Property market overview
Over the last ten years, the average UK house price has risen 10% from August 2007, to £219,266 in July 2017. The average deposit has increased too, from £68,663 in 2012 to £96,109 in 2017. However, after several years of continued growth, the UK property market is now showing signs of slowing down. The housing […]
What does it cost to move?
Moving can be an exciting but expensive time. Drawing up a budget will help you work out how much cash you will need for the fees you can expect to pay. The exact figure will depend on which rung of the housing ladder you’re on, whether you’re buying and selling, and which part of the […]
Long or short-term income protection – which is right for you?
Experts have long expressed their concerns for those who don’t have protection policies, fearing that millions of households could face real financial hardship if the main breadwinner was unable to work due to a serious illness, accident or unemployment. For those new to insurance, short-term policies can be a cost-effective way to get some cover […]
Mortgages – bank of england tightens the rules
In a move that demonstrates the Bank of England’s determination to prevent lenders getting too complacent about current low interest rates, strict new rules on mortgage affordability have been announced. New tests to be applied The rules, often referred to as “stress tests”, were set out in the Bank’s Financial Stability Report. Lenders will be […]
Setting up companies leaves landlords out of pocket
In 2015, then Chancellor George Osborne announced measures that he hoped would ‘level the playing field’ for first-time buyers by reducing the many tax concessions available to buy-to-let landlords, deterring more from entering that market and encouraging some to sell their rental properties. Landlords accustomed to claiming relief worth 40% or 45% will find their […]
Is being loyal to your mortgage lender costing you money?
With interest rates at their lowest levels for some years, borrowers are often content to stick with their existing mortgage deal. However, new research from Citizens Advice reveals that being a long-standing loyal customer of your mortgage provider might be costing you money. What’s more, they calculated that 1.2m mortgage holders could be better off […]
Pensioners: The new generation rent?
We generally associate renting with the carefree 20 to 30-something age group who may be choosing to rent whilst saving up for a deposit on their first home, or simply prefer the freedom to move around that renting offers them. However, that view may now be rather outdated. One in every 12 private rental sector […]
Simply Home Finance Summer 2017
HOW THE HOUSING MARKET MUST CHANGE TO MEET NEW NEEDS The arrival of the summer months is usually a busy time for estate agents. However, it seems that the market is being held back by a lack of supply. In their April survey, the Royal Institution of Chartered Surveyors reports that there is a marked […]
Does your mortgage need a makeover?
With interest rates remaining low, and many lenders offering competitive deals, this could be a good time to review your existing mortgage arrangements. The monthly mortgage repayment is often a family’s major outgoing, so it’s a good idea to review your mortgage from time to time to see if there’s a better deal currently available […]
Trends in living
Owning your own home is a desirable goal for many people. However, over the last few years, property prices have kept on rising most of the time, putting the home-owning dream beyond the reach of many. Home ownership has fallen in percentage terms and a higher proportion of home owners than ever before are aged […]