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January mortgage lending highest since 2008

The value of mortgage lending in January 2017 reached its highest levels since 2008 figures from the CML have shown*.  Mortgage Lending reached £18.9bn in January which is 2% higher than January 2016 but still 6% lower than December’s total lending of £20bn. According to the CML, the strong market figures can be attributed to an increase in First Time Buyers and people remortgaging which has offset the weaknesses in the Buy to Let and home movers markets. (more…)

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Number of people remortgaging up year on year

According to figures from the BBA, the number of people remortgaging their properties rose by 15.7% year on year to January 2017. BBA claim that the rise in people remortgaging can be attributed to the low interest rates with people taking advantage of the competitive mortgage offers. This was reported in the Mortgage Introducer during February*. (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: 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: Homeowners remortgaging in July benefited from lower mortgage rates

According to LMS, many homeowners who remortgaged during July saved money on their monthly bills thanks to lower mortgage rates. The report also found that 35% of homeowners who remortgaged in July did so in order to reduce their payments and reported a monthly saving of £200 or more. (more…)

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Archive: Property prices to rise 3.3% a year

According to the Royal Institute of Chartered Surveyors, UK property prices will rise by an average of 3.3% a year for the next five years. This is despite concerns over the housing market following Brexit. The report also found that market activity picked up again during August following five months of decline before and immediately after the Brexit vote. This was reported in September on the Yahoo website*. (more…)

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Archive: Brexit vote hasn’t stopped house price rises

Latest figures from the Nationwide House Price Index have found that the average price of a property has increased by 0.6%. This means that in August 2016, the average house price was £206,145. This was reported on the What Mortgage Website in August 2016*. Although house prices have increased following the Brexit vote in June 2016, the report also showed that mortgage approvals have progressively slowed since April 2016 when the changes to Stamp Duty for those with second homes were brought in. (more…)

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Record low mortgage deals set to continue

According to Money Facts, the current record low mortgage deals available for consumers are predicted to continue. This was reported in July on the What Mortgage website. The company has found that there is still fierce competition in the mortgage market meaning that mortgage rates have fallen in the first half of 2016. This means there are record low rates again with the average two-year fix rate mortgage reducing by 0.24% since January. During the same period the average five-year fix has fallen by 0.19%. (more…)

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16% have never switched their mortgage product

According to latest research from YouGov, 2.5 million of all those with a mortgage have never changed their mortgage product. Further research from HSBC has also found that more than 1.9 million people feel “overwhelmed” by the process of getting a mortgage, with 6% of mortgage holders saying getting a mortgage was the most stressful experience of their life. This was reported on the Mortgage Introducer website in June*. (more…)

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Remortgage lending reaches seven year high

According to latest figures from LMS, the value of remortgage lending has reached its highest level since November 2008. This was reported on the Your Mortgage website in May*. The figures show that monthly remortgage lending rose to £6.4 billion in April, which is an increase of 48% from the previous month. (more…)

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