To rent or buy? The question which splits first time buyers

English HomesNew data has painted a confusing picture of the first time buyer housing market. The Council of Mortgage Lenders (CML), has released figures which show the number of first time buyers rose by 41% in July 2013, compared to the same time last year. In contrast, research from insurer LV=, formerly known as Liverpool Victoria, has shown many people of first time buyer age are happy to continue to rent. First time buyers on the rise The CML data shows a total ...

Buy to let boom continues

iStock_000010528981XSmallNew figures from the Council for Mortgage Lenders (CML), show the buy to let market continues to surge forward, on the back of low interest rates, low property prices and strong demand from tenants. The figures from the CML show 40,000 buy to let mortgages were granted in the second quarter of the year, totalling just over £5 billion. Both figures are at their highest levels since 2008, when the market was being ravaged by the twin effects of the financial crisis and the credit crunch. The new ...

6 Hints & tips to help your children get onto the housing ladder

ladder to the sky A recent survey from the housing charity Shelter, has showed just how hard it is for many would-be first timebuyers to get onto the housing ladder. The full survey results can be found by clicking here. The main findings though were shocking: The average purchase price paid by a first time buyer in England is £139,920 The average deposit put down is £27,894, equivalent to 20% of the purchase price It will take a couple ...

European Union agree tighter guidelines for mortgage lenders

European Union agree tighter guidelines for mortgage lendersThe European Union (EU) has agreed to a tighter set of guidelines for mortgage lenders, which after April 2014 will see borrowers having to pass a standard affordability assessment to get a mortgage. Whilst the new directive is designed to prevent a repeat of the runaway lending seen before the credit crunch, it will also contain provisions to make it easier for potential borrowers to shop around the mortgage market, to get the best deal....