Duxbury Mortgages Ltd

28/04/2026

While Sebastian Sawes was running a sub-two-hour marathon in London this weekend, I was running a (much slower) Blackpool Marathon. Massive respect to everyone who took part in either event!

27/01/2026

Get mortgage-ready this year
Hoping to move or remortgage this year? Here’s how to get mortgage-ready in 2026.

Review your finances

Now that the busy festive period is over, why not take this opportunity to organise your finances. Go through your bank statements and identify where you can reduce your spending – not only will this help you save for a deposit, but it will make your mortgage application stronger in the eyes of a lender.

Set savings goals

There are many hidden costs associated with moving, including conveyancing fees, removal vans, stamp duty and surveys. Considering these additional costs now will help you plan realistically and start saving accordingly.

Check your credit score

Most lenders use one of three main credit reference agencies to check your credit report – TransUnion, Equifax and Experian. You can check your score for free now, giving you time to make any necessary improvements before applying.

Consult a mortgage broker

Seeking professional advice early can make sure you’re well prepared for the mortgage process. It can help you set a realistic budget and gives you an opportunity to strengthen your application.

Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay and early repayment charge to your existing lender if you remortgage.

27/10/2025

FTBs making smart sacrifices
A survey of homeowners has highlighted the savvy behaviours of today’s first-time buyers (FTBs).

The report found that over half of FTBs are opting to buy a studio flat or a home with one or two bedrooms. Also, 67% said they purchased a property in an area they were unfamiliar with due to affordability challenges and a lack of suitable properties. But one in four new homeowners are moving on after an average of four and a half years, with 37% of respondents saying this was due to space sacrifices and 18% citing location as a key factor.

David Morris at Santander commented that “the new wave of more savvy first-time owners seems to be increasingly pragmatic”; they are making compromises to get on the property ladder, then moving on to somewhere “better suited to their long-term needs”.

Sources:
https://www.yourmoney.com/mortgages/first-time-buyer/first-time-buyers-sacrifice-on-space-drives-them-up-property-ladder-in-fewer-than-five-years/

22/09/2025

House prices outstrip wage growth
Over the last year, house prices have increased 5.3 times faster than the rate of earnings.

The average house price has increased by £10,087 to £271,403. However, the typical annual salary has only gone up by £1,921 to £40,334. The East of England and the East Midlands have experienced the most significant disparity, with house prices outstripping earnings by 6.7 times. Scotland (6.4 times), Wales (6.3 times) and Yorkshire and the Humber were also significantly affected (5.8 times).

Despite London experiencing slower house price growth and higher salary levels, prices have still increased 4.7 times faster than average earnings. The gap was relatively smaller in the North West (3.8 times), South East (3.7 times) and South West (3.3 times), although there is still a noticeable difference.

Sources:
https://todaysconveyancer.co.uk/average-house-price-increased-5-3-times-salaries-year/

03/09/2025

The School Holidays are over!! Happy Back to School Day from my family to yours!!

10/07/2025

https://www.bbc.co.uk/news/articles/cj0mny9pm2do

The Bank of England has recommended a looser cap on riskier lending.

07/07/2025

England top for moving costs at £51k
The average cost of moving home in England is now £51,826, the highest in the UK, according to Yopa’s latest Housing Market Affordability Review.

It shows the total has risen nearly 11% in a year, driven largely by changes to Stamp Duty. Stamp Duty alone now costs £4,528 on average, more than triple last year’s amount. Conveyancing costs increased 12.5% annually to an average of £1,364, while removal costs increased by 1.3% to £917 on average. Mortgage deposits remain the biggest expense, averaging £43,585.

Wales and Scotland follow, with average moving costs of £34,429 and £32,172, respectively, while Northern Ireland remains the cheapest at £31,353, though costs there saw the sharpest annual rise at 13.2%.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Source: https://theintermediary.co.uk/2025/04/england-boasts-the-highest-moving-cost-at-51826-finds-yopa/

09/06/2025

Buyers leaning towards fixer-uppers
Fixer-uppers are the most popular type of home among buyers this year*.

Analysis has found that nearly half (46%) of fixer-upper homes on the market are under offer or have sold subject to contract. Meanwhile, 37% of period properties on the market have found a buyer and modern homes are the least popular, with only 27% under offer.

It is estimated that the average fixer-upper property is discounted by 12%2, indicating that the nation is opting for the most affordable option. However, supply is limited, as fixer-uppers account for only 5% of all homes listed. There is better availability for modern homes (10%) and period properties (28%).

Hoping to make your property dreams come true in 2025? Get in touch.

Your home may be repossessed if you do not keep up repayments on your mortgage

* Yopa, 2025
2 Rightmove, 2024

28/05/2025

Buying beats renting across Britain
Buying a home is now significantly cheaper than renting across most of Great Britain, according to research from property website Zoopla. The average monthly mortgage payment for first-time buyers (FTBs)stands at £1,038, which is 20% lower than the average monthly rent of £1,248. This analysis assumes buyers have a 20% deposit, which works out as £50,740 based on the typical FTB home priced at £253,700. In London, where affordability is stretched, deposits tend to be higher, averaging 30%.

The regional cost gap
Mortgage payments are 24% lower than rents in the North East, the widest gap in the country. Other areas showing large savings for buyers include Glasgow (46% cheaper to buy), Newcastle (34%), and Cardiff (31%). However, in the East of England, it’s still 9% more expensive to buy than rent. In 10% of postal areas, buying costs more, led by Harrogate, where mortgage payments are 15% higher than rents.

Despite the current advantage for homeowners, affordability remains a major hurdle for many first-time buyers. Raising a deposit is one of the biggest challenges, with average deposits ranging from £27,700 in the North East to £83,400 in London. Nearly two-thirds of FTBs say they’ve needed help from family to cover the upfront costs.

Getting on the ladder remains challenging
Tougher mortgage regulations introduced in 2015 are also making it harder to achieve home ownership. Lenders now expect buyers to prove they can manage repayments even if interest rates rise. Many currently use a ‘stress test’ of 8%, well above current mortgage rates, which can push monthly repayments above rental costs, even in areas where buying is typically cheaper.

Zoopla’s Executive Director, Richard Donnell, said, “Our renting versus buying analysis is welcome news for would-be first-time buyers looking to buy their first home, having faced steep increases in rents over the last three years.” However, he added, “There remain challenges facing first-time buyers, especially those on average incomes or with small deposits… The more first-time buyers priced out of home ownership, the greater the pressure on the private rental market and rental levels.”

Donnell welcomed proposals to review mortgage lending rules, suggesting stress testing rates closer to 6% or 7% would help more people buy without triggering a surge in house prices. “We do not want to return to the loose lending that preceded the global financial crisis,” he said. “But modest changes could ease the way for middle-income renters to become homeowners.”

Looking to buy your first home but not sure where to begin? Get in touch, because we’re here to guide you every step of the way.

Your home may be repossessed if you do not keep up repayments on your mortgage

22/04/2025

Beware the double insurance trap

Owners of electrical vehicles (EVs) are advised to check their motor and home insurance policies as they could fall into the double insurance trap.

An increasing number of motor insurers are providing cover for EV cables. While this is promising, it could cross over with your home insurance, leaving you in a double insurance trap if you need to make a claim. Some insurers state that they will not make a payout if cover is provided elsewhere, so it’s vital to read the small print of your policy wording and identify any grey areas. Also, about four in 10 products still do not clearly state if cover is provided for EV cables and charging points – if this is the case, you should confirm with your insurer.

As with all insurance policies, conditions and exclusions will apply.