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When the chancellor announced the mortgage guarantee scheme in his March budget, we said we'd wait to see the details. Now we've got them, and it's not all roses. As well as throwing petrol on the property price fire, they're a really bad deal.
8/3/2021
UK property - Budget updateEstate agents, surveyors, mortgage lenders, conveyancers and 200,000 buyers will be offering the Chancellor a collective thank you. The pressure to complete an absurd number of house sales by 31st March is now off. There was also some good news for first time buyers, at least in the short term. A quick glance at the budget from a property perspective and a brief look forward.
15/2/2021
No mortgage please, we're British!In one of the many quirks thrown up by Brexit, British nationals living in the EU may find they have issues landing a UK mortgage.
In its September report the Bank of England confirmed that it was exploring ways to overcome obstacles to negative interest rates. Opposite to all that we have been brought up with, it feels counter-intuitive, perverse even, but it could very well become a reality.
20/7/2020
First time buyers face yet more hurdlesLast month we commented on the withdrawal of low deposit mortgages for first time buyers. A rumoured extension to Help to Buy did cause some optimism, but things just got worse for those struggling to get on the ladder.
Yesterday's cut in Stamp Duty is a welcome shot in the arm for the UK's housing market. Here's how it will affect buy to let investors - in numbers.
An update to our earlier blog where we said that Ipswich Building Society had withdrawn one of it's key buy to let products as it was unable to process the number of applications. Now it has pulled them all. Buy to let investors are alive and well.
Having devastated their balance sheets through over-optimism back in the noughties, the banks have swung to the polar opposite this time around, factoring a worst case scenario into their lending policies.
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28/4/2021