‘Bank of mum and dad’ pays out £2 billion to help first time buyers

‘Bank of mum and dad’ pays our £2 billion to help first time buyersA new survey has highlighted the massive ‘withdrawals’ many children are making from the ‘bank of mum and dad’, to help get onto the housing ladder. The research, undertaken by the housing charity Shelter and involving more than 15,000 people, shows on average parents are contributing £17,000 of the average £28,000 deposit needed by first time buyers. Staggeringly, the support of parents equates to ...

Mortgages: A generation of renters ‘locked out’ of the housing market

iStock_000018295400_ExtraSmallNew research has confirmed just how hard it is for first time buyers to save a large enough deposit to get onto the housing ladder. The research from housing charity Shelter, took into account a variety of factors, including earnings, rental levels, house prices and essential spending, to calculate the average length of time it takes to save a big enough deposit. Whilst the research only looked at areas of England, the results are likely to be replicated in Wales, ...

Housing & Mortgage Round Up: Mortgage rates at lowest level for over two decades

Housing & mortgage round up_istockphotoA week without house price surveys, but we’ve still found plenty to report for those people who need their weekly fixed of housing and mortgage news. This week we look at low mortgage rates, a new entrant to the mortgage market and calls for the government to do more to address the shortfall in affordable housing. Mortgage rates at lowest level for two decades New data from Moneyfacts has shown that mortgage interest rates are ...

Housing & Mortgage Round Up: Huge rise in house, whilst home ownership falls

Housing & mortgage round up_istockphotoThis week’s Housing and Mortgage Round Up has a distinctly historical feel to it with research showing an amazing increase in house prices over the last 40 years, whilst another report shows that home ownership has fallen over the past 25 years. But before that we start with the latest Halifax House Price Index figures. Are you looking for ...