Budgeting beyond the deposit for first-time buyers According to a recent report from Skipton Building Society, the first step onto the property ladder is the hardest. There’s no question that it can all seem very daunting for first-time buyers who want to purchase their first home. For those saving hard to get a deposit together, it [...]
First-time buyer benefits - what schemes are available? Any first-time buyer trying to save up for a deposit to purchase their first home may feel daunted by how expensive the housing market is. There is no doubt that it is much more difficult to get your foot onto the property ladder than ever before. In 2023, [...]
A first-time buyer’s guide to mortgage rates A glance at the news over the last 12 months or so would suggest that mortgage rates are a very hot topic indeed. For the last 14 years, mortgage rates - the interest rate charged on the money borrowed to purchase a property - have tended to be low, [...]
Why is it harder for first-time buyers to buy in 2025? For first-time buyers in 2025, the property market is in stark contrast to when previous generations bought their first homes. The average first-time buyer in 1960 paid a deposit of just £595 (roughly £12,738 today) compared to an average of £53,424 in 2024. A recent [...]
The cost of moving home Buying a home comes with extra costs and fees you need to be aware of – from securing your mortgage to booking the removal van. In 2024, the average cost of buying or moving house is estimated around £10,255. These costs can be higher or lower depending on where you live, [...]
Credit reports look at your borrowing history and how you’ve managed to pay back any money you’ve borrowed in the past. They’re put together by the three main credit reference agencies in the UK; TransUnion, Equifax and Experian. Every time you borrow and repay money, your credit score builds up in the background based on your [...]
Most of us will borrow money to buy a property at some point in our lives. Whether you’re buying your first home, buying to let or remortgaging, it’s a big commitment. Here are some key facts to help you feel more confident about your financial decisions. The different types of mortgages The types of mortgages vary, [...]
If you want to stay on top of your mortgage repayments and ensure you’re getting the right deal for your circumstances then remortgaging is one of the most important financial decisions you can make. But is it best to change to a new mortgage product with your current lender via a product transfer or look to [...]
Banks and Building Societies have been encouraged by Chancellor Jeremy Hunt to offer more flexibility if you are finding it difficult to make mortgage payments. Mortgage lenders, the FCA, the Government as well as organisations such as UK Finance and the Building Societies Association have come together to provide you with a new Charter to give [...]
Worried about mortgage lenders withdrawing their products and deals? The mortgage market is going through another unpredictable time with mortgage lenders withdrawing mortgage deals and increasing rates in a reaction to the recent news that inflation is slowing at a less- -than-expected rate. Do you need to remortgage now? If you’re due to remortgage now, don’t [...]
