Preparing to buy your first home can be exciting, but it might also be a milestone you’re feeling apprehensive about. Not only will you be making a large financial commitment, but the process of buying a property can seem complex and filled with jargon. Indeed, according to a survey from Halifax, more than half of under-35s admit they don’t feel …
Interest rates are expected to fall in 2025. If you’re a homeowner, it could present an opportunity to reduce your mortgage repayments and boost your finances overall. The Bank of England (BoE) increased the base interest rate when inflation was high as a way to slow down the rising cost of goods and services. Between December 2021 and August 2023, …
During the Autumn Budget, chancellor Rachel Reeves unveiled an increase to Stamp Duty that could affect buyers of second homes and property investors. The temporary higher thresholds for Stamp Duty are also set to end in 2025 and could lead to larger tax bills when buying property. Read on to find out what you need to know about the tax. …
Paying off your mortgage might come with a sense of relief and far more financial freedom. If reaching that milestone as soon as possible is one of your goals, there are ways to pay off your mortgage quicker. Being mortgage-free could open up doors for you. Without mortgage repayments, you might be able to travel more, retire sooner, or simply …
When you’re taking out a mortgage, it can be difficult to understand the terminology, which might seem like it’s filled with jargon and acronyms. Indeed, one such term “loan-to-value” or “LTV” can be confusing. If you’re unsure what LTV means, read on to find out and discover why it could be important if you’re searching for a mortgage. LTV is …
While the Bank of England (BoE) has started to cut its base interest rate, many homeowners with fixed-rate mortgages that end this year will still see their outgoings rise. If your mortgage deal comes to an end, read on to discover five sensible steps you might want to take. According to a report in the Times, around 153,000 mortgage deals …
Labour secured a majority in the general election, and their manifesto included several pledges that could affect the property market over the coming years. Read on to discover three pledges that could have an impact. Labour has pledged to build 1.5 million new homes Over the next five years, Labour has pledged to build 1.5 million new homes. Demand for …
Changing lifestyles and affordability challenges mean a growing number of people are buying their first home in their 50s and 60s. Stepping onto the property ladder later in life can still be rewarding and financially worthwhile, but it could present some additional obstacles to overcome. According to data from Legal & General, in the first three months of 2024, there …
Taking out a new mortgage is often a trigger for considering how you or your family would cope if you faced a financial shock. Yet, a report from Which? suggests that more than half of homeowners don’t have enough life insurance to protect them. If you took out life insurance, it would pay a lump sum to your beneficiaries if …
Rising interest rates have been big news over the last couple of years, with many mortgage holders seeing their outgoings increase. It’s not just individual families that have been affected, it’s having a wider impact on the property market too. To tackle high inflation the Bank of England (BoE) started increasing its base interest rate at the end of 2021. …
