Your Money

Your Money

First time buyers jump by 22% to 265,000 in 2013 but numbers still well below pre-crash average

6 January 2014

Property

The number of first time buyers grew by 22% last year, the largest annual rise since 2001 according to the annual Halifax First Time Buyer Review. This is the second consecutive annual increase following a 13% rise in 2012. There were an estimated 265,000 FTBs in 2013, up from 218,000 in 2012. While this was the […]

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One year on from the commission ban costs of financial advice have fallen says Hargreaves Lansdown

2 January 2014

Personal Finance

The overall cost of accessing financial advice has fallen because of the ban on commission which reached its one year anniversary on January 1st. Investment platform and financial advice firm Hargreaves Lansdown has given its assessment of the winners and losers from the Retail Distribution Review, the big shake up in regulations which saw commission banned. […]

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Council of Mortgage Lenders plays down expected impact of Help to Buy on borrowers, lenders and the housing market

10 December 2013

Your Money

The Council of Mortgage Lenders has played down the impact of Help to Buy on the mortgage market and says predictions of it leading to hundreds of thousands of transactions may be unfounded. In its market forecast, the CML says that the design of the scheme means it is not a “must have” product for either […]

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Optimism that borrowers can cope with return to normal interest rates

10 December 2013

Your Money

The Council of Mortgage Lenders is predicting gross mortgage lending will reach £195bn from an estimated £170bn this year. In 2015 it expects gross lending to reach £206bn. Net advances are likely to be £10bn this year, £15bn next year and £20bn in 2015. It also believes that the number of mortgages 2.5% or more […]

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House prices rise 7.7% in twelve months says Halifax

6 December 2013

Your Money

House prices have risen 7.7% in the last twelve months, and rose 1.1% in November says Halifax. The average house price in the UK is now valued at £174,910. Prices rose 2.1% in the three months to the end of November. However Halifax said that the squeeze on incomes could restrain house prices in future. […]

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Buy-to-let to lending to reach £25 billion next year as three in five landlords plan to buy more properties

29 November 2013

Your Money

Buy to let lending will reach £25 billion by the end of 2014, a 25% increase on lending in 2013 according to forecasts by Mortgages for Business, the specialist mortgage broker. Lending to buy to let investors is now 135% higher than the trough in 2009 (£8.5 billion) but remains someway below the 2007 peak […]

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Bank of England to cease Funding for Lending for the mortgage market

28 November 2013

Your Money

The Bank of England is to withdraw its scheme to provide cheap funding to banks which then boosts the retail mortgage market. It will continue Funding for Lending where the money is directed at supporting lending for business but is aiming for a more focused approach. The scheme will come to an end in January […]

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Nearly one in five overpaying their mortgage each month

20 November 2013

News Your Money

Almost one in five mortgage holders currently overpay every month though just 54 per cent of regular over-payers have just started doing so in the past two years according to Santander. Mortgage holders are collectively making more than £9 billion in mortgage overpayments per year, according to research from Santander Mortgages. The findings reveal that 19 […]

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No housing bubble. Prices have “crawled up” 11% in last five years argues property consultant

19 November 2013

Your Money

The London Central Portfolio is arguing that Land Registry figures demonstrate that there is no property bubble in the United Kingdom. New third quarter statistics from Land Registry show what it calls a modest 3.6% rise in average prices in England and Wales over the year. Excluding Prime Central London it says annual growth reduces […]

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Bank of Mum and Dad helping 63% of first time buyers with a deposit

18 November 2013

Property

New research from Clydesdale and Yorkshire Banks shows that the Bank of Mum and Dad still has an important role to play for first time buyers, with almost two thirds receiving help in saving a deposit for their first property. The Annual First Time Buyers Research from the banks highlighted that 63% benefit from financial […]

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