Home Finance – In the news
Half of all first-time buyer transactions were supported by the Bank of Mum & Dad (BoMaD) in 2021, according to analysis1. BoMaD contributions of £9.8bn helped 169,000 first-time buyers onto the housing ladder. Surging BoMaD contributions could become the norm, analysts suggest, after Help to Buy is withdrawn completely from March 2023 onwards.
Time to negotiate?
Six in ten UK homebuyers are unsure when to negotiate during the house buying process, even though the same percentage say they feel confident negotiating, a survey2 has revealed. In today’s seller’s market, negotiating can be a risk; seven in 10 admit their biggest concern is losing the property or being outbid by another buyer.
Almost half of people (49%) have never remortgaged their home according to research3, despite the average Briton having held a mortgage for over 13 years. By failing to consider their mortgage options, for example, securing a fixed term instead of a variable rate, just under a third (32%) know it could probably save them money.
2Douglas & Gordon, 2021,
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.