It was a different world when Valerie and Paul Sanders* agreed to buy a £700,000, four-bedroom home in Orpington, Kent. They were cash buyers and the vendor was moving into rented accommodation; there was no chain, no hold-ups. But with the exchange scheduled for March 23, the day the UK entered lockdown, the sale became … Read more
Homes in three Northern towns have fallen in value over the past decade, while in some parts of London prices have doubled compared to 2010, new analysis shows. House prices in Hartlepool, Redcar & Cleveland and Blackpool are lower than they were ten years ago. But all of the ten areas where house prices have … Read more
Home seekers could soon be subjected to ‘health screenings’ by estate agents on the phone before viewing a property in person, a leading property website claims. Aside from this development in the property market, Rightmove says there are strong signs that buyers are poised and ready to move. Visits from potential buyers to the websites … Read more
Mortgage prisoners may finally be able to switch to a better deal after the City watchdog relaxes its rules By Sarah Davidson For Thisismoney.co.uk Published: 16:06 BST, 28 October 2019 | Updated: 16:06 BST, 28 October 2019 Mortgage prisoners locked into expensive rates have been offered a potential lifeline after the financial watchdog relaxed its … Read more
Average mortgage rates dropped to the lowest level on record as the property market officially reopened for business this week, but banks have not cut costs by as much as the Bank of England rate cut. Finance experts at Moneyfacts say the average two-year fixed rate is now at a record low of just 2.09 … Read more
We are first-time buyers and had an offer accepted on a property just before coronavirus hit. We still want to go ahead with the purchase and exchange after lockdown, but we’re worried that the house will be worth less by then? We don’t want to gazunder the seller or mess them around, but also we … Read more
House prices could take nearly a year to recover from the fallout of the coronavirus pandemic, the UK’s leading property professionals have warned. A Royal Institution of Chartered Surveyors report said that 80 per cent of its member agents had seen buyers and sellers pull out of property deals during lockdown. Last month, the Rics called … Read more
With the majority of Britons staying at home because of the coronavirus lockdown, along with impending financial woe and job panic, purchasing a property might be the last thing on many people’s minds. However, for some, they will be preparing to take part in an online property auction, bidding for houses they cannot see in … Read more
The property market has officially reopened for business after the Government said estate agents could restart viewings and home moves could go ahead again. Almost half-a-million property transactions that had stalled in lockdown can restart from today, while sellers can brave the market and buyers can go house hunting again. But it’s far from business … Read more
Rising numbers of older homeowners are resorting to equity release to help out loved ones during the coronavirus crisis. Despite the lockdown, equity release providers have handed out loans worth millions of pounds after strict rules were relaxed. Figures from a leading broker show that last month more home owners were taking out the loans … Read more