Mortgages

The Chancellor Rishi Sunak has told MoneySavingExpert.com founder Martin Lewis that the Government will keep looking for solutions to help mortgage prisoners, after Martin tackled him on the issue.

Homebuyers in Wales will continue to pay no transaction tax on properties purchased for up to £250,000 until 30 June - but the rates in Scotland will return to their usual level from 1 April.

The current stamp duty holiday in England and Northern Ireland has been extended until the end of June, and some relief will continue until the end of September, the Chancellor announced in the Budget today. 

Millions of homeowners in England will be given a new right to extend their lease by 990 years and not have to pay any ground rent, while extending a lease or buying a freehold will also become cheaper for many, under sweeping new Government reforms.

Martin Lewis has called on the Government to act to help "mortgage prisoners" as he gave evidence to the Treasury Committee about the financial impact of the coronavirus pandemic, warning that more households could become trapped as a result of the crisis. 

Mortgage prisoners who have been stuck overpaying for years are starting to escape to much cheaper deals thanks to new affordability rules, MoneySavingExpert.com can reveal – and one of the first homeowners to do so has told us he's saving almost £500/month as a result. 

A landmark report commissioned by MoneySavingExpert.com has put forward eight practical policy solutions to free 'mortgage prisoners', which the Government has committed to reviewing. 

Prospective homebuyers with a small deposit or little equity in their home have been hit hard this year, with lenders pulling the majority of low-deposit deals from the market. Yet there may be a glimmer of hope as a new trend is emerging – the mortgage 'flash sale', including the latest deal from Accord Mortgages, the broker-only arm of Yorkshire Building Society. But what is it and is it any good? 

Mortgage deals for first-time buyers with a low deposit have been disappearing from the market since the coronavirus pandemic took hold in the UK, new data shows.

The competition watchdog has launched enforcement action over leasehold concerns and is investigating four leading housing developers after uncovering "troubling evidence" of potentially unfair terms and potential mis-selling.