Holly Black

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Industry backs May’s council housing pledge

The industry has welcomed Theresa May’s pledge to make an extra £2bn available for council housing across the UK. But experts say there is more work to be done to solve the UK’s housing crisis. The Government has also called for family-friendly, longer tenancies in the private rented sector to provide more security for tenants. […]

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Lenders raise rates ahead of BoE hike

At least a dozen mortgage providers have hiked rates, as the Bank of England looks set to raise interest rates. Data from Moneyfacts shows many of the main lenders have started to edge rates up. Family Building Society has scrapped its 1.99 per cent deal and replaced it with a rate of 2.19 per cent.  […]

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L&G launches online live chat service

Legal & General Mortgage Club has launched an online live chat service for advisers. Advisers will able to contact the support services team directly using an online chat forum. Legal & General says the facility aims to provide improve speed and accuracy to help advisers. They will be able to access instant information and help […]

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Bring in seven-day switching, say homeowners

Homeowners says switching mortgage provider is difficult and expensive, and want seven-day switching introduced. Research by EDM Mortgage Support Services reveals 80 per cent of UK consumers want to be able to switch mortgage provider within seven days. It comes after Government proposals to improve mortgage switching times, which can currently take up to eight […]

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London property bubble may burst as prices fall

Experts are warning the London property bubble may be on the verge of bursting as house prices in the capital dropped 8.4 per cent in the last quarter. The average inner London house price fell to £761,000 over the past three months. Meanwhile, average house prices across the UK as a whole eased of 1.9 […]

Mortgage approvals up 7.8% in August

Some 66,145 mortgage approvals were recorded in August, up 7.8 per cent from a year ago. The latest e.surv Mortgage Monitory shows one in five loans in the month went to buyers with small deposits. Some 13,427 mortgage approvals went to those with small deposits, many of whom are first-time buyers. Buyers with a deposit […]

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North east offers best returns as rents rise across UK

Rents climbed to an average of £904 across England and Wales in August. Nine out of 10 regions saw a year-on-year increase in rents as demand continues to outstrip supply. The fastest growth was seen in the East and North West of England, according to the latest Your Move buy-to-let index. Monthly rents in the […]

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Help to Buy completions reach £32.4bn

Some 134,558 properties have been bought through Help to Buy since the scheme launched in April 2013. Properties worth a total of £32.4 billion have been purchased since the inception of the Government scheme. Latest figures show first-time buyers accounted for 108,620 – or 81 per cent – of these purchases. The median property bought […]

Mortgage prisoners: does more need to be done?

More needs to be done to help mortgage prisoners stranded on higher-rate products. The FCA and lenders need to create more products to help those trapped in complex mortgages, say commentators. While first-time buyers and remortgagers are taking advantage of rock-bottom rates on mortgage products, those with more complex needs are underserved by the market. […]