First-time buyers are overestimating the amount of money they need for a house deposit. According to research from HSBC in most areas of life people underestimate how much they need in their kitty but this trend does not carry over to a house deposit.
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March mortgage figures skyrocketed thanks to the stamp-duty exemptions for first-time buyers but this spike is expected to be short lived. The end of the stamp-duty holiday in March did exactly as forecast and pulled figures up from the February levels.
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The first-time buyer rush was not enough to see a positive annual movement in Scottish house prices in March. According to the house price index from LSL and Acadametrics Scotland’s house prices saw an annual drop of 1.2 per cent in March.
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Divorce between people aged 60 plus is on the rise in the UK leaving many older Brits alone and trying to find a home. According to the Office of the National Statistics divorce rates in the UK fell by 11 per cent between 2007 and 2009, but rose for those aged over 60.
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There is a forecast spike in the number of accidental landlords in the UK following the rise in Standard Variable Rates from lenders. An increasing number of home owners will stop moving up the property ladder due to the increased rates.
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The cost of residential land in the UK remained unchanged in the first quarter of this year. According to the Knight Frank unique development land index prices remained stable across the UK in the first three months of this year.
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