Mortgages: 60% of renters can’t afford to buy a home

iStock_000001437287_ExtraSmallDespite various government initiatives, such as the Funding for Lending and New Buy schemes, new research has confirmed renters are finding it increasingly hard to get onto the housing ladder. The figures from the estate agent, Right Move, show the number of people ‘trapped’ in rented accommodation has reached the highest level for over two years. The study of 3,000 people found: 60% of renters said they could not afford to buy a home Only 15% of people surveyed said they were on track ...

Housing: New warning on house price ‘bubble’

iStock_000007190810XSmallDespite the effects of the last housing slump still being felt by many, there are concerns that government policies could be creating a new housing ‘bubble’. The warning comes from the Building Societies Association (BSA), who is concerned that assistance given by the government to homebuyers, particularly via the Help to Buy scheme, could “inadvertently” create a new housing ‘bubble’. Paul Broadhead, Head of Mortgage Policy at the BSA, said: “We are pleased that the Government shares our commitment to get the housing market moving, ...

Housing: Average asking price hits £250,000

English HomesAccording to Right Move, the UK’s largest estate agent, the average asking price for a property in the UK has now risen to £252,978; 1.2% higher than this time last month. Right Move’s latest figures also indicate that the rise in property prices experienced by the South East over the past few months is now spreading to the rest of the UK. Are you ...

Housing & Mortgage round up: Renters finding the going tough, whilst demand amongst homebuyers rises

Housing & mortgage round up_istockphotoNo house price surveys this week, but still plenty of housing news to bring you, dominated by an increase in house buying activity, plus news rents continue to increase. Housing demand at four year high New figures, from the Royal Institution of Chartered Surveyors (Rics), have shown demand for homes in the UK has risen to the highest level since 2009. The research also showed that the majority of Rics members are reporting rising ...