How consumer price inflation could hit house prices – The Week UK

There are conflicting reports on the effects of the recent Brexit vote on UK house prices. Properties in London have experienced drops as high as £2000 per day, however prices outside London has picked up. A fall in the pound and increasing inflation has increased the cost of the underlying capital used by banks for […]

UK Government needs to think about older buyers not just those starting on housing ladder – Property Wire

The Government should focus less on first time buyers and more on later life housing, according to delegates at a housing conference in London. It is estimated that there will be 20 million people aged over 60 in the UK by 2020. Housing law partner Charlotte Cook said that greater choice and more meaningful information […]

This is why Britain’s banks will suffer greatly if Brexit kills the housing market – Business Insider

The recent vote for Brexit may damage the UK housing market and in turn banks. According to economists from HSBC the proportion of mortgage based accounts held by UK banks is over 60% making them vulnerable to interest rate rises and job losses involving mortgage payers. Falling GDP, as a result of the Brexit vote, […]

Chinese buyers snap up 230 of Park One’s Macquarie Park apartments in hours – Daily Mail

A property developer in Sydney has sold more than 50% of it’s apartments in just a few hours. 230 apartments were secured, 20% by overseas buyers. However, economist Chris Richardson has commented that this may not be a good investment and expects a shakeout in the property market, due to the possibilty of rising interest […]

First Direct offers £50k unsecured loans sparking fears of new debt binge – Daily Mail

As charity StepChange sees a record number of people needing help with debt problems First Direct have raised the maximum amount that can be borrowed, as a non-secured loan, from £30,000 to £50,000 with competitors expected to follow suit. Experts fear that households may borrowing too much in a period of uncertainty. StepChange have reported […]

One in six mortgage applicants refused for ‘spending too much on childcare’ – Telegraph.co.uk

Childcare costs have caused one in six families to be turned down for a mortgage, and two-thirds have tried to hide these costs when applying, according to uSwitch.com. These costs are viewed as non-discretionary and impact a mortgage applicant through formulaic affordability tests. Families criticised lenders for not accounting for childcare costs decreasing over time […]

Lloyds, Halifax and TSB latest to slash interest rates – The Week UK

Interest rates for savers have been cut sharply by Lloyds, Halifax and TSB, following earlier cuts by other banks. A typical reduction is TSB’s top paying Classic Plus account moving from five per cent to three per cent interest. Changes have been blamed on market conditions, including the drop in Bank of England base rate […]

Foxtons’ property sales tumble by a third as London house buying cools – Telegraph.co.uk

UK estate agency, Foxton’s, has announced a profit warning as it’s property sales have dropped by a third in three months. The company’s share price is currently 42% below the level before the UK Brexit referendum. However, analysts believe the situation may improve if stamp duty rate are reduced in the Autumn statement. Foxtons’ property […]

Buy to let mortgage applications via UK limited companies rise steeply – Property Wire

UK landlords are now mostly applying for buy to let mortgages through limited companies. Their use for new property purchases has tripled since changes to tax relief on mortgage interest were announced in July 2015. Average buy to let mortgage rates fell to 3.3% in September from 3.7% in June. While rates available to limited […]

7 Steps to Take the Day You Buy Your First Home – Huffington Post

Things to do when you have bought a new house include moving address and medical records, choosing the best value insurance for your new area, and making a calendar to help you plan home maintenance. You should also survey the area to get an idea of what is where, change the property’s locks to be […]