Potential first-time buyers must typically save for eight years to afford a deposit to buy a home, data suggests. A typical 20% deposit in London is now more than £80,000, according to the Nationwide Building Society. Elsewhere in the UK, the average deposit could be closer to £20,000, the lender said. The squeeze on wages […]
Mynest
House price growth slowed in 2017, says Nationwide…
House price growth saw a modest slowdown in 2017, with London the weakest performing region, the Nationwide building society has said. According to its latest House Price Index, average prices have grown by 2.6% over the past 12 months, down from the 4.5% recorded in 2016 and 2015. In London, average house prices actually fell, […]
Mortgage approvals ‘lowest for over a year’…
The number of households taking out new mortgages in November was the lowest in more than a year, according to official figures. UK Finanace said High Street banks approved 39,507 mortgages during the month, the lowest since August 2016. The figure represents a 5% fall on the same month a year ago. November was the […]
Moving home can be stressful for the dog too…
Gwen Bailey with her seven-month-old Vizsla, Otto Move into your dream home and the dog immediately chews the new sofa. The result: more stress which, according to an expert, was probably the cause of the furniture destruction in the first place. “Dogs will pick up on your stress when moving house,” says Gwen Bailey, founder […]
Leaseholds banned on new-build houses in England…
Katie Kendrick was among those whose freehold was sold on without her knowledge. People buying new-build houses in England will no longer be obliged to enter leasehold agreements, the government has announced. Anyone buying a flat – or a house – on a lease of longer than 21 years will also not have to pay […]
Estate agents stretching the facts, say regulators…
Estate agents are being warned to tell the truth on property adverts, after regulators said some of them were “stretching the facts”. The Committee of Advertising Practice (CAP), which writes the rules, said it would take enforcement action if things did not improve in 2018. It said any estate agent that did not comply with […]
How much space will £100 rent get you?
Renters in Bradford get more floor space for their money than in many other major cities Spending £100 a month on rent in London secures floor space equivalent to a small garden shed, compared with nearly five times that in parts of northern England, new research shows. Data released to BBC News shows cheaper properties […]
Mortgage safety net ‘disappearing’…
Ministers should consider strengthening the safety net for homeowners struggling to pay their mortgage, a report suggests. Help for this group introduced in response to the financial crisis will be largely withdrawn by 2022. Academics, commissioned by lenders’ trade body UK Finance, said the government should review its position. However, mortgage applicants must now prove […]
UK house price growth slowing, says Halifax…
The growth in UK house prices is continuing to slow, according to the country’s largest lender, the Halifax. It said average prices rose by 3.9% in the year to the end of November, down from 4.5% in October. And it warned that growth is likely to ease further in the longer term, as wages fail […]
Renting in retirement: How feasible is it?
Home ownership can be a thing of beauty. Just as you don a pair of fur-lined slippers and spend more time on the golf course, you find you have paid off your mortgage. For the rest of your life, accommodation is effectively free. But this utopian model is becoming the exception. High house prices mean […]