Mortgage lenders explain sluggish application times

Mortgage lenders explain sluggish application times

Mortgage lenders are taking longer than usual to handle mortgage applications, much to the frustration of potential homebuyers and their mortgage brokers.

This has been blamed on strong demand, Covid-19 heightening application complexity and, with buy-to-let, a difficulty in scheduling surveyor visits to tenanted properties. To continue reading this article, please click here
Source: Property Wire


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This week’s property update looks at the latest £-per-square-foot trends, offering a snapshot of how the market is moving. While small shifts may not signal price changes, they reveal the evolving mix of homes for sale and provide valuable insight into overall market health and momentum.

Over the past three years, the number of homes for sale has surged dramatically, far outpacing the national rise. Yet, despite the increase, supply remains tighter than in past downturns. With more choice for buyers, success now depends on smart, realistic pricing that stands out in a competitive market.

Located in the popular Constable Close off London Rd, Attleborough, this 3-bedroom semi-detached home offers a lounge off the entrance hall, fitted kitchen/diner, refitted bathroom, garage, and west-facing garden backing onto a play park, the property is offered with no onward chain.

A new £2m-plus home surcharge is billed as progressive, but its impact falls mainly on London and the South East, where many owners now face an annual bill from 2028. Critics warn it punishes long-term residents, cools the prime market and deepens regional divides, even as households weigh downsizing. Many fear a new cliff edge at £2m too.