First-time buyers are encountering increased financial pressure from rising mortgage rates and deposit requirements, according to analysis from Moneyfacts. The average new mortgage rate now stands at 5.59%, up from 4.90% in March, with low deposit buyers facing rates above 6%. The post First-time buyers face rising mortgage costs and deposits appeared first on...
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Mortgage approvals for house purchases increased to 58,200 in June 2026, up from 56,565 in May, according to Bank of England data. However, the figure remains below the six-month average of approximately 61,435, indicating continued caution in the housing market. The post Mortgage approvals rise in June but remain below average appeared first on...
More than 21,000 property owners in England and Wales have been identified as potentially facing pressure to sell their homes, according to AI-driven research by estate agent network EXP. London accounts for 13,105 of these homeowners, representing £7.1 billion in residential stock. The post AI platform identifies 21,000 homeowners under pressure to sell appeared first on...
The financial implications of the UK government's proposed commonhold reforms remain uncertain, despite widespread expectations that the new tenure system will reduce costs for flat owners. Housing Minister Matthew Pennycook referenced cases of escalating service charges when making the case for reform in April. The post Commonhold costs unclear as reform legislation progresses appeared first on...
Atom Bank has completed a £1.1 million commercial loan secured against a learning disabilities care facility in Hampshire, delivering the funds within five weeks. The borrower had purchased and developed the property into a six-bed learning disabilities unit approximately one year prior. The post Atom Bank delivers £1.1m care home loan in five weeks appeared first on...
Property complaints to The Property Ombudsman have increased by more than 50% in the first half of this year compared to 2024. The surge is driven by greater consumer awareness, regulatory reform and the increasing use of AI tools to prepare detailed submissions. The post Property complaints surge 50% as AI reshapes disputes appeared first on...
One in ten homebuyers in the UK are using funds originating overseas to finance all or part of their property purchase, according to data from client due diligence firm Thirdfort. India, the USA, Hong Kong, Italy and China are the five most common countries where money is coming from for UK property transactions. The post India leads overseas funds in UK property transactions appeared first on...
UK housing market data for May 2026 shows sales stock increased to 44 properties per branch while rental properties declined to 12.09 per branch. Prospective buyer registrations fell to 64 per branch, with 84% of properties selling below asking price. The post Sales stock rises while rental properties decline in May appeared first on...
Berkeley Group is offering to cover private school fees for buyers at its Trent Park development in Enfield, north London, as housebuilders deploy sales incentives amid weakening demand in the capital's property market. The post Berkeley Group offers school fee incentive at London site appeared first on...
Gary Stevenson, the economics commentator with 1.6 million YouTube subscribers, has announced he is stepping back from content creation citing burnout. The move comes as the UK prepares to implement the Mansion Tax on properties valued over £2 million from April 2028. The post Economics YouTuber Gary Stevenson steps back from content appeared first on...