Excess demand over supply is the greatest for a decade and 34% higher than last year sending house prices even higher.
First time buyers with small deposits are returning to the market as lenders bring back high loan to value mortgages since the pandemic.
Transactions bounced back strongly for first time buyers in the second half of 2020 despite a 10.0% rise in house prices.
Pent-up demand for equity release and falling interest rates has seen a recovery in plans taken out after slowdown during the first lockdown.
Research from Halifax reveals the UK house price growth winners in 2020 is Islington in London with values 13.4% up last year.
The government is not considering a stamp duty holiday extension after calls for more time following the latest Coronavirus Tier 4 rules.
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.
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London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.