September 29, 2009

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First-time buyers receive a boost with HSBC’s 90% LTV mortgage

Permalink: First-time buyers receive a boost with HSBC’s 90% LTV mortgage
by Kay Murchie

HSBC has today announced it will make £500 million available to help home buyers who have a 10% deposit. According to HSBC’s head of mortgages, Martijn van der Heijden, the property market slump appears to be over with ...

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BoE: Mortgage approvals fall in August

Permalink: BoE: Mortgage approvals fall in August
by Kay Murchie

Bank of England figures out today show the housing market still has a long way to go a full recovery after the number of new mortgages approved for house purchase dipped in August for the first time in 10 months. According to ...

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Landlords called to invest as rental sector shrinks

Permalink: Landlords called to invest as rental sector shrinks
by Gill Montia

Letting agency, Pinkerton Murray, is convinced that now is the time for landlords to invest. The firm, which is based in Northern Ireland, cites recent surveys by Halifax, Nationwide and the Royal Institution of Chartered Surveyors as indications that the ...

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FSA steps up regulation of sale-and-rent-back

Permalink: FSA steps up regulation of sale-and-rent-back
by Gill Montia

The Financial Services Authority (FSA) has set out a package of measures aimed at protecting vulnerable consumers in the sale-and-rent-back market. The sector has flourished during the recession and become notorious for rogue operators who prey on people under threat of ...

September 28, 2009

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Insurance essential for rental property maintenance

Permalink: Insurance essential for rental property maintenance
by Gill Montia

Lettings insurance specialist, Landlordsure.co.uk, is warning that some letting agents who carry out maintenance at rental properties are at risk because they are not fully insured. The firm, which is a division of JSW Insurance Services, is urging agents to check ...

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Land Registry: House prices see slight dip in August

Permalink: Land Registry: House prices see slight dip in August
by Kay Murchie

The Land Registry has today reported a slight fall in house prices in England and Wales in August. According to the organisation, house prices fell by 0.1% in August compared with July putting the average cost of a home ...

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Illegal evictions on the rise

Permalink: Illegal evictions on the rise
by Gill Montia

Landlord Assist is aware that illegal evictions are on the increase and is therefore urging landlords to seek professional help and not take the law into their own hands. The rental property specialist says the rise in tenant arrears brought about by the ...

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FSA regulation looms for buy-to-let lending

Permalink: FSA regulation looms for buy-to-let lending
by Gill Montia

Buy-to-let mortgages could soon come under the remit of the Financial Services Authority (FSA), The Independent has reported. According to the newspaper, proposals to be published by the regulator in October could mean that both the buy-to-let and second charge mortgage markets ...

September 26, 2009

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Scottish Government to protect tenant deposits

Permalink: Scottish Government to protect tenant deposits
by Gill Montia

The Scottish Government has announced that it will be introducing a national scheme for safeguarding rent deposits. Housing and Communities Minister, Alex Neil, says it is time to protect tenants, and support the many landlords who do deal with deposits fairly. A ...

September 25, 2009

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Rental stocks fall in “vigorous” autumn market

Permalink: Rental stocks fall in “vigorous” autumn market
by Gill Montia

In its latest survey of the market, FindaProperty.com has reported a sharp drop in the number of homes advertised for rent. According to the website, stock levels fell by 6.2% between August and September, marking the largest monthly decline since the ...

September 23, 2009

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Barratt confirms £720m fundraising issue

Permalink: Barratt confirms £720m fundraising issue
by Kay Murchie

Housebuilder Barratt Developments has today confirmed it is to raise £720.5 million through a placing and rights issue in order to strengthen its balance sheet and slash debt. The rights issue is over £200 million more than the company was expected to raise ...

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BBA report 81% rise in mortgage approvals on year

Permalink: BBA report 81% rise in mortgage approvals on year
by Kay Murchie

The British Bankers' Association (BBA) has today reported an 81.4% increase in the number of mortgages approved for house purchase by the major banks in August, compared to the same month last year. The annual rise was high due ...

September 22, 2009

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Promise Home Packs ceases trading

Permalink: Promise Home Packs ceases trading
by Kay Murchie

Promise Home Packs, which was last month named as one of the cheapest Home Information Pack (Hip) provider, has ceased trading. The firm blamed market uncertainty for the demise and comes after last month’s report titled ‘Be aware of cheap, budget HIP & ...

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HMRC: House sales fall in August

Permalink: HMRC: House sales fall in August
by Kay Murchie

HM Revenue & Customs (HMRC) has revealed a fall in the number of homes sold in August in the UK - the first fall this year. According to HMRC, 83,000 homes worth at least £40,000 or more were sold in the month ...

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Buy-to-let mortgage market still shrinking

Permalink: Buy-to-let mortgage market still shrinking
by Gill Montia

New research from Paragon Mortgages indicates that 89% of property investors who attempted to take out a buy-to-let loan during the three months to the end of August would have found the market more difficult than in the previous quarter. Eight per cent ...

September 21, 2009

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Rents show rises across UK cities

Permalink: Rents show rises across UK cities
by Gill Montia

Gumtree.com is reporting signs of recovery in the UK rental market, with rents across several cities rising for the first time since 2007. The website, which advertises everything from homes to dating agencies, has released its latest Rental Price Index showing ...

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Rightmove reports fall in asking prices on year

Permalink: Rightmove reports fall in asking prices on year
by Kay Murchie

Asking prices are up 0.6% in the last four weeks compared with one month earlier, according to Rightmove, the property website. However, Rightmove announced that asking prices for homes in England and Wales are, on average, 1.5% lower than this ...

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Stamp duty suspension helps one third of buyers

Permalink: Stamp duty suspension helps one third of buyers
by Kay Murchie

Prospective home buyers are being warned that from January next year, stamp duty will be reintroduced on properties over £125,000. This time last year, the Government opted to increase the stamp duty threshold from £125,000 to £175,000, in a ...

September 18, 2009

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CML: Mortgage lending down 13% in August

Permalink: CML: Mortgage lending down 13% in August
by Kay Murchie

The Council of Mortgage Lenders (CML) have today reported a fall in mortgage lending in August of 13%, when compared with the previous month. However, the fall "is to be expected" according to the CML after June and July experienced ...

September 16, 2009

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Brits remain loyal to French and Spanish property markets

Permalink: Brits remain loyal to French and Spanish property markets
by Gill Montia

Mortgage specialist, Conti, is convinced that for UK overseas property investors, traditional locations will emerge victorious from the global market downturn. According to the firm, investors are sticking to "proven" locations as revealed in its latest "hot spots" report. ...