House prices could collapse by as much as 20% amid coronavirus crisis The stock market is already pricing in a 12 per cent fall in house prices That would knock £28,000 off the average £234,700 selling price A fall of 20 per cent would knock £46,900 off average prices Coronavirus symptoms: what are they and … Read more
Most mortgage lenders HAVEN’T even passed on last week’s Bank of England base rate cut to customers – we reveal the ones that did The Bank of England cut base rate twice in as many weeks, now to 0.1 per cent This means lenders can now borrow money more cheaply than ever before Despite this … Read more
With the emergency base rate cut, a Budget and markets crashing amidst the escalating coronavirus crisis, many will be worried about how this chaos will hit their finances. In theory, mortgage holders with tracker deals and most of those on standard variable rates and discount rates should see a slight reduction in their monthly bills … Read more
Ministers fired a warning shot at banks this week as the top six lenders stand accused of failing to help mortgage prisoners switch to a better deal. In an open letter Treasury ministers urged banks to move quickly to help mortgage prisoners following some four months of inaction from lenders. The UK’s financial watchdog introduced … Read more
Housing market looks set for spring surge as January sees highest level of property sales for two years House transactions were 5.2% higher than in January last year, HMRC said Some 102,810 home sales transactions were recorded last month But the figures reflect sales agreed in September and October as transaction figures only settle after … Read more
Experts have warned that a ‘second stepper’ housing crisis may be looming as the cost of buying a home for a growing family continues to spiral. The price gap between the first and second rung of UK property ladder has more than doubled since the financial crisis – and in some towns is as much … Read more
Home buyers left disappointed after Stamp Duty overhaul fails to materialise but surcharge on foreign investors could ‘level the playing field’ for UK buyers Chancellor decides against Stamp Duty overhaul this afternoon in 2020 Budget The tax is due to bring £12.8billion into the Treasury’s coffers this tax year He confirmed a 2 per cent surcharge would … Read more
MPs call on lenders to halt all repossessions against mortgage prisoners until help arrives By Will Kirkman For Thisismoney.co.uk Published: 18:26 GMT, 9 March 2020 | Updated: 18:26 GMT, 9 March 2020 MPs have called on firms to cease all repossession proceedings against mortgage prisoners until a working group is established to help them. Members … Read more
How likely are you to get planning permission? New tool reveals approval rates for your town – with Carlisle at 97% but Harrow bottom of the pile Majority have planning permission applications granted Homeowners in the North East have the best chances of getting approval West London has the lowest average planning approval rate in … Read more
The housing market continued to show signs of improvement in February, but coronavirus could dent the nascent recovery, Halifax said today. House prices rose 2.8 per cent in the year to February, with the average property gaining £6,443 annually to reach a new record high of £240,677, according to Britain’s biggest mortgage lender. That marks a … Read more