With house prices continuing to strengthen, many buyers are engaged in a race for space.
The extension of the Stamp Duty holiday, and subsequent taper, are helping fuel the market. In June, Andy Haldane the Bank of England’s Chief Economist at the time, spoke at a conference, declaring the UK housing market “on fire” adding “There’s a significant imbalance between incipient demand and available supply of houses, and because the laws of economic gravity have not been suspended, the result is pretty punchy rises in house prices.”
He also cited increased demand from richer households with savings accumulated during lockdown, as a factor adding heat to the market. He believes the market is likely to continue running hot with all these factors at play, combined with ultra-low interest rates.
Catch up on our other blog posts:
Life cover ‘myths’ prevent people from taking out much-needed insurance, according to research1. A survey from a price comparison site revealed that 40% of adults with dependent children have not yet taken out life insurance. When asked why they had not taken...
A common misconception about protection insurance is that you don’t need it unless you have a mortgage and children. So prevalent is this myth, in fact, that less than 20% of tenants have insurance in place (whether individually or through work) that would cover...
The number of people renting in the UK is growing all the time. Yet according to a report1, less than 10% of tenants have individual protection in place to cover their rent if they were unable to work due to illness. This compares to 58% of mortgage holders who have...
(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
Or call —02380224925