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September 13, 2007
Shared-ownership schemes causing some concern
Permalink: Shared-ownership schemes causing some concern
by Kay Murchie
Shared-ownership schemes have been appealing to many homebuyers as rising house prices have meant that first-time buyers are struggling to get on to the property ladder.
According to the department for Communities and Local Government, first-time buyers are now paying an average of ...
Kitchens losing their appeal
Permalink: Kitchens losing their appeal
by Kay Murchie
Recent research from Legal & General discovered that the most important factor when buying a new home in the UK is a large kitchen or garden. The study noted that 15% said a large kitchen with space for a dining table was most ...
September 12, 2007
Cost of renting at a record high
Permalink: Cost of renting at a record high
by Kay Murchie
According to research from the Association of Residential Letting Agents (ARLA), renting a house in prime central London will cost approximately £819 a week. However, this figure is £345 across the south-east and £230 in the remainder of the country. ...
Sealed bids in Scotland must be stopped
Permalink: Sealed bids in Scotland must be stopped
by Kay Murchie
Purchasing a property Scotland is slightly different from purchasing a house in other parts of the UK. In England and Wales, a property is usually advertised at a given price and the vendor accepts that they may well have to ...
Expensive homes in London to be hit by credit crisis
Permalink: Expensive homes in London to be hit by credit crisis
by Kay Murchie
Savills, the high-class estate agency, has warned that the turbulence in the financial markets will hit the top-end of the London housing market.
A spokesperson for Savills said that the credit crisis is already affecting commercial property ...
September 11, 2007
Interest rate will not exceed 5.75%
Permalink: Interest rate will not exceed 5.75%
by Kay Murchie
According to mortgage advisor John Charcol, the recent decision to retain the base rate at 5.75% was not a shock, however, the company claims it is waiting in anticipation for the minutes from the committee on October 18 to gain a ...
First-time buyers receiving financial help from grandparents
Permalink: First-time buyers receiving financial help from grandparents
by Kay Murchie
Research by CreditExpert has established that 31% of British grandparents are providing financial assistance to their grandchildren in order to get them on to the property ladder. 11% of British grandparents have expressed concern that the child’s parents are ...
First-time buyers seek opportunities abroad
Permalink: First-time buyers seek opportunities abroad
by Kay Murchie
According to research from Pacific Concord Properties Inc., unaffordable UK house prices means that first-time buyers are looking further a field as house prices are significantly lower in the overseas market.
84% of 18 to 30 year olds believe that investing in property ...
Home Information Packs now law for 3-bedroom houses
Permalink: Home Information Packs now law for 3-bedroom houses
by Kay Murchie
From 10 September, Home information packs (Hips) will be required for all homes with 3 bedrooms. If the person marketing the property or the seller for private selling, fails to produce a Hip, they will be subject to ...
Head east for lower property prices
Permalink: Head east for lower property prices
by Kay Murchie
Property prices in the West Country and the Cotswolds are rocketing so buyers are looking east to find their ideal country home. In the past, those looking for a quiet, simple country life have looked west to Devon and Cornwall.
The ...
September 10, 2007
Remortgage advises the Nationwide
Permalink: Remortgage advises the Nationwide
by Kay Murchie
The Nationwide is suggesting that those coming to the end of their fixed-rate term on their mortgages should think about remortgaging to avoid a large increase in payments.
Between October and December, several 2-5 year fixed-rate mortgages are set to revert to a ...
Tynedale property prices to soar
Permalink: Tynedale property prices to soar
by Kay Murchie
A report produced by the National Housing Federation reveals that potential buyers in Tynedale, north-east, are faced with taking out a mortgage that is over 10 times the average salary earned in the area. The report estimates that house prices will soar ...
Dig deep for extra living space
Permalink: Dig deep for extra living space
by Kay Murchie
In the UK, an astounding £40 billion is spent on home improvements every year. However, home improvement used to be considered a little DIY during the weekends but it now suggests major alterations and the latest trend is digging out a ...
First-time buyer costs soar down south
Permalink: First-time buyer costs soar down south
by Kay Murchie
According to Abbey Mortgages, the north-south divide has never been greater for first-time buyers. People in the south only had to borrow £32,927 in 1997 to get onto the property ladder - only 8% more than those in the north who ...
September 7, 2007
Persimmon Homes brings stylish properties to South Birmingham
Permalink: Persimmon Homes brings stylish properties to South Birmingham
by Kay Murchie
Persimmon Homes has built stylish new homes in an established residential location in Windsor Gardens, halfway between Moseley and Solihull, South Birmingham.
The development near the Stratford upon Avon canal comprises 105 new apartments, semi-detached and detached homes and ...
Housebuilder Miller develops in Cambridge
Permalink: Housebuilder Miller develops in Cambridge
by Kay Murchie
Miller, voted housebuilder of the year 2007 by Building magazine, is constructing a range of one and two bedroom apartments just north of Cambridge city centre.
A spokesperson for Miller announced that this is the first time Miller has built in Cambridge. ...
Lenders charge for advice on dealing with debt
Permalink: Lenders charge for advice on dealing with debt
by Kay Murchie
Borrowers struggling with excessive fees are now being charged for advice by mortgage lenders and critics have blamed lenders for driving those in financial difficulty even further into debt. Borrowers are already suffering with interest rate hikes.
However, independent ...
Interest rates remain at 5.75%
Permalink: Interest rates remain at 5.75%
by Kay Murchie
Interest rates have now been held for the second consecutive month following 5 increases since August 2006. The decision to keep the base rate at 5.75% was expected by analysts.
A spokesperson for Global Insight remarked that the decision by the Bank of ...
September 6, 2007
Homeowners taking in lodgers
Permalink: Homeowners taking in lodgers
by Kay Murchie
According to PropertyFinder, the 5 interest rate rises in 12 months has meant that many homeowners are struggling with higher repayments and are therefore looking for extra cash. Consequently, taking in a lodger is becoming increasingly popular and with 26 million spare bedrooms ...
Affordability is nearly at a record low
Permalink: Affordability is nearly at a record low
by Kay Murchie
Affordability is nearly at a record low, with the percentage of income required for a deposit increasing 8% in the 12 months to quarter 2 of 2007. Access to the housing market is 350% worse currently than during 1996.
This ...
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