The private rental market in the UK should prove to be interesting in 2014 as the Help to Buy mortgages scheme is set to get more first time buyers into the market but a lack of new housing means supply remains tight. Reading between the lines it looks as if most experts expect the rental market to remain strong although there could, of course, be regional variations.
Everywhere you look in the news at the moment, the topic of interest rates is present in full flow. Whether it’s the latest statement from Bank of England governor Mark Carney, or an emphatic announcement made by one of the country’s leading economists about the consequences of a rise, the issue of interest rates is inevitably highlighted across all news forums on a daily basis.
Prospective property owners across the UK have been given a significant boost this week as a number of new and attractive help to buy mortgages have been placed on the market for them to choose from. The new deals are part of a price war that is emerging between some of the country’s largest mortgage providers as the final phase of the Help to Buy initiative comes into play.
Winchcombe is a small, unspoilt Cotswold town in the local authority district of Tewkesbury, in Gloucestershire, England.
Prime Minister David Cameron has moved to allay fears that the government’s flagship Help to Buy Scheme is risking a potential ‘housing bubble’ in the market, branding the scheme as a ‘complete success’.
Mr Cameron praised the impact the scheme has had in such a short space of time, and highlighted that over 700 houses had been purchased and another 6000 were experiencing some form of market interest since it begun earlier last year.
Over a hundred thousand people across the UK have utilised a payday loan to pay for their monthly housing costs, a study by the Charity Shelter has indicated.
Shelter conducted a study last year that gauged the impact of housing payments on 4,085 bill payers, and shockingly found that 2% had used payday loans to subsidise the costs in 2013.
2013 was an undeniably hot year for the British property market, with house prices and purchases rising to their highest levels in almost half a decade during the calendar year.
With the Bank of England set to refocus financing from their Funding for Lending scheme away from the property market this year, it is more than likely that acquiring a mortgage will become more difficult this year than the last.
This year estate and lettings agency Carson & Co celebrates its 40th anniversary. To mark this special occasion, the firm, which has an office in Festival Place, will be holding a special event. This will be held at its Camberley office on Thursday February 13, from 6.30pm to 8pm. Customers old and new as well as members of the public and local businesses are invited to attend and help the estate agents celebrate this milestone.
Do you have the most stylish pet in your street? This week has marked national dress up your pet day. As we have missed this remarkable occasion we thought we would look at how as a nation we spoil our pets in other ways. So the topic we thought best is ‘Posh Pet Homes’ whether its your Hamster, Cat or pampered Pooch what sort of house do they live in?
Number of new properties failing to keep pace with transactions, with prices in London expected to rise by another 6%.
Property prices are set to continue to increase briskly from 2013 – 2014 stats, with housing website Rightmove predicting that they could rise by as high as 8% in 2014.
The Bank of England has warned that people with large loan to value mortgages at the moment will struggle to maintain their loan repayments in upcoming years, if they do start to plan their finances in accordance to higher interest payments.
The Bank argued that if interest rates increase prematurely, wages will have to rise at a similar rate otherwise many will be faced with monthly repayments that they will simply be unable to meet.