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Banks and building societies have cut a staggering 47 per cent of all mortgage deals from sale over the past three weeks in a move not seen since the credit crunch, as fears over the health of the housing market loom. This month the Government urged buyers and sellers not to move home as the pandemic continues to … Read more
Stamp duty holiday should be on the cards to get the property market moving after coronavirus, says Rics Short-term stamp duty holiday could get the market moving again, experts say Estate agents now typically only have around 40 homes on their books Completions, sales, viewings and mortgage deals at a standstill amid pandemic By Jane … Read more
Banks pull half of their mortgages in just over three weeks in biggest cull since the last financial crisis By Miles Dilworth For The Daily Mail Published: 22:01 BST, 7 April 2020 | Updated: 23:06 BST, 7 April 2020 Banks have cut half of their mortgage products in just over three weeks in the biggest … Read more
Property prices were stable in March, but with market activity falling drastically thanks to the coronavirus outbreak, it remains to be seen if they hold up. February 2020 saw a record high for house prices at an average of £240,461 according to lender Halifax. Meanwhile, the typical value was £240,384 in March, according to its … Read more
I’m in the middle of a mortgage application but I’ve just found out that my employer is putting me on furlough. I’ll still get 80 per cent of my salary from the government but I’m not sure what this means for my application. Will this affect the lender’s decision? Will they still accept 100 per … Read more
The public lockdown amid the coronavirus pandemic has restricted our lives in ways previously unimaginable. Stockmarkets have plunged, companies in every sector could need billions in government bailouts to survive and high streets are deserted. The Bank of England has been forced to slash interest rates to near zero in a bid to shore up … Read more
Homeowners who bought with a small deposit and are now nearing the end of their fixed or tracker rate deal could find themselves forced onto a higher interest rate, pushing monthly payments up significantly. Most lenders say they will honour the Government promise to offer homeowners struggling financially due to coronavirus a mortgage payment holiday … Read more
Britain’s property market and economy could enjoy a ‘strong rebound’ once the coronavirus crisis ceases, Nationwide suggested. The latest Nationwide house price index painted a picture of a property market before coronavirus hit, with the average cost of a home up 3 per cent annually as home values rose at the fastest pace since January 2018. … Read more
If you’re trying to move house and are unsure how the Government’s announcement will affect you, removal quote provider Reallymoving has put together the following advice: Securing a mortgage · Be prepared to provide evidence of job security, something banks will be checking even more closely than usual. · With surveyors currently unable to carry … Read more
Banks and building societies pull a THIRD of all mortgage deals in just three weeks as worry over coronavirus grips the market There are 30 per cent fewer mortgages on offer then just three weeks ago Nationwide, Halifax and Barclays have all pulled higher loan-to-value deals Experts worry a lack of competition may mean mortgage … Read more