Boris Johnson has announced a 5% mortgage deposits plan for first-time buyers to transform “generation rent” into “generation buy”. Speaking at the Conservative Party Conference, he promised that the plan would create 2 million more owner-occupiers in the UK. The pledge was one of a series of ambitious promises in the prime minister’s speech to…
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UK mortgage approvals have risen to new highs according to data released from the Bank of England on Tuesday,1st September. The number of mortgage purchase approvals “continued increasing sharply in August”, rising to the highest figure seen since October 2007, according to the latest figures from Bank of England. UK mortgage approvals for purchases rose…
The latest Nationwide House Price Index figures revealed,the UK house prices have seen an annual increase of 5%, the highest growth since September 2016.The average house price is now standing at £226,129.The figures also revealed that month-on-month prices have increased by 0.9%. Commenting on reasons for the increase, Robert Gardner, chief economist at Nationwide, said:…
The Coronavirus pandemic has had an unprecedented impact on the British economy. Many mortgage prisoners are finding themselves facing huge financial challenges in these difficult times. The Covid 19 crisis has also essentially created more mortgage prisoners. Clients whose borrowing is at a high LTV, particularly 90%+, have been unable to remortgage due to products…