February saw the second highest level of housing transactions in a month since February 2007 as buyers rushed to beat the original stamp duty deadline. Figures released by HM Revenue and Customs, showed 147,050 residential mortgage transactions were completed in February. The only month with a higher figure since February 2007 was in March…
The Royal Institute of Chartered Surveyors (RICS) has issued guidance on which residential buildings need an EWS1 form to clarify they do not have unsafe cladding. Following consultation by lenders, surveyors and fire safety experts new recommendations are set to be implemented by the 5th of April. The new advice will now require buildings of…
The Bank of England’s chief economist Andy Haldane recently commented that the British economy is like a ‘coiled spring’, ready to bounce back strongly when the pandemic is over. Bank of England data due to be released next week will show that the pandemic has strengthened household balance sheets, consumer debt has fallen and average…
Research by Barclays has shown some 30% of homeowners may have missed out on possible savings because they did not negotiate the purchase price of their current property. The survey of 2,000 homeowners in the UK revealed 22 percent did not know how to negotiate house prices, while others said feelings of embarrassment and…
The government’s £3.5 billion investment to replace unsafe cladding on buildings over 18 meters will not be enough to cover the scale of the problem. This is the view by many in both the mortgage and housing industry and those representing leaseholders who are concerned that it is nowhere near the £15 billion cost to…
The average equity release rate has fallen to a record low while the number of options available to consumers has reached a new high, according to the latest figures from Moneyfacts. The average rate across lifetime mortgages has dropped below 4% for the first time on Moneyfacts records, standing at 3.95% today. The average rate…
First time buyers accounted for around half of all home purchases in 2020, despite rising house prices and closure of the housing market during the first lockdown, according to research from Halifax. With the market largely grinding to a halt during spring, the overall number of buyers in 2020 was down by over 46,000 (13%)…
90 days before the stamp duty holiday comes to an end. Lenders, solicitors and surveyors have seen a significant increase in business levels and delays in standard service levels. So far, there has been no indication of an extension to the deadline and therefore service levels are becoming as important as interest rates and fees…
The scheme was outlined by the chancellor of the exchequer Rishi Sunak during the Summer Economic Update. From September homeowners and landlords in England will be able to apply for vouchers to pay for green improvements. These will cover two thirds of the cost of green improvements up to a maximim of £5,000 per…
Since restrictions on home moving and viewings were lifted in May estate agent Savills have reported that top end buyers are now driven by a desire for gardens and more outdoor space. The figures show that activity at the top end of the UK property market has surpassed expectations. Savills reported that towards the end…