Homeowners showed resilience with borrowings from home movers rising to £8.4 billion up 20% compared to August last year.
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Category Archives: Mortgage Buyers
House prices in London are at £471,761 and negative for the first time in eights years with the weakest performance in the UK since 2005.
The amount of wealth accessed by homeowners in 2017 by using equity release has increased 55% over the year helped by more products.
The number of remortgage buyers surge 12% taking advantage of record low mortgage rates to reduce the cost of repayments.
For first time buyers a discount mortgage could save them money rather than fixed rate where the interest charged is more expensive.
Number of home buyers taking out a mortgage in London is up 6% in the second quarter 2017 with strong demand from first time buyers.
There are over 5 million people with multiple properties after a 30% increase in their numbers since the start of the century.
The number of home movers has reduced by -2% creating a shortage of properties for first time buyers and higher prices.
Homebuyers can expect tougher affordability tests from lenders when applying for mortgages as Bank of England acts over easy borrowing.
Nearly one in three second steppers require over £20,000 in financial support from the bank of Mum and Dad to buy their next home.