House prices in the UK are rising and, as well all know, the main obstacle for many people who want to become homeowners is to save enough money for a deposit. This is a very serious problem for young couples, but it seems that those who are single and interested in living alone are in an even more difficult situation. According to a report by Savills, only 5% of council districts in England and Wales contain single home buyers (with a salary that is average in the area) who are able to buy a decent (moderately priced) property. Of course,…Read more..
Impending changes to the help to buy scheme which are due to be implemented from April 2016 should give a significant boost to the housing market according to property experts. Help to buy schemes enable you to buy a share of your home (usually between 25% and 75% of the house value) and then pay rent on the remaining share. This means you can buy a new-build or an existing property on a leasehold basis through a housing association resale programme. To do this you can either fund the purchase through your savings or take out a mortgage to cover…Read more..
The prices of UK houses have stabilized in September and the number of sales has increased. However, experts believe that the increased demand for houses and the lack of available homes will lead to an increase in house values over the next few months. According to a recent report by the Royal Institution of Chartered Surveyors, only a small percentage of property valuers have found higher prices in September even though the overall number of sales has increased. As a matter of fact the number of sales has reached the highest level in the past 16 months. The report also…Read more..
According to the latest official statistics, there are approximately 20% more house purchase approvals in September 2015 compared to last year. This is actually the highest level of house purchase approval since January 2014 when the support for mortgage lending through the Funding for Lending Scheme from the Bank of England was stopped. In addition, small deposit lending has reached record high levels in the past 7 years. When we compare the number of house purchase approvals in September with August, we will notice that there is a small progress (2% more). This means that this trend is not something…Read more..