Essentially Mortgages – Quarter Three 2021

Overview

PROPERTY MARKET SET TO SHINE THIS SUMMER

The property market surfed into 2021 on a wave of high buyer demand, and the momentum is showing no signs of slowing down as we embark on the second half of the year.

HOLIDAY LETS ARE HOT PROPERTY

Holiday lets in UK seaside locations are soaring in popularity, with investors willing to splash out £403,143 on average – nearly two thirds higher than the average house price.

INVESTING IN YOUR GARDEN

It seems that gardens have become more important to UK homeowners during the pandemic, with research8 showing that 58% feel their garden has become more of a priority, resulting in a willingness to spend considerably more on their outdoor space.

BEWARE THE HOLIDAY SELFIE

Over the summer months, our social media feeds are invariably full of envy-inducing snaps of holidaymakers enjoying themselves.

HOMEOWNERS SITTING ON ‘HIDDEN EQUITY’

Many of us like to think we have a rough idea of how much our home is worth, should we ever come to sell it. However, a recent survey9 suggests that just three in ten people are accurate.

BEACH HUTS – THE NEW MUST-HAVE PROPERTY?

Increased demand for seaside properties has been seen across the UK over the past year, as thousands have upped sticks and moved to the countryside or coast.

STAYING A STEP AHEAD

Many of us are likely to know somebody who fell ill this year, suffered a bereavement or lost their job. We have seen first-hand the impact even a short absence from work or period of unemployment can have on our financial resilience.

HOME MOVER NUMBERS OVERTAKE FTBs

The number of people moving home outpaced the number purchasing their first property in Q1 2021, UK Finance has reported.

£17M IN PROTECTION CLAIMS PAID OUT DAILY IN 2020

‘Insurers never pay out’ is one of those myths that is so widely stated that many people simply believe it to be true. However, evidence shows it is simply not the case.

CORNWALL OVERTAKES LONDON AS MOST DESIRABLE LOCATION

With its gorgeous beaches, historic villages and stunning vistas, Cornwall has long been a top destination for international and domestic holidaymakers.

BOUNCING BACK – AVAILABILITY OF HOLIDAY LET MORTGAGES

It’s good news all round for those looking to invest in their first rental property, with the number of holiday let mortgages now back to nearly pre-pandemic availability. Data from Moneyfacts shows there are now 154 holiday let mortgages currently available, not far off the 162 on the market in March 2020.