The average price of a UK home fell for the first time this year, down 1.3% in August to £365,173, according to Rightmove, largely in line with the seasonal lull with rising interest rates yet to bite into market spending. The fall in house prices is “on a par with…...
How the cost of living crisis impacts mortgage brokers searches in March
The cost of living crisis is already impacting brokers’ searches with ‘defaults’ and ‘missed payments’ featuring prominently in March, according to the latest data from Knowledge Bank’s criteria tracker. With energy costs increasing significantly in April, Knowledge Bank operations director Matthew Corker says: “The volume of searches for both defaults…...
Rate rise could ‘put brakes’ on housing boom
The Bank of England’s decision to raise the base rate from 0.25% to 0.5% could put the brakes on a runaway housing market, which has seen prices boom over the past 18-months. This is the first back-to-back rate rise since 2004, and industry experts say that higher mortgage costs, coupled…...
Property listings fall 18% in final quarter of 2021: Landmark
Property listings fell 18% in the final three months of last year as weak supply “continues to be the dominant pressure on activity levels in the England and Wales”, according to Landmark Information Group. Listings were down 7% in October and 6% in December, says the data group’s Property Trends…...
Brokers should contact clients over rise in home working: Ceta Insurance
The rise in working from home has forged an opportunity for brokers to contact their clients to ensure they are properly insured, says Ceta Insurance. The firm says that home working over the pandemic increased from 27% in 2019 to 37% in 2020, with 57% of workers saying they prefer…...
Green mortgage plan could ‘devastate’ value of older homes
A government push for mortgage lenders to reach an average energy performance certificate rating of band C across their mortgage portfolio by 2030, could prompt a fall in the value of older family homes, critics have warned. In its Heat and Buildings Strategy, published today, the government reiterated proposals that…...
Asking for flexible work hours could be closer than you think
A consultation is to be released across the UK within the next week regarding flexible work. The plan would allow all UK employees to request a flexible working arrangement from their first day at a new employer. At the moment, workers have to wait until they have been in their…...
Asking prices dip for the first time this year: Rightmove
By contrast, demand for first-time buyer and second-stepper homes remained strong and asking prices for these mass-market properties reached new heights . The average listing price for first-time buyer homes rose by 0.6% compared to last month and by 3.7% year on year to £208,714 in August. For second-stepper homes…...
Two-thirds of brokers adopt hybrid working as pandemic restrictions ease: TMA
The broker network says that around 64% of advisors will carry out this method of working, which highlights “the necessity of effective tech in our new environments” This adds on to the 9% of brokers who say they plan to continue working entirely remotely “for the foreseeable future”, while the…...
The 4-letter-word in business…luck
Many successful people acknowledge that luck is a factor in business, including Sir Richard Branson. In his autobiography, Losing My Virginity, he says: "To be successful, you have to be out there; you have to hit the ground running. And if you have a good team around you - and more than a fair share…...