November 30, 2007

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Christmas homebuyers are a ‘rare breed’

Permalink: Christmas homebuyers are a ‘rare breed’
by Kay Murchie

As the festive season approaches, many are put off by selling their home and usually leave it until the New Year. However, those looking to sell their home at this time of year should avoid tacky Christmas lights, according to research ...

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Mortgage approvals falls to lowest level for 3 years

Permalink: Mortgage approvals falls to lowest level for 3 years
by Kay Murchie

Figures from the Bank of England has revealed that the number of mortgages approved for people buying a home fell to 88,000 during October, down from the 100,000 in September and the 6 month average of 109,000, providing ...

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House prices decline at fastest rate for over a decade

Permalink: House prices decline at fastest rate for over a decade
by Kay Murchie

Consumer confidence declines further as property prices fell at their fastest rate for 12 years in November. Statistics released this week from the Nationwide Building Society house price index showed a 0.8% fall in house prices during ...

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House prices decline at fastest rate for over a decade

Permalink: House prices decline at fastest rate for over a decade
by Kay Murchie

Consumer confidence declines further as property prices fell at their fastest rate for 12 years in November. Statistics released this week from the Nationwide Building Society house price index showed a 0.8% fall in house prices during ...

November 29, 2007

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Three quarters of homeowners do not understanding rate changes

Permalink: Three quarters of homeowners do not understanding rate changes
by Kay Murchie

Research from Nationwide has established that 75% of Britons do not understand the difference between a 5-year fixed-rate mortgage with a rate of 5.6% and one with a rate of 6.6%. In the current financial climate, finding the right ...

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Equity release versus downsizing

Permalink: Equity release versus downsizing
by Kay Murchie

Nigel Hare-Scott, managing director of home reversion specialist Home & Capital Advisers, believes that equity release can represent better value than downsizing. Equity release is a scheme designed to allow homeowners to release cash from the value of their property and downsizing is ...

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London house prices fall at fastest pace in over 2 years

Permalink: London house prices fall at fastest pace in over 2 years
by Kay Murchie

According to the Land Registry, property prices in London fell at their fastest pace in over 2 years last month with the cost of the average home in the capital falling by £2,100. The Land Registry, considered ...

November 28, 2007

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Tenant demand at highest level for 5 years

Permalink: Tenant demand at highest level for 5 years
by Kay Murchie

According to the Association of Residential Letting Agents (Arla), tenant demand in the private rented sector has hit a 5-year high. In prime central London, two-thirds of letting agents have more tenants than properties to rent with increase ...

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House prices set to increase 4% in 2008

Permalink: House prices set to increase 4% in 2008
by Kay Murchie

SmartNewHomes.com, the property website, recently said new-build property has bucked the trend and increased 0.7% during October with Halifax, Hometrack and Rightmove, report property price falls across the country. David Bexon of SmartNewHomes.com predicts that the average new UK property ...

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New guidelines for loft conversions

Permalink: New guidelines for loft conversions
by Kay Murchie

Homeowners wishing to carry out a loft conversion can look forward to new planning laws. The planning white paper, published earlier this year, gave the go-ahead for larger extensions at ground level, such as kitchens and conservatories, without planning permission. The Planning ...

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New-build property prices increase

Permalink: New-build property prices increase
by Kay Murchie

According to Halifax, Hometrack and Rightmove, property prices have fallen across the country but property website, SmartNewHomes.com, have said new-build property has bucked the trend and increased 0.7% during October. SmartNewHomes.com said that developers are offering incentives such as paying stamp duty and ...

November 27, 2007

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Flats to be hit by Hips rollout

Permalink: Flats to be hit by Hips rollout
by Kay Murchie

Last week saw the announcement from the Government that Home Information Packs (Hips) are to be extended to include all properties from December 14 but the move was criticised by many and said could be harmful to first-time buyers. The Royal ...

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Almost one third of borrowers on same mortgage deal for 10 years

Permalink: Almost one third of borrowers on same mortgage deal for 10 years
by Kay Murchie

mform.co.uk has established that 29% of borrowers have been on the same mortgage deal for at least a decade while 50% have been on the same deal for 5 years. Remortgaging is the process of paying ...

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Isle of Man – guesthouses now plush apartments

Permalink: Isle of Man – guesthouses now plush apartments
by Kay Murchie

The Isle of Man is situated in the heart of the British Isles and is a member of the British Commonwealth but not part of the UK. According to some experts, this small island in the middle of the ...

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Brokers accused of offering unaffordable homeloans

Permalink: Brokers accused of offering unaffordable homeloans
by Kay Murchie

Mortgage brokers are being accused of selling mortgages to applicants who cannot afford to reapy and accepting false earnings information. An investigation by the Financial Services Authority (FSA), established that some brokers are not meeting required standards and undermining the industry ...

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Property prices decline for a second month

Permalink: Property prices decline for a second month
by Kay Murchie

Figures from the housing information group, Hometrack, show that property prices fell for the second consecutive month during November. The average cost of a home in England and Wales fell by 0.2% to £175,700. Prices fell 0.1% in October which ...

November 26, 2007

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Support for stamp duty reduction on eco-friendly homes

Permalink: Support for stamp duty reduction on eco-friendly homes
by Kay Murchie

The Confederation of British Industry (CBI) is backing a proposal to reduce stamp duty for homeowners who invest in dealing with climate change and making their properties more energy-efficient. Iain Conn, a member of the CBI’s climate change taskforce, said ...

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Broker closed for sub-prime mortgages while two are fined

Permalink: Broker closed for sub-prime mortgages while two are fined
by Kay Murchie

A mortgage broker has been shut down while two others have been fined for mis-selling sub-prime mortgages. Sub-prime mortgages are those sold to people with a poor credit rating or who do not have secure jobs and who ...

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Investment interest growing in the Midlands

Permalink: Investment interest growing in the Midlands
by Kay Murchie

According to research from Property for Life, people in the Midlands are showing an interest in property investment. The investment consultancy established that interest in the region was up by 25% between June and November compared with just 3% in the ...

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Two-thirds of Landlords unaware of digital TV requirements

Permalink: Two-thirds of Landlords unaware of digital TV requirements
by Kay Murchie

The Digital TV switchover is set to be complete in the UK between 2008 and 2012, but research from the National Landlords Association (NLA) has established that two-thirds of landlords are unaware of the actions they need to ...