributors to the survey reached £190.24 million in the third quarter of this year, the highest volume since the fourth quarter of 2018. Loans were up 30% to £146.52m …

There was little focus in today’s budget on the housing market, with the most important news being confirmation of development on brownfields and a tax on large home builders to fund the removal of the coating. Specifically, Chancellor Rishi Sunak said £24bn would be earmarked for housing, of which £1.8bn would be spent to commission …

Affordability remains the main disadvantage for people wishing to buy a home, which is why government programs such as Home Buyer’s Assistance have proven to be popular. Buying aid is due to close in 2023 and there are private companies looking to fill the void, but another way to get a foot on the housing …

Every time I see mention of the term “downward revaluation” I can’t help but think what an ever-present bone of contention this has been in my 35 years in the mid-market mortgage market, and yet it continues to be a misunderstood aspect of the home buying process. So it was with a wry smile that …

HSBC cut rates on its entire range of mortgages to 0.20%, leading to an offer of less than 1%. The discount applies to over 20 mortgage products on all LTVs, including the bank’s 95% LTV mortgage guarantee program rates. Following the update, the two-year 60% LTV fix, with a fee of £ 999, now comes …

Secure Trust Bank has confirmed it will stop granting new mortgages following consultation. The bank said it would not offer new mortgages to borrowers “until terms become more favourable” and contacted staff about it. The current economic climate, increased competition and pressures in the housing market were highlighted as having contributed to the decision. Existing …

Secure Trust Bank has started a consultation on a proposal to stop granting new mortgages. The lender says the action is taken in light of the current economic climate, increased competition and pressures in the housing market. The company intends to operate as normal throughout the consultation and says there will be no impact on …