Call Us Now
30
DEC
2015

House price growth picks up as 2015 draws to a close

UK house prices increased by 0.8% in December, pushing the annual pace of house price growth to 4.5%, from 3.7% in November, according to the latest Nationwide house price index. Commenting on the figures, Robert Gardner, Nationwide’s Chief Economist, said: “UK house prices...
17
DEC
2015

Bank of England to get new powers on buy-to-let lending

The government is to consult on new powers to allow the Bank of England to rein in the buy-to-let mortgage market. In April this year, the Bank was given extra tools to control the residential mortgage market. Those powers could now be extended to limit borrowing by landlords who...
16
DEC
2015

Average outstanding UK mortgage debt rises to £85,000

The latest Bank of England quarterly bulletin indicates that the average household mortgage debt is £85,000. In aggregate, household debt remains high relative to income, but the cost of servicing that debt is historically low, due to low interest rates. The proportion of...
15
DEC
2015

Rents exceed mortgage repayments in all UK regions

Potential first-time buyers would have lower monthly outgoings if they bought a property than they do renting, according to new research from Santander Mortgages. In every region of the UK, average monthly rental prices now surpass those for the average mortgage repayment....
14
DEC
2015

Thousands of London flats to come back on to the market, estate agent says

Thousands of unbuilt flats and apartments could come back on to the London property market over the next two years as foreign investors seek to cut their losses, according to a new study. In their latest report on the residential market, researchers at estate agent Cluttons said...
13
DEC
2015

“One in seven homeowners is becoming a mortgage prisoner”

Homeowners are facing being left on expensive standard variable rates due to tougher mortgage application rules. Data from Nottingham Building Society shows up to one in seven homeowners have had difficulty getting a new deal since the Mortgage Market Review was introduced in...
12
DEC
2015

Is the buy-to-let bubble is set to burst?

Former Bank of England economist Rob Thomas, director of research at property consultancy group Instinctif, predicts that some landlords – especially those with big mortgage borrowings – could face ‘ruin’ as a result of the draconian taxation changes made to...
11
DEC
2015

Q3 BTL Barometer shows landlords’ confidence softening

Landlords’ confidence has softened as a result of the summer budget. It will be interesting to see how the recent tax changes impact on this.
09
DEC
2015

Help to Buy completions hit 130,000

Help to Buy has helped over 130,000 people achieve their aspiration of buying their own home since it was launched, latest figures reveal. Since the launch of the Help to Buy: Equity Loan and Mortgage Guarantee schemes: 80% of scheme completions have been made by first-time...
07
DEC
2015

Majority of home buyers benefit from stamp duty changes

The average home buyer is £4,500 better-off under the new progressive structure of stamp duty introduced on 4 December 2014, according to Halifax. Since the changes came into force a year ago the typical home buyer has paid a total of £3,676 in stamp duty (based on the current...
03
DEC
2015

Chancellor’s buy to let taxes to trigger lending surge as landlords rush to incorporate

Radical changes to the tax treatment of landlords have already triggered a surge in landlords borrowing through companies, and further changes will follow the Autumn Statement, according to the third edition of Kent Reliance’s Buy To Let Britain report. The changes...
02
DEC
2015

Homebuyers spend £10,000 doing up their homes in the first year

Homebuyers spend an average of £10,010 on their homes in the first 12 months of ownership, according to new research from Aviva. With around 679,000* owner-occupier moves happening every year, this puts the first-year home makeover tally at around £6.8 billion across the whole of...
01
DEC
2015

Help to Buy ISA: a round-up of rates

From today, first-time buyers can take advantage of the government’s Help to Buy ISA scheme. Savers can deposit up to £1,200 within the first calendar month of funding the account, and then up to £200 monthly thereafter. Once the account has a balance of £1,600 it qualifies...
25
NOV
2015

Stamp duty to increase by 3% for BTL and second homes

George Osborne has announced a 3% increase in stamp duty for buy-to-let properties and second homes from April next year. Speaking during today’s Autumn Statement, he said that corporate property development would not be affected, and that the billion pounds raised by the...
24
NOV
2015

The hidden cost of record-low mortgage rates

This article – The hidden cost of record-low mortgage rates  – is very true and at MortgageAbility we always contact our client near the end of a scheme term to advise about the options available. However, some lenders will always want to establish that their...
23
NOV
2015

Mortgage tariffs to be simplified by lenders

The Council of Mortgage Lenders and Which? are today launching a new “tariff of mortgage charges” that will introduce a standard format for how lenders communicate their fees, to make it easier for customers to understand charges and compare deals. Following a Which?...
20
NOV
2015

Some misunderstanding about Help to Buy ISAs may hinder take-up

Almost half of first time buyers (45%) claim they will not open a Help to Buy ISA, despite a potential bonus of up to £6,000 per couple. The research by money.co.uk shows that one of the biggest barriers to entry is that savers cannot pay into a Help to Buy ISA and a standard...
19
NOV
2015

Monthly mortgage lending at post-crisis high

The Council of Mortgage Lenders estimates that gross mortgage lending reached £21.8 billion in October – 8% higher than September’s lending total of £20.1 billion. In addition to the month-on-month rise, lending rose 19% year-on-year, from £18.4 billion in October 2014. This is...
13
NOV
2015

Building society sector commits to review maximum age policies on mortgages

About time too! This action is one of nine recommendations contained in an interim report entitled Lending into Retirement, launched by the BSA. The UK already has 11.6 million people over the age of 65.  By 2034 it is estimated that around a quarter of the population will be 65...
12
NOV
2015

10 Everyday Things That Cost More Than Term Life Insurance

Although this article relates to the USA, the same applies in the UK and probably across Europe too. The point is that many people give priority to all sorts of things over and above the wellbeing of their families. Financial protection in case of unfortunate unforeseen events...
  • YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
    Whilst MortgageAbility does not charge for mortgage advice, please note that there will be an administration fee for arranging mortgages. The precise amount will depend upon your circumstances but we estimate it will be £395, payable on completion. MortgageAbility gives you the option to pay a non-refundable fee of 1% of the mortgage loan payable with the application. If this option is taken, MortgageAbility will refund any commission received from the lender.