The pensioners will be kicked out of the three-bedroom coachhouse they have lived in for 15 years - the victims of a horrifying mis-selling scandal that has left them £376,000 in debt. The Financial Ombudsman Service found in their favour but, as the investment they were duped into taking out is so complicated, nothing can be done to help them.
The question of a generation: How will our children and grandchildren ever afford to own their own home?
There are 20 properties in the window of Connells estate agents in Watford - just one is available for a first-time buyer for less than £250,000. The town is no different to the 34 others in England identified by Shelter as having no affordable two-bed homes for families. Victoria Bischoff goes on the first-time buyer trail. ...read
Value of prime London homes up a lowly 2% in last year to lag behind Bangkok, Delhi and Nairobi, upmarket estate agent says
House prices in London have nudged ahead by two per cent in the last year, according to the latest quarterly index of luxury property from upmarket estate agent Knight Frank. This places it 21st in a list of cities which have seen the strongest property value growth in the last 12 months, behind Bangkok, Delhi and Nairobi.
The ground rent on my leasehold flat just went up by 25% after only five years: Is the freeholder entitled to do this?
I bought my maisonette with 125-year leasehold five years ago. My ground rent then was £200 per year but I have just had a letter advising me it is to be increased to £250, which is a massive jump. How legal is this? Combined with the service charges it amounts to just over £700 a year. How feasible is it to buy the freehold or extend the lease in the future?
PROPERTY MARKET ESSENTIALS
The luxury flats in the heart of London's financial centre... where British buyers get first refusal
British buyers will get first bite of the cherry on new apartments being launched in London's financial district. Canary Wharf Group's move has turned on its head the controversial practice of heavily promoting London developments to wealthy overseas buyers - particularly in the Far East. ...read
Ten tips for buy-to-let: the essential advice property investors need to consider
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Lower house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips ...read
MORTGAGES, HOUSE PRICES & PROPERTY NEWS
Want to exchange contracts fast? Then follow these top five tips for pushing through your property transaction
The pre-election uncertainty may be over and even the sun has made an appearance, but that doesn't mean there won't be major hurdles to overcome leading up to exchanging contracts on a new property. Even when both the seller and buyer are keen to exchange quickly, things can grind to a halt. And seasoned home-movers are not immune. The time between an offer being accepted and exchanged can be as quick as six weeks in England and Wales.
HOUSE PRICES: LATEST ON THE PROPERTY MARKET
House prices hit new record high in July but property inflation remains near lowest level in two years
Nationwide said house prices rose by a fairly modest 0.4 per cent on the month in July, after a surprise drop of 0.2 per cent the previous month. Across the UK, house prices increased by 3.5 per cent over the last year - this was a slight rise on last month's 3.3 per cent figure but remains near the lowest level in two years. ...read
MORTGAGES MUST READ
Demand for mortgages is rising 'significantly' as rates fall to record lows, says Bank of England
Demand for mortgages for buy-to-let and prime property purchases has grown especially, the Bank of England report showed. The number of households taking out personal loans has also increased as the cost of borrowing falls to a record low, the bank's latest credit conditions survey found. ...read
BUY-TO-LET: PROPERTY INVESTING ESSENTIALS
Boost for first-time buyers as buy-to-let landlords' profits are slashed in crackdown on mortgage interest tax relief
Buy-to-let landlords are facing cuts to the amount of tax relief they can claim on mortgage interest payments from April 2017, George Osborne revealed in the budget today. In a move which will 'level the playing field for homebuyers and investors,' according to the Chancellor, the amount landlords can claim as relief will be set at the basic rate of tax - currently 20 per cent. ...read
ASK AN EXPERT
Should we move back in with parents to save for our first home - or will lenders look more favourably on us if we are meeting monthly rent payments?
My fiancé and I have reached a crossroads. We have been renting in London for the last few years but are now ready to buy our first property in outer commuter lands. We have a sufficient deposit, but cannot decide whether to take a short-term rent outside of London while house-hunting or move back in with parents who live near to the area we are planning to buy in the interim. ...read
GUIDES & TOOLS TO BEAT THE PROPERTY MARKET
On the hunt for a home? The first-time buyer's guide to getting a mortgage
Are you hoping to get a foot on the property ladder? This Is Money's step-by-step guide explains how first-time buyers can get the best deal on their mortgage, make sure they pick the right choice for them and avoid the market's traps. We explain what new buyers need to know, and how they are being offered assistance from the Government in the form of Help to Buy.
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PROPERTY: DON'T MISS
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- 'Second steppers' caught in new home loans The families who would need to double their mortgage to move home
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- The best places to live in the UK Harrogate residents are the happiest with their lot for third year in a row
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- The figures in the property market don't add up Heed the warning signs of a house price crash, says JAMES CONEY
- The question of a generation How will our children and grandchildren ever afford to own their own home?
- As Bank of England hints that interest rates could rise by the end of the year Should borrowers lock into a fixed-rate mortgage now?
- Stamp duty calculator How big a tax bill will your property purchase trigger?
- Ten tips for buy-to-let The essential advice for property investors
Latest: Mortgages & home
- SIMON LAMBERT: The reckless plunge into mortgage mania that still hangs over Britain
- Home repossessions hit lowest level since records began – but experts warn this could all change when interest rates rise...
- Property for sale drought pushes prices even higher - with number of sellers hitting a record low, says RICS.
- The most heart-breaking mis-selling scandal of all: Richard and Rita Kauffman are losing their home even though they're NOT behind on their mortgage
- What's in an address? Properties with 'lane' in the title are typically £100k more expensive than those on a 'street'...
- UK property shortage intensifies as new listings slump 13% in July, with Glasgow and Edinburgh recording biggest falls
- SECRET DIARY OF A FIRST-TIME BUYER: We've found a house - it's grotty, has no original features - and we think it's perfect
- 'Second steppers' caught in new home loans - the families who would need to double their mortgage to move home
- Tax haul falls as sweeping changes to stamp duty hits sales of expensive homes, HMRC data shows
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