The current economic climate continues to wield its influence on the preferences of prospective property buyers, significantly impacting decisions on property co-ownership and shared living arrangements. Recent research conducted by Mortgage Advice Bureau has unearthed compelling insights into the evolving landscape of property acquisition, revealing changing attitudes and considerations in light of...
The UK's housing market, which witnessed a remarkable surge during the Covid-19 pandemic, is now exhibiting signs of moderation. Recent data from property portal Rightmove reveals a notable decline in asking prices for homes during August, the sharpest since 2018. After a string of four consecutive months marked by decreasing house prices, this shift hints at a broader slowdown in the property sector....
Economists are predicting a significant downturn in the UK property market, with a 10% drop in house prices anticipated by the end of this year. The EY ITEM Club’s Spring Forecast has suggested that the average price of a UK home could fall from £290,000 to £261,000, as the influence of the property market on consumer spending shifts. However, despite the slump in house prices, experts do not believe...
This year has seen a lot of changes in the housing market. In 2022, we have seen record-breaking house price increases, huge buyer demand, and homes selling faster than ever before. There was an increase of 5.6% in asking prices in Great Britain this year, to an average of £359,137. Prices were almost £17,000 higher than they were in 2021, when they increased 6.3%. The imbalance between...
What are Special-Purpose Vehicle Companies? SPVs are commonly used to purchase and manage buy-to-let properties in the real estate industry. Limited companies isolate the risk when financing and purchasing property, since they have their own legal status, assets, and liabilities. A SPV can hold multiple properties, allowing landlords to expand quickly. Why have Special-Purpose Vehicle Companies...
Buy-to-let (BTL) mortgages are typically used by landlords who wish to purchase properties to rent out. Buy-to-let mortgages are subject to different rules than residential mortgages. Who can get a buy-to-let mortgage? Buying a buy-to-let mortgage is necessary if you intend to rent out your property. For many lenders, a buy-to-let mortgage is considered a higher risk, so you may need to meet certain...
The experience of investing in a rental property can be exciting, but can also be daunting. As a result, many investors prefer to invest in areas that are near their homes. Investing in your local area has its advantages, but exploring other parts of the country should also be considered before making any decisions. Investing Locally: Although the internet can tell you everything you need to know...
Property developers often sell properties still under construction in order to raise cash. These are called off-plan properties. Early-bird deals are commonly offered by developers to attract buyers, meaning buyers can pick up high-potential properties at a more reasonable (or more rewarding) price. Therefore, many investors look to benefit from off-plan property investments. The demand for such...
Prime Minister Liz Truss announced on Friday that Britain's corporation tax will be increased to 25% after sacking finance minister Kwasi Kwarteng. The Minister of Finance, Kwarteng, stated in a "mini-budget" on September 23 that corporate taxes would be frozen at 19%, reversing a rise to 25% announced by his predecessor, along with a number of other unfunded tax cuts that have since roiled the...
As a result of the fallout from the mini-budget, interest rates on new mortgages continued to rise this week. For first-time buyers and those looking to remortgage, the higher rates mean much higher monthly payments. What can you do about the situation? Mortgage lenders have now re-entered the market following the financial turmoil caused by the 23 September mini-budget. On Monday, NatWest relaunched...