Landlords who took West Bromwich Building Society to court after it raised tracker rates in December 2013 have won at appeal arguing the move was unlawful. Tracker mortgages are meant to rise and fall with any movement of the Bank of England base rate, which has been glued at 0.5 per cent since March 2009.
The homes blighted by messy neighbours: Fly-tipping and overflowing bins create headache for more than half of owners
More than half of homeowners are affected by unsightly fly-tipping and overflowing bins, it has been claimed. One in five homeowners are even considering moving home due to problems, such as vandalism, dumped rubbish, untidy gardens and buildings in disrepair, says Lloyds Bank.
Average property price in British seaside towns has grown £53k in last decade - and one has seen property values soar 139%...
Fraserburgh in Scotland has seen the biggest increases in price in the last ten years, from an average of £63,540 to £151,719 today - a 139 per cent surge according to Halifax. In fact, 19 of the 20 seaside towns listed in the report which have seen the biggest gains are found in Scotland, with only Brighton, Sussex sneaking into the list.
The dark art of mortgage affordability exposed: The astonishing £200,000 gap between what lenders' calculators say you can borrow
Unwary first-time buyers could be pushed needlessly into smaller properties or different areas due to the 'dark art' of mortgage affordability calculators. Using a joint income of £75,000 and a deposit of £25,000 our investigations uncovered a near £200,000 difference between lenders' calculators' mortgage amounts.
House prices surge by largest monthly amount since financial crisis with typical property adding £8k in March, official figures show
The typical home cost £292,000 in March, a rise of £8,000 compared to February, according to the latest data from the Office for National Statistics. This is the biggest monthly price leap since the recession gripped the UK and hit property values hard. The rise was driven largely in London and the South East. Annual house price increases were registered at 13 per cent in London, 12.2 per cent in the South East and 12.1 per cent in the East of England.
'Trouble in paradise': National estate agency boss warns of big slump in buyers after buy-to-let rush and that house prices have hit a ceiling
New buyer demand slumped 46 per cent in April, said national estate agency Haart and its boss warned sellers need to now be 'more realistic with their asking prices.' Paul Smith, chief executive of Haart - which has 100 branches nationwide - says there is 'trouble in paradise' for Britain's property market.
Demand for homes declines for first time in over a year as stamp duty deadline passes - but property prices keep climbing, say surveyors
Surveyors in most parts of the UK recorded less interest from homebuyers, with a net balance of 22 per cent reporting a fall in new buyer enquiries. However, a shortage of homes on the market means prices are set to keep rising over the next few years, the Royal Institute of Chartered Surveyors report said.
British cities becoming 'unaffordable blackspots' for first-time buyers - with property prices rising 306% in 20 years
A string of cities across England and Wales are rapidly becoming 'unaffordable hotspots' for first-time buyers. In Brighton, property prices have increased by 463 per cent in the last 20 years, leaving only 9 per cent of homes in the coastal city in the 'affordable' category, compared to 100 per cent in 1995. Across England and Wales, the average cost of a home has risen by around 306 per cent since 1995, with a typical property selling for 5.51 times more than the average first-time buyer's annual pay packet, the Post Office Money Mortgages said.
Tougher buy-to-let rules could backfire and reduce homes on sale to first-time buyers and movers, warns expert
Tougher conditions for the buy-to-let market could backfire and result in amateur landlords selling their properties on to bigger players - reducing properties available to home movers and first timers. Despite hopes that small landlords selling up in response to tax changes would increase the number of homes on the market, a mortgage expert has warned of the opposite.
MORTGAGES & PROPERTY ESSENTIALS
MORTGAGES, HOUSE PRICES & PROPERTY NEWS
Rise of the 40 YEAR mortgage: First-time buyers' ever-longer terms to afford high house prices (but it could cost £60k more)
There has been a big rise in the number of first-time homebuyers taking out mortgages with a longer term than the traditional 25 years, as they try to keep up with property prices. This may deliver lower monthly payments but a £150,000 mortgage over 40 years rather than 25 will end up costing £63,000 more.
The great mortgage stretch: Should you borrow for more than 30 years to get on the housing ladder?
This is becoming an attractive option to secure a property - but could leave you paying more than £30,000 extra on a home loan. Additionally, with the average age of a first-time buyer now at just over 30, many borrowers could end up saddled with mortgage debt well into their retirement. Aston Carter and his fiancee Emma Shuker opted for a two-year, fixed-rate deal over a 40-year term.
Tax penalty for families who have a granny flat: Homeowners could be forced to knock down self-contained annexes if they want to sell their houses
Families who own homes with 'granny flats' could be forced to knock them down if they want to sell their houses after being hit by a new tax. As many as 33,000 homeowners live in properties with a self-contained flat for an elderly relative. Under tax rules introduced yesterday, they will be classed as owning two properties if they try to sell up.
The perils of the single first-time buyer: Those buying a home alone face a 13-year wait to save deposit
But the 'time to save' report by estate agents Hamptons International found that buying with someone else as a couple typically shaves around 10 years off the time it takes to get on the housing ladder. Couples in London face an eight-year wait to save enough for a deposit, compared with single people who face a wait of around 45 years and nine months, it found. Meanwhile, although the majority of Britons want to own their own home, 'generation rent' is giving up on getting on the property ladder, according to housing charity Shelter.
Our mother died and we don't know whether to sell her property or rent it out - would we be liable for capital gains tax if we sell?
My sister and I are wondering whether to sell our late mother's house or let it out. If we sold now, would it be liable for capital gains tax? What would be the situation if we sold in ten years' time? Our mother spent the last two years of her life in a care home, so the house wasn't her main home.
People in glasshouses... can save a small fortune! Invest in a greenhouse to help stay healthy, wealthy and wise
A greenhouse not only provides a weatherproof outdoor sanctuary but a practical space where you can grow plants that will help you knock hundreds of pounds off your annual grocery bill. Those put off by the expense may find someone local who is willing to donate an old greenhouse for free. It will save the donor the effort of taking it away when no longer required.
'I wish I'd never bought a house': BBC Breakfast's Steph McGovern reveals getting on the property ladder was a bad move
Steph McGovern, the BBC Breakfast presenter, says the worst financial decision she ever made was investing in property. McGovern, who bought a three-bedroom terrace house in Middlesbrough just before the 2008 financial crash, estimates the home is worth 15 per cent less than she paid for it. She reveals all in Me & my money.
MORTGAGES: WHAT YOU NEED TO KNOW
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PROPERTY: DON'T MISS
- Average property price in British seaside towns has grown £53k in last decade And one has seen property values soar 139%...
- Can I keep the price of my flat off those websites that allow you to look up what homes have been sold for?
- Living near a school rated 'outstanding' by Ofsted adds almost £44k to house prices How much extra would you be prepared to pay to live close to the best local primary school?
- 'Trouble in paradise': National estate agency boss warns of big slump in buyers after buy-to-let rush and that house prices have hit a ceiling. Sellers need be 'realistic with their asking prices'.
- The mortgage that transfers wealth to your children: Nationwide set to launch mortgages that allow young people to get on the housing ladder by using wealth tied up in their parents' property.
- How much will your house be worth in 2030? Map reveals house price projections across Britain
- The dark art of mortgage affordability exposed The astonishing £200,000 gap between what lenders' calculators say you can borrow
- Demand for homes declines for first time in over a year as stamp duty deadline passes - But sellers can relax as property prices keep climbing, say surveyors.
- Gazumping could be banned as ministers plan shake-up It would protect thousands of home buyers who suffer huge bills from sales falling through.
- Councils across UK mull crackdown on second homes It follows residents of 'Kensington-on-Sea' voting to ban outsiders from buying new-builds in the popular village.
- There are warning signs everywhere that the British housing bubble is about to go POP! Money Mail's DAN HYDE on why London prices have little room to grow.
- 'We signed up to a Help to Buy Isa': How to build up a deposit without the Bank of Mum and Dad Here are six key things you need to know about the alternative way to build a deposit.
- What I wish I'd known when buying my first home: 18 tips and pitfalls to avoid from a new homeowner when leaping onto the property ladder
- We want to lend our son money to buy a house with his girlfriend but they fall out all the time How do we protect our cash in case they break up for good?
- The 100% home loan is back Barclays launches mortgage for first-time buyers with NO DEPOSIT - so long as mum and dad back it
- Halifax chops top rate it pays on its Help to Buy Isa by more than a third to just 2.5% It comes five months after the account was launched at a top rate of 4 per cent.
- You CAN rent a house in London for £700 a month (but only if you're prepared to live in a seven-foot wide converted GARAGE)
- What next for mortgage rates? Lenders cut fixes again as interest rate rise drifts once more
- 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
- New mortgage price war means borrowers with small deposits can save up to £1,500 a year
- Property sales drop by 45% after March's buy-to-let investor rush - but average house price is still rising by an annual 9.2%
- Could you make money from your home tax-free: Surge in homeowners renting out space for holidays and businesses... including a floating office
- Planning applications in the South rocket as builders cash in on London commuters
- Branch out: From a barbecue to a tree house - how your garden can save or make money this summer
- Three in ten homebuyers see deals fall through as they are 'gazumped' or seller stays put - and it costs them £3k every time
- Instant heirlooms: Snap up these six modern classic pieces of furniture now and you could make thousands...
- Brexit could hit UK property market 'for years to come' as impending vote holds back house prices
- Can I keep the price of my flat off those websites that allow you to look up what homes have been sold for?