Traditional wisdom states that basic housing expenses like rent and utilities should cost no more than 35% of your annual monthly income. We know this is hard to do in today’s economy and housing market, so we recommend a more relaxed percentage of 45%. Quite often the best place to start is by really understanding how much is going out. So, before you work out how much you should be spending on…
Why Millennials Aren’t Buying Homes Anymore
August 7, 2024
If one thing is obvious about today’s economy, young people are not buying houses as much as previous generations.
According to Business Insider, only a third (31%) of UK millennials own any property at all, behind the global average of 40%. Further, only 74% of UK…
4 Things to Look Out for When Buying A House Or Property
August 7, 2024
We understand that the property market for young people is abysmal According to Statista, the average price of a house in the UK as of July 2023 was £232,000, up almost 100% from the average price of £157,000 in 2009.
Considering that the median annual disposable…
11 Overlooked Expenses When Buying A Home (UK)
July 16, 2024
When purchasing a home, you expect to spend some money on the process. But are you really prepared for all of the additional expenses that might come with purchasing a home?
In this article, we cover 11 expenses you need to factor in when buying a house in the UK.
Also consider checking out our post on the average rental yields in the UK.
Let’s dive in.
11 Expenses To Factor In…
Average Rental Yields (UK, Broken Down by Area)
January 3, 2021
If you are considering buying property to rent, you probably have a lot of questions swimming around your head. The most important and immediately relevant one is probably: is buying to let a good return on my investment?
Historically, property has been one of the best…
What Credit Score Is Needed to Buy a House (UK)?
December 4, 2020
When you apply for a mortgage loan, lenders will look at your credit history.
In order to be accepted, you need to show mortgage brokers that you have a history of paying off debt and can make your mortgage payments in a timely and reliable manner.
Mortgage…
How Do Mortgages Work In The UK?
December 2, 2020
So you are thinking about buying a home; good for you! If you are a first-time buyer in the UK, you probably do not have the cash to buy a house outright.
Instead, you will probably take out a mortgage to pay the bills.
If you are thinking about taking out a mortgage, then you are probably wondering how the process works. You need to think very carefully before securing other debts against…
Is 2021 A Good Time to Remortgage? (UK)
August 30, 2020
If one thing is clear, the past couple years will go down in the history books as a year of significance.
With unexpected situations comes financial uncertainty. But, despite this economic uncertainty, it still might be a good idea to remortgage your home in the UK. The…
Living in London can be expensive, and I’m sure you didn’t need me to tell you that. The Independent called the Greater London area the U.K’s 2nd least affordable city, with Oxford holding down the top spot.
The truth is, however, with increased living costs…
Real Estate Investing in Your 20s (7 Essential Tips)
August 2, 2020
For many people, the idea of investing in real estate in your 20s sounds absurd. After all, most people in their 20s are just starting out and may not have large amounts of money needed to invest in properties. In fact, the majority of those in their 20s are focused on finding a solid job and finding immediate security.
However, investing in real estate in your 20s is perfectly feasible and…