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December 9, 2008
71% of landlords expect rent arrears to increase in 2009
Permalink: 71% of landlords expect rent arrears to increase in 2009
by Lin Freestone
The result of research conducted by the National Landlords Association (NLA) shows that 71% of the landlords questioned in a recent survey expect rent arrears to increase during 2009.
Of the landlords who participated in the survey, ...
UK commercial property values will have halved by 2010, predicts RICS
Permalink: UK commercial property values will have halved by 2010, predicts RICS
by Lin Freestone
The Royal Institution of Chartered Surveyors (RICS) has predicted that capital values in the commercial property market will fall by at least 16% in 2009, and continue to fall in 2010 by up to 10%.
Capital ...
HSBC pledges more mortgage lending in 2009
Permalink: HSBC pledges more mortgage lending in 2009
by Lin Freestone
HSBC is planning to lend 20% more to potential homeowners during 2009 than it lent in 2008, and almost double the level of mortgage funding to borrowers in 2007.
Following the government’s request for banks and building societies to resume ...
Tokyo rated top Asian city for real estate investment
Permalink: Tokyo rated top Asian city for real estate investment
by Gill Montia
A new study has named Tokyo as the most promising Asian city in which to buy real estate.
According to a joint report by US-based research firm Urban Land Institute and PricewaterhouseCoopers, the Japanese capital has overtaken Shanghai in ...
Bellway warns that discounts could lead to continued margin erosion
Permalink: Bellway warns that discounts could lead to continued margin erosion
by Lin Freestone
Housebuilder Bellway has suggested that other companies have been too eager in their decision to lower house prices and offer discounts, thus forcing down the price of homes unnecessarily.
The company has warned that pricing pressures, driven ...
December 5, 2008
Mortgage respite should extend to buy-to-let investors, says NLA
Permalink: Mortgage respite should extend to buy-to-let investors, says NLA
by Lin Freestone
The National Landlords' Association (NLA) has appealed for the two-year mortgage payment holiday to be extended to buy-to-let investors. If the real aim of the initiative is to keep people in their homes, it is claimed to be ...
Government urges lenders to pass on full 1% rate cut
Permalink: Government urges lenders to pass on full 1% rate cut
by Lin Freestone
Lenders are coming under increasing government pressure to pass on to homeowners the full benefit of the latest 1% interest rate cut.
Although banks cannot be forced to pass on the rate cut, the decision by the Bank ...
December 4, 2008
House prices back to July 2005 levels
Permalink: House prices back to July 2005 levels
by Kay Mitchell
According to the Halifax’s latest survey, house prices are now at the same level they were in July 2005 after house prices fell a further 2.6% last month.
The Halifax said the average property in the UK is now valued at ...
Government announces help for struggling homeowners
Permalink: Government announces help for struggling homeowners
by Lin Freestone
Under plans unveiled by Gordon Brown during a House of Commons debate on the Queen’s Speech yesterday, people affected by the economic downturn may choose to take a two-year mortgage interest payment holiday.
Those facing repossession after a job loss or significant ...
December 3, 2008
Mortgage rationing has returned, says the CML
Permalink: Mortgage rationing has returned, says the CML
by Lin Freestone
At the end of what he described as a momentous year for the mortgage industry. Michael Coogan, director general of the Council of Mortgage Lenders (CML), spoke at the council’s annual conference yesterday.
He commented that first-time buyers have been ...
December 2, 2008
October’s 32,000 mortgage approvals a record low
Permalink: October’s 32,000 mortgage approvals a record low
by Lin Freestone
Figures released by the Bank of England show that mortgage approvals in October fell by 1,000 to 32,000, from the September figure of 33,000. This record low was despite the cut in interest rates at the beginning of the month.
Mortgage ...
Hamptons International launches new website
Permalink: Hamptons International launches new website
by Gill Montia
Hamptons International, the London-based residential estate agency, has launched a new global website.
The facility consolidates all Hamptons’ property stock around the world and redirects customers to sub-sites relative to their country of residence.
This allows access to the most relevant properties for a ...
Social housing tenants get new watchdog
Permalink: Social housing tenants get new watchdog
by Gill Montia
The Government has launched the Tenant Services Authority (TSA), which has been formed to promote higher standards in the UK social housing sector and act as a watchdog for the country's eight million social housing tenants.
Its chief executive, Peter Marsh, has ...
Uncertainty surrounds Scotland’s Home Reports
Permalink: Uncertainty surrounds Scotland’s Home Reports
by Lin Freestone
From the beginning of December 2008, potential purchasers of a residential property in Scotland will have to be given a Home Report, which will contain a survey of the property, a valuation and an energy assessment. They will also contain a questionnaire ...
December 1, 2008
£97m private/public sector project starts in Belfast next year
Permalink: £97m private/public sector project starts in Belfast next year
by Lin Freestone
Titanic Quarter Limited, a property development company, is co-promoter with Belfast Harbour Commissioners of a £97m tourist project which is set to transform the waterfront of Belfast.
The Northern Ireland Executive has committed £43m to the project, which is ...
RBS offers breathing space for those with mortgage arrears
Permalink: RBS offers breathing space for those with mortgage arrears
by Kay Mitchell
Struggling families who are falling behind on their mortgage repayments will be given six months breathing space by The Royal Bank of Scotland (RBS).
The bank has guaranteed not to repossess the homes of customers who fall behind on ...
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