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Mortgage Blog

Is the Help to Buy ISA or the Lifetime ISA best for first-time buyers?

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We’re all too aware of the pressures now facing young people trying to take their first steps onto the property ladder – with house prices climbing every month and wages falling in real terms, scraping together a deposit can be nigh on impossible for wannabe first-time buyers. In the past few years, the government has…

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Bath Buy to Let – case Study

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Case Study  – Buy to Let Finance in Bath. A married couple in their 80’s approached Fox Davidson with a requirement to raise funds to buy a retirement home. The couple had several properties in Bath including their main residence and several buy to lets, all mortgage free. The couple from Bath had already spoken…

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Fox Davidson Housing And Mortgage Report Q1 2017

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Housing & Mortgage Report, Quarter 1 2017. Mortgages Fox Davidson recorded a record month for written business in March. As a company, we arranged over £16 Million pounds of lending for clients. The first quarter of 2017 got off to a slow start but from Mid- January the housing market has been extremely active with…

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How Much Stamp Duty Will I Have To Pay When I Buy My Property?

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One of the questions that mortgage brokers often get asked is, ‘How much stamp duty will I have to pay? Stamp duty has long been the nuisance of the property purchaser. With removal, solicitors and estate agents’ fees to pay, the additional cost of stamp duty can sometimes be a forgotten cost. It is in effect…

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Worried About Rising Rates?

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9 For months, we have been led to believe that a rate rise is imminent, but the Bank of England Monetary Policy committee keep pushing the decision into the long grass. The EU referendum caused the Bank of England to cut the bank’s interest rate to 0.25% against the backdrop of a feared economic shock and…

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Reasons To Use A Mortgage Broker

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If you’re looking to secure a mortgage, then it can be well worth using an independent mortgage broker. We take a look at the benefits. 1. They make it easy for you Seeking out the best mortgages for your needs is a time-consuming, difficult job in such a big market. An independent mortgage advisor, or…

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Homebuyer Reports And The Costs Involved

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From the specialist advice to the reassuring knowledge that you’ve got somebody on your side, the advantages of hiring a mortgage advisor or a mortgage broker are obvious, but there are also a few advantages that come with carrying out a survey. Here we’ve highlighted the different types of survey available and the costs involved….

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Help To Buy ISA – Are You Eligible?

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A Help to Buy ISA is a great way to get onto the property ladder. It involves saving money into a specialist ISA. For every £200 you put in, the government will give you a £50 bonus. The total bonus you can get is £3,000. The bonus funds are released after completion so don’t rely…

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Buy-to-let Mortgages – Advice For Would-be Property Investors

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If you are planning on entering the world of property investment and you can’t afford to buy outright, the chances are you will need a buy-to-let mortgage. What is a buy-to-let mortgage? Although buy-to-let mortgages work in the same basic way as residential mortgages, the interest rate charged by lenders is typically around 1.5% higher….

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UK GDP Revised Higher – But Don’t Expect An Interest Rate Rise

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2017, economists told us, would be a tough year for UK GDP growth. They said the economic fallout from Brexit would weigh heavily on investment and consumer spending, while former Chancellor George Osborne talked of an immediate emergency Budget in the event of a vote to leave the EU. But those things didn’t happen, and…

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Are Fixed Price Mortgages Going Off-trend?

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Following a surge in lending in January (homeowners borrowed more than in most months since the financial crisis), there was an expectation that house prices increases would slow down. However, instead, house price growth accelerated in February. One of the knock-on effects of this is that borrowers who are looking for cheap, fixed-rate mortgages need…

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Interest Rates: When Are They Likely To Rise?

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Interest rates are of huge importance to those with mortgages. In fact, one of the questions many house buyers will ask a mortgage broker is whether or not they think interest rates are likely to go up in the near future. If so, they can expect their repayments to be affected. The good news is,…

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Bristol & Bath Expensive Streets

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Bristol & Baths’ Most Expensive Streets. According to Zoopla, property prices in Bristol increased by 5.6% in 2016 and Bath property increased by 4.29%. In case you were curious, these are the top 3 most expensive streets in Bristol & Bath according to the Zoopla Index. Average property values: BRISTOL College Fields, Clifton, Bristol BS8…

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Self-build

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Grand Design – A Self-Build Home. It is estimated that there are around 12,000 self-builds completed each year. Building your own home is a dream many of us have had but few have put into reality. If you want to build your dream home then what is holding you back, lack of land? lack of…

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Can Self-employed Professionals Still Secure A Mortgage?

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If you had asked us the exact same question a decade ago the answer would have been much easier and straightforward. Prior to the recession, it was almost impossible not to get your hands on a mortgage even if you were self-employed, a freelancer or a contractor. Pre-2007, self-employed professionals did not even have to…

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Fox Davidson Quarterly Housing Report Q1 2017

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Fox Davidson Housing & Mortgage report, Quarter 4 2016. Mortgages It will be business as normal in 2017. Mortgages remain available on both residential purchases and re-mortgages. We lost the help to buy guarantee scheme at the end of 2016. This scheme saw a host of lenders offering mortgages at 95% loan to value which…

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Advantages Of Hiring A Mortgage Broker

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If you have been contemplating getting a mortgage broker, the first thing that may come to mind is how hiring one will actually be of benefit. Here are 4 reasons why a mortgage broker could be a great decision whilst on the hunt for a suitable loan: 1. Specialist advice When taking out a home…

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Mortgage Advice For First-time Buyers

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As house prices are set to rise by 2% in 2017, the worry of whether you could be eligible for a mortgage is very understandable as there are a lot of boxes that need to be ticked first. First of all, you must be over 18 years old to apply for a mortgage in the…

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A Week At Fox Davidson

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We thought you might like to hear how our work experience recruit, Edward, got on last week………. The week I spent with the staff at Fox Davidson was a wonderful experience which was unforgettable. This was my first time ever working in an actual business environment, it was not what I was expecting. I was expecting…

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Save Money In The Mortgage Sales!

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Save Money & Get Yourself Ready For The Mortgage Sales! Most lenders use the financial year for their sales stats. Therefore January 2017 is the start of the last quarter of their year. Lenders like to get in lots of business in the last quarter to hit their lending targets. We have already seen some exclusive…

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Increased Cost of Rent

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The Increased Cost of Rent. New tax rules being phased in from April 2017, higher stamp duty costs and new changes to the way buy to let lenders assess customers’ ability to borrow funds for a buy to let have all combined to make the cost of owning a buy to let more expensive. Fox Davidson…

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Housing & Mortgage Report Q3 2016

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Fox Davidson Housing & Mortgage report, Quarter 3 2016. Mortgages The Council of Mortgage Lenders reported that gross lending was £20.5bn in September, a fall of 7 per cent from the £22.5bn seen in August but 2 per cent higher than the £20.1bn lent in September last year. Lending for the third quarter of 2016…

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Investing In The Bristol Property Market

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Investing in the Bristol property market. The latest house price reports from Hometrack show Bristol as top of the ladder with annual inflation of 14% year on year. Coupled with rental yields still around 4 to 5% in most areas and Bristol starts to look like a very attractive proposition. The buy to let market in…

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Ask The Expert – Remortgaging

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Mortgages are among most homeowner’s largest monthly expenses and paying the absolute minimum in interest is financial common sense. That’s where remortgaging comes in. Many borrowers simply assume they are on a good deal because they were told it at the time they arranged the mortgage, but the market may have moved on since then and they could…

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Housing & Mortgage Report Q2 2016 – A Brexit Special

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Fox Davidson Housing & Mortgage report, Quarter 2 2016. This was ‘The Brexit Quarter’. Whether you voted to remain or to leave the EU I do believe most people were shocked that the UK as a whole voted to leave the European Union. In this Brexit special quarterly housing & Mortgage report we will look…

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Central London Property Finance

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A focus on Central London Property Finance. Property prices and Mortgage availability. The central London mortgage and housing market is currently undergoing a readjustment of house prices and mortgage lenders are reluctant to expose themselves too much in Zone 1. In the autumn statement of 2014 the chancellor, George Osborne, announced changes to stamp duty….

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How Is The Construction Shortage Affecting Buyers?

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How is the construction skills shortage affecting first-time property buyers? Wesley Davidson, joint director at Fox Davidson, discusses the skills shortage facing the construction industry and how this is contributing to a property price spike. Demand for housing in the UK has peaked and ministers are seeking to increase UK housebuilding to 200,000 homes a…

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Brexit Mortgage & House Prices

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How would a Brexit affect the mortgage and housing market? On the 23rd June the UK will vote on whether we leave the European Union AKA The Brexit. Supposing we do leave or supposing we don’t, what will be the effect on mortgages and housing in the UK? Will house prices plummet and will interest…

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Quarter 1 Report 2016

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Fox Davidson Housing & Mortgage Report – Quarter 1 2016 Q1 of 2016 has been a very busy quarter and follows on from a unusually busy December. The changes to stamp duty resulted in an increase in purchases of second homes from auction and development project purchases, holiday homes and buy to let properties – anything that…

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Property, Tax & Power Drills

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Budget March 2016 – Summary for Residential & Commercial property. The budget announced on March 16th was none too exciting. There were some changes announced to Commercial Stamp Duty rates which sees anyone buying at around £1 Million or less saving a few quid in tax and the results of the consultation on stamp duty…

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Europe Now In Charge Of Mortgages

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European Mortgage Credit Directive – How are you affected? In the week that Europe brought in the European Mortgage Credit Directive (EMCD) we take a look at the changes and discuss how you the consumer will be affected. The European Mortgage credit directive was put in place to create certain financial standards across the EU so…

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Stamp Duty – What A Rush!

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Stamp duty changes have resulted in thousands of prospective property purchases up and down the country being rushed through before the deadline of 31st March 2016. After this date you will pay 3% extra on top of every banding of stamp duty where you will own more than one property on completion. Since the announcements…

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South West Economy 2025

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  South West Economy 2025: economy to be driven by army of ‘grey go-getters’  56% of South West 55s in employment expect to work well past retirement age One in 20 plan to work after their 80th birthday Job for life dead but work for life alive and kicking – 8% plan to work after…

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Housing and Mortgage Quarterly Report: Q4 2015

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The Fox Davidson Housing & Mortgage Report. Q4 2015. MORTGAGES New tax rules announced in the Autumn statement affecting buy to let and second home stamp duty increases of 3% has seen a surge of mortgage activity with clients wishing to secure finance and complete on property before the 1st April 2016 deadline. December was…

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The Two Property Tax

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    Stamp Duty Tax Changes for 2 or more properties. HM Treasury produced a report on the 28th December outlining plans for a higher stamp duty to be charged on second properties including holiday homes, pied-a-terre and buy to let. The extra charge is 3% on top of any current banding rate. The charge…

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Buy To Let Tax Changes

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Major Buy to let tax changes to shake up the buy to let market. New government policies and regulation from Europe will see the buy to let market change for good from April 2016. Major tax changes: From the 1st April 2016 anyone buying a second property (whether it is to be used as a…

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Quarter 3 Housing And Mortgage Report

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Fox Davidson Quarter 3 2015 Mortgage and Housing report. MORTGAGES The CML reports that gross mortgage lending reached £20 Billion in September, slightly up from £19.7 Billion in August. Interestingly the September year on year figure was up 12% which is the 4th month in a row there has been a spike in year on…

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Remortgage Within 6 Months – The 6 Month Mortgage Rule.

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The 6 month mortgage rule. If you have brought a property for cash or you have inherited a property from a relative and you have then tried to remortgage it a few months later you may have come up against the 6 month rule. So why is it there and how can you get around…

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Buy To Let Tax Changes

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Buy to let Tax Changes Landlords are becoming increasingly worried about the changes to Buy to let tax on profits generated by buy to let properties. Many landlords don’t quite understand how these changes will work and how it will affect them. Fox Davidson look at the main changes and how it will affect landlords….

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6 Mortgage Tips for First Time Buyers

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Tips for First Time Buyers. With credit harder to come by, especially at high loan to values such as 90% and 95% it is imperative that as a first time buyer seeking a mortgage you get your ducks in a row before making a mortgage application. Here are 6 mortgage tips for first time buyers that will…

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Fox Davidson Quarter 2 Report

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Mortgages Buy to let activity up, Residential down. The Council of Mortgage Lenders* reported that lending in April was £15.8bn, down from £16.1bn in March and £16.8bn in April last year. Interestingly the April report showed remortgage, purchase and first time buyer mortgage transactions were down year on year and down by as much as 8%…

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Summer Budget 2015 – Property

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So the Chancellor George Osbourne yesterday delivered his summer budget and we all knew that cuts were coming, he has warned about that in his previous budgets. Those tax cuts have affected property and in particular Buy to Let landlords. But it is not all bad news….. Rent a room relief is up! If you…

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UK High Value Loans.

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Understanding the UK High Value Loans Mortgage Market. Loans of £1 million pounds plus. Fox Davidson secure UK high value loans or large mortgage loans on UK property and have access to high street banks, private finance banks and specialist large loan lenders. For clients across the globe that are looking to secure private finance of…

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Uber Innovation!

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What the mortgage market now needs is innovation. Mortgage lenders continue to keep knocking down their rates and introducing incentives in an attempt to draw in new business but it’s all getting a bit boring. What the market needs are some new criteria that meet the needs of the mortgage clients of the next 5…

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Mortgage Broker Bitton

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Mortgage Broker Bitton We are Bitton mortgage brokers and provide an unrivalled relationship based service for the people of Bitton, South Gloucestershire wishing to buy or re-mortgage Residential, Buy to Let and Commercial property in Bitton. If you live in BS30 and need whole of market mortgage advice in Bitton, from a leading UK mortgage…

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Help To Buy ISA

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Following the announcement of the ‘Help to Buy ISA’ in yesterday’s budget speech we take a look at how it works and assess how effective it will be in helping first time buyers to get onto the property ladder.

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