The Land Registry currently estimates that the average house in England and Wales cost somewhere in the region of £183,896. Halifax, whose estimate includes Scotland and Northern Ireland, puts the figure somewhat higher at £198,500.
While these estimates differ by roughly £15,000 which is a substantial amount the message both indexes give is the same; House […]

It is becoming more and more difficult to find a good mortgage deal, especially since lenders are increasingly tightening their belts in the wake of the global credit crunch.
Banks are getting rid of deals as fears that the UK could be heading towards its first property crash in 17 years begin to mount. The number […]

Two set of figures out recently show that an increasing amount of first time buyers are facing a difficult path ahead as the gap between earnings and house prices contines to grow.
Mortgage repayments have consumed the greatest proportion of take home pay for the last 17 years. The lowest earners as well as first time […]

First time buyers are at the highest risk of negative equity as a result of a massive rise in the number of 100% mortgages last year.
The Halifax Building Society has said that in March house prices fell by 2.5%. This leaves buyers who took out 100% loans last year in danger of owning a house […]

Now is not a good time to be a first time buyer if you are looking to secure a mortgage. Lenders have scaled back on their 100% mortgages – mortgages where no deposit is required – and house prices are showing signs of a serious slow down. If you are looking to get a good […]

As homebuyers face a market with soaring house prices as well as increased mortgage prices is it worth forgetting about purchasing a house and opting to rent a home instead?
The average house price is currently close to £200,000, base interest rates are at 5.25% and banks are turning away borrowers in droves. With these kind […]

Banks have introduced new restrictions on lending to borrowers who they consider to be high risk. Because of these new restrictions it is expected that in the next few months the number of people seeing their home loan application rejected could go through the roof.
New figures recently released show that almost a quarter of all […]

The gap between how much people earn and the cost of buying a new house has been highlighted with a report out revealing that the average house now costs well over the five times the average first time buyer’s income. Meanwhile the tyical home loan lender only offers four times salary.
The study released by the […]

Research shows that over the last four years the size of the average mortgage that is needed by a first-time buyer has almost doubled.
According to figures from Abbey, new homeowners now need to borrow an average of £130,000 to get on to the property ladder, when just four years ago they were only borrowing an […]

First time buyers are finding it more and more difficult to gain access to the property ladder and recent events mean that it could get even harder in the near future.
There is a good chance that mortgage providers will tighten up lending criteria and demand larger deposits if the turmoil in the US housing market […]