The number of first-time home buyers has reached its highest level for 12 years. The latest mortgage data reveals that 35,010 people took their first step on the property ladder in August. That’s the highest monthly total since August 2007. The figures, from UK Finance, follow the Ministry of Housing’s own research revealing 87% of
The value of the government’s Help to Buy scheme has been called into question by MPs on the Public Accounts Committee. They say much of the money invested could have been better spent elsewhere. The Help to Buy: Equity Loan scheme was introduced in April 2013 by the Ministry of Housing, Communities & Local Government
The government has announced it will invest £600 million to build 50,000 new homes in England. Chancellor Sajid Javid says the homes will be built in high demand areas using money from the Housing Infrastructure Fund (HIF). Many potential sites across the country lack the infrastructure needed to make building homes on them viable. This
Homeowners buying a property under Help to Buy are now allowed to take out 35-year mortgages. The government has moved to close what it describes as a loophole, which has seen purchasers using the scheme facing difficulties and uncertainty if they wanted to take out a mortgage with a term of more than 25 years.
The latest House Price Index figures show that the cost of an average home in the UK jumped 0.7% between March and April. The annual rise to April was 1.4%, bringing the cost of the average property to £228,903. In England, the annual rise was 1.1%, with the average property costing £245,128. The regional data
The number of affordable homes has increased according to the latest figures published by the government’s housing accelerator, Homes England. The numbers of house builds started and completed in the past 12 months are both up on the previous year. Between April 2018 and March 2019 there were 45,692 new house builds started under programmes
House prices rose slightly over the year to March, but there was a fall in the latest monthly figures. The UK House Price Index shows that prices fell by an average of 0.2% between February and March. However, there was an annual rise of 1.4%. The average house in the UK is now valued at
The government has issued a new set of guidelines to help people preparing to sell their home. The document, How to Sell, was produced by the Ministry of Housing, Communities and Local Government, and covers everything from ensuring your home has ‘kerb appeal’ to making sure you get good legal advice from a qualified solicitor.
The Land Registry says its commitment to developing new digital services is making the process of buying a home simpler and quicker. One of its main innovations is a system allowing homeowners to re-mortgage their property by signing their mortgage deeds online. Lord Henley, the minister with responsibility for the Land Registry, said: “People are
UK house prices rose by an average 1.7% in the year to January but there were wide variations in different regions across the country. The House Price Index compiled by the Land Registry shows that although prices rose year on year, there was a fall of 0.8% from December 2018 to January 2019. The average