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In the news this week, the latest round up

In the news this week we look at how property chiefs are urging a swift Brexit decision following the general election, the Brexit black hole, household debt and some relief for mortgage prisoners

property chiefs urge for swift brexit decision in the news

Property chiefs want speedy decision on Brexit after general election – Evening Standard

Following news this week of a general election on 12 December, property bosses hurt by political and economic uncertainty urged whichever party wins, to make a Brexit decision swiftly and not neglect the housing market.

Firms that have been grappling with some weaker buyer confidence made their pleas after MPs backed Prime Minister Boris Johnson’s call for an election.

Nick Leeming, chairman of estate agents chain Jackson-Stops, said: “It is clear that each of the main political parties’ manifestos need to have housing as a priority.”

Weston Homes’ chief executive Bob Weston  said he hopes the election “puts uncertainty to an end one way or the other”.

With the likelihood of the UK staying in the EU until the end of January, if you’re in the process of selling here are 5 tips on selling before Brexit

Click here for the full article

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2019 house-hunting hotspots revealed

House hunting hotspots of 2019 revealed: Seaside destinations dominate the top 20 most popular places to search for a home – Daily Mail

The most popular places to hunt for a property in Britain have been revealed with seaside destinations leading the way.

The city of Swansea, on the south coast of Wales, took the number one slot in research carried out by Zoopla.

Brighton in East Sussex, Margate in Kent, and Torquay, Devon also feature in the top 20.

The property website analysed the number of views of each property on its website and discovered the most popular towns house hunters were looking at.

Laura Howard, of Zoopla, said: ‘When it comes to the most searched-for post towns on Zoopla in the last 12 months, as ever, the proof is in the data. And, with SA4 and SA15 ranking first and second in the list, the data shows that South Wales reigns supreme.’

Find out why South Wales is topping the list and what other regions have featured.

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Brexit causing property black hole

Brexit ‘black hole’: Sales down and Britons aren’t selling amid ‘unknown abys’ out of EU – The Express

According to the Express newspaper, Brexit and its many ups and downs are causing severe ramifications for the UK property market. It states the latest property index shows price growth has slowed across the entire country. Increases in asking price remain subdued on a national scale.

What is more, fewer people are buying that would be usual at this time of year, with little sign of the “Autumn bounce.”

The property market is stagnating amid Brexit, as fewer houses are being listed.

Stock levels remain lower than usual as sellers continue to hold tight amid market uncertainty caused by Britain leaving the EU.

London is being hit worse, as the lack of stock is particularly prevalent in the London market.

House prices have fallen over the past year in London  and the South East plus there has been minimal house price growth in the past 12 months in other areas. Find out what’s really happening with house prices near you.

Or read the full article here.

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Energy suppliers in the news this week

Millions of households owe £267m to energy suppliers – what to do if you’re in debt – The Mirror

Households in Britain owe energy suppliers a total of £267million – and winter hasn’t even started yet, worrying figures show this week.

On average, families owe providers £115 each, despite the number of bill payers in arrears falling by 610,000 in the past year.

The report by uSwitch found 4.6million households won’t put the heating on even when it’s cold this season – while 1.6million will be forced to spend less on food to pay for their energy use.

It comes amid warnings that energy companies should be doing more to help customers who slip into the red.

Over half of those in arrears told uSwitch their supplier had not contacted them about their debt, nor offered advice about saving money or repaying the outstanding amount.

So get switching! Find out what you should be considering, as well as price, with our guide to switching energy suppliers.

Click here to read the full story

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Mortgage news this week

Barriers removed for some mortgage prisoners – but Martin Lewis says it will only ‘unchain a tiny fraction’ – Moneysavingexpert.com

The financial regulator has removed some barriers that stop mortgage prisoners from finding a cheaper deal – though many will still be left trapped it has been reported this week.

Currently, anyone applying for a mortgage is subject to strict affordability checks, but the Financial Conduct Authority (FCA) says that lenders can now relax these tests for new customers who meet certain criteria, such as being up-to-date with payments under their existing mortgage for at least 12 months, and not looking to move house or borrow more.

This means some mortgage prisoners will now be able to switch to a new lender more easily. Previously, only a mortgage holder’s existing lender would have been able to relax the strict affordability rules.

The regulator estimates between 2,000 and 14,000 mortgage holders will be able to switch to a better deal as a result of the rule changes, though this still leaves more than 100,000 mortgage prisoners on expensive tariffs.

Find out whether you can benefit and switch with our fee-free mortgage advice service.

Read the full article here

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1 Comment

  1. MY mortgage company have made a mistake and informed my credit company that I have not paid the full mortgage payment. I have the mortgage statements and my bank account to show I have paid the full amount each month. It has been one month and endless letters and still they have not put the matter right or written back.
    They say it take 8 weeks for the complaints department to act. I have told them I will make a complaint to the COI and they said please do not do that we have agreed to take it off but nothing n writing and still its on the credit file that I have paid reduced payments. Can you help me
    Kind regards
    G R Vickers

    Comment by geraldine Vickers — November 3, 2019 @ 7:22 pm

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