UK Mortgage & Property Related News
Mortgage rate cuts are being announced on an almost daily basis as lenders continue to reprice their home loan deals.
Barclays and TSB are the latest banks to announce mortgage rate cuts. TSB says its deals will reduce by up to 0.4 percentage points from tomorrow.
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The government is set to introduce a bill in the Commons next week which will ban landlords from evicting tenants without a reason. (no-fault evictions)
Ministers are expected to bring the Renters’ Rights Bill for its first reading.
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Our data reveals a striking trend: landlords buying property are getting younger.
The average age of landlords purchasing with a buy-to-let mortgage has plummeted from 46.4 in 2014 to 42.9 last year.
Our analysis of industry data shows that property is still attractive to younger investors. Landlords in their 30s have surged from 21% of mortgaged purchases to 31% in a decade, while those aged 18-29 now account for 10% of purchases.
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Navigating the mortgage market can be daunting — we spoke to a finance expert to get some advice that could make all the difference.
In an interview with Yahoo Finance Future Focus, Islay Robinson, CEO of Enness Global finance brokers, offered guidance for those seeking a mortgage.
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During the recent general election campaign, one key point of difference in the parties’ housing policies was that the Conservative Party pledged to introduce a new Help to Buy scheme, whereas Labour proposed alternative housing policies, largely focused on social rent.
Now elected, Labour is already pushing ahead with housing initiatives including greater powers and flexibilities in the Affordable Homes Programme, increased local authority funding for housing (to be announced in the next Budget) and changes to the Right to Buy.
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A growing number of homeowners have turned their attention to mortgage overpayments as they look to fight back against higher interest rates.
Santander, one of Britain’s biggest mortgage lenders, reported a 78pc rise in the amount overpaid by its customers between 2022 and 2023 – but it’s not always the best course of action.
Paying extra on your loan repayments can reduce the interest being clawed back by your lender and speed up the process of becoming mortgage-free.
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A Labour MP rents out flats with black mould and ant infestations, the BBC has discovered.
Jas Athwal, the newly-elected MP for Ilford South, owns 15 rental flats, making him the biggest landlord in the House of Commons.
In one block of seven flats owned by Mr Athwal nearly half the tenants said they had to regularly clean their bathroom ceilings to remove mould.
Mr Athwal has now also admitted his flats do not have the correct property licences required under a scheme he introduced as Redbridge Council leader.
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Landlords continue to flee the private rented sector with many actively looking to cut the size of their buy-to-let portfolios, leaving thousands of renters looking for somewhere new to live.
Analysis by TwentyEA had already revealed a substantial increase in landlords exiting the market or downsizing their portfolios.
Figures released last month showed that that the number of properties ‘for sale’ that were listed ‘to let’ in the past three years had risen dramatically.
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A new survey appears to lift the lid on why landlords remain in buy to let, despite the tax and regulatory controls now making the sector so challenging.
Paragon Bank surveyed 500 landlords with up to three properties and with declared ambitions to build larger portfolios.
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First-time buyers could now be able to secure bigger mortgages when applying with Halifax.
The mortgage lender announced today that it is making £2billion available for first-time buyers who need to borrow up to 5.5 times their annual income.
To be eligible for what Halifax is calling its ‘First-time buyer boost,’ buyers will need a total household income of £50,000 or more, which will need to come from employment.
They will also need to be purchasing a property with a deposit of at least 10 per cent.
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