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https://www.bbc.co.uk/news/business-55736160 In early September last year, there were only 44 mortgage products available for those able to offer a 10% deposit. At the same time, first-time buyers putting money aside for a deposit were faced with pressures of poor savings rates and rising house prices. That choice has now risen to 197 products, according to the Moneyfacts figures, with some big lenders returning in recent weeks.

https://www.theguardian.com/money/2018/nov/24/mortgage-deal-income-darlington-clydesdale this week saw the launch of a mortgage that lets people borrow up to six times their income.

https://www.theguardian.com/money/2018/oct/16/taxes-buy-to-let-landlords-rents-generation-rent-buyers Warnings by landlords that taxes on buy-to-letwould cripple the property market, driving down supply and pushing up rents, have turned out to be entirely hollow, according to research by campaign group Generation Rent. It found that since the “bombshell” introduction of taxes on buy-to-let landlords in George Osborne’s 2015 budget, rents have fallen in real terms.

www.theguardian.com/politics/2018/apr/02/pay-all-uk-25-year-olds-a-10000-inheritance-says-thinktank Hand money out. Ignore the student loan, give them cash so they can borrow even more. Is there any sanity?

http://www.bbc.co.uk/news/business-43043294 More first-time buyers took out mortgages in 2017 than in any year since the financial crisis. There were 365,000 first-time buyers in the UK, the highest number since 2006 and an increase of 7.4% compared with 2016, UK Finance said. Yet this growth is expected to cool in 2018, the lenders' trade body said. The buy-to-let market was also "less buoyant", it said. Separate official data shows UK house prices rose by 5.2% in 2017. The figures, from the Office for National Statistics (ONS), showed that the 4.8% rise in the price of properties bought by first-time buyers was a slower rise than elsewhere in the market. The average first-time buyer taking out a mortgage was aged 30 and had an annual household income - either one individual or jointly as a couple - of £41,000, UK Finance said. "Although the [mortgage] market remains competitive [for first-time buyers], there is no room for complacency, with weaker December figures consistent with our market forecast of subdued growth this year," said Paul Smee, head of mortgages at UK Finance. The figures show that the average home mover was aged 39 and had an annual income of £55,000. However, the numbers of those moving dropped by 3% in 2017 compared with the previous year. The number of new buy-to-let mortgages dropped by 17% year-on-year, while the number of landlords remortgaging was down by nearly 12%. Landlords have faced more stringent tax demands. The average home in the UK costs £226,756, according to the ONS. This value rose faster than prices in general, as measured by inflation, in 2017. Accountancy firm PwC said that the figures showed UK house prices had increased by 22% more than earnings between 2012 and 2017. "This shows that house price growth has outpaced average earnings growth for the fifth consecutive year, further ratcheting up the affordability challenge," said Richard Snook, senior economist at PwC. However, the picture is very mixed across the country. London, where the average property still costs significantly more than elsewhere, at £484,173, saw the slowest annual house price growth of 2.5%, according to the ONS. This slowdown was showing some signs of shifting to the South East commuter belt, where house prices dropped by 0.5% in December compared with November. Scotland saw the fastest year-on-year rise in prices, up 7.7%, taking the average house price to £149,000. Another set of ONS data shows that rent paid by tenants in Britain to private landlords rose by 1.1% in the year to January 2018, down from a 1.2% annual rise the previous month.

http://www.marketoracle.co.uk/Article60558.html The latest research from moneyfacts.co.uk shows that while the average two-year fixed mortgage rate has experienced an increase at all loan-to-values (LTVs) in the past month, rates at 95% LTV have been the hardest hit, showing a 0.10% increase from September compared to a 0.03% increase in the average rate at 60% LTV. AP rates rising following intense speculation about an imminent base rate rise, many providers are starting to factor in the extra cost. At 95% LTV, providers have an added element of risk if base rate does go up, as the probability of borrowers defaulting on their mortgage could increase. This needs to be factored in. “When comparing the increases at 60% LTV to those at 95% LTV, the difference is stark. Providers are looking to remain competitive to those remortgaging and protect their mortgage books in the event of a rate rise, which is why rate rises at lower LTVs are being kept to a minimum. “The combination of rates rising now and a potential base rate rise around the corner could see first-time buyers who’ve managed to get a deposit together having to deal with higher monthly repayments, which could eat further into their income, causing them struggle. Some borrowers turn to lengthening their mortgage term to combat these higher repayments, but this will cost them more in the long run. “First-time buyers looking for a mortgage should shop around to get the best possible deal. Anyone considering getting onto the ladder in the future should try not to panic and seek advice from a financial adviser if they are unsure about their options.” www.moneyfacts.co.uk - The Money Search Engine

Hi everyone, I've come here looking for some opinions on whether it's a sensible time to buy a house. The house in question is a 3 bed terrace just out of London for £400k. A similar one was sold within a day after an open day and 6 offers, went for over asking price. So I immediately offered asking price on this one and got it accepted! But now I'm worried about a house price crash and found this forum. I'd be living in it for at least 10 years. With £80k deposit my mortgage would be £320k at 1.75% I know lots of people here are predicting a crash but I'm hoping to get some opinions on whether to go for it or hold off, and if the latter, for how long, and how much do you think it will crash by? Most of my family and friends think that as long as you're living in it, and you take a long term view on prices, small dips won't matter along the way. thanks!

https://www.gov.uk/government/publications/budget-representations-guidance/guidance-for-submitting-your-budget-or-autumn-statement-representation Is it worth submitting something? If so does it make sense to submit similar proposals?

Article: Young people increasingly giving up on ever owning their own home <newspeak_translator> For years the Council for Mortgage Lenders has worked tirelessly to sweet talk each new generation into taking on ever greater levels of debt in exchange for a small, crap 'starter home' in which to endure their lifetime of debt servitude. The CML describe themselves as seekers after truth and the work of their organisation as the pursuit of the answer to what cult members call The Great Question: Is there any end to the willingness of the UK populace to take on debt in exchange for the promise home-ownership? "We've bloody done it!" announced chief Halifax debt pimp, Craig McKinlay. "This is the price level. This is the generation." McKinlay also announced plans to punish the generation in question, which he described as "worthless renter scum" by increasing buy-to-let lending in response to increased demand from "a bunch of boomer mugs my mate Osborne just tooled up with some deposits." McKinlay explained that it wasn't just about the price levels, "What swung it, I think, is that we also managed to crush their incomes by transforming the whole economy into an idiotic bet on house prices." </newspeak_translator> OK, an actual quote from Mr McKinlay: We can educate you!

How strangely bearish. Could that be because prices are going to go down? Of course not, it's because they're going up so the only 'crazy' would be to pay stamp duty now and even more stamp duty when you trade up in a few years. http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/10974069/Youd-be-crazy-to-buy-a-home-right-now.html