UK Mortgage & Property Related News
As first-time buyers currently make up over a third of mortgage activity, Miller Countrywide estate agency is encouraging anyone aspiring to buy their first home to do their research and look at all the options available to help them take their first step onto the property ladder.
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The UK mortgage market is poised for growth in 2025, with lending activity expected to rebound amid improving economic conditions and stabilising interest rates.
According to the latest report from the Intermediary Mortgage Lenders Association (IMLA), gross mortgage lending is projected to increase by 16% to £275 billion, up from £237.5 billion in 2024. This growth is attributed to easing affordability pressures and greater demand for remortgaging as rates settle between 3% and 4%.
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Mortgage market activity and house prices proved surprisingly resilient in 2024 given the ongoing affordability challenges facing potential buyers.
That’s the view of the Nationwide, in a market snapshot suggesting a strong start to 2025 after a broadly strong 2024 too.
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The number of mortgage approvals made to home buyers dipped in November, although it remained above the monthly average seen over the past year, according to Bank of England figures.
Some 65,700 mortgage approvals for house purchases were recorded in November. That’s some 2,400 lower than October but above the previous 12-month average of 60,400.
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40% of first-time buyers gave up being self-employed to ensure they could secure their mortgage repayments, according to new research from Aldermore.
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Thousands of homeowners have been warned about mortgage arrears, as new figures show huge numbers are struggling to make repayments.
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Homeowners in parts of Northern England are more than twice as likely to be behind on their mortgage repayments as those in the south, new research has revealed.
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Some of the UK’s biggest banks are set to shed light on whether borrowers are benefiting from lower interest rates, as the lenders continue to shake off ongoing economic uncertainty.
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While having the odd bet on your football team to win at the weekend sounds like a bit of harmless fun, it could actually scupper your chances of getting a mortgage.
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Whilst affordability remains the biggest stumbling block for those wishing to get onto the property ladder, interest rates have reduced and there are plenty of mortgage options available for first time buyers, according to financial service Defaqto.
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