Online mortgage broker Mojo Mortgages analysed their internal mortgage data and uncovered that the average first-time buyer in the UK is 33 years and 8 months old when they purchase their first home.
With an average mortgage term of 30 years, this means that the average first-time buyer won't pay off their mortgages until they're 63 years and 8 months old.
Mortgage lending up in 2022, but have we reached the peak?
The latest mortgage market analysis by specialist property lending experts, Octane Capital , estimates that £77.5bn in residential loans was lent to individuals in the final quarter of 2022, totalling £318.3bn for the year - a 0.8% increase on 2021 despite the turbulence seen in the latter stages of 2022 due to increasing...
“The latest inflation figures suggest that the Bank of England’s aggressive tactics are starting to yield results, with the level of inflation falling marginally between October and November.
With this in mind, some may feel that a further festive hike ahead of the Christmas break is perhaps a tad Scrooge like. However, the...
The latest market analysis from property purchasing specialist, House Buyer Bureau , reveals that since the Bank of England started raising interest rates at the end of 2021, the number of homes being repossessed by money lenders has significantly decreased, bucking the expected trend that more and more people would lose their homes as mortgage payments go up.
More women being flagged during AML compliance checks in property industry
Credas Technologies, the leading anti-money laundering checks provider, has revealed that the number of female homebuyers and sellers has surged in recent years, as they now account for over half of all AML market activity seen across the industry on an annual basis.
It’s been recently reported that the Queen will not fully return to Buckingham Palace and has decided to make Windsor Castle her permanent residence as she joins many of us over the last two years in the working from home trend.
While many London homeowners also chose to sell up for greener pastures during the pandemic, this doesn’t mean that...
Research from national UK estate agent, Keller Williams UK , has found that the ability to secure a mortgage with a five per cent deposit should reduce the time to save by over two years for some buyers across the UK property market.
Keller Williams UK analysed the current average house price across each area of the market, what this would require for both a 15% and 5% deposit, and...
Research by the leading mortgage broker for global high-net-worths, Enness Global Mortgages , has shown that mortgages have fuelled 70% of property transactions across Great Britain since the market reopened back in May of last year, after initial lockdown restrictions were imposed.
Enness analysed market data on the number of mortgage financed sales as a percentage of all sales in...
The fast approaching end of the SDLT holiday in March means that residential property lawyers are under even more pressure to complete purchases quickly.
They will be pleased to hear that major lenders Skipton Building Society and NatWest will now accept Search Insurance in place of Local Authority Searches. NatWest will temporarily accept Search Insurance for new purchases and...
