House prices continue to rocket, with the Nationwide House Price Index1 revealing annual house price growth of 13.4% in June, the highest level since November 2004.
The extended Stamp Duty holiday, in addition to the new mortgage guarantee scheme and changing property priorities (for example a desire for gardens and home offices), are all factors behind this rocketing demand.
Zoopla2 predict that 1.5 million homes will change hands this year, which equates to £461bn of sales. This would make sales 45% higher than last year and 68% higher than 2019! It would also make 2021 the busiest year for property since 2007 – and one of the top 10 busiest years since 1959.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.
Sources: 1nationwidehousepriceindex.co.uk ; 2zoopla.co.uk
Catch up on our other blog posts:
MORTGAGE LENDING CONTINUES TO SOAR
Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...
MAJOR BARRIER TO PROPERTY PURCHASE
Saving for a deposit has been cited as a major barrier to purchasing a home by 59% of people, according to the latest survey from the Building Societies Association (BSA)1. Climbing from 54% in December last year and just 40% last June, raising a deposit is...
DO YOU KNOW YOUR HOMES TRUE WORTH?
Do you think you know how much your home is really worth? Would you be surprised if it was worth much more or much less? Many homeowners’ estimates don’t live up to reality, with 45% of respondents to a recent survey1 undervaluing their property and 25%...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Flexible appointments
Or call —02380224925