As we enter the third national lockdown what does this mean for the property market?
New measures announced by Prime Minister Boris Johnson on the 4th of January see the nation enter yet another national lockdown in an attempt to slow the spread of the new COVID-19 strain. These measures are set to be in place until at least the middle of February and they include the closing of schools, […]
How will Brexit impact the UK property market?
On the 24th of December the UK and EU agreed a Brexit deal, after months of negotiations, which laid out the trade agreement and level of ongoing European involvement. As of the 1st of January, the Brexit deal came into effect. The housing market has remained resilient over the years, dealing with political and economic […]
Homes England introduce a new Dynamic Purchasing System (DPS) to replace the current Delivery Partner Panel from July 2021
From July 2021 a new Dynamic Purchasing System (DPS) will replace the current Delivery Partner Panel (DPP3). The DPS will change how Homes England procures housebuilders, increasing flexibility and introducing a new more proportionate approach to ensuring partners’ ability to deliver homes on sites. The DPS is planned to open for the first round of […]
Typical price premium of a home with a sea view is now £86,000 on average across the UK
As shown Property Market Index latest ‘Coastal Property Market for London Buyers Moving to the Coast’ report there is a growing trend of owning a property on the coast. A recent report from Rightmove states that the typical premium to buy a home with a sea view has surged by more than £19,000 over the […]
Largest 5-month gain in UK property prices since 2004
A new report from Halifax shows the UK have seen an increase of £15,000 on house prices since June. The report came shortly after rivals Nationwide’s report, and Halifax stated the average U.K. property price to be £253,243, an increase from £237,834 where it was at in June. “In percentage terms that equates to 6.5%—the […]
UK’s sharpest house price rise in 6 years
Nationwide report that house prices are 6.5% higher than last year, the steepest rise for nearly six years. The lender explains how despite the economic effects of the coronavirus pandemic the housing market has remained “robust”. Although the property price growth was anticipated to slow, in November house prices were 0.9% higher than in October […]
House prices rise in Wales as more people work from home
According to the Principality, house prices in Wales have risen despite the pandemic. Although there are fears over jobs and the economy, people have continued buying new homes. The building society state the reason for this is because working from home is becoming the “new normal” so people are looking for bigger homes with more […]
Help to Buy scheme to be replaced in April 2021
April 2013 saw the launch of the Governments Help to Buy scheme, a scheme launched to assist homebuyers by offering an equity loan interest free for the first five years of home ownership. The current scheme is available to both first-time buyers and homeowners, providing more affordable options to get onto or move up the […]
£7bn National Home Building Fund has been announced by Chancellor Rishi Sunak
In yesterday’s Spending Review Chancellor Rishi Sunak, as part of a new ‘national infrastructure strategy’, announced the launch of a new £7.1bn National Home Building Fund. This investment is said to be an addition to the £12.2bn Affordable Homes Programme previously announced. Sunak said: “To help finance our plans, I can announce we will establish […]
NatWest announce a series of interest-only and buy-to-let criteria changes
NatWest recent changes should allow brokers to help more clients secure an interest-only mortgage. Interest-only acceptable income types will now directly match NatWest’s capital and interest criteria. A new minimum combined income of £100,000 per year has been introduced for joint interest-only applications, but for sole applicants the minimum qualifying income will remain at £75,000 […]