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First-time buyers mortgages up by 38%

Lending to first-time buyers increased 38 per cent year-on-year in January 2014 as the market continues to gain strength.  There were 21,800 loans advanced in the first month of the year and their total value was £3.1 billion, according to data from the Council of Mortgage Lenders (CML). While both figures are down on December 2013, this can be explained by the ...

14th Mar 2014

Buyer numbers slow as market 'levels off'

Buyer numbers are starting to level off in the UK as the "initial clamour" surrounding the property market dies down, a national body has stated.  After a surge in demand in the previous year, the increase in the number of homebuyers dropped to its slowest rate since March 2013 last month, according to the Royal Institution of Chartered Surveyors (Rics). This ...

13th Mar 2014

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First-time buyers 'overlooking stamp duty charges'

Nearly a quarter of prospective first-time buyers fail to factor in the cost of stamp duty when looking at houses. It means they could find themselves stretched financially because of this oversight as the average stamp duty outlay exceeds £5,000, according to research by TSB. First-time buyers are not the only guilty parties, however, as 14 per cent of people buying ...

4th Mar 2014

First-time buyers 'driving housing recovery'

Lending to first-time buyers increased in all parts of the UK during the final quarter of 2013 as this group continues to drive the market's recovery.  London led the way, as 13,400 loans were advanced in the three-month period and this represented a 33 per cent year-on-year increase, according to figures from the Council of Mortgage Lenders (CML).  People ...

27th Feb 2014

Mortgage approvals reach highest rate since 2007

Mortgage approvals rose above 80,000 in January 2014 to reach their highest level in six-and-a-half years.  Total mortgage lending of £10.8 billion was up 38 per cent year-on-year and 49,972 loans were secured for new house purchases alone in the first month of the year, new figures from the British Bankers' Association (BBA) show. The buoyant lending market ...

26th Feb 2014

London buyer make-up differs greatly from rest of UK

The two speed market between London and the rest of the UK when it comes to foreign home ownership is increasing. Almost 44 per cent of buyers in London in 2013 were from abroad, but this figure drops to just five per cent for the country as a whole, the latest quarterly report from Strutt & Parker shows.   In terms of prices, buyers and growth, London continues to ...

25th Feb 2014

Cash buyers 'fueling mortgage market'

Around four in ten property purchases in 2013 were completed by cash buyers as mortgage lending plays a less prominent role in the housing market. The proportion of home purchases funded by mortgages dropped to 62 per cent last year, according to analysis by the Intermediary Mortgage Lenders Association (Imla). At its peak in 2006, this figure stood at 76 per cent and this ...

21st Feb 2014

Damp tops list of homebuyers turn-offs

Almost three-quarters of house hunters would be put off a property if it has damp patches on the walls and ceilings.  For 63 per cent, signs of disrepair, such as rotten windows, are also a big no-no, according to research by  Homebuyers were asked about their major turn-offs and no garden (57 per cent), lingering bad smells (56 per cent) and no ...

21st Feb 2014

Mortgage lending up 33% in January

Gross mortgage lending increased by 33 per cent year-on-year in January 2014. Some £15.5 billion was advanced for loans as buyers returned to the market in their droves, according to figures from the Council of Mortgage Lenders (CML).  Bob Pannell, CML chief economist, was particularly pleased with the average of 70,000 monthly approvals in the final three months ...

20th Feb 2014

27% increase in Scottish house sales

There was a 27 per cent year-on-year increase in the number of properties sold in Scotland in December 2013.  Sales topped 9,000 during the month, which represents the best monthly figures since July 2008, according to LSL Property Service's House Price Index. Average house prices in Scotland reached nearly £147,000 and it is a further sign of the property ...

20th Feb 2014

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