Average cost of getting on the property ladder now £209,000!
Aug 13, 2018 No Comments In Blog By
Latest figures from The Halifax First Time Buyer review shows that the average price of getting on the property ladder is now £209,000! That’s a 21% increase over the past ten years. Back in 2008, the average price of buying your first home was just £172,659. However, despite the rise in ...
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Self-employed mortgages top mortgage broker searches
Aug 10, 2018 No Comments In Blog By
Research by Knowledge Bank indicates that the most searched product in July was in fact ‘mortgages for self-employed borrowers with only a year’s accounts’. This would suggest that the number of people who have recently taken the plunge to become self-employed is on the rise and that those same people are keen to understand their borrowing capabilities. ...
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Number of arrears and repossessions continue to fall
Aug 9, 2018 No Comments In Blog By
Thanks to a more sensible approach to affordability, the number of mortgage arrears cases and repossessions continues to fall. However, in contrast, the number of landlords in serious arrears has risen, which would suggest an increased strain on Buy to Let owners, potentially due to recent taxation changes. Will ...
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Stamp duty cut saves first-time buyers £284m to date
Aug 8, 2018 No Comments In Blog By
Figures out at the end of July show that First Time Buyers have saved £284m in would-be stamp duty payments since the Government announced the new £300,000 property threshold. According to government statistics, 120,000 first-time buyers have avoided paying stamp duty on their homes since these new rules were introduced. Under the new ...
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Average house prices rise to a record £230,280 – Halifax
Aug 7, 2018 No Comments In Blog By
Great article by Michael Lloyd on Mortgage Introducer today showing that Halifax’s House Price Index has seen house prices continue to rise compared to this time last year and this has pushed the average house price rising to a new record level of £230,280! But more importantly, Lloyd comments ...
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What can I borrow?
Aug 6, 2018 No Comments In Blog By
Whether you’re looking to buy a new home or simply find a better mortgage deal, Plus Mortgages can help. Whatever it is you’re looking to do, the very first thing you’ll need to know is what you can borrow. This can vary massively between lenders and all depends on ...
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Most borrowers unlikely to be affected from rate increase
Aug 3, 2018 No Comments In Blog By
Research by UK Finance shows that up to 95% of borrowers are unlikely to be affected by this weeks BoE rate rise, at least in the short term, because they opted for fixed-rate mortgage products. Given that the cost of lending is rising for Banks, customers on a variable mortgage ...
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MPC votes unanimously to raise Bank Rate to 0.75%
Aug 2, 2018 No Comments In Blog By
Interest rates rise from 0.5% to 0.75%. At its meeting yesterday, the Monetary Policy Committee voted by 9-0 to increase Bank Rate by 0.25 percentage points, to 0.75% Contact us to find out how this might affect you or visit the Bank of England website for more details by clicking here.
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So-called ‘cheapest’ mortgage deals may cost you nearly £900!
Aug 2, 2018 No Comments In Blog By
Customers seem fixated with finding the best interest rate but often don’t realise that this may be costing them more. Read the full article via Mortgage Strategy by clicking here. The true cost of the mortgage (over the product term) is the figure you need to look at. At ...
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