Mortgage Rates Fall Amid Economic Uncertainty: Impact of US Trade Tariffs
UK mortgage lenders are cutting rates in response to expected Bank of England interest rate reductions, driven by global economic uncertainty and US trade tariffs.
Buying & Selling a Home
How Mortgage Lenders Are Easing Restrictions to Help More First-Time Buyers in 2025
In 2025, UK mortgage lenders are easing rules to help first-time buyers. With lower deposits, relaxed affordability checks, and falling interest rates, homeownership is becoming more achievable.
Hundreds more leaseholders freed from costly contract terms
More than 500 households will no longer be subject to terms that cause their ground rents to double, after eight more firms agreed to remove problematic clauses from their leasehold contracts. Their decision follows action by the Competition and Markets Authority (CMA). Some leasehold contract terms, which kick in every 10 or 15 years, can
Government announces ground rent reforms to benefit leaseholders
The Government has announced proposals to cut ground rents to help homeowners in leasehold properties. Housing Secretary Michael Gove has launched a consultation that will set out options including capping ground rents at a so called “peppercorn” rate for existing leaseholders, freezing ground rents at current levels and capping the ground rents at a percentage
House prices show monthly rise but annual fall
UK house prices have risen slightly on a monthly basis, but the overall trend is still downwards, according to the latest figures from the Land Registry. The annual percentage change for average UK house prices was 3.5% in the 12 months to April 2023, compared with 4.1% in the 12 months to March 2023. The
New insurance scheme to enable flat sales in high-rise buildings
A new insurance scheme has been developed to enable people living in high-rise buildings to sell their homes in the wake of the Grenfell Tower fire tragedy. Following the fire in 2017, mortgage lenders became reluctant to lend to buyers of flats in high-rise buildings, and sales dropped rapidly. To provide assurance, a building industry
UK House Prices rose by more than 12.4% over the last year
House prices across the UK increased by an average of 12.4% in the year to April 2022, according to the latest figures from the Land Registry. It means the average property in the UK is now valued at £281,161. On a non-seasonally adjusted basis, house prices increased by 1.1% between March and April 2022. The UK Property Transactions Statistics showed
Rule changes mean new homes must produce 30% less carbon
The government is introducing new rules to ensure that new homes and buildings in England will have to produce significantly less carbon dioxide as part of the battle against climate change. Under the new regulations, CO2 emissions from new build homes must be around 30% lower than current standards and emissions from other new buildings,
Government to end abuse of tax loophole on second homes
The government is closing a loophole that allows owners of second homes to avoid paying tax by claiming their often-empty properties are holiday lets. The changes will target people who take advantage of the system to avoid paying their fair share towards local services in popular destinations such as Cornwall, Devon, the Lake District, Suffolk,
Peppercorn ground rent for new lease flats
Parliament has just passed The Leasehold Reform (Ground Rent) Act 2022 which will impose a peppercorn ground rent in new leases of flats. There will be a few exceptions such as shared ownership properties and in Islamic financing – they will continue to include rent. Ground rents will also be allowed to remain in flats