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July 24, 2008
Tracker mortgages offer good value for money
Permalink: Tracker mortgages offer good value for money
by Kay Murchie
Moneysupermarket.com, the finance price comparison website, has found that tracker mortgages, which track the Bank of England’s base rate, are making a comeback and look good value for money.
Research from moneysupermarket found that the gap in cost between a ...
London residential tenancies rise 19%
Permalink: London residential tenancies rise 19%
by Gill Montia
Estate and letting agent, Your Move, has reported that the number of people renting in London has risen by 19% in the past year.
As first-time buyers hesitate to enter the market and mortgages remain both expensive and in short supply, residents of ...
Commercial landlords back BRC to help struggling retailers
Permalink: Commercial landlords back BRC to help struggling retailers
by Lin Freestone
The British Property Federation (BPF) has been campaigning for property owners to offer retailers a helping hand during the economic downturn.
The BPF, which represents the UK property industry, has said that its members will endeavour to work with their ...
Mortgage advisers fail to give proper advice says Which?
Permalink: Mortgage advisers fail to give proper advice says Which?
by Lin Freestone
Consumer watchdog, Which?, has carried out an undercover investigation into mortgage advisers, which found that 41 out of the 50 advisers surveyed, failed to provide one or more piece of key information.
Researchers posing as first-time buyers were sent ...
July 23, 2008
Mortgage approvals hit new low while house sales halve in just one year
Permalink: Mortgage approvals hit new low while house sales halve in just one year
by Kay Murchie
According to figures from the British Bankers' Association (BBA), mortgage approvals for house purchases have fallen to a record low.
The BBA said its members approved just 21,118 new home loans in June, down 23% ...
Final offer from Limitless for Minerva
Permalink: Final offer from Limitless for Minerva
by Lin Freestone
Minerva, the developer of office projects mainly in London, has received a further takeover proposal from Limitless, the Dubai-based property investment group, valuing the company at around £258m.
Limitless has said the offer is final. It is more than double the ...
July 22, 2008
Stewart Milne Group adds to construction sector woes
Permalink: Stewart Milne Group adds to construction sector woes
by Kay Murchie
Evidence of the housebuilding slump continues as one of Scotland’s largest construction companies, Stewart Milne Group, is to slash its workforce by one fifth.
The Aberdeen-based group said 289 jobs are to go with the majority of the cuts in ...
NLA launches Tenant Check service
Permalink: NLA launches Tenant Check service
by Gill Montia
The National Landlords' Association (NLA) has launched a Tenant Check service aimed at helping private landlords make informed decisions about their prospective tenants before granting them a tenancy.
According to NLA research, it can take up to six months to resolve cases ...
Potential takeover of buy-to-let lender Paragon by private equity group
Permalink: Potential takeover of buy-to-let lender Paragon by private equity group
by Lin Freestone
Shares in Paragon, a leading provider of specialist finance for property investors, have fallen by almost 90% in the past year as a result of the credit crunch. Although Paragon announced record profits in 2007, it is ...
Demand for commercial property drops by one third
Permalink: Demand for commercial property drops by one third
by Lin Freestone
According to the latest survey by the Royal Institute of Chartered Surveyors (RICS), for the second quarter of the year tenant demand for retail, industrial and office space overall has dropped by more than a third between January and ...
July 21, 2008
Citigroup warns house prices will continue to fall
Permalink: Citigroup warns house prices will continue to fall
by Lin Freestone
In an interview broadcast on the BBC, the chairman of Citigroup, one of the world’s largest consumer banks, warned that house prices in the UK and the US are likely to fall for another two years.
According to Sir Win ...
July 18, 2008
Successful launch of affordable homes in Swansea
Permalink: Successful launch of affordable homes in Swansea
by Lin Freestone
Shares in affordable new apartments in Swansea's £200m SA1 Waterfront development are being put on the market for as little as £33,750.
Hundreds of people turned up this week at the launch of the apartments by Gwyr Homes at an open ...
Work starts on £70m Sunderland business park
Permalink: Work starts on £70m Sunderland business park
by Lin Freestone
Barmston Developments, a joint venture partnership between Wilton Developments and Clugston Developments, is beginning work on a £70m business park in Sunderland in spite of the current economic climate.
The partnership worked closely with Sunderland City Council to create a ...
Westfield London’s Shepherd’s Bush shopping centre 92% let
Permalink: Westfield London’s Shepherd’s Bush shopping centre 92% let
by Lin Freestone
There are just 100 days to go before the opening of London’s biggest shopping centre in Shepherd’s Bush.
As opening day approaches at Westfield’s London project, work is stepping up with an estimated 5,000 construction workers on site.
The £1.6bn, ...
Kier Group adds to construction industry woes with 350 job losses
Permalink: Kier Group adds to construction industry woes with 350 job losses
by Kay Murchie
Kier Group, the construction, housebuilding and maintenance company, has announced it is shedding around 350 staff in its residential division.
The cuts represent 60% of the 625 workers in the division. It is the latest company to ...
Mortgage lending falls further
Permalink: Mortgage lending falls further
by Kay Murchie
The latest figures from the Council of Mortgage Lenders (CML) have revealed a further fall in gross mortgage lending.
The new figures show gross mortgage lending fell to an estimated £23.8 billion in June, down 3% from May and 32% lower compared with the ...
July 17, 2008
Tenants pay dearly for gas and electricity
Permalink: Tenants pay dearly for gas and electricity
by Gill Montia
Tenants are likely to be paying more for electricity and gas than homeowners because landlords show little interest in switching to the most competitive supplier.
According to financial website, MoneyExpert.com, people in rented accommodation spend up to 13% of their ...
Spain’s leading construction firm goes bust
Permalink: Spain’s leading construction firm goes bust
by Gill Montia
Spain's property market crash has claimed its largest victim so far. One of the countries biggest developers, Martinsa Fadesa, has declared itself insolvent.
The demise of Martinsa Fadesa has been attributed to an oversupply of properties and rising borrowing costs.
The group has ...
Property performance warning from Land Securities
Permalink: Property performance warning from Land Securities
by Lin Freestone
A warning has been issued by Land Securities that the faltering economy could lead to further falls in capital values in the property sector. There has been a slight rise during the second quarter in the amount of empty property held ...
Reorganised Ballymore wins planning approvals in East London
Permalink: Reorganised Ballymore wins planning approvals in East London
by Lin Freestone
Ballymore, an international property development and investment group, has just been granted planning permission for two major development projects in East London.
A spectacular 45-storey twisting, residential tower on the former site of the London Arena in the Docklands will ...
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