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First-time buyers still facing significant deposit barrier

It's getting tougher for aspiring homebuyers as house prices rise faster than wages Raising a deposit is still proving a huge barrier to aspiring homeowners, said Nationwide. It found that high house prices relative to average earnings mean first-time buyers struggle to raise a decent-sized deposit for a home. In the third quarter of this [...]

More than 17 million have used buy now, pay later services

More than 17 million UK customers have now used a buy now pay later (BNPL) company to make an online purchase, company data shows. The payment method is also set to have its biggest Christmas yet, experts say. BNPL firms allow people to manage their shopping, either by postponing their bill for a short while, [...]

Help to Build scheme open to applications this winter

Written by: Samantha Partington 26/11/2021 Self-builders will be able to get a 20% interest-free equity loan alongside their deposit and mortgage Help to Build, the government’s latest equity loan scheme, has launched offering self and custom builders the opportunity to start their homebuilding project with a minimum of five per cent deposit. To apply, borrowers [...]

Ceta urges brokers to check home working clients’ insurance

Property insurance platform Ceta Insurance has urged brokers to check in with their clients to make sure their insurance policies cover them if they are working from home. Ceta pointed Office of National Statistics (ONS) data that showed, the number of people working from home increased from 27% in 2019 to 37% in 2021. Additionally, [...]

Majority of self-employed say it is harder to get a mortgage

Almost two-thirds of self-employed individuals believe it is more difficult for them to secure a mortgage, according to Foundation Home Loans. The research, carried out by BVA BDRC on behalf of Foundation, also showed that three out of five self-employed people believed some lenders do not want to deal with them. Of those interviewed, 100 [...]

Remortgage completions up 108%

The volume of remortgage completions rose by 108% in September, according to the LMS Monthly Remortgage Snapshot. Instruction volumes also increased, rising by 50% over the same timeframe. The overall cancellation rate rose by 0.43% to 5% and pipeline cases increased by 7% in last month.  Purchase search volumes hit lowest level since May 2020 [...]

Average house price tops £250k as interest rate rises loom

The average price of purchasing a home rose by 0.7% in October taking the average price of a property past the £250,000 mark for the first time ever, according to the latest house price figures from Nationwide. The average price of a property stood at £250,311 in October with prices up by 9.9% when compared [...]

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