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ARCHIVE: Mortgage lending remains strong

Latest figures from the Bank of England have showed that mortgage lending during recent months has remained robust. In fact, during May, mortgage lending was £3.5 billion which is slightly higher than its recent average. The figures show that the number of mortgage approvals for house purchases was pretty much static at 65,502. However, growth has come from the remortgage market with approvals increasing slightly to 42,955*. (more…)

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Archived: Potentially save by remortgaging to a new deal

Latest research by the Moneyfacts UK Mortgage Trends Treasury Report* shows that borrowers could save £2,000 a year by remortgaging to a new deal rather than reverting to the Standard Variable Rate. Their figures show that the average cost of a two year fixed rate mortgage currently stands at 2.3% compared to the average Standard Variable Rate of 4.59%. (more…)

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Archive: Property prices in Salisbury up year on year

According to latest figures from the Salisbury Property Blog, property prices in Salisbury were up 10.4% year on year at the end of 2016. In Fact, in December 2016 alone, Salisbury property values rose by just over 2% leaving the average value of a Salisbury property at £359,400. This was reported in the Salisbury Property Blog on 22nd December 2016*. (more…)

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Archive: Contractors and self employed struggle to get a mortgage

Latest research from Accord has found that contractors and self employed struggle to get a mortgage. Their research showed that 22% of contractors and self employed workers believe it would be easier for them to secure a mortgage if they were employed full-time. This was reported on the Mortgage Strategy website on 28th November*. (more…)

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Archive: The New Forest remains the least affordable UK National Park to live

Latest research from Lloyds Bank has found that the New Forest is the most expensive UK National Park to live in*. They found that the average price of properties in the park is £577,979 which is 98% higher than properties in the surrounding areas. Year on year, the New Forest remains the least affordable as reported this time last year**. (more…)

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Archive: The Bank of England may raise interest rates in 2017

According to one of the UK’s leading fund managers, Richard Buxton, the Bank of England may be forced to raise interest rates in 2017. The markets currently forecast that there is a high probability that the Federal Reserve will increase interest rates in the US. And, Richard Buxton claims that the Bank of England will have to react by raising interest rates here in the UK. (more…)

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Archive: Are you thinking about selling your house this Christmas?

You may be surprised to learn that Christmas and New Year could be a great time for you to put your house on the market. According to Right Move, traffic numbers to their website from people searching for properties dramatically increase between Christmas and New Year, meaning that those looking to sell their house could be missing out on potential buyers by waiting until after the festive period*. With this in mind, December could be an ideal time to speak to your Mortgage Broker to find out what sort of property you could afford to buy. (more…)

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Archive: Government to end Help to Buy Mortgage Guarantee Scheme

Archive: Government to end Help to Buy Mortgage Guarantee Scheme

HtB_RGB_BoxAccording to a letter sent from the Chancellor Philip Hammond to the Bank of England, the Help to Buy mortgage guarantee scheme will not be extended beyond 2016. Under this scheme, the Government acts as guarantor for buyers so that lenders can offer 95% mortgages and was part of the Government’s commitment to helping people get on the housing ladder. Although the Help to Buy mortgage guarantee scheme will be closing, the other Government schemes such as the Equity Loan Scheme are set to continue. This was reported in the Independent Newspaper on 30th September 2016*. (more…)

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