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January 20, 2009
Age-banded interest rates from LV=
Permalink: Age-banded interest rates from LV=
by Lin Freestone
LV= has switched to an age-banded interest rate system to calculate interest rates for its lifetime mortgage products.
The firm’s Flexible Lifetime Mortgage rates start at 6.29% for homeowners aged between 60 and 65 years. This represents a decrease of 0.40%. The ...
Landlords reveal portrait of the perfect tenant
Permalink: Landlords reveal portrait of the perfect tenant
by Gill Montia
Halifax Landlord Insurance has been surveying 1,000 UK landlords to determine the characteristics of the most desirable tenant.
According to the research, the perfect tenant is a female medical professional, aged between 36 and 45, living in London.
Seventy-seven per cent ...
Northern Rock’s new initiative could kick-start frozen housing market
Permalink: Northern Rock’s new initiative could kick-start frozen housing market
by Lin Freestone
The Chancellor of the Exchequer, Alistair Darling, has decided it is not appropriate for Northern Rock to continue to shrink its activities. The nationalised bank has made substantial repayments to the government for its £26.9bn loan made in ...
January 19, 2009
Rightmove optimistic about house prices
Permalink: Rightmove optimistic about house prices
by Kay Mitchell
Rightmove said that a fall in the number of homes being put up for sale and an increase in enquiries from prospective buyers means relief from falling house prices could happen at the end of this year.
The property website last month said ...
FMB forecasts thousands of job losses in the construction industry
Permalink: FMB forecasts thousands of job losses in the construction industry
by Kay Mitchell
The Federation of Master Builders (FMB) is forecasting that redundancies in the construction industry could reach 90,000 in the first half of this year.
The organisation‘s latest State of Trade Survey, which reports on SME’s in the construction ...
January 18, 2009
Housing Minister speaks of improvement in housing market
Permalink: Housing Minister speaks of improvement in housing market
by Kay Mitchell
According to Housing Minister Margaret Beckett, the housing market is experiencing an ‘upturn’.
In an interview with the Sunday Times, Mrs Beckett said interest among buyers has picked up.
One survey highlights that the number of buyers registering with estate agents ...
£200m government scheme could save homeowners from repossession
Permalink: £200m government scheme could save homeowners from repossession
by Lin Freestone
A £200m scheme has been introduced by the government which will allow not-for-profit housing associations to buy up all or part of the equity in homes in order to prevent vulnerable homeowners from repossession.
It is estimated that up ...
January 15, 2009
CML: Mortgage lending continues to fall
Permalink: CML: Mortgage lending continues to fall
by Kay Mitchell
The latest figures from the Council of Mortgage Lenders (CML) have revealed that mortgage lending continues to fall after the number of new home loans granted in November plummeted by 60% compared with November 2007.
The number of new loans granted was ...
January 14, 2009
Deposit Protection Service surveys landlord / tenant disputes
Permalink: Deposit Protection Service surveys landlord / tenant disputes
by Gill Montia
The Deposit Protection Service (DPS) has issued a new report on disputes between landlords and tenants.
The firm, which is managed by global deposit protection specialist, Computershare Investor Services, has found that tenants in the South East of England are ...
Sharp rise in landlord repossessions
Permalink: Sharp rise in landlord repossessions
by Gill Montia
New research from fund manager, Managing Partners Limited (MPL), suggests that the number of properties repossessed from landlords has risen sharply over the past 18 months.
Properties in possession at the end of June 2008 were 302% up on the end of March ...
January 13, 2009
Estate agents predict worse to come as property sales fall to lowest level
Permalink: Estate agents predict worse to come as property sales fall to lowest level
by Kay Mitchell
Figures published today by the Royal Institution of Chartered Surveyors (Rics) have revealed that property sales fell even further in December to their lowest level since records began over thirty years ago.
According to Rics, ...
79% fall in number of mortgage products available
Permalink: 79% fall in number of mortgage products available
by Lin Freestone
Mortgage Brain, a sourcing service providing mortgage product information, has revealed that there has been a 79% fall in the number of mortgage products available over the past year.
At the end of December 2008 there were 5,095 fewer mortgage ...
January 12, 2009
Housebuilders to receive £500m rebate
Permalink: Housebuilders to receive £500m rebate
by Kay Mitchell
Struggling housebuilders are set to receive a £500 million rebate from the taxman.
The industry has suffered dramatically in the wake of falling house prices and the mortgage squeeze, which has led to a severe decline in the number of property transactions.
However, ...
January 9, 2009
Bovis and Persimmon struggle as housing market shows no sign of recovery
Permalink: Bovis and Persimmon struggle as housing market shows no sign of recovery
by Kay Mitchell
Bovis Homes is cutting a further 200 jobs as the housebuilding industry grapples with the ongoing housing market downturn.
The company has already cut 400 workers since last summer, representing a 60% reduction from its workforce ...
January 6, 2009
alburaq launches Islamic home finance range
Permalink: alburaq launches Islamic home finance range
by Gill Montia
The Arab Banking Corporation has launched a new home finance range in the UK, via its "alburaq" brand, which is marketed through the bank's London subsidiary, ABC International Bank plc.
Working in line with Islamic principles, alburaq claims that its home ...
Nationwide survey confirms 16% fall in 2008 house prices
Permalink: Nationwide survey confirms 16% fall in 2008 house prices
by Lin Freestone
The latest survey by the Nationwide Building Society indicates that house prices in 2008 fell by almost 16%, bringing the average house price down to £153,048.
In December last year, prices fell by a further 2.5%, which was the ...
January 5, 2009
Intasure launches policy for UK-based second homeowners
Permalink: Intasure launches policy for UK-based second homeowners
by Gill Montia
Holiday home insurance specialist, Intasure, has introduced a new policy for people who have their main residences in the UK but are absent for long periods.
The company, which provides policy documents in English and operates a UK based English-speaking support ...
ARLA predicts rise in buy-to-let repossessions
Permalink: ARLA predicts rise in buy-to-let repossessions
by Gill Montia
The Association of Residential Lettings Agents (ARLA) is forecasting a tough year ahead for buy-to-let landlords.
The body expects a rise in the number of landlords defaulting on their mortgage payments accompanied by an increase in the rate of repossessions in the ...
January 2, 2009
Halifax: House prices continue to slide
Permalink: Halifax: House prices continue to slide
by Kay Mitchell
According to the Halifax, house prices in the UK continue to fall and are currently at August 2004 levels.
In December, house prices fell by 2.2%, taking the annual fall to 16.2% from December 2007 - the largest fall since the lender ...
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