020 7538 0102
2nd March 2018
Estate agents have warned that stamp duty changes are slowing down the first-time buyer property market. Mark Hayward, chief executive of the National Association of Estate Agents, said many people are now choosing to wait and save for a larger property, in order to reduce their tax bill and maximize on the new stamp duty exemption: "They're skipping the 'first time home' and moving straight on to their second homes, to avoid growing out of their property in four or five years.” The start of 2018 saw sales for the group fall by 5% from December.
The Daily Telegraph (27/02/2018)
2nd March 2018
The percentage of first-time buyers getting their mortgage applications approved via brokers shot up at the end of 2017, following improved access to mortgage finance, according to the Intermediary Mortgage Lenders Association. Mortgage approvals for debut homeowners lifted from 53% at the end of 2016 to 74% in the final quarter of last year.
Daily Mail
23rd February 2018
Newham Council has given unanimous approval for a 4,000-home development at Stephenson Street, Canning Town, on the 29-acre former Parcelforce site. The Berkeley Homes project will be one of the densest housebuilding schemes in the capital, with 356 homes per two-and-a-half acres – well above the 260 maximum recommended in the Mayor’s London Plan. The first phase of the development will have 1,020 homes in towers up to 377ft tall, with a further 2,790 to be added later. Around 2,500 of the properties will be available for private sale or rent.
Evening Standard (21/02.2018)
23rd February 2018
Lenders are introducing a raft of deals and incentives to lure first-time buyers, as buy-to-let lending drops. Research by Moneyfacts also shows that first-time-buyer interest rates are getting lower. David Hollingworth of L&C Mortgages, says: “You can’t ignore that first-time buyers have benefited from reduced competition from landlords. Lenders will look at where there is demand”.
The Times (16/02.2018)
23rd February 2018
A survey from Which? mortgage advisers suggests almost a fifth of first-time buyers have sold possessions to raise funds for a deposit. Meanwhile, the survey also shows 37% worked overtime and 22% avoided rent by moving back in or continuing to live with their parents. Which? principal mortgage adviser David Blake, commenting on the survey's findings, noted the "various options out there for first-time buyers, from Help to Buy ISAs to equity loans, and even shared ownership."
Evening Standard (22/02/2018)
23rd February 2018
Consumers expecting another jump in the Bank of England's interest rates are rushing to lock in fixed-rate mortgages, new data reveals. The proportion of customers searching for fixed-rate mortgages on data firm Experian's comparison site arm rose to over 67.4% in February, compared to 60.3% in December. The Bank this month said it expects to hike rates in May. Demand for fixed rates also jumped to 67.1% in November after the first rate hike.
City AM (19/02/2018)