Helping first-time buyers get a leg up onto the property ladder is considered a priority but high house prices mean it remains a pipe dream for many. However, there are still a few pockets in the UK where it's possible to buy after saving a relatively small deposit. Totally Money identified 10 hotspots for buyers using Help to Buy.
It might seem an odd move but there are still some reasons why borrowers would take out a mortgage that could rise rather than locking into a fix.
Nuvo provides easy and free access to a large number of mortgage products and advice. We caught up with the firm's founders Richard Hayes and Nick Sherratt to find out more.
Homeowners are being lured into handing over cash to a claims firm which says it could get a large chunk of their mortgage debt wiped off. The Advertising Standards Authority said last month that Easeyourmortgage.co.uk 'did not make it sufficiently clear that [its claims] were based on a theoretical possibility only'.
While a seasonal lull was expected, the 2.6 per cent monthly fall in the price of homes coming on to the market was the biggest recorded in five years, Rightmove said.
The UK Finance report - seen exclusively by Thisismoney.co.uk - argues that support for mortgage interest from the Government is a critical for struggling homeowners, especially the elderly.
Homeowners have been rushing to switching their mortgage to a cheaper deal after the Bank of England raised interest rates last month - but better deals could be imminent. December usually sees lenders launch a flurry of best buy rates to whip up interest and help them hit their end of year targets.
House prices rose by 2.5 per cent over the past year, Nationwide reported today, as the property market steadied itself at a lower rate of growth.
With the value of homes rising by £376billion in a year, the average value of a single home is now £256,912, marking a near £70,000 increase since 2007, Halifax said.
Mortgage brokers say they have received a flood of calls since the Chancellor axed the duty for first-time buyers on homes worth up to £300,000 in last week’s Budget.Many are choosing to use the money they had earmarked to pay this tax bill to put down a bigger deposit on their new home.
The latest Hometrack UK Cities House Price index shows that house prices in London have reached a record 14.5 times average earnings.
Stamp duty should be taken back to a flat 1% across the board, but if we won't do that and give up the revenue maybe it is time to charge the seller on their gain not the buyer.
Philip Hammond slashed tax bills for first-time buyers today as he removed stamp duty up to £300,000 for all those buying their first home. But the Office of Budget Responsibility said this would feed through into higher house prices, meaning first-time buyers pay more. So will the stamp duty holiday help or hinder first-time buyers? We take a look.
Our investigation reveals how baffling - and inexplicable - quirks in Britain’s council tax system have left homeowners facing a bills lottery.
London home owners are being hammered by stamp duty costs when they move, an estate agency has warned ahead of the Budget.
The building society last week launched a deal letting borrowers aged 55 to 84 release cash from their home without having to make monthly payments.
A stamp duty holiday for first-time buyers? More money for Help to Buy? And less red tape? All are potential policies to boost housing but we're hoping for something much more radical.
Housing is tipped to be a headline grabber in Chancellor Philip Hammond’s speech on Wednesday – with hints of possible stamp duty incentives for first-time buyers. Stamp duty is blamed for ‘suffocating the housing market’, according to a report last week by the London School of Economics.
Confidence in house prices rising has dropped over the last six months, according to a new Zoopla survey - with those in London suffering the most jitters.
The deal allows homeowners aged 55-84 to release cash from their home, and lets them stay put until they die. Borrowers must also take independent legal advice.
Britain's biggest insurance companies are using an EU ruling to brush a major investment scandal under the carpet. Payouts on endowment policies have crashed by up to 78 per cent over 25 years. Customers were lured in by promises of payouts of as much as £110,000 when their policies matured — enough to cover the average mortgage three times over, at the time.
The top deals lenders advertise in newspapers, on television and on buses are not always the cheapest. These low-rate offers typically have large fees, which put up the cost overall.
Two weighty reports out today both claim that stamp duty land tax is 'suffocating' the UK housing market and needs radical reform rather than a temporary fix.
The Bank of England's base rate move has all but killed off rates below 1%. Figures show the lowest two-year tracker rate on offer is now 1.24%, up from 0.99% at the start of November. Fixed rate mortgages had already risen in advance of the Bank of England rate decision and now just one building society has a rate below 1%, which may not last long.
When hunting for a flat, buyers will almost certainly be looking at leasehold properties – but may not understand what that means and whether it matters how long the lease lasts.
Property prices increased 2.3% between August and October, the fastest three month pace of growth since January, according to latest data from Halifax.
The mutually owned bank has teamed up with Legal & General Home Finance to offer older interest-only borrowers a lifetime mortgage or equity release as a way to repay their existing loan.
More than one in three homes currently on the market have had original prices slashed, according to property website Rightmove.
Sales of homes are falling across the UK as financially squeezed buyers lose interest and the flow of properties coming to market dries up, estate agents are reporting. The Royal Institution of Chartered Surveyors said that a net balance of 20 per cent more surveyors reported sales falling rather than increasing in October.
In this special report, we look at how you can survive and thrive financially in a world of 0.5 per cent base rate - and maybe get a bit angry in the process.
A national housing bond would take the pressure off the banks to lend to builders. It would also provide much needed funds to pump into building more affordable housing.
A sizeable number of homeowners will see mortgage payments rise after the Bank of England hiked the base rate by 0.25 per cent today, while savers will be hoping for some much-deserved respite as their rates rise. Here is what banks and building societies have said so far.
Exclusive figures from equity release lender One Family reveal one in five lifetime mortgage borrowers needs the money to clear their mortgage.
The Bank of England has raised the base rate, but mortgage rates are still near record lows. Yet, despite those cheap rates, many homeowners are still paying more than they need to.
Demand for five-year fixed deals from those remortgaging has hit yet another record high, according to latest data from conveyancing firm Legal Marketing Services. Some 42 per cent of homeowners remortgaging opted for a five-year fix last month, which compares to only nine per cent of all those remortgaging previously having a longer-term deal.
I'm due to remortgage and my lender is being difficult about my income - it won't accept all of the income I earn from my investments and says only half counts towards my mortgage payments.
A major study into the nation's finance by the City watchdog has revealed that an alarming proportion of borrowers with an interest-only mortgage were past state retirement age.
Borrowers who took out shared appreciation mortgages with Barclays or Bank of Scotland in the 1990s have until the end of the year if they want to sign up to a legal action against the banks. After receiving hundreds of requests from borrowers who took out the loans in 1997 and 1998, law firm Teacher Stern has decided to extend the sign-up period to the end of the year.
Debt experts say some of the country's most vulnerable borrowers are in for a 'nasty shock' when the Government scraps Support for Mortgage Interest benefit in April 2018.
While one in 20 on variable rate mortgages think a rate rise will pose a threat to their finances, a much greater 31% said their day-to-day living would be affected in some way.
A new crowdfunding platform is allowing retail investors the chance to back residential property developments by investing as little as £500. But this is a high-risk investment and questions are being asked about the property market. Our latest instalment of the Start-up Spotlight series looks at Homegrown to see why it thinks it can succeed.
Research suggests that prices in England fell by 0.85 per cent on average between July and September, with London recording the biggest fall at 0.99 per cent
Labour prime minister-elect Jacinda Ardern said the ban, only applicable to non-residents, will be introduced by Christmas.
House prices continued to rise in August, adding more than £1,000 in just a month, as fewer properties coming onto the market propped up growth, official figures have shown.
Four of the 10 market towns with the lowest house prices in England are located in the north-eastern county, according to Lloyds Bank.
You can obtain a good five-year fix at just 1.59 per cent at the moment, considerably less than you are paying now which gives you the added benefit of four additional years at such a low level. Whilst pound for pound over the remaining 12 months you are down in cash terms, what price do you put on security in the future and obtaining the additional funds you need now at a low longer-term rate?
Inheritance tax is one of the most hated around. But IHT is also a tax that can be avoided. Listen to this week's podcast to find out how and learn more about the Chancellor's plan to help the young.
Surveyors report that fewer people are buying properties than at any time since the Brexit vote. This is the sixth consecutive month of falls, according to the Royal Institution of Chartered Surveyors.
Property in the priciest area of England and Wales cost a huge 25 times as much as in the cheapest spot according to an interactive map from the Office for National Statistics. It shows that one square metre of floor space, an area about the size of a red telephone box, costs £19,439 in the salubrious London borough of Kensington and Chelsea.
The survey of 17,000 households conducted by property website Rightmove found that Leamington Spa was the most content place to live in the UK.
More than 20 banks and building societies have pulled their best mortgages since the Bank of England warned of an interest rate hike last month.
Four in five households are priced out of buying a bog standard newly-built home in London and the South East because house prices are so high, research suggests. Estate agent Savills claims that to be 'affordable' even to just 40 per cent of buyers a new-build property would have to cost £250,000 or less. But it warned they are largely priced higher, at similar levels to existing homes
The Department for Work and Pensions has written to more than 100,000 borrowers explaining that as of 5 April next year, the support from mortgage interest benefit will become a loan with interest.
More than 20 lenders have hiked their mortgage rates in the past month as fears of an imminent rise in the base rate grow.
The death of the bungalow could be less than a decade away, new figures reveal. Despite an ageing population, around one in 70 homes being built is a bungalow compared with one in seven in the 1980s. At the current rate of decline, the last bungalow could be built within nine years, according to analysis of data from the National House Building Council.
Mortgage experts are urging homeowners to ensure they protect their finances as soon as possible from future interest rate rises.
Between July and September, property prices were 1.4 per cent higher than they were in the previous three months, Halifax's House Price Index revealed.
The square footage of a property is one of the best indicators of what it is worth because - unlike wallpaper and furniture - it can't be changed easily without a huge financial investment. It can be used to compare the square footage of similar homes in an area, and used as a bargaining tool to negotiate the price of a property.
Halifax says it will accept two years of accounts as a minimum and in exceptional circumstances, those who had worked for themselves for just 12 months.
Knowing what the biggest turn-offs are for sellers can be a huge help in ensuring sure your home is snapped up in a timely manner.
London is among the global cities with property markets most at risk of being in a bubble, according to a new report from influential financial giant UBS. The report ranks Britain's capital as the sixth biggest property risk in the world, saying: 'Broad market prices should stagnate from here. High market valuations and political uncertainty call for cautiousness.'
Experts are warning homeowners to lock in to the rock-bottom rates on offer at the moment before they start to edge up.
Lloyds Bank, Atom Bank, Skipton Building Society, Principality BS, Monmouthshire BS and Aldermore Bank have all increased rates on their fixed deals.
First-time buyers and movers require help from the Bank of Mum and Dad, the Government feels the need to bung new home buyers interest-free cash, and a glance at estate agent listings involves a game of 'how much?'. But now an interesting piece of research has challenged the affordability doom and gloom, so does Britain really have a problem with high house prices?
NatWest customers can now apply for a home loan online, upload and share all relevant documentation, including bank statements and personal ID, and sign documents digitally.
The capital has seen a dramatic turnaround, from buyers queuing outside homes for sale to reduced signs on property listings, and Nationwide said homes in London are now down 0.6% in a year.
Figures buried in an official report show banks are lending more money to borrowers who can barely afford to get on the property ladder than at any time since the financial crisis. These are classed as homebuyers who put down just 5 pent or 10 per cent as a deposit - and then borrow at least three and a half times their salary, or two and three-quarter times their salary for couples.
If you want to get on the property ladder and progress up it, dealing with an estate agent is a necessary evil - but how do you choose? We run through everything you need to know.
When you Move is an app attempting to modernise the legal bit of buying and selling your home - but will it succeed where others have failed to apply technology to the law? We find out more.
Ten years after the collapse of Northern Rock, the former bank which pioneered this type of high-risk borrowing, hundreds of thousands are still suffering after being lured in by aggressive salesmen and brokers who were paid huge commissions. Northern Rock's call for help from the Bank of England was a landmark for the mortgage industry. It led to the first run on a bank in a century, and thousands of desperate customers lined the streets outside branches to try to rescue their cash.
Mortgages used to be repaid over 25 years but as house prices exploded, buyers are having to take longer mortgages in order to afford the monthly repayments, racking up significantly more interest.
NHS worker Stacey Flinn-Scholfield and her husband Paul were forced to sell their home at a loss last year after house prices failed to recover from the crash.
By using an online estate agents instead of a traditional high street option, sellers can save thousands of pounds, while also getting their home marketed professionally. But they must remember that it's not all about cost and instead pick a service based on its quality, as this is what is likely to achieve them the best sale price on their home. We take a look at what's on offer.
These so-called 'mortgages for life' could be available next year after the City watchdog revealed plans to give the loans the green light.
In August, the average cost of a home in the UK was £313,663, compared to £310,003 this month, Rightmove's latest House Price Index reveals.
Mortgage rates have been super competitive for a while now, but recently lenders have begun to ramp up their efforts to offer cheap rates on three-year deals. These have historically been few and far between, with most lenders offering their best rates on two-year and five-year deals - but three-year fixed rates offer a balance between affordability, flexibility and certainty.
Some 47% of home owners aged over 55 plan to downsize their homes in the future, releasing an average of £112,000 in equity from the move.
Not long ago the best advice given to anyone selling a home was to de-clutter, do a spot of decorating, fill the house with the aroma of fresh coffee and leave the rest to the estate agent.
Darren Widdowson, from Northamptonshire decided to try generating his own electricity with solar panels and a battery storage unit from Ikea and says he now pays just £4.50 every month for electricity to power his home and car. Ikea claims its system is the most competitive for sale and it is significantly cheaper than Tesla's similar system - its Powerwall, which starts at £5,400.
The City watchdog has signalled the return of interest-only mortgages for older borrowers - but should you wait to remortgage or do equity release now?
Would you be willing to pay your mortgage broker hundreds of pounds in fees if they made it clear exactly how much they were earning in commission too?
Borrowers are being offered a raft of cheap fixed rate mortgages as lenders attempt to lure them into remortgaging or buying a home. But HSBC has decided to buck the trend and launch a new rate mortgage that is a tracker instead. We pick out the best fixed and tracker rate mortgages and look at what next for rates.
Bank of England Governor Mark Carney has hinted once more than interest rates are likely to rise soon, leading to fresh speculation of a November hike.
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Read our top ten buy-to-let tips
Houses are expensive. The average home in the UK costs £268,000, according to the Office of National Statistics. Unless you are very wealthy, you are unlikely to be able to buy a home outright. Instead, you can use a mortgage to fund the bulk of the purchase. We explain the essentials.
Eight nail biting months and finally, we have moved into our first home. It's been a treacherous journey full of hurdles - here's what I wish we knew when we started. They might not apply to everyone, some of it may seem simplistic and various titbits are unique to our own homebuying nightmare, but I hope it helps those entering the process, or currently enduring their own slice of hell.
Do you live in one of the 50 best places in Britain?
Hart in Hampshire tops the list and the Orkney Islands win second place
Would you opt for a tracker mortgage if interest rates are set to go up in 2018?
Here's why it might be worth it
Britain's top ten property hotspots of 2017 revealed
Picturesque Suffolk town of Sudbury leads the places where asking prices rose fastest
I owned a home briefly years ago
Do I qualify as a first-time buyer to avoid stamp duty - and how would I get caught out?
Where can you get on the property ladder with a £6,897 deposit?
We reveal the UK's Help to Buy hotspots
Rip-off leases on new houses are banned
Law to ban 'feudal' practice that exploits buyers to be announced by Sajid Javid
Revealed: The towns where property asking prices are being slashed
With sellers cutting by an average of £25k
What can a first-time buyer afford around the UK?
We reveal what the average £165k budget buys - from a boat in London to a three-bed in Wales
The most-viewed properties for sale in 2017 revealed
Including a £150k former church and a ten-bed detached London house costing £30m
Property prices are up £10k in a year, figures show
But homes in this pocket of north Kent are up 15.5%
Should you hang on for cheaper mortgage rates?
Experts predict a best buy bonanza before Christmas
How to get a living room that will sell your home
Six top tips to make yours a hit among house hunters
Bitcoin Bay
Idyllic 13-acre plot on a Caribbean island for sale at £5.3M, but the owners will only take the cryptocurrency as payment
Helping first-time buyers is noble, but movers need a stamp duty cut too, says SIMON LAMBERT...
And perhaps the seller should pay
What next for mortgage rates?
Lenders cut fixes again as interest rate rise drifts once more
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