With over 20 years of experience in the mortgage industry, Ste Froom has dedicated his career to helping people navigate the often complex journey of securing the right mortgage.
Millions of UK homeowners are choosing to renovate their existing home instead of moving. In England and Wales, about 1.7 million homes (one in 15 properties) have undergone significant renovation work. These homes are marked with ‘official improvement indicators’, showing that they have had major structural changes, such as an extension or loft conversion. Legally, […]
Research has revealed the best UK commuter towns, offering lower house prices whilst being in proximity to major cities. Remote working became the ‘new normal’ during the pandemic, but now three-quarters (76%) of employees are back working in the office at least three days a week. Many people can’t afford to live in London, where […]
Data shows that the number of people buying a home with a Lifetime ISA (known as LISA) increased in the 2024/25 tax year. According to the statistics, 82,750 account holders withdrew money from their LISA to buy their first home, which is about 30,500 more than in the previous tax year. Also, the average withdrawal […]
New data indicates that first-time buyers (FTBs) are taking out longer mortgages to help them move straight into their ‘forever home’. In August, a third (33.5%) of FTBs bought a semi-detached property, up 1.7% when compared with the same month in 2024. Meanwhile, only 19% purchased a flat, representing a 2.7% annual decline. The most […]
Data from the Office of National Statistics shows that the average monthly mortgage repayment has surpassed £1,000 for the first time on record. In August, the typical monthly payment reached £1,002.27, indicating that, despite some cuts to Bank Rate over the last year, homeowners are still facing affordability challenges due to higher inflation. Less than […]
HMRC has warned buyers to be cautious of tax agents making false claims about Stamp Duty Land Tax (SDLT). Some homeowners have been wrongly advised that properties in need of repair are uninhabitable, so are eligible for non-residential rates of SDLT. Rogue agents are suggesting that, for a fee, they can secure a tax refund […]
Bank Rate may be at its lowest level since March 2023, but mortgage rates seem to be on the rise again. In August, inflation was at 3.8% for the second month in a row, nearly double the Bank of England’s target of 2%. The Monetary Policy Committee therefore voted to keep Bank Rate at 4% […]
A survey of homeowners has highlighted the savvy behaviours of today’s first-time buyers (FTBs). The report found that over half of FTBs are opting to buy a studio flat or a home with one or two bedrooms. Also, 67% said they purchased a property in an area they were unfamiliar with due to affordability challenges […]
In July, the Labour government’s permanent Mortgage Guarantee Scheme became available, after the previous iteration supported over 56,000 mortgage completions. The old scheme, which ran from April 2021 to March 2025, was launched by Boris Johnson’s Conservative government. It helped 56,389 people to access mortgages with smaller deposits, with 3,180 completions in Q1 of this […]
Over 760,000 borrowers will be considering their mortgage options as their fixed-rate deals come to an end this year. Those with five-year deals about to expire may be anticipating sharp rises in their monthly bills; they will have fixed their mortgage in 2020, when interest rates were as low as 1.4%. Since then, rates have […]
Over the last year, house prices have increased 5.3 times faster than the rate of earnings. The average house price has increased by £10,087 to £271,403. However, the typical annual salary has only gone up by £1,921 to £40,334. The East of England and the East Midlands have experienced the most significant disparity, with house […]
If you find it difficult to understand leasehold and freehold, you’re not alone. Research has found that leasehold is the UK’s most confusing property term, with the term generating over 160,000 Google searches in the last year. Freehold was second on the list, accounting for 114,000 searches. Most flats are sold as a leasehold, meaning […]
It was a busy summer of news for the housing market – here’s what you need to know. In August, the Bank of England (BoE) reduced Bank Rate from 4.25% to 4%. This is the lowest level in two years and the fifth cut since August 2024. However, the decision wasn’t straightforward as the Monetary […]
By 2030, more than 104,000 Help to Buy accounts will reach the end of their interest-free period. The Help to Buy scheme ran for ten years, between 2013 and 2023. Buyers of new builds were lent up to 20% (or up to 40% in London) of the property’s value as an equity loan. The loan […]
The housing market seems to be regaining momentum, as sales are being agreed at the fastest rate in four years. The number of sales agreed was up 6% annually in June, which coincided with the stock of new property listings going up by 14%. This indicates that buyers are regaining confidence, with demand rising by […]
Data shows that remortgage activity hit a 15-month high in May. There were 41,500 remortgage approvals, up 6,200 on April and the highest level since February 2024. There was also a rise in new mortgages for the first time since December, with 63,000 approvals. Meanwhile, gross mortgage lending was £20.4bn in May. Jason Tebb, President […]
House prices update: House price growth slowed to 2.1% in June, down 0.8% month-on-month. Performance varies significantly depending on the region, with Northern Ireland seeing the strongest growth of 9.7%. East Anglia was the weakest area, where house prices only increased by 1.1% annually. House prices are increasing at the fastest rate in areas with […]
The number of UK homeowners with more than £300,000 left to repay on their mortgage has nearly doubled in the past seven years, highlighting the growing financial strain many are facing, amid high property prices and rising interest rates. New analysis of the Financial Conduct Authority’s (FCA) Financial Lives Survey reveals that 9% of mortgage […]
Rural house prices are still rising faster than those in towns and cities, according to Nationwide. While the pandemic-driven rush for countryside homes has eased, demand for space continues to support stronger growth in rural areas. Most home movers over the past five years stayed in similar locations, with 63% moving within the same type […]
Almost half a million homeowners coming off five-year fixed rate mortgage deals taken out in 2020 could see a major spike in their monthly mortgage repayments. These borrowers have been paying an average interest rate of just 2.11%. However, if they revert to their lender’s standard variable rate (currently averaging 7.13%) when their deal comes […]
Nearly two-thirds of UK homebuyers faced unexpected costs in the past year, according to recent research. First-time buyers were hit hardest, with 66% encountering surprise expenses, compared to 55% of movers. The survey of over 1,000 buyers found costs such as legal fees, repairs and one-off charges often disrupted the process, with 27% naming these […]
House prices crept up again in May, with Nationwide reporting annual growth of 3.5%, slightly above April’s 3.4%. Prices also rose 0.5% month on month, once seasonal factors were taken into account. There was a surge in property transactions in March, as buyers rushed to complete purchases ahead of higher Stamp Duty charges. The number […]
The average cost of moving home in England is now £51,826, the highest in the UK, according to Yopa’s latest Housing Market Affordability Review. It shows the total has risen nearly 11% in a year, driven largely by changes to Stamp Duty. Stamp Duty alone now costs £4,528 on average, more than triple last year’s […]
According to Moneyfacts, the number of low-deposit mortgages available at 90% and 95% loan-to-value (LTV) has reached its highest level since 2008, with 1,287 products on offer at the time of writing. In April, there were over 400 deals at 95% LTV and over 800 deals at 90% LTV, signalling growing lending support for buyers […]
Affordability for first-time buyers (FTBs) reached its most favourable level in ten years last year, despite house price rises over the same period. New analysis from estate agents Yopa shows the average price paid for a first home in the UK has increased 63% since 2014. However, earnings growth relative to income means homes are […]
Buying a home is now significantly cheaper than renting across most of Great Britain, according to research from property website Zoopla. The average monthly mortgage payment for first-time buyers (FTBs)stands at £1,038, which is 20% lower than the average monthly rent of £1,248. This analysis assumes buyers have a 20% deposit, which works out as […]
UK housing costs reached a record £217bn in 2024, according to estate agent Savills. This is a £41.2bn rise over two years and accounts for 60% of the decade’s increase. Mortgaged owner-occupiers paid £110bn in total, with the average annual cost now £12,754, up £2,829 since 2022. The surge was largely driven by a 32% […]
The cost of moving home in England has jumped 10.9% over the past year, according to new research from estate agents Yopa. The average mover now faces a total bill of £51,826, with a 15% mortgage deposit costing £43,585, making up the largest share. However, changes to Stamp Duty relief thresholds have also driven costs […]
Fixer-uppers are the most popular type of home among buyers this year*. Analysis has found that nearly half (46%) of fixer-upper homes on the market are under offer or have sold subject to contract. Meanwhile, 37% of period properties on the market have found a buyer and modern homes are the least popular, with only […]
Two-year fixed mortgages could become cheaper than five-year deals in 2025*. Typically, longer fixed mortgage deals are more expensive than two-year deals due to uncertainty surrounding interest rates in the long-term. However, since Liz Truss’ Mini Budget in 2022, five-year fixed mortgages have been the cheaper option; interest rates have been higher, so there has […]
