Government invests heavily in flood alleviation
The government is investing over £860m during 2021-22 to protect homes and businesses from flooding and coastal erosion. It is part of a £5.2bn package to be spent over the next six years, the details of which are set out in the Flood and Coastal Erosion Investment Plan, published on 29 July. It will, the […]
Annexes: not just for Granny
Converting existing outbuildings into residential space used to be the preserve of those whose elderly parents had grown too frail or dependent to live alone – hence the term ‘Granny annex’. Now, however, annexes are coming in useful for a wide variety of purposes. So popular are they, in fact, that councils received approximately 9,000 […]
Best ways to add value to your home
Several months of double-digit house price growth has benefited homeowners looking to sell. However, if you want to boost the asking price of your home even further, it’s important to understand which projects will add the most value once you’ve factored in the cost of the job itself. The most valuable projects Loft conversions can […]
Young adults struggle to understand the mortgage process
It is hardly a secret that young people face significant barriers on their way to purchasing their first home. Quite apart from prohibitive house prices and stringent affordability criteria, a lack of understanding of how the mortgage process works is also holding them back. According to a survey1, 52% of adults aged 18–34 say they […]
COP26 – working together to tackle the climate crisis
The United Nation’s 26th Conference of the Parties – COP26 – is recognised as the most important climate change event since the 2015 Paris Agreement. Due to be held this November in Glasgow, the summit will bring together world leaders to build on the work left unfinished by COP25 and the goals set out in […]
Lockdown savings? Should you overpay on your mortgage?
Some families have found it easier to save more than normal during the pandemic, due to reduced outgoings on things like commuting, holidays and entertainment. If you have a mortgage, overpaying is one option worth considering. Benefits of overpaying In a low-rate environment, savings rates are likely to be lower than your mortgage rate, so […]
In the news – Home Finance
Interest in equity release More than half (57%) of homeowners have expressed interest in releasing equity from their property, according to the Equity Release Council. Across all ages, the most popular reason is to boost pension income and savings, followed by paying for care support at home. The total housing equity available to retirees and […]
Strongest seller’s market in ten years
Nearly seven in ten properties up for sale (68%) across the UK found a buyer in the year to June 2021, according to Rightmove data1 – the highest percentage in a decade. This is significantly higher than the average 53% of homes that found a buyer between 2012 and early 2020. Scotland leads the way […]
Housing and mortgage recovery to remain strong
Despite challenges presented by the pandemic, the housing and mortgage market is expected to remain robust, with gross mortgage lending projected to reach £285bn this year. The revised figure from the Intermediary Mortgage Lenders Association (IMLA) has been uplifted from a previous forecast of £283bn. The predictions follow a surge in mortgage lending, stimulated by […]
Do you know your home’s true worth?
Most people have a rough estimate in their head of how much they could sell their home for if they ever decided to move – but how accurate is it? In a survey1, nearly half (45%) of homeowners undervalued their property by £46,305 on average, while 25% overestimated by an average of £44,313, with under […]