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|Nationwide House Price Index (Seasonally unadjusted)||244,229||248,857||1.89|
|Halifax House Price Index (Seasonally adjusted)||261,165||262,954||0.69|
|Rightmove House Price Index||338,447||337,371||(0.32)|
Propertymark states that the government is unlikely to meet the 300,000 houses per year target until 2028. For 2020 the total new build completions amount to 220,600 which makes the target not achievable. Propertymark also stated the construction sector was unable to meet the UK housing demand due to the heightened cost of materials and reduced workforce due to Brexit.
Homes England has replaced their panel system with a Dynamic Purchasing System where SME’s and housebuilders can join the list of preferred developers anytime. This initiative is expected to increase the housing supply.
First Time Buyers are able to apply for the Help to Buy Equity scheme for new build properties. As per Gov.uk publications 15,341 properties with a total equity loan of £1,158M were bought with a HTB Equity loan which is an increase of 61% from the same period 2020.find me a mortgage
Third First Homes development site is announced in Newton Aycliffe in the North of England following sites in Bolsover, Derbyshire and Cannock and Staffordshire. High street Lenders such as Lloyds and Nationwide are offering high LTV mortgages against First Home schemes.
The government also announced that homebuilders can bid a share of the £150M package to support the scheme.
Contracts supplied by Countryside Properties have removed the clauses doubling ground rents. Where countryside has sold the freehold and cannot remove clauses itself, have committed to removing at no further cost.
MLAR quarterly release for September reports an outstanding residential mortgage balance of £1,584.1Bn for Quarter 2. This is an increase of 4.6% than a year earlier. The value of lending to be agreed on in the coming months is at £85.6Bn. The share of mortgages advanced exceeding 90% LTV represents 2%. The share for residential purchases was 66.4% and residential remortgages were 16.6%.
As per the research conducted by NerdWallet with a poll of 1,222 UK adults aged between 18-54, only 15% believes that the mortgage guarantee scheme could apply to them. Even though there are many deals available in the market the lender's strict criteria restrict borrowers from applying for this. This leads to the scheme being underutilized.
ONS reports the rents paid by tenants in the UK rose by 1.3% in the 12 months to August 2021 including an increase of 1.2% in England, 1.2% in Wales and 1.6% in Scotland. ONS also reports the highest annual growth of 2.7% in the East Midlands and the lowest annual growth of -0.4% in London.Check Affordability
At WIS we look at the whole market and select the most suitable deal based on client priorities and circumstances. We discuss the individual circumstances with Business Development Managers when it is required and strive to obtain the most suitable deals.
As a mortgage is secured against your home or property, it may be repossessed if you do not keep up the mortgage repayments.