Blog

Keep up to date with the latest mortgage news on Gareth’s blog.

 

Stamp Duty – Just a Reminder!

Stamp Duty – Just a Reminder!

The temporary raising of the nil-rate Stamp Duty band threshold to £500,000 ended on 30 June. The measure was introduced in July 2020 to maintain confidence in the housing market during the pandemic. Don’t despair if you missed the deadline, as there's now a tapered...

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A Record Summer for house prices?

A Record Summer for house prices?

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...

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Your Mortgage Options During A Divorce

Your Mortgage Options During A Divorce

Many family lawyers are predicting that the stresses of the last year will result in a post-lockdown divorce boom. For couples who own their home, one of the biggest decisions is what to do with the property.   One option is to sell the house and split the...

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£17m a day paid in protection claims

£17m a day paid in protection claims

Association of British Insurers (ABI)1 figures show that the insurance industry paid out £6.2bn in life insurance, critical illness and income protection claims in 2020, which averages £17m a day, the highest combined figure on record and up 8% on 2019.   ...

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Who Benefits From Your Life Insurance?

Who Benefits From Your Life Insurance?

It’s a good idea to take out life insurance, but don’t forget to make sure the proceeds of any payout will go to those you want to benefit. Too often, policies are set up incorrectly and may mean that your loved ones miss out.    Unmarried partners would not be...

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What Invalidates Your Home Insurance?

What Invalidates Your Home Insurance?

One in four UK households have no home contents insurance1, but even if you are insured, you could be invalidating your cover without realising. Here’s how: Unoccupied homes Home insurance policies usually limit the number of days you can leave your property vacant...

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People Looking To Move On The Rise

People Looking To Move On The Rise

Rightmove reported its highest ever number of website visits (over 9.3 million) on 7 April1. In March, house hunters spent over two billion minutes on the property listing site. Buyer demand is high, as families continue to reassess their priorities for their home. In...

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MPs Vote Against SVR Cap

MPs Vote Against SVR Cap

Following a vote in the House of Lords, in favour of introducing a Standard Variable Rate (SVR) cap on closed book mortgages, where members backed an amendment to the Financial Services Bill that would cap the SVR for mortgage prisoners and provide access to fixed...

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Mortgage Guarantee Scheme – Need To Knows

Mortgage Guarantee Scheme – Need To Knows

The Chancellor’s announcement of a new government guarantee scheme for 95% LTV mortgages was welcome news for prospective homebuyers with a 5% deposit, who have effectively been blocked from the property market during the pandemic.    Launched in April 2021, the...

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Mortgage Choice Up As Confidence Returns

Mortgage Choice Up As Confidence Returns

It has been reported that the number of mortgage deals on the market in April, is at its highest level in over a year. There are now 3,842 mortgage products on the market, an increase of 9% on the previous month, where 3,522 products were available1.  Product...

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2020: A Lesson In Protection?

2020: A Lesson In Protection?

Many people have lost something in the last year or so, perhaps their job, freedom to socialise or confidence in their finances. We feel there may have been at least one silver lining, however: that the pandemic is starting to change attitudes about protection...

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Mortgage Choice For Buy To Let Investors

Mortgage Choice For Buy To Let Investors

It’s been a tough year or so for tenants – but it’s also been a difficult one for landlords, with reduced rental income having a knock-on effect on their mortgage prospects.  Many lenders withdrew buy-to-let mortgage deals early in the pandemic but, according to...

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How To Make Your Home Stand Out Online

How To Make Your Home Stand Out Online

If you’re selling up, it’s important to make your home stand out from the crowd of online listings. Here are our top tips to help: Good photography - Bright, professional photographs that capture the space in natural light will make a better impression than quick...

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Demand For Property Reaches A Ten Year High

Demand For Property Reaches A Ten Year High

Spring price surge Rightmove’s April House Price Index indicated a monthly surge in asking prices of 2.1% (£6,733) has rocketed the national average house price to £327,797. This is only the second time in five years that prices have jumped by over 2% in a month and...

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Financially Support Adult Children

Financially Support Adult Children

Research has shown that 50% of parents in the UK have spent thousands of pounds supporting their adult children (18+) during the pandemic1. Although the average spend has been nearly £1,300 over the three-month period to December 2020, one in 50 parents have spent...

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FCA Reveals The State Of The Nation

FCA Reveals The State Of The Nation

In February 2020, the Financial Conduct Authority conducted its second Financial Lives survey1, which it followed up with further research in October 2020, to see how people had coped with the financial impact of the pandemic. The results indicate a rise in financial...

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First Time Landlords Show Interest

First Time Landlords Show Interest

Recent data from mortgage criteria software provider Knowledge Bank, clearly demonstrates the high interest in the buy-to-let market from first-time landlord clients lately. In February, the most searched criteria by buy-to-let brokers was ‘first-time landlords.’ ...

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Forming Money Habits – Talk To Your Kids

Forming Money Habits – Talk To Your Kids

The effect of the pandemic on children is immeasurable, the regular routine of school life, hobbies and celebrations evaporated overnight. One survey asked children what made them feel stressed during lockdown and discovered money worries featured high up the list,...

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Get paid To Go Green As Grant Extended

Get paid To Go Green As Grant Extended

The Green Homes Grant, which allows homeowners in England to claim vouchers of up to £5,000 to pay for energy-saving home improvements, has been extended. Homeowners will now have until 31 March 2022 to complete energy efficient upgrades to their home, rather than the...

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Home Contents Value Rises At Christmas

Home Contents Value Rises At Christmas

With UK shoppers expected to have spent an average of £346 on Christmas gifts over the festive period, now’s the time to check whether your home insurance still adequately protects you. Expensive presents for the kids, electronic items and high cost jewellery, for...

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Life Cover Costs – It Pays To Be Young

Life Cover Costs – It Pays To Be Young

The traditional life stages, such as owning a home and having a family, are now being reached much later than previous generations. With property prices high, student loans and an uncertain job market, the younger generation often find themselves postponing big...

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Older Borrower? What Are Your Options?

Older Borrower? What Are Your Options?

Although there is no maximum age for applying for a mortgage, each lender will have their own limits such as a maximum age at which you can take out a mortgage and a maximum age for when the mortgage term ends. If you are about to retire or have retired, your lender...

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Protect Your Income As Well As Your Life

Protect Your Income As Well As Your Life

The pandemic has clearly highlighted the impact that unexpected events can have on our lives. Not just through loss of life but impacting people’s incomes. Although you might have sufficient funds for the short term, longer-term, you could struggle to meet household...

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Understanding The Value Of Life Insurance

Understanding The Value Of Life Insurance

Last year, during the initial height of the pandemic, insurers received 7,000 life insurance claims and paid out £90m to support families of those who had sadly lost their lives to the virus, representing total claims of £980,000 settled every day. Data from the...

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Why It Pays To Buy Critical Illness Cover

Why It Pays To Buy Critical Illness Cover

Critical illness cover pays out a lump sum if you are diagnosed with a condition or illness listed on the policy. Policies typically cover between 10 and 100 different conditions or illnesses, with the average policy covering around 40. Conditions can include kidney...

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First-Time Buyers Affordability Gap Narrows

First-Time Buyers Affordability Gap Narrows

Reported data from the latest MBT Affordability Index has revealed that the ‘affordability gap’ – the difference between the loan amount requested and the loan offered – dropped to a record low of 15% in November last year. This gap, where no lender is able to meet...

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For Lifetime Mortgages/Equity Release the fee will be £799.

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And can I say Kelly you did a great job as I’m alway away or working but you helped me kept me informed and chased me for paperwork. Good team”

Gerry Fitzgerald – Google Review

As first time buyers we had no idea about mortgages and would have just gone with our bank had it not been for South Coast Mortgages. They made it so easy to understand and got us the best deal.

Antonia M – Google Review

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02380 224 925

info@southcoastmortgages.com

South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.