Mortgage and Insurance Blog

Date - 08th January 2020

Written by Richard Johnson

 

Hello again readers

I hope you are all keeping well – and I wish you all a happy and prosperous 2020.

In the interest rate world, Leeds, Kensington, Skipton, BMS, TSB, Accord, Coventry, Nottingham, Halifax, West Bromwich and Hinkley and Rugby have all announced recent changes.

In criteria news, Barclays announce they will no longer request a tenancy agreement for any Barclays Buy to Let or Residential mortgage application. They will instead use bank statements to show any rental payments.

Platform have announced they have changed their policy regarding Buy-to-Let mortgages and will now accept the letting of a property to tenants in receipt of DSS Benefits.

Halifax will now carry out an automated credit check on all applicants using three bureaus; Experian, TransUnion (formally known as Call Credit) and additionally Equifax.

 

In wider news, Buyer demand for homes is slightly higher than last year, with an average of 320 house buyers registered per branch, the National Association of Estate Agents (NAEA) Propertymark has revealed. This is up from 318 throughout 2018, and by 16 per cent from the 275 per branch seen a decade ago. The rise in demand hasn’t been matched by a rise in supply, with the typical number of properties available to buy per branch dropping from 39 last year to 38 in 2019. August was the high point, when branches had an average of 44 available to buy. However, this remains sharply down on the 65 seen on average in 2009.

And in a new report, U.K. home prices have tripled since the turn of the millennium, according to data from mortgage lender Halifax, which runs the country’s oldest house price index.

The average sale price fell just under £280,000 (US$371,575) in November, three times higher than in November 1999, when the average British home cost £91,199.  But the rising cost of housing was far from evenly spread, with parts of London experiencing fivefold price increases over the last two decades.

Overall, the average London home cost nearly £376,000 more in 2019 than in 1999, an increase of 239%, according to Halifax. The average price in London hit £533,437 in November of this year, compared to just £157,453 at the end of 1999.

I hope you found this post of interest and feel free to get in touch with me if you need any help with your mortgage or insurance needs,

 

All the very best

 

Richard Johnson

Cert CII (MP), CeCM, AdvCemap, CeRGI

Mortgage and Insurance Consultant.

Mobile Phone ; 07881802962

Office : 0208 245 8464 direct dial

Email : richard@rjmortgagefinance.co.uk

 

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Hello again readers

I hope you are all keeping well – and I wish you all a happy and prosperous 2020.

In the interest rate world, Leeds, Kensington, Skipton, BMS, TSB, Accord, Coventry, Nottingham, Halifax, West Bromwich and Hinkley and Rugby have all announced recent changes.

In criteria news, Barclays announce they will no longer request a tenancy agreement for any Barclays Buy to Let or Residential mortgage application. They will instead use bank statements to show any rental payments.

Platform have announced they have changed their policy regarding Buy-to-Let mortgages and will now accept the letting of a property to tenants in receipt of DSS Benefits.

Halifax will now carry out an automated credit check on all applicants using three bureaus; Experian, TransUnion (formally known as Call Credit) and additionally Equifax.

 

In wider news, Buyer demand for homes is slightly higher than last year, with an average of 320 house buyers registered per branch, the National Association of Estate Agents (NAEA) Propertymark has revealed. This is up from 318 throughout 2018, and by 16 per cent from the 275 per branch seen a decade ago. The rise in demand hasn’t been matched by a rise in supply, with the typical number of properties available to buy per branch dropping from 39 last year to 38 in 2019. August was the high point, when branches had an average of 44 available to buy. However, this remains sharply down on the 65 seen on average in 2009.

And in a new report, U.K. home prices have tripled since the turn of the millennium, according to data from mortgage lender Halifax, which runs the country’s oldest house price index.

The average sale price fell just under £280,000 (US$371,575) in November, three times higher than in November 1999, when the average British home cost £91,199.  But the rising cost of housing was far from evenly spread, with parts of London experiencing fivefold price increases over the last two decades.

Overall, the average London home cost nearly £376,000 more in 2019 than in 1999, an increase of 239%, according to Halifax. The average price in London hit £533,437 in November of this year, compared to just £157,453 at the end of 1999.

I hope you found this post of interest and feel free to get in touch with me if you need any help with your mortgage or insurance needs,