The public lockdown amid the coronavirus pandemic has restricted our lives in ways previously unimaginable. Stockmarkets have plunged, companies in every sector could need billions in government bailouts to survive and high streets are deserted. The Bank of England has been forced to slash interest rates to near zero in a bid to shore up … Read more
Homeowners who bought with a small deposit and are now nearing the end of their fixed or tracker rate deal could find themselves forced onto a higher interest rate, pushing monthly payments up significantly. Most lenders say they will honour the Government promise to offer homeowners struggling financially due to coronavirus a mortgage payment holiday … Read more
Britain’s property market and economy could enjoy a ‘strong rebound’ once the coronavirus crisis ceases, Nationwide suggested. The latest Nationwide house price index painted a picture of a property market before coronavirus hit, with the average cost of a home up 3 per cent annually as home values rose at the fastest pace since January 2018. … Read more
If you’re trying to move house and are unsure how the Government’s announcement will affect you, removal quote provider Reallymoving has put together the following advice: Securing a mortgage · Be prepared to provide evidence of job security, something banks will be checking even more closely than usual. · With surveyors currently unable to carry … Read more
Banks and building societies pull a THIRD of all mortgage deals in just three weeks as worry over coronavirus grips the market There are 30 per cent fewer mortgages on offer then just three weeks ago Nationwide, Halifax and Barclays have all pulled higher loan-to-value deals Experts worry a lack of competition may mean mortgage … Read more
Craig Aynsley and his partner Claire, pictured in happier times before he fell ill with cancer Craig Aynsley, 46 from Northumberland, has been unable to work for five years after two separate battles with cancer – but thought his life had turned a corner last year after finding his dream home. After putting down a … Read more
Almost 2,000 more first-time buyers get on the property ladder each month, as they take advantage of cheaper homes, generous mortgages and stamp duty cut First-time buyer numbers jump by 5.8 per cent compared to last year July saw a year-high in the amount lent to people buying their first homes Fewer homeowners are remortgaging than … Read more
The Government has told the public not to move house during the coronavirus outbreak – but yesterday said there are exceptions in certain circumstances. Home buyers and sellers were left in limbo this week after the Government urged the public not to move house while the lockdown continues across the country. As a result tens of thousands … Read more
Two of Britain’s biggest banks have pulled new mortgages for all but those with the biggest deposits or sizeable equity in their homes. Barclays and Halifax have both stopped selling all mortgages above 60 per cent loan-to-value this week, as the housing market grinds to a halt amid the coronavirus outbreak. The move triggered by … 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