The bank of England does not believe in a free market

The Bank of England is expected to signal a clampdown on buy-to-let lending when it reports on the mortgage market for landlords. The Bank has been watching the buy-to-let market for some time and is concerned about the amount of money pumped into the market and its vulnerability to even a small rise in borrowing costs. Threadneedle Street’s regulatory arm, the Prudential Regulation Authority, will on Tuesday publish a report on underwriting standards for buy-to-let mortgage lenders alongside scenarios for testing the read more

Purchasing a house 1984 vs 2016

Baby boomer vs Gen Y: home buying in 1982 compared to 2016 Owning a home is more important to young adults than establishing a successful career or even finding the right partner, says new research. Yet the likelihood of being able to achieve the goal of property ownership has never been lower. Those aged 18-40 put home ownership ahead of all other milestones in life, including educational achievements, career success, marrying or having children. The research, by mutual lender Yorkshire Building Society, also found read more

Nearly half aspiring homeowners aged 35 to 40 in ‘crisis’ over homeownership

Research showed almost half of Britons who haven't bought their own home by their mid-thirties doubt it will ever happen. With first-time buyers increasingly squeezed out of the housing market, research from Yorkshire Building Society found that 49% of non-home owners aged 35 to 40 who aspire to own a home say it is ‘unlikely’ or ‘very unlikely’ that they will ever own a property. However, the survey showed more than two-thirds of young adults aged 18 to 40 felt that owning their own home was crucial to success in read more

Stamp Duty extended !!! Will Scotland do the same?

The government has extended the period before the higher stamp duty rate will apply to second homes, and the time in which homeowners can claim a refund, from 18 months to 36 months. This will give those who have an overlap between two properties or are "moving in difficult circumstances" longer to dispose of their main residence. In the Budget documents, the government confirmed that there will be no exemption from the higher rates for significant investors, and that higher rates will apply equally to purchases read more

We need a government that will stop doing this

Mortgages for homeowners and buy-to-let landlords could become more expensive under new rules being imposed by international regulators, an industry trade body has warned. The Council of Mortgage Lenders (CML) said the global rules were likely to have “unintended and negative consequences” for buy-to-let borrowers and those borrowing to finance the purchase of their own home. It warned that the Basel committee on banking supervision – which sets rules to be adopted by national banking regulators – could require read more