Record 22% housing market share for first-time buyers

First-time buyers took a record 22% share of the housing market in the fourth quarter of 2016, the highest since records began in 2007. A press release from the Bank of England published on the 14th of March shows that the percentage of first-time buyers is rising, with figures set to go even higher later in the year. The fourth quarter of 2016 saw £62.8 billion of new residential loans taken out, which was a 2.6% decrease compared to the previous three months. Adrian Anderson, the director of property finance specialist ...

Retirement: Relying on property to help fund your retirement? You’re not alone

Relying on property to help fund your retirement? You’re not aloneTwo new surveys have shown the extent to which people are relying on property to help fund their retirement. The first, by More 2 Life, found that 41% of people approaching retirement are now including their property wealth as a key part of their retirement planning. The second survey, by Key Retirement, shows that retired homeowners have seen their combined property wealth increase by £33 billion in the last six months alone. The astonishing rise is equivalent to an average of £1,200 ...

The dirty dozen: 12 early warning signs an investment is a scam

HiRes 150pxHardly a week goes by without the financial press reporting another huge fine for a bank, an investment that has failed, or a ruling by the Financial Ombudsman Service in favour of an investor. So how do you spot a scam? What are the tell-tale signs? How can you avoid losing your life savings? Here are the dirty dozen, 12 early warning signs to look out for: #1: Cold callers and unsolicited texts Receiving an unsolicited call or text message, which offers you an investment opportunity or a “free pension review” (more ...

Buy to Let: Tax probe to be launched on thousands of landlords?

iStock_000004583777XSmallIf reports in the national press are correct HMRC (Her Majesty’s Revenue & Customs) is about to launch a crackdown on ‘rogue’ buy to let landlords. A report in the Daily Mail, reveals that up to 900,000 buy to let investors and second homeowners could be investigated by HMRC. According to the report, there are an estimated 1.4 million landlords in the UK, but only around 500,000 have registered with HMRC, leading to concerns that millions of pounds are being lost in tax receipts. Tax on property income Income from buy to let ...