News

Green mortgages

Green mortgages – what is it and is it worth it? A green mortgage is a label used for mortgages that offer preferential terms for properties that are energy-efficient, for example, achieve energy efficiency rating (EPC) of A or B. Those deals have been around for a few years but in recent months we have seen an increase in the numbers of lenders offering such deals. Green mortgages are most… Read More »Green mortgages

First Home Scheme

First Homes Scheme

The government has announced the trial of a new first-time buyer initiative called First Homes, where the new property will be available to purchase at a discount of up to 50%. First Homes is a part of the government’s affordable homes pledge and will be rolled out in England from the 28th of June, after a trial taking place in Derbyshire. What is the First Homes Scheme? The First Home… Read More »First Homes Scheme

Mortgages during pandemic

Getting a mortgage during the Covid-19

Property and mortgages during the pandemic. I get a lot of questions from clients about the effects the pandemic and the lockdown have on the property market and mortgage applications. The property market is officially open but there are few things to remember when thinking of getting a mortgage. Many lenders have tightened their lending criteria and the changes sometimes happened with a day notice. There are significant delays in… Read More »Getting a mortgage during the Covid-19

Help to Buy

Help to Buy Scheme

Affordable home ownership – equity loan The Help to Buy Scheme allows you to first-time buyers and home-movers purchase a new-build property with as little as a 5% cash deposit. To help you arrange a mortgage, the government would lend another 20% (or 40% in London) in a form of an equity loan. The rest of the purchase price you will pay via mortgage arranged on the open market. Many lenders allow first-time buyers to arrange their… Read More »Help to Buy Scheme

Mortgage during pandemic

Stamp duty holidays

Stamp duty holidays extended. The Chancellor, Rushi Sunak, confirmed on Wednesday, the 8th of July, that new temporary rules will be placed to boost the property market. He announced that the Stamp Duty Land Tax will be suspended until 30th of June 2021 for properties up to £500,000 in value, with immediate effect. The tax holidays will also apply to landlords looking to expand their property portfolio or incorporate as letting… Read More »Stamp duty holidays

BOE Rate Cut

Bank of England base rate cut

Following the announcement of the Bank of England to cut the rate to 0.25% from 0.75%, and than from 0.25% to 0.10% a few days later, there were questions about what it means for mortgages and savings. When it comes to the mortgages, you will only benefit from the cut if you are on Standard Variable Rate or on tracker mortgages. There are very few tracker mortgages around nowadays but… Read More »Bank of England base rate cut