Mortgage overpayments – small steps, big savings
Overpaying your mortgage, even by small amounts, could save you thousands and cut years off your loan. Thousands of homeowners could be tapping into these benefits, but a third of the people not making overpayments say they are being held back by a lack of understanding.
Fewer young people securing mortgages
A proposed new ‘Freedom to Buy’ mortgage guarantee scheme is unlikely to support prospective first-time buyers, according to FCA data analysed by Quilter. The total number of people between the ages of 18 and 30 securing a mortgage was 350,092 in 2023, down from a spike of 401,665 in 2021
Buyers of new builds more protected than ever
It might not be the most exciting thing to think about when looking for a new home but regulations for newly built homes can certainly make a big difference to buyers.
Do FTBs know the support available to them?
Many FTBs lack awareness of affordable schemes like Shared Ownership, despite its benefits. Shared Ownership offers lower deposits by allowing buyers to purchase property shares. To afford homes, many young Londoners work more and rely on financial support from parents
Significant gains for UK homeowners over two decades
Over the past 20 years, UK properties have increased in value by an average of £80,000. High-demand areas like the Cotswolds and South East saw the most significant gains, driven by location, infrastructure, and lifestyle changes, highlighting market resilience
Equity Release growth trend continues
The equity release market continues to return to growth, with £615m unlocked in Q3 alone. Average loan sizes rose, reflecting increased confidence among homeowners over 50. Equity release offers financial flexibility but requires careful consideration of personal circumstances
Budget news for the housing market
Taxation may have dominated the #AutumnBudget2024, but the fiscal event did include some announcements that will impact homeowners, buyers and sellers. Read more about the key changes…
Housing sales set to stay high after a robust year end
UK housing sales soared in 2024, driven by easing mortgage rates and strong first-time buyer activity. Modest price growth varied regionally. Stamp Duty relief expiring in March 2025 may spur early transactions before slowing later in the year
Critical illness cover – don’t bury your head in the sand
Nobody wants to think about suffering from a life-changing illness but getting the right protection in place now can provide peace of mind. Critical illness cover pays out a lump sum to help you financially in this difficult situation
Northern mortgage hotspots
Economic growth figures released over the summer generally proved stronger than analysts had expected. Global growth for the whole of 2024 is now likely to be 3.2% and 3.3% in 2025 – a healthy pace of growth after a difficult few years