The level of repossessed homes could be set to rise even further, an industry expert has suggested. According to Mark Lance, spokesperson for the Repossession Specialist, the impact of the Bank of England’s monetary policy committee (MPC) increasing the base rate of interest by 1.25 percentage points over the last year “has lead to three-figure [...]
Opting for a long-term fixed-rate deal can help homeowners keep themselves “insulated” from any predicted future interest rate rises, an industry commentator has suggested. Following five base rate increases by the Bank of England’s monetary policy committee over the last 12 months, Paul Fincham, spokesperson for Halifax, claimed that choosing such a product will keep [...]
First-time buyers are becoming increasingly prudent over the costs of buying a home, it has been suggested. According to Paul Holmes, chief executive of Firstrung, those looking to take their initial steps on the housing ladder are evermore aware of the various financial pressures related to the process. However, as they now have less choice [...]
In research carried out by the Council of Mortgage Lenders (CML), the number of first-time buyers getting on the property ladder was revealed to have fallen. Over the course of June, some 35,600 loans were issued to those looking to make their initial steps into the housing market – down from the 39,800 recorded in [...]
Property values increased over the course of June, the publication of a new set of figures shows. According to findings from Communities and Local Government (CLG), the average home rose during the month to 214,222 pounds, compared to the 210,793 pounds noted in May. As a result, year-on-year inflation was reported to stand at 12.1 [...]
Although more people are saving money, pressure on Britons’ finances could still be set to increase, according to a new study. In findings published in Birmingham Midshires’ regular Saving Britain report, two-thirds of consumers (67 per cent) have some money set aside, in comparison to the 62 per cent recorded at the same time last [...]
Britons are increasingly living on a financial “edge”, it has been suggested. In research carried out by Combined Insurance, just under a quarter of adults (23 per cent) do not have any money put into savings schemes. However, the study suggested that some could be facing further financial pressures as about a third of parents [...]