Bank of England: Yes, there was a mortgage stampede in March April 29, 2016 The final – and perhaps most definitive – proof that mortgage lending surged in March has been published by the Bank of England this morning, showing just how much tax changes distorted the property market. After a string of industry reports said that investors and landlords rushed to snap up houses before the three per cent [...]
UK thinks it is “in the throes of a housing crisis”, according to new poll May 1, 2016 By now most are all too aware of the soaring cost of housing, leading to "generation rent" and pushing people outside city centres. But a new poll has revealed the extent to which people are concerned about the housing crisis. According to a poll for the Observer on attitudes to housing, 69 per cent of [...]
Stamp duty charges: The UK housing market needs more homes not more taxes April 1, 2016 Anyone waking up today who is planning or close to purchasing a second home may well feel as if an April fool's trick has been played on them. Whether helping a son or daughter get onto the housing ladder, investing in a buy-to-let property or buying a holiday residence, from today an additional three per [...]
Over-40s are on a mortgage shopping spree – but age restrictions mean they’re struggling to borrow February 23, 2016 The over-40s are going berserk for mortgages – but banks and building societies are having trouble lending to them because of age restrictions, new research has found. The findings, by Nottingham Building Society, suggested two in five mortgage brokers have reported a rise in mortgage customers over the age of 40 – but 17 per cent [...]
Chancellor George Osborne warns again Brexit will hit house prices May 21, 2016 Chancellor George Osborne again warned Brexit will hit house prices, as an immediate economic shock hits financial markets. Speaking at the G7 finance ministers’ meeting in Japan, he said: "There would be a hit to the value of people’s homes by at least 10 per cent and up to 18 per cent … first-time buyers are hit because mortgage rates [...]
London house prices: Asking prices hit record high as concerns grow over help to buy eligibilty February 15, 2016 London asking prices reached a new record high in February, property website Rightmove said this morning. Rising prices are making buying a new home difficult for many Londoners even when using the government’s help to buy scheme. Prices in Greater London climbed 5.4 per cent over the course of last month and are 10.5 per cent higher than [...]
Asda has mixed Prosecco and Pinot Grigio to create an unholy booze chimera February 17, 2017 Remember that time Italian politicians discovered British pubs were serving Prosecco on tap and, um, took exception? Well, there's a good chance Britain is about to offend their delicate sensibilities again, after Asda unveiled Progrigio. Yes, it's a Frankensteinian blend of Prosecco and Pinot Grigio. In an article for Asda Good Living, Asda wine buyer Jack Clayton describes it [...]
Housing crisis: Retired Brits twice as likely to fund their children’s home deposits May 12, 2016 RETIRED parents in Britain are twice as likely to fund their children’s home deposits than their counterparts in other English-speaking countries, with London pensioners even more likely to support their offspring. Putting the housing affordability gap into stark relief, research commissioned by payments provider UKForex showed that out of 1,135 British retirees surveyed, 27 per [...]
Savings ratio set to hit 50 year low as baby-boomers top savings chart April 29, 2016 The household saving ratio, the percentage of personal savings to disposable income, is forecast to fall to its lowest level in 50 years in 2016, according to a new report. The amount that people are putting aside is set to drop to 3.8 per cent, though this remains higher among older generations. Current savings levels [...]
Lack of housing hits first-time buyers January 22, 2015 Younger people are finding it difficult to get on the first rung of the housing market ladder due to a shortage of homes. A report by the Office for National Statistics (ONS) published yesterday shows how the total number of houses built per year has fallen from around 250,000 in 1980 to between 150,000 to [...]