Self-employed people still face an uphill struggle in mortgage applications, but help is at hand. Though some lenders have tightened their criteria, others are working with mortgage brokers to encourage buyers with complex incomes. Article by Nick Green.
The disruption of the pandemic may have had one positive side-effect for homebuyers who have struggled to get a mortgage. With so many now facing financial uncertainties, lenders are having to be more flexible – and ‘complex credit mortgages’ could be on the rise. Article by Nick Green.
First-time buyers should be able to secure a mortgage with as little as a 5% deposit, with the government underwriting 95% loans, thanks to new measures in the 2021 Budget. The stamp duty holiday has also been extended. Article by Nick Green.
At least 1 in 4 mortgage holders are needlessly losing money every month by paying the maximum interest – and it could be many more. And yet it’s now relatively much cheaper to obtain a 5-year fixed rate mortgage for longer-term certainty. Article by Nick Green.
Having hit an all-time high in December 2020, UK house prices once again stand on the brink of uncertainty. Will they fall, rise, stay the same – or something else? Nick Green looks at the complex web of pressures on the property market.
First-time buyers can once again get on the property ladder with a deposit as low as 10%. However, the interest rates they now face may exceed 5%. Are there still affordable first mortgages out there? Article by Nick Green.
A couple with a new baby lost their life savings of £33,000 when the buyer of their home lost their mortgage offer after exchange of contracts, collapsing their chain. And a study suggests that thousands more may have faced a similar nightmare. Article by Nick Green.
Property auctions in the UK have soared in popularity, as one of the unforeseen side effects of the pandemic. Online auctions and the stamp duty holiday are driving more buyers and sellers down this faster route. So is it for you? Article by Nick Green.
Prime Minister Boris Johnson has promised that first-time buyers will only need 5% deposits under a new government scheme – but so far has provided few details. We look at how this might work, and how prospective buyers could take advantage. Article by Nick Green.
A growing number of homeowners are turning to remortgaging to release funds to improve their homes and raise their value. Meanwhile some lenders are seeing remortgagers as a safer prospect than new buyers, resulting in better deals becoming available. Article by Nick Green.
Stark warnings have been issued from lenders and mortgage experts that the property market could soon get much tougher and loans more expensive. But there are still ways for the more shrewd homebuyer to fulfil their ambitions.
The predicted house price crash has been averted – at least for now – by the stamp duty holiday. But many commentators predict the UK’s housing market will change significantly from here on.
The Chancellor has granted a stamp duty land tax holiday to homebuyers in England and Northern Ireland with immediate effect. It means that buyers of homes valued at up to £500,000 will no longer pay any stamp duty on the purchase.