Property and Mortgage News
- House prices surged at their fastest rate in 16 years last month to an all-time high as the stamp duty holiday unleashed a “barnstorming” rush of buyers. The dramatic increase in activity has been particularly strong in London where more buyers benefit from the maximum £15,000 saving from the stamp duty holiday.
- Those wanting to take advantage of the current stamp duty holiday to buy a new home or a buy-to-let investment will find that the number of mortgages approved is now back to levels seen before the Coronavirus lockdown. Data from the Bank of England shows that the number of house purchase mortgages approved in July 2020 was 66,281 an increase of 66% on the approvals in June 2020 and only 1% behind July 2019. However, those needing a mortgage at 90% loan-to-value (LTV) or above will struggle, as lenders have pulled many of the mortgages available at this tier and increased rates.
I can guarantee Decision in Principle instantly without this affecting the buyers credit rating.
Please contact me to arrnage a call to discuss in detail.
Best wishes,
Nadia Khan
