September 21, 2007

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Abbey under attack for 125% mortgage

Permalink: Abbey under attack for 125% mortgage
by Kay Murchie

Abbey, Britain's third biggest mortgage lender, is being blamed for adding to the national debt crisis by introducing a new home loan worth up to 125% of a property's sale price. The Abbey mortgage is the largest of its kind ...

September 20, 2007

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Gazumping rife in UK property market

Permalink: Gazumping rife in UK property market
by Brian Turner

A study by fool.co.uk has found that gazumping continues to be a significant issue in the UK property market. Gazumping happens when someone makes an offer on a property that is agreed to, only for someone to come ...

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Property price increases overseas slowing down

Permalink: Property price increases overseas slowing down
by Kay Murchie

According to Frank Knight, the international estate agent, property prices overseas are increasing by 7.8% annually to the second quarter of 2007. This figure shows a 1.8% decline, from 9.6% since the same period last year. The tightening of lending criteria for ...

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Manchester leads the way in city restoration

Permalink: Manchester leads the way in city restoration
by Kay Murchie

According to a report in the Telegraph, investors are travelling to Manchester in their droves. Warehouses are being snapped up and new skyscrapers are planned for major locations in the city centre. Manchester was the first city in ...

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75% of builders occupied with renovations

Permalink: 75% of builders occupied with renovations
by Kay Murchie

The Federation of Master Builders (FMB) has announced that increasing property prices has resulted in homeowners renovating and extending their properties as they cannot afford the costs involved with moving. Rising interest rates and increasing stamp duty has meant that three quarters ...

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New housing plans revealed by Ken Livingstone

Permalink: New housing plans revealed by Ken Livingstone
by Kay Murchie

Ken Livingstone, the Mayor of London, has revealed plans to build 50,000 more affordable homes in London over the next 4 years. The Mayor said that the new homes make up a 50% increase in the number of affordable homes ...

September 19, 2007

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Women of all ages attracted by buy-to-let

Permalink: Women of all ages attracted by buy-to-let
by Kay Murchie

According to research by Bradford & Bingley, female investors are looking to expand their property portfolios in the buy-to-let market as a way of ensuring their financial future. In addition, the findings have established that women of all ages have ...

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Budget airline routes influence house prices overseas

Permalink: Budget airline routes influence house prices overseas
by Kay Murchie

According to Obelisk International, the property investment company, cheap airline routes can have a significant impact on property prices overseas. For example, at the beginning of this year, Ryanair and Easyjet launched new flights to Bulgaria’s beach and ski resorts. ...

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Property price growth to halve over next 12 months

Permalink: Property price growth to halve over next 12 months
by Kay Murchie

Alan Greenspan, the former US Federal Reserve Chairman, recently said Britain's housing market is heading for a fall and he has warned of problems for homeowners as increasing interest rates bring house price growth to a standstill. In ...

September 18, 2007

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Homeowners urged not to panic over higher mortgage costs

Permalink: Homeowners urged not to panic over higher mortgage costs
by Kay Murchie

Homeowners have been warned that rates are due to increase at the same time as many of the more than half a million borrowers, who took out fixed rate mortgages between September and December 2005, finish 2-year deals. ...

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15% decline in housing stock following Hips launch

Permalink: 15% decline in housing stock following Hips launch
by Kay Murchie

According to Hamptons International, the estate agents, new instructions to sell property were down 24% in London in the previous quarter and by an average of 6% across the country. A spokesperson for Hamptons commented that Home Information Packs (Hips) ...

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UK property market heading for a downturn

Permalink: UK property market heading for a downturn
by Kay Murchie

According to Alan Greenspan, the former US Federal Reserve Chairman, Britain's housing market is heading for a fall and he has warned of problems for homeowners as increasing interest rates bring house price growth to a standstill. Mr Greenspan commented ...

September 17, 2007

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Hips will become routine

Permalink: Hips will become routine
by Kay Murchie

In spite of being subject to criticism, Home Information Packs (Hips) are set to become second nature within the next 6 months according to Chesterton, the London-based estate agent. Currently Hips are required for properties with 3 or more bedrooms but eventually all ...

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£500 million funding for UK councils

Permalink: £500 million funding for UK councils
by Kay Murchie

It has been established that Councils around the UK that are working hard to increase the supply of both land and housing in their areas, are to be provided with extra funding worth a cumulative £500 million. Yvette Cooper, housing and planning ...

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Northern Rock – how will chaos affect mortgages?

Permalink: Northern Rock – how will chaos affect mortgages?
by Kay Murchie

Northern Rock, Britain’s fifth largest mortgage lender, has been affected by problems funding its mortgage offerings following the crisis in confidence in the financial markets. The outcome of the US subprime lending collapse has meant that banks are anxious ...

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2012 Olympics could result in massive house price growth

Permalink: 2012 Olympics could result in massive house price growth
by Kay Murchie

Estate agency, Ludlow Thompson, has said that the 2012 Olympic Games in East London could boost property prices by £50,000 or even £100,000. The agency remarked that the redevelopment of the area will bring a flood of ...

September 14, 2007

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Look to the coast for a second home

Permalink: Look to the coast for a second home
by Kay Murchie

For many years, Britons have taken pleasure in travelling to the coast for a holiday and in recent years, people are buying a holiday home at the coast instead of overseas. Many do not want the hassle of buying ...

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City living still a good investment

Permalink: City living still a good investment
by Kay Murchie

The trend for city living has grown over the last few years and a vast amount of city centre apartments have come up for sale. Rundown parts of city centres have been regenerated and warehouses have been transformed into luxurious ...

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Property prices fall

Permalink: Property prices fall
by Kay Murchie

According to a study by The Royal Institution of Chartered Surveyors (Rics), house prices are declining for the first time in 2 years due to a fall in demand. The study also showed that enquiries from prospective buyers were down for the first time ...

September 13, 2007

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Homeowners disguising bedrooms to avoid Hips

Permalink: Homeowners disguising bedrooms to avoid Hips
by Kay Murchie

According to research by Abbey, a considerable amount of homeowners would look to disguise a bedroom in order to avoid purchasing a home information pack (Hips). Abbey’s survey established 4.5 million owners of properties with 4 or more bedrooms would choose to ...