March saw increase of £9.7 billion in mortgage debt, fears of ‘stagnant’ market to come
The rush to beat the SDLT deadline triggered a sharp incline in mortgage debt, with the latest Bank of England money and credit statistics revealing a £9.7 billion increase in March. Net mortgage approvals for house purchases, an indicator of future borrowing, decreased for the third consecutive month, with a fall of 800 to 64,300 […]
30 months for property lawyer who defrauded firm of £160,000
A solicitor who siphoned client funds to her own bank account during the course of property transactions has been given a 30 month prison sentence with further proceedings connected to the Proceeds of Crime Act ongoing. Fiona Parsons was an associate at Hereford firm Lambe Corner who, since September 2020, redirected monies on account for […]
Over 60s control over half of all UK owner-occupier housing wealth, under 35s have 6%
Owner-occupiers aged 60 and over now hold a record estimated £2.89 trillion of net housing wealth in homes – more than half of all owner-occupier wealth in the UK – according to the latest assessment of housing wealth from property firm Savills. Those over 75 control almost a quarter (23%), with under 35s owning just […]
‘Buyer demand weakens but affordability boost likely’ – Zoopla
Zoopla’s April House Price Index finds cooling demand and expanded supply, but notes that the relaxation of mortgage affordability rules could boost buying power by up to 20%. Although buyer demand has cooled since the stamp duty changes, it remains 1% higher than this time last year. The number of homes for sale has risen […]
Friday 30th May predicted to be busiest house moving day of the year
The moving comparison website Compare My Move expects Friday 30th May to be the busiest day to move house this year, with conveyancers ‘likely to be busier than usual’. An estimated 13,549 households moved on this date last year, amounting to 1.23% of all moves throughout the year. The data gathered by Compare My Move […]