Remortgaging entails changing your mortgage to a different deal. It can be with the same lender or with a new lender. People remortgage to get a better interest rate, to reduce monthly payments or to shorten the time it will take to pay back the loan. Remortgaging is also a way to borrow additional money for home improvements or to pay off other debts.Read More
It’s a turbulent time for landlords in the UK with tax changes, new regulations on fees and licensing as well as the uncertainty of Brexit all affecting the buy to let market. If you’re a landlord feeling overwhelmed by what is happening in the sector, we’ve summarised the key issues you need to know about in 2019 and beyond.Read More
If you’ve made the decision to move house then you will no doubt already be looking at potential new properties to buy. Ahead of putting your existing property on the market, it is a good idea to be prepared to help you sell efficiently and quickly so that you don’t lose out on that dream property you want to buy next.Read More
When buying a house, the ideal scenario is that you sell your existing property at asking price, find your dream house and move in. Unfortunately, this is not always the scenario that takes place in the complicated property world and people often find themselves unable to sell their existing property for the price they want and/or in time to buy their dream property.Read More
When getting divorced or splitting up with your partner, it is important to consider what to do about your joint mortgage. It is already a stressful time with many decisions to make but to avoid unnecessary costs and complications, deciding what to do about the mortgage should be high on the list of priorities.Read More
Whether you’re looking to buy your first house or to move up the property ladder, it is helpful to know the types of properties that lenders are more reluctant to lend for. Some properties are seen as being a bit riskier than others due to a range of reasons such as location, security issues, the requirement for repairs and the type of deal needed to enter into an agreement to buy.Read More
With a great deal of political and economic uncertainty continuing in the UK, alongside high stamp duty and general lack of affordability; the property market in 2019 is certainly facing further challenges and turbulent times.Read More
Buying a house is both exciting and stressful at the same time and whether you are a first time buyer or climbing the property ladder, you are guaranteed to receive lots of advice throughout your house buying journey. Now some of this advice will be helpful of course, however, some advice although given with best intentions intended, may not be so helpful.Read More
Parents in the UK are saving their children thousands of pounds a year by allowing them to live at home with them well into their 30s. With property prices so high in some areas of the UK, young adults are reluctant or simply unable to get a mortgage and onto the property ladder. And with rental costs also high across the country, many are opting to live at home with Mum and Dad.Read More
Finding the right house to purchase can take a lot of time and effort. There is often a long list of requirements a property needs to meet for it to be the right one and for some people, their decision may be based on a positive or negative feeling they get about a property. Often it is a combination of both. Once you have found the right house, you then need to secure it at the price you want to pay.Read More
The Bank of England has raised the interest rate for only the second time in a decade.
The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% - the highest level since March 2009.
While the decision means that the 3.5 million people with variable or tracker mortgages will pay more, the rise will be welcomed by savers.
Mark Carney, the Bank's governor, said there would be further "gradual" and "limited" rate rises to come.Read More
Lincoln is the cheapest university city to live in for graduates after Liverpool and Stoke-on-Trent, according to new research.
New figures analysed by Propillo found that Lincoln is the one of the most affordable university cities to live in, with the average rental price at £540 per month.
Taking the average cost of rental accommodation and cost of living into account, Lincoln leaves graduates with around £162.93 of disposable income each month.Read More
One year after graduation, the average graduate salary of £18,244 means the next generation of workers are limited to living in just 39.2% of England when the cost of living and rental prices are taken into account.
Online mortgage advice service, Propillo found out of 352 local authorities in England there are only 138 areas that will leave graduates with a surplus each month – the lowest of which being the Ribble Valley.
After paying rent and the cost of living, graduates living in this part of England will only have £1.10p left to save each month.
The most affordable location to live is Hartlepool in the North East. With an average rental cost of £446 per month and the cost of living being £647 per month, graduates earning £18,244 per annum will have £314.93 per month left as savings- which is £3,779.20 per year.Read More
BREXIT is not to blame for falling house prices in the UK, experts have declared amid signs Britain's property market is beginning to slow.
Earlier this week Halifax said UK house prices fell by 0.6 per cent in December and added prices only rose by 2.7 per cent during 2017, with the quarterly growth rate slowing to 1.3 per cent in October to December.
Critics suggested Britain's impending exit from the European Union has contributed to the fall in house prices.
But experts told Express.co.uk first-time buyers and limited housing stock is to blame.Read More
As part of a raft of measures to boost home-building the Chancellor has announced - as hinted - a cut in stamp duty for those buying a home for the first time.
Stamp duty has been blamed for the sluggishness of the housing market both for the younger and older generations. Experts say the chunky tax bill puts off young buyers and prevents older buyers from downsizing.
Philip Hammond's announcement, that most first-time buyers will pay no stamp duty at all, will be welcomed by many. The Conservatives will hope the policy will win back many of the young voters who abandoned the party and voted for Labour and Jeremy Corbyn in this year's election.
Unveiling the policy, Mr Hammond said that an anticipated "stamp duty holiday" for first-time buyers didn't go far enough and "would do nothing to help those who still have to save for years".Read More
An era of super-cheap 1 per cent mortgage deals has ended after just 18 months. Following the Bank of England's base rate rise earlier this month lenders have pulled all sub 1 per cent deals from the market, according to finance website Moneyfacts.co.uk.
The cheapest-ever mortgages were first introduced in 2016 amid falling interest rates.
In September HSBC and Skipton Building Society both had a 0.99 per cent 2-year base rate tracker but they have now risen to 1.24 per cent, in line with base rate.
And until October Yorkshire Building Society had a two year fixed deal, however it was withdrawn in anticipation of a rate rise.
Now the lowest two year fixed mortgage deal available is at 1.09 per cent from Santander.Read More
Millions of homeowners face higher mortgage payments after the Bank of England said it could no longer tolerate the inflation level and announced the first increase in interest rates in more than 10 years.
Despite weak growth and mounting uncertainty over the terms of Britain's exit from the EU, Threadneedle Street increased interest rates to 0.5% from 0.25% on Thursday, reversing emergency action taken immediately after the Brexit vote.Read More
Could Britain become one of those countries where property is so expensive that the only route to home ownership is to take out a mortgage that will never be fully paid off?
The City watchdog, the Financial Conduct Authority, has just taken us a step in that direction. It is consulting about allowing interest-only mortgages (where the capital debt is not reduced) to make a comeback. And it would potentially allow these loans to be advanced to borrowers in later life.
This would help a particular group of borrowers, now mostly in their 60s, who have existing interest-only mortgages and no means of repaying the capital. They could simply continue on the same basis.
But the move could have far greater ramifications. Britain could become more like Sweden, Switzerland or Japan, where rising property prices have resulted in mortgages that are not repaid within one borrower's lifetime. The benefits?
It means more people are able to own a part, if not the whole, of a property - and thus benefit from any increase in its value. The downside, though, is that paying interest on a loan for life is not unlike paying rent.Read More