House prices hit record high in March surge: Halifax
By Gary Adams 9
th April 2021 9:52 am
The average house price in the UK grew 1.1 per cent from February to March, the latest Halifax house price index shows.
By Halifax’s numbers this is the first monthly rise seen since November 2020.
It also adds up to an annual rise of 6.5 per cent, which brings the average house price up to £254,606.
The lender says that government support measures and tightening supply of homes for sale will support prices in the short term.
“However,” says Halifax managing director Russell Galley, “with the economy yet to feel the full effect of its biggest recession in more than 300 years, we remain cautious about the longer-term outlook.
Government confirms plans to guarantee 95% mortgages
By Gary Adams 3
rd March 2021 12:26 pm
The government has confirmed that it will cover the risk of 95 per cent mortgages through a guarantee for lenders.
The scheme, announced during today’s Budget, will give buyers – both first-time and existing – the option to put down a 5 per cent deposit on a home with a value of up to £600,000, tackling the problem of higher-LTV mortgages disappearing from the market.
Described as a “New policy to stand behind home buyers,’ chancellor Rishi Sunak stated that some of the country’s biggest lenders, “Including Lloyds, NatWest, Santander, Barclays, and HSBC” will be offering the new mortgages from next month.
Stamp duty holiday may be extended until end of June mortgagestrategy.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagestrategy.co.uk Daily Mail and Mail on Sunday newspapers.
| UPDATED: 20:15, Tue, Feb 2, 2021
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One of the UK’s biggest mortgage lenders, the Nationwide Building Society released their latest house price index this morning, which suggested that house prices fell by 0.3 percent in January. This is the first monthly fall in house prices since June, when the current stamp duty holiday was announced, as well as a decrease on the 0.9 percent rise in house prices seen in December 2020.