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November 26, 2012

Landlords and tenants need protection from lettings agents

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by Gill Montia

Landlords and tenants need protection from lettings agents
In a new assessment of UK lettings agents, Which? says it has uncovered bad practice, unexpected and unfair fees and a lack of consumer protection that fails both tenants and landlords. According to the watchdog, the private rental sector now ...

November 21, 2012

Barclays slashes buy-to-let fixed rates

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by Gill Montia

Barclays slashes buy-to-let fixed rates
Barclays is cutting rates on its range of buy-to-let fixed-rate mortgages by up to 1.1% from today. The new two-year deals include a rate of 4.19%, reduced from 5.29%, for those with a deposit of 25%. For those with a 40% deposit, the ...

November 19, 2012

No signs of recovery in Scottish housing market

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by Gill Montia

No signs of recovery in Scottish housing market
The average Scottish house price currently stands at £155,188, according to Lloyds TSB Scotland, with the value of the typical dwelling down 10% since the market peaked in early 2008. On an annual basis prices have fallen 0.3% although in ...


English market towns forever popular

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by Gill Montia

English market towns forever popular
Homes in England's market towns are attracting an average price premium of £23,000, according to latest research from Lloyds TSB. What's more, the premium has typically doubled in the past decade taking prices 11% above the county average. Beaconsfield in Buckinghamshire is way ...

November 17, 2012

Dream of homeownership shattered for millions

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by Gill Montia

Dream of homeownership shattered for millions
The dream of homeownership is dying in Britain, according to the HomeOwners Alliance (HOA), a relatively new organisation set up to support existing and would-be homeowners. In a new report, HOA claims that the UK owner occupation rate has fallen to 64.7% ...

November 15, 2012

Buying a house a bigger commitment than marriage

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by Gill Montia

Buying a house a bigger commitment than marriage
Over a quarter of 25 to 34-year-olds in the UK believe that buying a house with someone is a bigger commitment than getting married, according to Halifax’s latest State of the Nation mortgages report. The study also highlights a difference ...

November 14, 2012

FSA warning on investment in overseas eco development

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by Gill Montia

FSA warning on investment in overseas eco development
The Financial Services Authority (FSA) says it is concerned that some homeowners are being urged to take out a mortgage secured against their UK property to fund an investment in an overseas development. The regulator has received reports that people ...

November 13, 2012

Brits shun big weddings in favour of property purchase

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by Gill Montia

Brits shun big weddings in favour of property purchase
Britons are shunning big white weddings in a bid to get on the property ladder, new research from Barclays claims. According to the bank, 52% of Britons would choose to put their savings towards a deposit for a ...

November 12, 2012

Potential first-time buyers look to shared ownership

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by Gill Montia

Potential first-time buyers look to shared ownership
Nearly a half of today's potential first-time buyers are considering turning to shared equity and shared ownership schemes, according to latest research from Lloyds TSB, with one in four respondents saying affordable housing is their only option when it comes ...

November 10, 2012

October housing market shows signs of life

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by Gill Montia

October housing market shows signs of life
October brought welcome signs of life to the housing market, with the value of the average property in England and Wales rising 0.1% (September: -0.1%), according to the LSL/Acadametrics index. The monthly increase was the first since May and sales ...

November 9, 2012

Repossessions continue to fall

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by Gill Montia

Repossessions continue to fall
Repossessions fell again in the third quarter of 2012, according to the Council of Mortgage Lenders (CML). A total of 8,200 properties were possessed by lenders in the three months to end-September, down from 8,500 in the previous quarter and 9,600 in the same ...

November 8, 2012

House prices won’t return to their 2007 peak until 2019

Permalink: House prices won’t return to their 2007 peak until 2019
by Gill Montia

House prices won't return to their 2007 peak until 2019
UK house prices won't return to their 2007 peak levels until 2019, according to Knight Frank. Worse still, once inflation is stripped out, average UK house prices are unlikely to hit 2007 levels in real terms until 2031. In ...

November 6, 2012

Council pension funds to be freed up for housing

Permalink: Council pension funds to be freed up for housing
by Gill Montia

Council pension funds to be freed up for housing
Councils are to be allowed to use more of their pension funds to build new homes. Currently, local Government pension schemes across England and Wales hold combined investment assets of around £150 billion. However, fund managers are limited in the ...

November 5, 2012

Hodge launches drawdown lifetime mortgage

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by Gill Montia

Hodge launches drawdown lifetime mortgage
Hodge Lifetime has launched a lifetime mortgage with the option to withdraw additional funds after completion of the loan, with the minimum amount set at just £1,000. Borrowers can also repay 10% of the original loan plus 10% of further withdrawals made each ...


Paragon launches new buy-to-let mortgages

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by Gill Montia

Paragon launches new buy-to-let mortgages
Paragon has launched a raft of new buy-to-let mortgages for professional and smaller-scale landlords. The loans include fixed and tracker rates offered under both the Paragon Mortgages and Mortgage Trust brands. Eighteen are targeted at professional landlords (12 trackers and six re-priced fixed rate ...

November 2, 2012

“Shocking” lack of trust in estate agents

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by Gill Montia

Over 90% of homebuyers want to see compulsory regulation of estate agents, according to new research from the Royal Institution of Chartered Surveyors (RICS). Currently, while all estate agents are legally bound to offer a customer redress scheme, those who ...

November 1, 2012

House prices up 0.6%

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by Gill Montia

House prices up 0.6%
UK house prices rose by 0.6% in October, offsetting September's 0.4% decline, Nationwide reports. At £164,153 the typical home has seen 0.9% shaved off its value compared to a year ago (September -1.4%) with 10 out of 13 UK regions recording annual price falls ...

October 31, 2012

Fall in negative equity households

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by Gill Montia

Fall in negative equity households
The number of UK households in negative equity has fallen over the last 18 months, according to the Council of Mortgage Lenders (CML). New figures from the lenders' body show that: 1. The amount of unmortgaged housing equity held by borrowers remains ...

October 30, 2012

House prices drift lower in October

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by Gill Montia

House prices drift lower in October
House prices across England and Wales fell by 0.1% during October, marking a third consecutive monthly decline (August -0.1%; September -0.1%), according to Hometrack. Thirty-one per cent of post codes experienced price falls and 5.7% recorded rises. However, over the last year, ...

October 29, 2012

Brits more optimistic on house prices

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by Gill Montia

Brits more optimistic on house prices
More Britons expect house prices to rise than fall over the coming twelve months, according to the latest Halifax Housing Market Confidence tracker. Just over a third of respondents think the average UK house price will increase in the year ahead, while ...