Yearly Archives: 2015

Archive: Home buyers benefit from new stamp duty system

In December 2014, a new stamp duty system was introduced by the Government. The aim was for the majority of those purchasing a home to save money. According to latest figures by My Home Move*, buyers have saved money under the new system. Over the last year, home buyers have collectively saved £1.9 billion in stamp duty costs with the average buyer saving £1,500. (more…)

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ARCHIVE: First Time Buyer purchases at highest level for six years

Latest research from the National Association of Estate Agents has found that house purchases by First Time Buyers are at their highest levels since August 2009. This was published on the What Mortgage website. The figures show that 31% of house purchases were by First Time Buyers which is the highest level or six years and an increase of 11% in the last two months. (more…)

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Archive: First Time Buyers worry they won’t ever be able to own a home

Latest research from the Halifax has found that many First Time Buyers are still concerned about getting onto the property ladder. This was highlighted in the Financial Reporter in December. The research has found that nearly a third are prevented from buying a home because they don’t think they will be able to get a mortgage. 42% worry about the amount of time it will take them to save to buy their first property and 40% think they will never be able to afford to buy their own home. (more…)

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ARCHIVE: Buy to let landlords face higher stamp duty

Landlords and those buying second homes will soon have to pay more in stamp duty, the chancellor has announced in the Autumn Statement. This was reported in the Financial Reporter on 25th November following the Chancellor’s Statement*. The changes will be introduced in April 2016 and will mean all Buy to Let investors and those buying a second home will have to pay an extra 3% on each stamp duty band. The aim is for this money to raise an extra £1bn for the Treasury over the next six years. (more…)

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ARCHIVE: The New Forest is the least affordable National Park to live in

Latest research from Lloyds TSB* has found that people pay, on average, nearly an extra £90,000 to live within a National Park. And, the most expensive National Park is the New Forest, near to where Your Mortgage Expert is based. In fact, the research found that the average house price in The New Forest National Park is 13.3 times more than the average annual earnings of those living there. With the average house costing £474,883 to live within the 150 square miles of forest that stretches between Salisbury and Southampton. (more…)

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ARCHIVE: Interest rates predicted to stay fixed until the end of 2016

According to latest predictions, the Bank of England interest rates are set to stay fixed until well into next year and possibly until December 2016. This is according to an article in Your Mortgage Magazine on 6th November 2015*. According to the article, the Bank of England voted eight to one to keep interest rates low because due to the state of the global economy, the price of oil and the very low levels of inflation. (more…)

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ARCHIVE: Popularity of fixed rate mortgages near to record levels

According to research from the Mortgage Advice Bureau, fixed rate mortgages are reaching record levels of popularity. In fact, during September 2015, 96% of homebuyers opted for a fixed rate deal. This was reported on the What Mortgage Website on 28th October 2015*. (more…)

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ARCHIVE: Price of flats rising more than house prices

According to research from Halifax*, flat prices have risen faster than house prices over the last 10 years. In fact since 2005, according to their research, the price of the average flat has increased by 60%. This is higher than all other types of houses including terraced houses, which increased by 41% over the same period, and semi-detached homes which increased by 25%. (more…)

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