View more on these topics

First-time buyers await cooler market

Despite analysts&#39 predictions of a continued rise in house prices, new research from the Yorkshire Bank warns that people should not rely on the property boom continuing at the same rate.

It says its latest quarterly Housebuyers Survey of 2,000 adults shows the market&#39s underlying value is starting to fall away and although it is not predicting a dramatic or sudden slowdown, a correction is inevitable.

It says market stability is being affected by a reluctance of first-time buyers to enter the market and bolstering it from the bottom-up.

Yorkshire&#39s new research reveals that 24 per cent of would-be first-time buyers wish they had bought a year ago as they are unlikely to be able to afford to buy a home in the near future.

Thirty per cent say they are planning to put buying their first home on hold until prices have cooled down.

Yorkshire Bank says it is not just first-time buyers who are feeling the effects of spiralling prices.

Owner-occupiers are facing the prospect of having to almost double their mortgage to move up the property ladder.

One in 10 say they feel they have missed the boat and will have to wait until the market cools to purchase a bigger house.

Chief operating officer Geoff Greer says: “We are not predicting something sudden or dramatic but an inevitable correction.

“While current confidence in house prices emerges at an all-time high, with 63 per cent of people anticipating the value of their home will increase over the next 12 months, people should not rely on the current property boom continuing at the same rate.”


Cap is unfeasible, say providers

Providers say Sandler&#39s admission that face-to-face advice will at least initially be necessary on his suite of savings products makes the 1 per cent cap unfeasible.Following Sandler&#39s statement at the Treasury&#39s seminar last week, Norwich Union attacked Sandler&#39s proposals, claiming he did not do any work to determine if 1 per cent was viable and […]

CA defends campaign after concern by Smee

The Consumers&#39 Association has written to Aifa director general Paul Smee to express concern over his attitude to the CA&#39s campaign on endowment misselling.Following a conversation with Smee at a Treasury forum last week, CA campaigns director Allan Asher has written a letter to Smee which also slams the FSA for having “failed to do […]

Abbey move sparks fears over future of ScotMut

IFAs are questioning the future of Scottish Mutual following the decision of parent Abbey National to spurn it in favour of signing a distribution deal with Prudential to sell its Prudence Bond through Abbey&#39s high-street branches.Abbey is understood to be increasingly weary of injecting capital into its ScotMut subsidiary but has scotched rum-ours that ScotMut […]

Key issues

I have said it many times before and I will no doubt say it many times again – the key deliverable of a financial adviser, regardless of regulatory status, is advice.Current hard times are showing us every day that, if there is to be human interaction in the delivery of financial services products, then the […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm