Mynest

House price falls of 14 per cent forecast for 2021…

House prices are forecast to fall by 14 per cent next year according to the Centre for Economics and Business Research (CEBR): The fall is expected to come after the stamp duty holiday ends and the full impact of the winding down of the job retention scheme is felt by the economy. House prices are […]

Government pledges to increase number of affordable homes…

The government has announced new measures to help more people get onto the property ladder, as part of a £12.2bn investment in increasing affordable housing. A new shared ownership model would see the minimum initial share to buy in a property reduced from 25% to 10%. People would also be able to buy additional shares […]

Court threat to housebuilders over leasehold ‘trap’…

Four of the UK’s largest housebuilders are being investigated after “troubling evidence” was uncovered over the way leaseholds were sold. Barratt Developments, Countryside Properties, Persimmon Homes and Taylor Wimpey face action from the Competition and Markets Authority (CMA). Buyers have argued that they were caught in a leasehold trap, with rising ground rents and unfair […]

When does the stamp duty holiday end???

The chancellor’s policy of suspending of stamp duty on the first £500,000 of all property sales in England and Northern Ireland has helped boost house prices. August saw the highest monthly price rise in more than 16 years, says the Nationwide. It describes the housing market recovery as “unexpectedly rapid.” So what has Chancellor Rishi […]

Coronavirus: Pent-up demand ‘leading to quicker home sales’…

Pent-up demand has led to properties taking less time to sell since the height of lockdown, according to research. In the 90 days to mid-August, a three-bedroom home has typically sold in 24 days, property portal Zoopla said. This is 12 days quicker than the same period a year ago. All types of property have […]

Lenders withdraw almost 2,700 mortgage deals since March…

Lenders have withdrawn almost 2,700 mortgage deals since the beginning of March, reducing borrower choice by close to 50 per cent, analysis revealed. At 1 August, there were 2,526 mortgage products on the market, a drop of 2,696 since 1 March and a 202 product decline month-on-month. And as banks’ mortgage ranges shrink, interest rates […]

House prices bounced back in July, says Nationwide…

House prices bounced back in July, climbing 1.7% during the month compared to a 1.5% fall in June, according to the Nationwide. “The bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions,” it said. Activity has been boosted by pent-up demand and the stamp duty […]

Help to Buy deadlines extended…

The government has extended two key Help to Buy deadlines by two months, but the present scheme is still set to formally end on 31 March as scheduled….   The deadline for homes to be finished to comply with the Help to Buy scheme in England has been extended until 28 February 2021, although the […]

HSBC no longer accepting furlough workers without return date…

HSBC is no longer accepting furlough workers who have no return to work date or where the return is more than three months away… The lender is the latest to toughen criteria related to employees who have been put on paid leave from their job. However, HSBC is still accepting applications from workers on furlough […]

UK property sales in coronavirus summer slump…

Summer property sales in the UK were nearly a third lower than last year despite a pick up since the housing market reopened. A total of 68,670 residential properties were sold in June, data from HM Revenue and Customs (HMRC) shows. This was down 31.5% on the same month a year ago, but up 50% […]