January 30, 2010

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New rules on sale-and-rent back

Permalink: New rules on sale-and-rent back
by Gill Montia

The Financial Services Authority (FSA) has published new rules and guidance aimed at protecting vulnerable consumers in the sale-and-rent-back market. The regulator implemented an interim regime in July of last year and the latest publication contains details of the full regime, which comes ...

January 29, 2010

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Flats regain popularity with prospective tenants

Permalink: Flats regain popularity with prospective tenants
by Gill Montia

Flats are back in fashion with prospective tenants, according to FinaProperty.com, with 52% of searchers on the website looking for this property type during the first week in January. The supply of flats is now at one its lowest levels since the ...

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Nationwide reports 1.2% rise in house prices in January

Permalink: Nationwide reports 1.2% rise in house prices in January
by Kay Mitchell

The latest house price index from the Nationwide Building Society has revealed a 1.2% rise for the month of January compared with December. The latest price gain takes the annual increase to 8.6% with the average UK home costing ...

January 28, 2010

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Government to curb houses in multiple occupation

Permalink: Government to curb houses in multiple occupation
by Gill Montia

Local councils are to have new powers to control the spread of high concentrations of shared rented homes (Houses in Multiple Occupation or HMOs) in England's towns and cities. New measures announced by Housing and Planning Minister, John Healey, are aimed ...

January 27, 2010

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Taylor Wimpey entices buyers with payment of stamp duty

Permalink: Taylor Wimpey entices buyers with payment of stamp duty
by Kay Mitchell

Housebuilder Taylor Wimpey is looking to save homebuyers thousands of pounds by paying their stamp duty. In September 2008, the Government opted to increase the stamp duty threshold from £125,000 to £175,000 in a bid to revive the housing ...

January 26, 2010

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FSA to protect mortgage holders in arrears

Permalink: FSA to protect mortgage holders in arrears
by Kay Mitchell

Under new proposals by the Financial Services Authority (FSA), mortgage holders who are in arrears will be better protected. The FSA said it wants lenders to guarantee they will use repossession a last resort and they will not be able to ...

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BBA reports rise in December mortgage approvals

Permalink: BBA reports rise in December mortgage approvals
by Kay Mitchell

The British Bankers’ Association (BBA) has today revealed a rise in the number of new mortgages approved by the major banks in December. According to the BBA, mortgage approvals for the month stood at 45,897 - slightly higher than the ...

January 25, 2010

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Rightmove survey reveals housing market optimism

Permalink: Rightmove survey reveals housing market optimism
by Kay Mitchell

A survey by property website, Rightmove, has unveiled growing confidence within the housing market. The website found that over half of Britons (53%) believe property prices will increase over the next year - compared to just 10% this time last year. The optimism ...

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Student buy-to-let sector not to be dismissed

Permalink: Student buy-to-let sector not to be dismissed
by Gill Montia

The UK's student buy-to-let sector remains buoyant while average private sector rents across the UK may have fallen or remained stable over the past year. So says investment specialist, Assetz, whilst pointing out that there is a huge national shortage of ...

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Landlords identify the “reluctant tenant”

Permalink: Landlords identify the “reluctant tenant”
by Gill Montia

The UK's private rental sector is now experiencing the "reluctant tenant", as research among landlords reveals that 54% believe more consumers are being forced to rent rather than buy. According to the Association of Residential Letting Agents (ARLA), new tenants ...

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NHF warns of housing spending cuts

Permalink: NHF warns of housing spending cuts
by Kay Mitchell

The National Housing Federation (NHF) has warned that more than half a million affordable homes will not be built if the Government implements spending cuts in its housing budget. In 2007, the Government pledged to build three million new homes by 2020 ...

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HMRC: House sales up in December

Permalink: HMRC: House sales up in December
by Kay Mitchell

HM Revenue & Customs (HMRC) has revealed a rise in the number of homes sold in December in the UK. According to HMRC, 104,000 homes worth at least £40,000 or more were sold in the month - the first time in two ...

January 22, 2010

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Britons forced to demolish Northern Cyprus home

Permalink: Britons forced to demolish Northern Cyprus home
by Gill Montia

A ruling by the British Court of Appeal in the case of Apostolides vs Orams could have far reaching implications for Britons owning property in Northern Cyprus. The case involves Meletis Apostolides, a Greek Cypriot, who claimed that David and Linda ...

January 21, 2010

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CML: Mortgage lending sees surprise rise in December

Permalink: CML: Mortgage lending sees surprise rise in December
by Kay Mitchell

The Council of Mortgage Lenders (CML) has today announced a rise in December mortgage lending - traditionally a quiet month for house purchase. However, the CML attributed the rise to homeowners rushing to beat the stamp duty rise on 1 ...

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Young Britons keen to escape family homes

Permalink: Young Britons keen to escape family homes
by Gill Montia

The start of the New Year has seen a surge in young Britons keen to escape the family home and move into rented accommodation. Lettingsearch.co.uk has reported a rise in graduates looking to gain their independence, contributing to a spike in ...

January 20, 2010

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Variable rate mortgages popular in low interest rate environment

Permalink: Variable rate mortgages popular in low interest rate environment
by Kay Mitchell

According to mortgage broker, John Charcol, variable rate mortgage deals are proving to be extremely popular in the current low interest rate environment. The Bank of England has held interest rates at the historically low level of 0.5% since ...

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Halifax makes historic tour of private rental sector

Permalink: Halifax makes historic tour of private rental sector
by Gill Montia

Halifax has been reviewing the history of the UK housing market to discover that between 1961 and 2008, owner-occupation increased from 43% to 68%. Unsurprisingly, the biggest shift occurred in the 1980s, following the introduction of the Right to Buy ...

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Your Move takes no.1 spot

Permalink: Your Move takes no.1 spot
by Kay Mitchell

Following its acquisition of Halifax Estate Agents from owners, Lloyds Banking Group, Your Move has become the biggest estate agency in Britain. It now has more than 300 branches across Britain after swallowing up 101 Halifax branches and has workforce of 1,550 people. In ...

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House prices increase fourfold in half a century

Permalink: House prices increase fourfold in half a century
by Kay Mitchell

A study by the Halifax has revealed that owning a home is less affordable than it was 50 years ago. The lender, which was taken over by Lloyds Banking Group at the height of the financial crisis in autumn 2008, ...

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Mydeposits offsets TDS fee hike with price freeze

Permalink: Mydeposits offsets TDS fee hike with price freeze
by Gill Montia

Mydeposits.co.uk has commented on the 23% price hike announced by The Dispute Service (TDS). The Service, which is responsible for the UK’s Tenancy Deposit Scheme, has recently approved a change in its method of charging subscriptions. Fees are now determined on ...