Cheaper to rent in some regions

iStock_000007328454XSmallNew research, from mortgage giant Santander, reveals that in some areas of the UK it could be cheaper for prospective first time buyers to continue to rent, rather than buy a home. The research suggests that first time buyers in in London, the South East and perhaps surprisingly, Scotland, will find it cheaper to continue renting compared to buying a home. First time buyers in the capital face an average monthly mortgage outlay of £1,342 compared to an average monthly rent of £864....

Huge leap in mortgage lending

Huge leap in mortgage lending 150 pxNew figures from the Council of Mortgage Lenders (CML) show a huge increase in the level of mortgage lending over the past 12 months. The CML data shows a rise of 29% in gross mortgage lending in July this year, compared to the same time 12 months ago. The figures also show a 12% rise from June 2013 to July 2013, taking gross mortgage lending to £16.6 billion. According to the CML mortgage lending is now at the highest level since October 2008, when the ...

Mortgages: Lending to first time buyers jumps sharply

iStock_000004085541_ExtraSmallThe latest figures from the Council of Mortgage Lenders (CML), have shown a 42% rise in the number of first time buyers, compared to 12 months ago. Lending to home movers and people remortgaging their property also rose, but the increase in number of first time buyers, who are so vital to the housing market, is particularly significant. Spurred on by government incentives such as Help to Buy and the Funding for Lending scheme, which has pushed down interest rates, 25,100 first time buyers ...

Housing & Mortgage Round Up: Help to Buy unveiled, whilst first time buyers continue to struggle

Housing & mortgage round up_istockphotoA huge amount of housing and mortgage news to catch up on this week, with the main headlines being grabbed by the unveiling in the Budget of the Help to Buy scheme, designed to provide much needed help to people to get on and also move up the housing ladder. There is also news confirming just how negative many would-be first time buyers feel about the housing market, perhaps confirming the ...