• Mortgages & home

    'Buyers will struggle to pay much more': House price rises will be limited as costs bite, warns Rightmove

    House price rises over the next few years will be muted as buyers will struggle to pay much more , property website Rightmove warned today.Asking prices of newly-listed homes for sale flat-lined in the month to mid-July, the property website said, but home buyers are cautious on political uncertainty and wage growth falling behind inflation.With the property market cooling, it forecast that house prices are no longer likely to rise above inflation. High demand will continue to underpin prices, but we are seeing stretched affordability limiting the pace of rises, especially in the south of the country , Rightmove s ...

    9029
  • Mortgages & home

    'The second mortgage allows us to stay in control': Soaring house prices are driving take-up of second charge mortgages, so can TWO home loans work out better than one?

    Tougher lending rules are forcing more homeowners to turn to second charge loans to fund home improvements, such as extensions, and consolidate debt.Industry figures show a 25 per cent rise in the sums borrowed this way in the three months to the end of May against the same period last year.The rise in second charge borrowing so called because the lender is second in line for repayment behind the mortgage provider if a borrower s home is repossessed has been fuelled by rising house prices and the squeeze on household budgets. But experts are warning homeowners to look at alternatives ...

    9029
  • Mortgages & home

    Skipton BS joins the 0.99% mortgage ranks - but with a 2k fee how does the deal compare to other rock bottom rates?

    Skipton Building Society has become the latest lender to offer a 0.99 per cent mortgage, joining both Yorkshire Building Society and HSBC.Skipton's new deal is a two-year fixed rate of 0.99 per cent with a 1,995 fee available on purchases and remortgages for those with a deposit or equity of 40 per cent or more.The building society has also cut rates on other deals and now has two best buy loans on offer: a two-year fix at 1.53 per cent to 70 per cent loan-to-value and a two-year fix at 1.70 per cent to 85 per cent LTV. [media_photo id="863726" ...

    9029
  • Mortgages & home

    Estate agents blame UK political uncertainty not Brexit as property drought stifles housing market

    House price growth slipped back further in June as heightened political uncertainty at home weighed on sellers and buyers more than the prospect of Brexit, research claimed today.The latest report by the Royal Institution of Chartered Surveyors, based on sentiment rather than hard data, points to a further slowdown in property price inflation, although it stresses the situation varies greatly across the country.House prices are still rising, but just seven per cent more member estate agents across the UK saw a rise rather than a fall in prices, down from 17 per cent in May and the lowest reading since ...

    9029
  • Mortgages & home

    Clear your mortgage early with new deals: Pay an extra 10% off the balance each year without extra charges

    Banks are offering fixed-rate mortgages that allow borrowers to repay loans earlyBanks are offering fixed-rate mortgages that allow borrowers to repay loans early without being hit with steep penalties.Most will let you clear an extra 10 per cent off the balance each year without extra charges.If you want to pay more, or settle your mortgage before the deal ends, you may have to pay 6 per cent of the total loan.This can be as much as 9,000 on a typical 150,000 mortgage. But now ...

    9029
  • Mortgages & home

    Homes on the brink: In the wake of dire warning on house market, fresh data shows prices slipping

    Fresh signs of a slowdown in the housing market are expected this week when one of the most highly regarded barometers of the sector is released.The UK Residential Market Survey from the Royal Institution of Chartered Surveyors is seen as one of the best lead indicators of house price movement. It is expected to show a dip in the balance of members reporting house price rises.The figures will come after a new dip in prices was recorded by Halifax and following last week's warning from a leading housing economist, reported exclusively in The Mail on Sunday, that Britain was 'due ...

    9029
  • Mortgages & home

    Rental costs keep rising despite more homes available on the market

    The cost of renting in the UK keeps going up despite more homes becoming available on the market, a new report suggests.Asking rents outside London rose 2.8 per cent between April and June to an average of 790 per month, even though the number of available homes was 7 per cent higher than the same period last year.Rents fell slightly only in Greater London and the North East, by 0.2 and 0.3 per cent respectively on the previous quarter, the latest rental tracker by Rightmove shows. [media_photo id="844299" height="423" width="634" alt=" Homes to rent: Tenants have more choice but no ...

    9029
  • Mortgages & home

    House prices rise at slowest annual rate in four years Halifax data shows - but are still up 41% since 2009

    House prices rose at their slowest annual pace in four years last month as demand weakened amid a squeeze on household finances and higher stamp duty.The average property value was up 2.6 per cent to 218,390, down from a 3.3 per cent increase in May - the smallest rise since May 2013, Halifax data shows.This is 63,727 or 41 per cent higher than a low point seen in April 2009.But prices fell on a monthly and quarterly basis, which contrasts with separate figures released last week by Nationwide. [media_photo id="844049" height="420" width="634" alt="Slowdown: Halifax figures added to concerns that the ...

    9029
  • Mortgages & home

    My lender wants me to repay my mortgage by the time I'm 75, but I can't. Will anyone lend to me for longer?

    I m 65 and have 300,000 left to repay on my mortgage against my home, which is worth 1.5million approximately. I am about to come to the end of a five-year fixed rate and want to lock in to another five-year fix but I m really struggling to get my lender to agree to give me a good deal.They want me to shorten my term which will make my monthly payments go up considerably and I m about to go part-time at work.Are there alternative options? [media_photo id="840715" height="421" width="634" alt="Many lenders have imposed a maximum age limit on mortgage ...

    9029
  • Mortgages & home

    Don't get stung by bumper fees on the lowest mortgage rates, warn experts as lenders ramp up product charges

    Mortgage rates might be at their lowest ever level - with a two-year fixed rate now under 1 per cent - but cheap deals come with a sting in the tail in the form of bumper fees.As mortgage rates have fallen, fees have risen - and the lowest rates often come with the most expensive fees.Indeed, research from personal finance site Moneyfacts has found that the current average fixed rate mortgage fee now stands at 1,018 - up from 986 recorded last July and outstripping its previous high point of 1,005 in August 2013.While opting not to pay fees up ...

    9029
  • Mortgages & home

    A sign of London's depressed property market? Nearly six in 10 homes withdrawn from sale rather than sold

    Nearly six in ten homes listed for sale in the capital this year that were withdrawn from the market went unsold, according to new data.Property research firm LonRes analysed trends for This is Money and found that between January and June 2017, of all properties removed from the market, 43 per cent were withdrawn thanks to a sale while 57 per cent were simply removed rather than sold.In fact, properties pulled from the market have exceeded sales since last summer according to the firm, the first time this has happened since 2010. [media_photo id="836841" height="423" width="634" alt="Hard sell: Data for ...

    9029
  • Mortgages & home

    Would you gamble on the 0.99% mortgage? HSBC launches lowest ever two-year tracker... but it will rise if interest rates do

    HSBC launched the UK's lowest ever new tracker rate mortgage at just 0.99 per cent, as it fired the latest salvo in the battle to tempt homeowners.The tracker is set at the Bank of England base rate plus 0.74 per cent for two years, but borrowers must remember that if interest rates rise then so will their monthly payments.The HSBC mortgage comes with a 999 fee and goes head-to-head with the other 0.99 per cent mortgage on the market, from Yorkshire Building Society, except that is a two-year fix with a 1,495 fee. [media_photo id="834193" height="423" width="634" alt="HSBC pulled its ...

    9029
  • Mortgages & home

    Want to buy your dream home for less? Here's how to negotiate, what to offer - and when you should consider paying over the asking price

    After years of rising house prices, nearly all of the major indices are beginning to point to slowing house price inflation and in some cases, even a dip in prices. Anecdotal evidence from agents suggests that some buyers are already feeling a lot more confident at putting in a cheeky offer well below the asking price, but many sellers feel they've already priced low to secure a sale and don't want to drop any further. What is the tipping point ...

    9029
  • Mortgages & home

    Equity release plans and how they work: It's a chance to free up cash but there are costs to consider first

    Big squeeze: Homeowners released 633 million from property in the first three months of the yearGrowing numbers of older homeowners are turning to equity release plans to supplement pension income or plug an endowment shortfall when their mortgage ends.The market is expanding rapidly. Homeowners released 633 million from property in the first three months of the year, compared with 414 million in the same period last year, according to industry specialist Key Retirement.But anyone considering this route must understand the ...

    9029
  • Mortgages & home

    Milton Keynes crowned Britain's housebuilding capital as new homes make up more than a third of sales in the town

    Milton Keynes is Britain s town with the highest concentration of newly built homes as the bulk of developers investments are concentrated in the South East, new analysis shows.New homes in the Buckinghamshire town account for over a third of all property sales in the postcode area at 33.2 per cent, according to analysis of Hometrack figures by property website Zoopla.London as a city was excluded from the study, which used postcode areas of Britain, but as a whole it would have come second, with new builds accounting for 31 per cent of sales in the capital. [media_photo id="824457" height="399" ...

    9029