August 31, 2009

Foreign mortgage lenders look to recover debt in the UK

Permalink: Foreign mortgage lenders look to recover debt in the UK
by Gill Montia

Investors' Chronicle (IC) magazine is warning that some British investors in overseas property face a bleak future, claiming that "the standard holiday home investment model is clearly broken". Prior to the credit crisis, cheap foreign mortgages and low-cost ...


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August 30, 2009 Student reminder on deposit protection Permalink: Student reminder on deposit protection by Gill Montia Students moving into rented accommodation at the start of the academic year are being reminded that deposits handed over to landlords must be properly registered. Legislation introduced in 2007 means that most landlords and their agents are prohibited from accepting tenant deposits, ... (more...) August 28, 2009 Land Registry: House prices up 1.7% in July Permalink: Land Registry: House prices up 1.7% in July by Kay Murchie The Land Registry has reported a rise in house prices in England and Wales, providing more evidence that the housing market is recovering. According to the organisation, house prices rose by 1.7% in July compared with June - the largest ... (more...) Houses in short supply as rental market recovers Permalink: Houses in short supply as rental market recovers by Gill Montia The latest rental index from FindaProperty.com provides further evidence of a recovery in the market, with average asking rents up a monthly £4 to £829 pcm in August, marking a six month high. Furthermore, rental stocks fell 2% on July, ... (more...) August 27, 2009 House prices up 1.6% in August Permalink: House prices up 1.6% in August by Kay Murchie The Nationwide’s latest house price index has revealed yet another rise in monthly house prices. According to the lender, prices rose 1.6% in August compared with July - the fourth consecutive monthly increase. This takes the annual rate of decline down to 2.7% ... (more...) August 25, 2009 BBA reports rise in July mortgage approvals Permalink: BBA reports rise in July mortgage approvals by Kay Murchie The British Bankers' Association (BBA) has today revealed that the number of mortgages approved for house purchase in July soared to its highest level since February 2008. According to the BBA, approvals in July stood at 38,181 - a rise ... (more...) Electrical surveys a must for student lets Permalink: Electrical surveys a must for student lets by Gill Montia Letting Protection Services (LPS) has issued a timely reminder to landlords who have not carried out electrical surveys on their properties. With the new university term about to start, students will be filling their rented accommodation with laptops, stereos, TVs and ... (more...) Persimmon announces fall in H1 profits Permalink: Persimmon announces fall in H1 profits by Kay Murchie The UK's largest housebuilder by market value, Persimmon, has reported a fall in first half pre-tax profits to £9.8 million compared with a profit of £36.9 million a year ago. The York-based housebuilder said selling prices have stabilised in most parts of ... (more...) August 24, 2009 Landlords warned on investment scams Permalink: Landlords warned on investment scams by Gill Montia Eviction specialist, Landlord Action, has reported a surge in instructions to its debt recovery department from landlords scammed by rogue property sourcing and investment companies. Apparently, a number of unscrupulous companies have been demanding upfront fees to source below market value property, which ... (more...) Bovis sees stability but warns of rising unemployment Permalink: Bovis sees stability but warns of rising unemployment by Kay Murchie Housebuilder Bovis Homes has announced a pre-tax loss for the first half of 2009 of £8.6 million, compared with a profit of £9.5 million the same period a year ago. The housebuilder said it was hit by tumbling house prices ... (more...) August 22, 2009 Government to protect tenants of covert landlords Permalink: Government to protect tenants of covert landlords by Gill Montia Government proposals that offer greater protection for tenants have been endorsed by Landlord Assist, the rental arrears and eviction specialist. Ministers are concerned at the rise in the number of tenants losing their homes because their landlord is being repossessed. Plans have ... (more...) Buy-to-let mortgage fraud costs Chelsea BS £41m Permalink: Buy-to-let mortgage fraud costs Chelsea BS £41m by Gill Montia Chelsea Building Society's buy-to-let mortgage book has caused the mutual to write down £41 million against fraud. According to reports, property values were artificially inflated by third-party professionals between 2006 and 2008 and events came to light during a review of ... (more...) August 21, 2009 Rightmove optimistic after record visits to website Permalink: Rightmove optimistic after record visits to website by Kay Murchie Property search website Rightmove reported a fall of 8% in pre-tax profits for the first half of 2009 but gave a bullish forecast after experiencing a record number of visits to its website during August. Pre-tax profits in the first half ... (more...) HMRC: House sales up in July Permalink: HMRC: House sales up in July by Kay Murchie HM Revenue & Customs (HMRC) has revealed a rise in the number of homes sold in July in the UK. According to HMRC, 76,000 homes worth at least £40,000 or more were sold in July, a rise of 17% compared to the ... (more...) August 20, 2009 Mortgage lending soars in July Permalink: Mortgage lending soars in July by Kay Murchie The latest figures from the Council of Mortgage Lenders (CML) have revealed that mortgage lending continues to rise. According to the CML, mortgage lending was up 26% during July when compared with June, with gross lending at £16 billion. The improvement in mortgage lending ... (more...) August 19, 2009 Land Registry workload ’collapses’ amid property slump Permalink: Land Registry workload ’collapses’ amid property slump by Kay Murchie The Land Registry said the property market slump has resulted in its “workload and income having fallen off a cliff”. According to the organisation, 627 houses a day were registered in England and Wales in January - compared with 2,526 a ... (more...) Estate agents continue to profit from Hips Permalink: Estate agents continue to profit from Hips by Kay Murchie Consumer magazine Which? Money is urging homebuyers to shop around for Home Information Packs (Hips) after it was revealed that a pack can cost twice as much through an estate agent rather than buying from a specialist provider. Hips were introduced ... (more...) August 18, 2009 Mortgage holders opt to stay on SVRs Permalink: Mortgage holders opt to stay on SVRs by Kay Murchie In the midst of record low interest rates, homeowners are choosing to stay on the low standard variable rate (SVR) that their mortgage lender offers rather than remortgage. However, David Elms, chief executive of professional advice website Unbiased.co.uk, warns: “Those remaining ... (more...) Lloyds Banking Group dominates mortgage market Permalink: Lloyds Banking Group dominates mortgage market by Kay Murchie Figures released by the Council of Mortgage Lenders (CML) show that Lloyds Banking Group claimed 30% of the UK mortgage market in 2008. In second place was Spanish banking giant Santander (retaining its position as the UK’s second-largest mortgage lender) with a ... (more...) New lets at record levels for Leaders Permalink: New lets at record levels for Leaders by Gill Montia Leaders has reported record levels of new lets in July, following on from an exceptionally busy June. The firm, which claims to be the UK's largest independently owned letting specialists, says many of its 40 branches exceeded their forecasts by a ... (more...) 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Foreign mortgage lenders look to recover debt in the UK

Student reminder on deposit protection

Land Registry: House prices up 1.7% in July

Houses in short supply as rental market recovers

House prices up 1.6% in August

BBA reports rise in July mortgage approvals

Electrical surveys a must for student lets

Persimmon announces fall in H1 profits

Landlords warned on investment scams

Bovis sees stability but warns of rising unemployment

Government to protect tenants of covert landlords

Buy-to-let mortgage fraud costs Chelsea BS £41m

Rightmove optimistic after record visits to website

HMRC: House sales up in July

Mortgage lending soars in July

Land Registry workload ’collapses’ amid property slump

Estate agents continue to profit from Hips

Mortgage holders opt to stay on SVRs

Lloyds Banking Group dominates mortgage market

New lets at record levels for Leaders

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