GUIDANCE

Data from the Office of National Statistics shows that the average monthly mortgage repayment has surpassed £1,000 for the first time on record. In August, the typical monthly payment reached £1,002.27, indicating that, despite some cuts to Bank Rate over the last year, homeowners are still facing affordability challenges due to higher inflation. Less than a year ago, average repayments were below £950 and, in 2020, homeowners were paying an average of £680 per month. This sh

Millions of UK homeowners are choosing to renovate their existing home instead of moving. In England and Wales, about 1.7 million homes (one in 15 properties) have undergone significant renovation work. These homes are marked with ‘official improvement indicators’, showing that they have had major structural changes, such as an extension or loft conversion. Legally, Council Tax cannot be increased on homes with improvement indicators until the property is sold or there is a g

If you find it difficult to understand leasehold and freehold, you’re not alone. Research has found that leasehold is the UK’s most confusing property term, with the term generating over 160,000 Google searches in the last year. Freehold was second on the list, accounting for 114,000 searches. Most flats are sold as a leasehold, meaning that you own the property for a fixed period, but not the land it sits on. The lease will have a fixed term, usually between 90 and 999 years

How is the housing market faring so far in 2025? House prices update House price growth slowed to 2.1% in June, down 0.8% month-on-month. Performance varies significantly depending on the region, with Northern Ireland seeing the strongest growth of 9.7%. East Anglia was the weakest area, where house prices only increased by 1.1% annually. House prices are increasing at the fastest rate in areas with the most affordable properties. In regions where the average home is below £2

Data has found that most consumers prefer to seek professional advice before purchasing an insurance product. Nearly two-thirds (64%) of respondents said they would feel most comfortable taking out protection after consulting an adviser. When researching products, most people (59%) would use comparison sites, while 45% would visit the individual sites of insurance companies. The younger generations Interestingly, 25 to 34-year-olds were most likely to seek advice from an advi

In July, the Labour government’s permanent Mortgage Guarantee Scheme became available, after the previous iteration supported over 56,000 mortgage completions. The old scheme, which ran from April 2021 to March 2025, was launched by Boris Johnson’s Conservative government. It helped 56,389 people to access mortgages with smaller deposits, with 3,180 completions in Q1 of this year. The scheme was open to first-time buyers (FTBs), movers and remortgagers, but the vast majority

The number of UK homeowners with more than £300,000 left to repay on their mortgage has nearly doubled in the past seven years,...

Nearly two-thirds of UK homebuyers faced unexpected costs in the past year, according to recent research. First-time buyers were hit...

House prices crept up again in May, with Nationwide reporting annual growth of 3.5%, slightly above April’s 3.4%. Prices also rose 0.5%...

More than two million UK mortgage holders would be facing financial distress if their income suddenly stopped. That’s the key finding...

Bank of England (BoE) Governor Andrew Bailey is confident inflation will fade in 2025, which could mean as many as four interest rate...

In February, the Monetary Policy Committee (MPC) voted to reduce the Bank Rate to 4.5%. Despite this being the third reduction since...

The UK economy may be slowly recovering but many Brits are still feeling the financial pressure, with one in 10 homeowners struggling to...

Are you considering making mortgage overpayments? Here’s what to consider. If you can afford it, there are many advantages to overpaying...

Owners of electrical vehicles (EVs) are advised to check their motor and home insurance policies as they could fall into the double...