This week, it’s 2013.
- Average house price: £175,826
- Base rate at year-end: 0.5%
- House price inflation: 8.4%
- General inflation: 2.5%
- Oscar Best Picture winner: Argo
- Best-selling album: One Direction, Midnight Memories
- Must-have Christmas toy: Teksta Puppy
- Christmas number one: Sam Bailey, Skyscraper
Mortgage and housing market highlights
Signs of life begin to emerge in the housing and mortgage market in 2013. Reports of increased competition in the lending market and activity from first-time buyers are on the up bringing some positivity back to the industry.
The equity loan phase of the Help to Buy Scheme, available for both first-time buyers and home movers to purchase new-build properties, was launched in April with the mortgage guarantee scheme following in October. The equity loan scheme proved to be hugely successful in boosting the sales of new-build homes.
In April, the Financial Conduct Authority was formed following the creation of the Financial Services Act 2012 and took over the reins from the Financial Services Authority.
The industry prepared itself for the introduction of the Mortgage Market Review as the latter half saw a wave of roadshows up and down the country hosted by the regulator, networks and mortgage clubs getting brokers reader for the changes ahead of them. Mark Prisk was housing minister and faced criticism that the Help to Buy schemes would fuel another housing bubble.
Kensington wins Best Specialist Mortgage Lender at the Your Mortgage Awards
The year’s highlights
January – Mark Cahill, a 51-year-old former pub landlord from West Yorkshire, becomes the first person in the UK to receive a hand transplant.
February – the University of Leicester announced on 4 February that it had concluded beyond reasonable doubt that the skeleton found beneath a Leicester car park was Richard III.
April – Margaret Thatcher, Britain’s first female Prime Minster who held office between 1979 to 1990, died on 8 April.
-Two bombs are exploded at the Boston Marathon on 15 April, killing three people and injuring 264 people.
May – Edward Snowden leaks information about the NSA’s secret internet and mobile phone data gathering program.
September – Twitter goes public on 12 September and shares were initially sold for $26.00.
November – Sony releases the Playstation 4 gaming system
And that was the year that was 2013.
