A third of first-time buyers accepted for mortgage on first try
Written by: Anna Sagar 13/12/2021 Just over a third (35%) of first-time buyers are accepted for a mortgage on their first try, down from about half (48%) in March last year before the pandemic. According to Aldermore’s first-time buyer index, a survey of 2,015 prospective first-time buyers, about 45% of prospective first-time buyers were rejected [...]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 [...]Stamp duty holiday: Success or failure?
Home buyers have benefited from lower or no stamp duty, a tax paid on property purchases, in some parts of the UK, for more than a year. The tax holidays on stamp duty or its equivalent taxes, were introduced by ministers to stimulate the housing market as the country emerged from the first national Covid [...]The Pros and Cons of Mortgage Holidays
The government mortgage holiday scheme is coming to an end, but your mortgage lender might still offer you a payment break if you need it The end of July sees the final closure of the government’s mortgage holiday scheme, which was introduced last March as the first national lock down and furlough started to take [...]What You Need to Know About Stamp Duty in 2021
Stamp duty is a tax that is much-hated by many a homebuyer. Just as you’re handing over thousands of pounds in deposits, mortgage charges and solicitor fees, you’re hit with a levy on the price of the property you’re buying. And in recent years, Stamp Duty has got even more confusing, with a number of […]